Gramercy Park Townhouse 458 S Gramercy Pl 18 Unit Apartment Building $2,700,000 ($150,000/Unit) 5.05% Cap Rate Los Angeles, CA 90020

The Mogharebi Group is pleased to present for sale, The Gramercy Park Townhouse, an eighteen-unit apartment building located in the highly desirable Koreatown neighborhood of Los Angeles. The property is comprised of two one-bedroom, one-bathroom units of approximately 600 square feet each, fourteen studio units averaging 400 square feet, and two bachelor units of roughly 300 square feet. In total, the building encompasses approx. 9,600 square feet of improvements situated on a 7,460-square-foot parcel of land.
The property benefits from an exceptional Koreatown location just east of Wilton Ave and north of 6th Street - an area that has historically commanded stronger rental demand and achieved higher effective rents compared to properties east of Western. This submarket distinction has been consistent over time, as tenants generally prefer the quieter residential character and superior proximity to transit, restaurants, and amenities found on the west side of Western Avenue.
Gramercy Park Townhouse is positioned in the heart of the Koreatown with excellent access to the Wilshire/Western Metro Station, located approximately half a mile away - an eight-minute walk from the property. This provides direct rail access to Downtown Los Angeles and connecting tenants to major employment and entertainment hubs across the city.