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537 S Gramercy Pl
Los Angeles, CA 90020 Koreatown

$3,400,000 USD

Apartments For Sale  •  8,720 SF

Property Details

  • Property Type Apartments
  • Total Building Size 8,720 SF
  • Lot Size 0.2 AC
  • Building Class C
  • Year Built 1959
  • Zoning R4, Los Angeles
77 Transit Score
97 Walk Score

Highlights

The property is located in Prime Koreatown, two blocks from the Wilshire Blvd / Western Ave intersection.
The sixteen units consists of (7) One Bedroom and (9) Studio Units.
Current rents are below market leaving approximately $125,000 in additional upside. Current rents are approximately $1.85/sf.
Approximately 27% upside in rents
The property offers secured remote on-site parking enough to fit 16 vehicles
The property is located along LA Metro's D Line (Purple Line), which has plans to expand westward with completion to UCLA by 2027

Amenities

  • 24 Hour Access
  • Controlled Access
  • Laundry Facilities
  • Tenant Controlled HVAC
  • Kitchen
  • Refrigerator
  • Range
  • Tub/Shower
  • Freezer
  • Walk-Up
  • Smoke Detector

Public Transportation

Commuter RailDriveWalkDistance
11 min - 5.9 mi
Union Station (91 Line - Southern California Regional Rail Authority (Metrolink), Antelope Valley Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink), Riverside Line - Southern California Regional Rail Authority (Metrolink), San Bernardino Line - Southern California Regional Rail Authority (Metrolink), Ventura County Line - Southern California Regional Rail Authority (Metrolink)) 14 min - 6.0 mi
Transit/SubwayDriveWalkDistance
Wilshire/Western Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 1 min 8 min 0.4 mi
Wilshire/Normandie Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 17 min 0.9 mi
AirportDriveWalkDistance
Bob Hope 24 min - 12.0 mi
Los Angeles International 24 min - 12.6 mi
Long Beach (Daugherty Field) 37 min - 25.3 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 16
Type: Covered
Included in Rent: Yes
Peter James 310-467-7581 Lyon Stahl Investment Real Estate
Peter James 310-467-7581 Lyon Stahl Investment Real Estate