Homes for sale - 537 S Gramercy PL, Los Angeles, CA 90020

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Sharlotte Blake

sharlotteblake@me.com +1(323) 219-1101

$3,400,000

Est. payment - /mo

8 Beds

16 Baths

8,720 SqFt

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 8,720 sqft

Price per Sqft $389

MLS Listing ID 25630377

Bedrooms 8

HOA Y/N No

Year Built 1959

Lot Size 8,407 Sqft

Property Description

537 S. Gramercy Place is a well-located 16-unit multifamily investment opportunity in the heart of Koreatown, one of Los Angeles' most supply-constrained and high-demand rental submarkets. The property is ideally situated just two blocks from Wilshire Boulevard, offering tenants walkable access to neighborhood retail, dining, and daily amenities. The Wilshire/Western Metro station is located just three blocks away, providing convenient connectivity to Downtown Los Angeles, Hollywood, and the Westside. Constructed in 1959, the wood-frame stucco property spans approximately 8,720 square feet on an 8,406-square-foot lot with an efficient average unit size of 545 square feet. Building amenities include 16 on-site parking spaces, secured intercom entry, on-site laundry, and a completed soft-story seismic retrofit. Utilities are separately metered for gas and electricity, supporting operational efficiency. From an investment perspective, the property offers approximately 27% upside in rents, presenting a compelling value-add opportunity. Offered at attractive in-place pricing with favorable financing options, 537 S. Gramercy Place is positioned within a proven high-occupancy market with strong and consistent rental demand.

Location

State CA

County Los Angeles

Area C18 - Hancock Park-Wilshire

Zoning LAR4

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Appliance Refrigerator, Dryer, Washer

Exterior

Parking Features None

Pool None

Community Features Gated

View Y/N Yes

View City Lights

Total Parking Spaces 16

Private Pool No

Building

Faces East

Story 2

Entry Level Multi/Split

Sewer Other

Architectural Style Mid-Century Modern

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5504026004

Security Features Carbon Monoxide Detector(s),Security Gate,Gated Community,Key Card Entry,Resident Manager,Smoke Detector(s)

Special Listing Condition Standard

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Listed by William James Lyon Stahl Investment Real Estate, Inc.

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Sharlotte Blake

+1(323) 219-1101

Broker Associate | License ID: 02035876

Broker Associate License ID: 02035876

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Los Angeles, CA

537 S Gramercy PL Los Angeles, CA 90020

Sharlotte Blake

Key Details

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Interior

Exterior

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537 S Gramercy PL