Property Detail

1740 Gramercy

Los Angeles CA 90028

$2,900,000

Status: Active

Property Details

Description

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 month 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.

Map Location

Listing provided courtesy of Neema Ahadian of Marcus & Millichap. Last updated 2026-10-16 08:10:58.000000. Listing information © 2025 CRMLS.

Ever Eternity

Ever Eternity

CA DRE# 01794748

1111 Prospect St, Suite 100 La Jolla,
​​​​​​​CA 92037

858.688.4113

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Welcome

Meet Ever

Ever Eternity is Your Local Real
Estate Professional

Whether it's your first townhouse, vacation property or coastal dream home, I will work to find the property that's best for you. I am able to anticipate and fulfill each of my clients needs, in order to find the perfect home for them and their family. I am here to work with you, to find the best fit for you, and am excited for the opportunity.

People choose to work with me for my full service expertise, experience and ethics. My base of loyal customers is the reason I am successful in this competitive sales market.

​My attention to detail allows me to find dream homes for buyers, and build thorough home marketing plans for my sellers. I have great pride in my negotiation skills and believe in transparency and full disclosure throughout each deal. I value open communication with my clients and welcome questions from start to close.

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"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

"Ever was simply excellent. He is thorough, approachable and very knowledgable of the house buying process. We appreciated his manner and help throughout our purchase process - he never made us feel pressured to select a house and helped us find a perfect match. He was especially helpful when we needed to juggle urgent travel during the Escrow process, helping us set up power of attorney. We would recommend Ever to any type of buyer and will certainly use him for any future real estate needs that we have."

"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

"Ever has been my agent through two purchases and one sale. He has a keen sence of the market and knows how best to price and time sales and purchases. He makes sure to get the job done and places the most importance on making his satisfying his clients wishes to the best of his ability. He works well with escrow, property managers, and whomever he needs to speak with."

"Working with Ever was a joy. We had a number of unexpected challenges during the process of selling our house and Ever was consistently there to help, guide, and support us. He was always available for consultation and never lost sight of the immediate issues nor the long term goals. Ever was an exemplary professional in every way and I would highly recommend him."

"Working with Ever was a great experience. Selling our Mom's house was emotionally difficult for us. Ever guided us thru the process and made it smooth and easy as possible for us. He responded to all of our questions with professionalism and knowledge. He kept us informed of every action during the sale. We trusted his advice and insights and he delivered on everything he said. The sale was quick and smooth and we couldn't be happier. We highly recommend Ever. He definitely knows his business."

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