1740 N Gramercy Place, Los Angeles, California image 1
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1740 N Gramercy Place

Los Angeles, CA 90028
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$2,900,000 $12,226/Mo
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Bed 7

Bed

Bath 18

Bath

SqFt10,798

Sqft

SqFt10,005

Sqft(Lot)

We are pleased to present 1740 N Gramercy Pl, a 17-unit multifamily investment in the heart of Hollywood, offered at $2,900,000 ($170,588 per unit and $268.57 per gross SF). The offering generates a current CAP rate of 4.58% and a current GRM of 10.11 on in-place income, improving to a 7.09% market CAP rate and 7.89 market GRM as the remaining below-market tenancies roll to market levels. The property comprises twelve studio units, four one-bedroom/one-bath units, and a detached three-bedroom/two-bath rear house, totaling approximately 10,798 gross square feet on a 10,002 SF R3-zoned lot. The investment carries approximately 28% rental upside to market, with current scheduled gross income of $286,832 growing to a market potential of $367,440. Market rents are underwritten at $1,585 per mon th for studios and $1,900 per month for one-bedrooms. The detached rear house, currently occupied at a deeply below-market rate, represents the single largest driver of upside in the building and provides a disproportionate lift to net operating income as its tenancy resolves. The building has received meaningful capital investment at the infrastructure level, including new circuit breakers installed on a per-unit basis in the basement electrical room. The main building operates on master-metered gas and electric, while the rear house tenant pays their own utilities directly, providing a natural cost separation between the two structures. On-site laundry is available in the basement, adding a convenience amenity and potential ancillary income source. Four units (101, 102, 201, and 202) feature dual entrances, a functional distinction that supports flexible leasing configurations and tenant privacy. The building's original 1924 construction gives the property a character and scale consistent with the historic rental stock that defines the surrounding Hollywood neighborhood. 1740 N Gramercy is positioned within one of Los Angeles' most established and continually evolving rental corridors. Hollywood's employment base spans entertainment production, technology, hospitality, and healthcare, anchored by major studios, streaming company offices, and the growing density of the Vine Street and Cahuenga corridors. The property offers convenient access to the 101 Freeway and Metro Red Line, connecting tenants to Downtown Los Angeles, the Westside, and the Valley with ease.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $2,900,000

AD Id : 91701278

MLS Id : 26997775

Beds : 7

Lot Size : 10,005 Sq. Ft

Living Area Size : 10,798 Sq. Ft

Year Built : 1924

County : Los Angeles

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Feature Features

  • Bedroom Information

    Total beds: 7

    Bathroom Information

    Total Baths: 18

  • Heating & Cooling

    Heating: None Cooling: None

  • Building Information

    Year Built: 1924
    Building Area Total: 10798
    Stories: 2
    Private Pool: No

  • Lot Information

    Lot Dimensions: 50x200 Main Square Feet: 10005 Lot Size Acres: 0.2297 Lot Size Square Feet: 10,005

  • Listing Price Information

    Listing Price: $2900000

  • Tax Information

    Parcel Number: 5544003029

  • Location Information

    Direction: N Gramercy Place between Hollywood Blvd and Franklin Avenue
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1351 Seward St, Los Angeles, CA, 90028 $3,599,900 10 8 -- 7,503 Sq. Ft
1301 Seward, Los Angeles, CA, 90028 $1,499,000 4 3 1,571 4,090 Sq. Ft

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The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 10/07/2026 @ 15:30

MLS: 26997775 LISTED BY: Neema Ahadian, Marcus & Millichap 310-909-5500 SOURCE: CRMLS

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