714-745-2708

838 S Gramercy Place, Los Angeles, CA 90005

$1,790,000 Approx. USD 11 beds, 8 baths
6,324 sqft

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Marketed By The Keaty Team

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Marketed By The Keaty Team REALTOR® - Sales Associate 714-608-3298 m
714-745-2708 o
Lic#: 01276603
NRDS ID: 187514104
thekeatyteam@bhhscal.com Tustin Office
18302 Irvine Blvd, Suite 240
Tustin, CA 92780
Phone: 714-832-8800
Fax: 949-565-7700

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Listing Agent

Hyun Jin IM | ImRealtor2007@gmail.com
Lic#: 01989280
Broker: Courtesy of Seeders Real Estate
Phone: 213-550-6273

Co Listing Agent

Eric Kim | erickim4476@gmail.com
Lic#: 02132637
Broker: Courtesy of Seeders Real Estate
Phone: 213-880-2725

Agent Remarks

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 Details

Trust & Probate

Property type: (Multi-Family)

Status: Active

MLS# 26878631

Price: $1,790,000

Beds: 11

Baths: 8

Built in 1957

6,324 sqft

1 story

0.17 acres

Lot size: 0.1722

County: Los Angeles

Zoning: LAR3

Appliances: Refrigerator

Parking description: Assigned,Carport

Heating/cooling: None

Heating description: Wall Furnace

MLS area: C18 - Hancock Park-Wilshire

Last Updated: 9/2/2026

Days On Market (DOM): 33

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This listing belongs to the C18 - Hancock Park-Wilshire MLS area

Lat/Long: 34.056871, -118.312905.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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