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933 S Gramercy Place Los Angeles, CA 90019
7,513 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL25589527
HOA Y/N No
Lot Size 7,513 Sqft
Acres 0.17
Property Sub-Type Unimproved Land
Property Description
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 multifam
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5092022004
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Listed by Matthew Paul • Rodeo Realty