$1,790,000

838 S Gramercy Place, Los Angeles, CA 90005

11 beds |
8 baths |
6,324 sqft

Multi-Family Home
Built in 1957
7,501sqft lot
—— car garage
$283/sqft
Listed 28 days ago

Property Description

UNBEATABLE LOCATION & MASSIVE UPSIDE! Strategically positioned on the border of Hancock Park and Koreatown, 838 S Gramercy Place represents the ultimate "Location! Location! Location!" investment. This 8-unit multifamily asset is priced to make buyers profitable from day one, offering a rare combination of immediate cash flow and significant equity growth potential. Currently operating at a strong 6.33% CAP (w/ No Vacancy) and 10.34 GRM, this property features an incredible path to 9.03% CAP (w/ No Vacancy) and 8.20 GRM based on market rents. The unit mix consists of THREE spacious 2-bedroom/1-bath units and FIVE 1-bedroom/1-bath units, providing maximum rental flexibility in a high-demand submarket. Key Highlights for Savvy Investors: 1. Aggressive Pricing: Priced to move quickly in today's market. 2. Prime Accessibility: Steps away from world-class dining, shopping, major banks, and Metro stations. 3. Low Owner Expenses: Separately metered gas and electricity plus 8 assigned parking spaces. 4. Turn-Key Readiness: Completed seismic retrofit in 2022 and SB721(Safety of the Balcony) inspection and clearance completed in March 2026 - no deferred maintenance headaches. Whether you are looking for a stable long-term hold or a high-yield value-add play, this is the best-priced 8-unit building in the area. Act now -opportunities at this price point and location do not last! The Seller intends to perform an IRC Section 1031 tax-deferred exchange. Seller requests buyer's cooperation at no cost to buyer. ALL OFFERS ARE WELCOME!

Listing Status:: Active
Date Added:: August 25, 2026
Data Last Updated:: September 23, 2026 at 12:16AM
Listing Office:: Seeders Real Estate : 661-675-6000
Listing Agent:: Hyun Jin IM : 213-550-6273
MLS ID:: 26878631

Appliances: Refrigerator
Laundry: Common Area
A/C: None
Heating: Wall Furnace

Parking: AssignedCarportParking spaces: 8

General: 1

Originating MLS: CRMLS_CL
County: Los Angeles

Zoning: LAR35092025017

Source: CRMLS_CL

This listing courtesy of Hyun Jin IM , Seeders Real Estate

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Principal & Interest $
Property Taxes $
Home Insurance $
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