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838 S Gramercy Pl , Los Angeles, CA 90005
$1,790,000
Est. Payment: $9,559.85/mo
11 Bed
8 Bath
6324 Sqft
Status: Active | Days on site: 8
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CLW-X80760 - CLW-C121942,CLW-C137494
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Chris Heller
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House 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!
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Highlights

Listed by Hyun Jin IM , 213-550-6273 and Eric Kim , 213-880-2725 Seeders Real Estate , 661-675-6000. CRMLS/Multi-Regional MLS mls logo

Property Type

Multi-Family
Lot/Acreage
0.17

Year Built

1957

County

Los Angeles

Area

C18 - Hancock Park-Wilshire

Listing ID

26878631

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:11
  • ▪ Bathrooms:8
  • ▪ Full Bathrooms:0
Appliances:Refrigerator

Exterior Features

Lot:No Land Lease
Garage Capacity:8
Zoning:LAR3
Others:
  • ▪ Additional:2+ Total Units
Parking Features:Assigned,Carport
Principal Interest
$9,560
Taxes
$1,141

Home Price

$1,790,000

Loan Details

30 yrs
7.034%

Down Payment

20%
$358,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$9,559.85

Principal

Taxes

Principal Taxes HOA Total
Monthly $9,559.85 $1,141.13 $0.00 $10,700.98
Yearly $114,718.23 $13,693.50 $0.00 $128,411.73
Total $3,441,547.02 $410,805.00 $0.00 $3,852,352.02

Today's Rates

30 Year

7.03%

20 Year

7.02%

15 Year

6.38%

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Market insight data is pulled from the same city as the listing being viewed (Los Angeles, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. All properties are subject to prior sale, change or withdrawal.

IDX service by Blueroof 360

Data last updated: 2026-09-23T01:02:47.000Z

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