Property Detail

736 Gramercy

Los Angeles CA 90005

$1,350,000

Status: Active

Property Details

Description

7 units in Prime Koreatown west of Western Ave in a Walker's Paradise (92 Walk Score). A true value-add opportunity with 30% upside (8%+ cap at market), the asset is incredibly well positioned for an investor to steward to new heights with upgrades, unit turnover and potential ADUs. Priced at $192k per unit and a 5.6% cap rate, the offering represents an attractive basis well below replacement cost and competitive cashflow right out of the gate. Most of the upside is concentrated across three longer-tenured units, making the upside capture more manageable. This stretch of Gramercy Dr. is quiet with low density residential and single family homes mixed with mid-sized apartment buildings. Within just a few blocks, residents can enjoy an incredible array of dining, retail and entertainment options including The Wiltern Theatre, Western Plaza and Koreatown Plaza.

Map Location

Listing provided courtesy of Adam Peterson of CB Richard Ellis, Inc.. Last updated 2026-10-13 08:11:02.000000. Listing information © 2026 CRMLS.

John Collins

John Collins

DRE# 01948188
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