427 S Gramercy Pl

$1,295,000
Price
22
Beds
5,814 Sq. Ft.
$223 / Sq. Ft.
5,814
Sq. Ft.
$223
per Sq. Ft.

Description

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,...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 future redevelopment. All information provided is deemed reliable but not guaranteed by Seller or Brokers. Buyer must conduct a full independent investigation of all permits, records, zoning, square footage, property condition, and all matters related. Seller may consider providing private financing to qualified buyers.

Property Details for 427 South Gramercy Place

Water Front
None
Zoning
LAR4
Style
Unknown
Property Attached YN
false
Parcel Number
5504025017
Living Area
5814
Source Living Area
Vendor Enhanced
Area
Hancock Park (HPK)
LISTING UPDATED: 12/19/2025 04:41 AM

Property Details for 427 South Gramercy Place

StatusPending
MLS #25626317
Days on Market6
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeResidential / Single Family Residence
Year Built1920
Lot Size0.18 AC / 8,010 SF
CountyLos Angeles County

Location

Listing Courtesy of I&J Properties, Julie Lee, DRE #00977271
Add your commute

Building Information for 427 South Gramercy Place

Stories2Year Built1920Building Size-Lot Size0.18 AC / 8,010 SF

Payment Calculator

$7,421 per month

30 year fixed, 6.28% Interest

Principal and Interest

$6,399

Property Taxes

$1,022

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 427 South Gramercy Place

Community / Development
Community / Development
  • Tax Mello Roos: No
  • HOA: No
  • Senior Community: No
Structure Info
Structure Info
  • Building Type: Detached
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • View: No
  • View Description: None
  • View: None
  • Guest House: None
  • Planned Urban Dev: 0
  • Security Features: Gated
  • Property Condition: Fixer
  • Maids Room: false
  • Water: District
  • Water District: DWP
Contract Info
Contract Info
  • Probate: No
  • Lease Considered: No
  • Available For Lease: No
  • Lease Option: false
  • Financing: Cash, Other
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Land Lease Purchase: No
  • Horse: No
  • Additional Parcel Number: No
  • Lot Acreage: 0.1839
  • Lot Size Square Feet: 8010
  • Lot Size Dimensions: 50x160
  • Source Lot Size Dimensions: Vendor Enhanced
  • Lot Features: Back Yard
  • Lot Description: 5 + Lots, Back Yard, Fenced
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 0
  • Parking Features: Driveway
Interior Features
Interior Features
  • Room Type: Living Room
  • Rooms: Living Room
  • Levels: Two
  • Fireplace: Yes
  • Fireplaces: 1
  • Fireplace Features: Living Room
  • Fireplace Rooms: Living Room
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Furnished: Unfurnished
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Flooring: Mixed
  • Equipment: None
  • Bedroom Features: Multi-Level Bedroom
  • Common Walls: Detached/No Common Walls
  • Laundry: None
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Entry Location: Main Level
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 12-08-2025
  • Listing Terms: Cash

Property History for 427 South Gramercy Place

DateEvent & SourcePriceAppreciation
Dec 10, 2025

Pending

CLAW #25626317

—
Dec 10, 2025

Pending

CRMLS #25626317

—
Dec 10, 2025

Accepting Backup Offers

CLAW #25626317

—
Dec 10, 2025

Accepting Backup Offers

CRMLS #25626317

—
Dec 4, 2025

Listed (Active)

CLAW #25626317

$1,295,000—
Dec 4, 2025

Listed (Active)

CRMLS #25626317

$1,295,000—
Nov 18, 2025

Withdrawn / Cancelled

CLAW #25608107

—
Nov 18, 2025

Withdrawn / Cancelled

CRMLS #25608107

$1,299,000—
Oct 17, 2025

Listed (Active)

CLAW #25608107

$1,299,000—
Oct 17, 2025

Listed (Active)

CRMLS #25608107

$1,299,000—
Aug 9, 2010

Sold

CLAW #H10011293MR

$750,000—
Aug 9, 2010

Sold

CRMLS #H10011293

$750,000—
Jun 25, 2010

Sold (Public Record)

Public Record #291587764

$750,000—
Jun 24, 2010

Pending

CRMLS #H10011293

—
Jun 24, 2010

Pending

CLAW #H10011293MR

—
Feb 1, 2010

Listed (Active)

CRMLS #H10011293

$850,000—
Feb 1, 2010

Listed (Active)

CLAW #H10011293MR

$850,000—
Jan 31, 2010

Expired

CRMLS #H09092086

$850,000—
Jan 31, 2010

Expired

CLAW #H09092086MR

—
Aug 24, 2009

Listed (Active)

CLAW #H09092086MR

$1,088,000—
Aug 24, 2009

Listed (Active)

CRMLS #H09092086

$1,088,000—
Aug 20, 2009

Withdrawn / Cancelled

CRMLS #H09089780

$1,088,000—
Aug 20, 2009

Withdrawn / Cancelled

CLAW #H09089780MR

—
Aug 18, 2009

Listed (Active)

CRMLS #H09089780

$1,088,000—
Aug 18, 2009

Listed (Active)

CLAW #H09089780MR

$1,088,000—
Jul 22, 2009

Expired

CLAW #09-342261

$1,200,000—
Jun 1, 2009

Withdrawn / Cancelled

CRMLS #09368127

$1,200,000—
Jun 1, 2009

Withdrawn / Cancelled

CLAW #09-368127

—
May 5, 2009

Withdrawn / Cancelled

CLAW #09-358311

—
May 5, 2009

Withdrawn / Cancelled

CRMLS #09358311

$1,200,000—
Mar 26, 2009

Listed (Active)

CRMLS #09368127

$1,200,000—
Mar 26, 2009

Listed (Active)

CLAW #09-358311

$1,200,000—
Mar 26, 2009

Listed (Active)

CLAW #09-368127

$1,200,000—
Mar 26, 2009

Listed (Active)

CRMLS #09358311

$1,200,000—
Mar 25, 2009

Expired

CRMLS #09342261

$1,200,000—
Jan 22, 2009

Listed (Active)

CLAW #09-342261

$1,200,000—
Jan 22, 2009

Listed (Active)

CRMLS #09342261

$1,200,000—
DateEvent & SourcePrice
12/10/2025

Pending

CLAW #25626317

—
12/10/2025

Pending

CRMLS #25626317

—
12/10/2025

Accepting Backup Offers

CLAW #25626317

—
12/10/2025

Accepting Backup Offers

CRMLS #25626317

—
12/04/2025

Listed (Active)

CLAW #25626317

$1,295,000
12/04/2025

Listed (Active)

CRMLS #25626317

$1,295,000
11/18/2025

Withdrawn / Cancelled

CLAW #25608107

—
11/18/2025

Withdrawn / Cancelled

CRMLS #25608107

$1,299,000
10/17/2025

Listed (Active)

CLAW #25608107

$1,299,000
10/17/2025

Listed (Active)

CRMLS #25608107

$1,299,000
08/09/2010

Sold

CLAW #H10011293MR

$750,000
08/09/2010

Sold

CRMLS #H10011293

$750,000
06/25/2010

Sold (Public Record)

Public Record #291587764

$750,000
06/24/2010

Pending

CRMLS #H10011293

—
06/24/2010

Pending

CLAW #H10011293MR

—
02/01/2010

Listed (Active)

CRMLS #H10011293

$850,000
02/01/2010

Listed (Active)

CLAW #H10011293MR

$850,000
01/31/2010

Expired

CRMLS #H09092086

$850,000
01/31/2010

Expired

CLAW #H09092086MR

—
08/24/2009

Listed (Active)

CLAW #H09092086MR

$1,088,000
08/24/2009

Listed (Active)

CRMLS #H09092086

$1,088,000
08/20/2009

Withdrawn / Cancelled

CRMLS #H09089780

$1,088,000
08/20/2009

Withdrawn / Cancelled

CLAW #H09089780MR

—
08/18/2009

Listed (Active)

CRMLS #H09089780

$1,088,000
08/18/2009

Listed (Active)

CLAW #H09089780MR

$1,088,000
07/22/2009

Expired

CLAW #09-342261

$1,200,000
06/01/2009

Withdrawn / Cancelled

CRMLS #09368127

$1,200,000
06/01/2009

Withdrawn / Cancelled

CLAW #09-368127

—
05/05/2009

Withdrawn / Cancelled

CLAW #09-358311

—
05/05/2009

Withdrawn / Cancelled

CRMLS #09358311

$1,200,000
03/26/2009

Listed (Active)

CRMLS #09368127

$1,200,000
03/26/2009

Listed (Active)

CLAW #09-358311

$1,200,000
03/26/2009

Listed (Active)

CLAW #09-368127

$1,200,000
03/26/2009

Listed (Active)

CRMLS #09358311

$1,200,000
03/25/2009

Expired

CRMLS #09342261

$1,200,000
01/22/2009

Listed (Active)

CLAW #09-342261

$1,200,000
01/22/2009

Listed (Active)

CRMLS #09342261

$1,200,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 427 South Gramercy Place

Taxable ValueLand$576,524Additions$384,346Total$960,870
Tax Record2025$12,264 ($1,022 / month)
Home Facts
Total Finished SqFt5,814 SqFtAbove Grade Finished SqFt5,814 SqFtStories2Lot Size8,007 SqFtStyleMulti-Family Res (5+ Units)Year Built1920ZoningLAR4CountyLOS ANGELESAPN5504-025-017

Schools near 427 South Gramercy Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
Third Street Elementary School
PublicK to 5

Magnolia Science Academy 6 School
Charter6 to 8

Fairfax Senior High School
Public9 to 12

Vista Horizon Global Academy
CharterK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of I&J Properties, Julie Lee, DRE #00977271

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.