Multifamily Development Opportunity in Los
For Sale
$1,199,000
933 S Gramercy Pl, Los Angeles, CA 90019
LAND - Los Angeles, CA
Property Size16,373 SF
Lot Size0.17 Acres
Price / SF$73.23
Days on Market333
Property Features for 933 S Gramercy Pl
General Information
Property type
Land
Property subtype
Other
Zoning
LAR3
Directions
North of Olympic, South of 8th, West of Western, East of Arlington
Subdivision
Hancock Park-Wilshire
Standard status
Active
APN
5092-022-004
Size
16,373 SF
Lot size
0.17 Acres
Listing Agency:
Rodeo Realty
(310) 724-7100
Listed By:
Matthew Paul · License #01394372
(310) 499-3579
Added: Sep 8, 2025
Changed: Apr 15
Last Checked: Aug 6 at 10:06AM
MLS# 25589527
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant parcel at 933 South Gramercy Place presents a multifamily development opportunity in the Mid-City/Koreatown area of Los Angeles. The property is a 7,506 square foot lot zoned LAR3. It benefits from TOC Tier 3 incentives, which allow for a density bonus and reduced parking and setback requirements. Plans were previously approved for the construction of a new 17-unit, 6-story apartment building reaching 67 feet in height and encompassing 16,373 square feet. The proposed program leverages transit-oriented incentives, reducing costs associated with subterranean parking and aligning with the city's urban growth objectives. This property offers a clear entitlement path and strong rental demand drivers. Conceptual plans are available for investor review. It represents an opportunity for developers and investors to invest in one of Los Angeles' rental growth markets, with the framework to deliver a multifamily asset and generate long-term returns. The lot size is approximately 0.1725 acres.
Key Highlights
- Prime multifamily development opportunity in Los Angeles' Mid‑City/Koreatown corridor.
- Vacant 7,506 square foot lot zoned LAR3 with TOC Tier 3 incentives.
- Previously approved plans for a 17‑unit, 6‑story apartment building (16,373 SF).
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,649
Businesses Nearby
Explore this area
Business Placement
Demographics for 90019, CA
62,002
Population
26,203
Households
2.4
Avg Household Size
38
Median Age
39%
College-Educated
80%
High-School Grad
3.9 sq mi
ZIP Area
15,898
Density / Sq Mi
$71,395
Median Household Income
$40,316
Median Earnings
$1,782
Median Rent
$1,178,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Vacant land parcel in Mid-City/Koreatown corridor, Los Angeles.
Where is this residential land & home lot located?
The property is located at 933 S Gramercy Pl Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Prime multifamily development opportunity in Los Angeles' Mid‑City/Koreatown corridor.; Vacant 7,506 square foot lot zoned LAR3 with TOC Tier 3 incentives.; Previously approved plans for a 17‑unit, 6‑story apartment building (16,373 SF).
