09/03/2026
🔥 Prime LA Location! Exceptional Cash-Flowing 8-Unit Multi-Family Investment Opportunity! 🔥
Perfectly situated with convenient access to major hubs including Koreatown, Downtown LA, Hancock Park, West LA, and Beverly Hills. This income-producing property offers a fantastic location for a value-add investment.
Property Information
Address: 838 S Gramercy Pl., Los Angeles, CA 90005
Listing Price: $1,790,000
Unit Mix: 8 Units Total (3 x 2-Bed/1-Bath, 5 x 1-Bed/1-Bath)
Size: Gross SF approx. 6,324 sq. ft. / Lot Size 7,502 sq. ft.
Financial Highlights
This property currently generates stable rental income but offers significant upside potential by bringing current rents up to market rates (Pro Forma).
CAP Rate: Current 6.04% ➡️ Pro Forma 8.66% (Assuming 3% vacancy rate)
Gross Rent Multiplier (GRM): Current 10.34 ➡️ Pro Forma 8.20
Net Operating Income (NOI): Current $108,142 ➡️ Pro Forma $155,073
Gross Scheduled Income: Current $174,276 ➡️ Pro Forma $219,600
Key Features
Heavy capital expenditures already handled: The seismic retrofit was fully completed in 2022.
Fully compliant: The SB721 balcony safety inspection received final clearance in March 2026.
High tenant appeal: Includes 8 assigned parking spaces (1 space per unit).
Easy utility management: Units are separately metered for both gas and electricity.
Turnkey condition: The building is in excellent shape with minimal deferred maintenance required.
If you are looking for successful commercial and residential real estate investments, reach out today. I will help you secure the best possible deal backed by accurate data and deep market expertise!
👤 Hyun Jin IM | Broker Associate & Realtor®
Seeders Real Estate
T: +1 (213) 550-6273
E: [email protected]
Kakao ID: hanajin1
DRE #: 01989280
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