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933 S Gramercy Pl, Los Angeles, CA 90019

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For Sale

$1,395,000

0.17 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • Newly Listed
    Time on Century 21

  • 0.2 acres
    Lot size

Explore this Property

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.
MLS# 25589527

Courtesy Of Rodeo Realty

(310) 724-7100

Property Features

  • Architecture Style
    Other
  • Lot Size
    0.17 Acres

Map and Directions

Directions to 933 S Gramercy Pl, Los Angeles, CA 90019

Home seller CENTURY 21 Realty Masters

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Realty Masters

(323) 722-7300
Learn More About Us

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Copyright © 2025 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being 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. Information being 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.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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