$1,490,000
-$160,000705 S Gramercy Place, Los Angeles CA 90005
Multi-Family (2 Units)
Property type
75 days
On market
$409
Price per sqft
2 cars
Garage
1922
Year built
5,164 sqft
Lot size
Home highlights
Open Houses
Overview
Welcome to 705-707 S Gramercy Place, a premier duplex zoned LAR3 perfectly situated at the highly desirable crossroads of Koreatown, Mid-Wilshire, and Hancock Park. This rare property offers the space and feel of two single-family homes, making it an ideal choice for an owner-user looking to live in one unit while generating premium income from the other, or an investor...
Listing provided by: Jamie Lee DRE #01462186 818-913-5561, I & J Properties, Inc., Robert Lee DRE #01231951 213-925-3632, I & J Properties, Inc.
Listing updated: May 2, 2026 at 03:42am.
Last checked: Jun 12, 2026 at 11:00pm
Source: CRMLS #26672721
Multi-family Analysis
Unit Information
| Units | Beds | Baths | Garage | Actual Rent | Total Rent | Pro Forma | Furnished? |
|---|---|---|---|---|---|---|---|
| 705 | 3 | 2 | — | $3,700 | $0 | $3,700 | Unfurnished |
| 707 | 3 | 2 | — | $3,600 | $3,600 | $3,600 | Unfurnished |
# of Buildings: 1
# of Units Total: 2
Disposal: 2
Tenant Pays: Electricity, Gas, Trash Collection, Water
Financial Snapshot
Gross Rent Multiplier
17.0x
List Price / Annual Gross Rent
Cap Rate
5.88%
NOI / List Price
Net Operating Income: $87,600
Interior
Interior Features: Ceiling Fans
Flooring: Laminate
Cooling: Central Air
Heating: Central, Forced Air
Appliances: Gas Cooktop, Disposal, Gas Oven
Fireplace: None
Laundry: In Kitchen
Entry Location: Ground Level W, Steps
Exterior
Architectural Style: Contemporary
Stories Total: 2
Levels: Two
Window Features: Blinds
Security Features: Security Gate, Gated Community
Pool: None
Spa: None
Sewer: Sewer Tap Paid
View: None
Garage and Parking
Parking: Shared Driveway
Garage Spaces: 2
Garage: Detached
Uncovered Spaces: 4
Parking Total: 6
Lot Information
Land Lease: No
Parcel #: 5092027024
Zoning: LAR3
Community
HOA: No
Senior Community: No
Community Features: Gated