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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 3 incentives, allowing for a density bonus above the base zoning while reducing parking and setback requirements. Previously approved plans for DEMOLITION OF EXISTING SFD AND CONSTRUCTION OF NEW 17-UNIT, 6-STORY 67-FEET IN HEIGHT, 16,373 SF APARTMENT BUILDING. 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. 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. BRING ALL OFFERS!
Property Type(s):
Lot/Land/Acreage
| Last Updated | 11/4/2025 | Year Built | 0 |
|---|---|---|---|
| Community | C18 - Hancock Park-Wilshire | County | Los Angeles |
Price History
| Prior to Nov 4, '25 | $1,395,000 |
|---|---|
| Nov 4, '25 - Today | $1,295,000 |
Additional Details
| AREA | C18 - Hancock Park-Wilshire |
|---|---|
| LOT | 7514 sq ft |
| LOT DIMENSIONS | 7513 |
| VIEW | Yes |
Location
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Listed with Rodeo Realty
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