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7 units in Prime Koreatown west of Western Ave in a Walker's Paradise (92 Walk Score). A true value-add opportunity with 30% upside (8%+ cap at market), the asset is incredibly well positioned for an investor to steward to new heights with upgrades, unit turnover and potential ADUs. Priced at $192k per unit and a 5.6% cap rate, the offering represents an attractive basis well below replacement cost and competitive cashflow right out of the gate. Most of the upside is concentrated across three longer-tenured units, making the upside capture more manageable. This stretch of Gramercy Dr. is quiet with low density residential and single family homes mixed with mid-sized apartment buildings. Within just a few blocks, residents can enjoy an incredible array of dining, retail and entertainment options including The Wiltern Theatre, Western Plaza and Koreatown Plaza.
Property Type(s):
Residential Income
| Last Updated | 10/5/2026 | Year Built | 1955 |
|---|---|---|---|
| Community | C18 - Hancock Park-Wilshire | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | C18 - Hancock Park-Wilshire |
| HEAT | Wall Furnace |
| LOT | 6251 sq ft |
| LOT DIMENSIONS | 6251 |
| PARKING | Carport, Driveway |
| STORIES | Split/Multi Level |
| STYLE | MidCenturyModern |
Location
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Listed with CB Richard Ellis, Inc.
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