427 S Gramercy Place, Los Angeles, CA 90020

Local realty services provided by:ERA North Orange County Real Estate
427 S Gramercy Place,Los Angeles, CA 90020
$1,295,000
  • 22 Beds
  • 18 Baths
  • 5,814 sq. ft.
  • Single family
  • Active
Listed by: julie lee
Office: i&j properties
MLS#:25626317
Source:CRMLS

Price summary

  • Price:$1,295,000
  • Price per sq. ft.:$222.74

About this home

Lender Owned Property! Rare R4-zoned redevelopment opportunity in the heart of Koreatown and the Mid-Wilshire area. This vacant, fire-damaged, and boarded-up property offers exceptional potential for restoration, conversion, or ground-up construction. The existing physical layout includes 22 rooms and 18 bathrooms, totaling approximately 5,814 sqft. on 8,010 sqft. lot. However, city records reflect 13 bedrooms and 5 bathrooms, and the Buyer is strongly advised to independently verify all permits, room/bath counts, square footage, zoning, and any unpermitted improvements. The property is located in a prime high-density residential zone (R4), allowing for multifamily or mixed-use development an opportunity rarely available in this sought-after Los Angeles location. Enjoy excellent walkability near Wilshire Blvd., shopping, dining, and public transit. The property is also located within the prestigious 3rd Street Elementary School District, adding long-term value and desirability for

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Home facts

  • Year built:1920
  • Listing ID #:25626317
  • Added:9 day(s) ago
  • Updated:December 18, 2025 at 11:44 AM

Rooms and interior

  • Bedrooms:22
  • Total bathrooms:18
  • Living area:5,814 sq. ft.

Structure and exterior

  • Year built:1920
  • Building area:5,814 sq. ft.
  • Lot area:0.18 Acres

Utilities

  • Water:Public

Finances and disclosures

  • Price:$1,295,000
  • Price per sq. ft.:$222.74
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