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$ 1,395,000
Est. payment /mo
Active
933 S Gramercy Pl Los Angeles, CA 90019
7,513 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25589527
Lot Size 7,513 Sqft
Acres 0.1725
Property Description
933 South Gramercy Place offers a prime ground-up multifamily development opportunity in Los Angeles' thriving Mid-City/Koreatown corridor. This vacant parcel is zoned LAR3 on a 7,506 square foot lot and benefits from TOC Tier 2 incentives, allowing for a density bonus above the base zoning while reducing parking and setback requirements. By-right zoning supports approximately 9 units, with TOC Tier 2 bonuses expanding the development potential to 14/15 units. The property is currently presented with a fully conceptualized plan for 17 units, including two deed-restricted affordable units to satisfy TOC requirements, offering investors a bold but realistic roadmap to maximize the site's value. The proposed program capitalizes on transit-oriented incentives, minimizing hard costs tied to subterranean parking and aligning with the city's sustainable urban growth objectives. Revenue projections support a solid yield-on-cost spread relative to estimated construction costs. 933 South Gramercy Place is a strategically positioned, clean land play with a clear entitlement path, strong rental demand drivers, and conceptual plans available for investor review. This is a compelling opportunity for developers and investors seeking to place capital in one of Los Angeles' strongest rental growth markets, with the framework in place to deliver a high-performing multifamily asset and generate substantial long-term returns. Serious inquiries are encouraged to request and review the conceptual plans in full. BRING ALL OFFERS!
Location
State CA
County Los Angeles
Area Hancock Park-Wilshire
Zoning LAR3
Exterior
View Y/N Yes
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Special Listing Condition Standard
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Listed by Rodeo Realty
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