736 S Gramercy Dr 7 Unit Apartment Building $1,699,990 ($242,856/Unit) 5.32% Cap Rate Los Angeles, CA 90005

Berkshire Hathaway Commercial is proud to present 736 S Gramercy Drive, a well-positioned 7-unit multifamily investment opportunity located in the heart of Los Angeles' highly sought-after Koreatown neighborhood. Situated just west of Western Avenue, this recently updated property offers investors the rare opportunity to acquire a stabilized asset with substantial rental upside in one of the city's most dynamic rental markets.
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The property features a desirable unit mix of four one-bedroom units and three two-bedroom units, catering to the strong demand for workforce and urban housing throughout the Koreatown submarket. Current rents remain significantly below market levels, presenting a compelling value-add opportunity through strategic rent repositioning and continued asset management.
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Based on projected market rents, the property offers an attractive pro forma 8.84 GRM and 8.49% cap rate, providing investors with the potential to significantly enhance cash flow while benefiting from long-term appreciation in a supply-constrained infill location.
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Residents enjoy immediate access to Koreatown's renowned dining, entertainment, and retail amenities. With an impressive Walk Score of 91, the property is within walking distance of popular restaurants, cafés, grocery stores, and public transportation, making it an ideal location for tenants seeking an urban live-work-play lifestyle.
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736 S Gramercy Drive represents an exceptional opportunity to acquire a well-maintained multifamily asset with strong income growth potential in one of Los Angeles' most active and resilient rental markets.