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427 S Gramercy Place, Los Angeles CA 90020
California>Los Angeles>Westminster Square

427 S Gramercy PlaceLos Angeles, CA 90020

For Sale

$1,299,000

Smart Buyer Rebate $12,990

Lender Owned Property!!! Rare R4-zoned redevelopment opportunity in the heart of Koreatown and Mid-Wilshire area. This vacant, fire-damaged, and boarded-up property offers tremendous potential for restoration, conversion, or new construction. The existing structure features 13 rooms and 5 bathrooms, totaling approximately 5,814 sq.ft., situated on a 7,996 sq.ft. lot with wood-frame construction. Zoned R4, the site supports high-density residential or mixed-use developmentan opportunity rarely available in this prime area of Los Angeles. Enjoy excellent walkability (Walk Score 94) near Wilshire Blvd, shopping, dining, and public transit.Located within prestigious 3rd Street Elementary School District, adding long-term value and desirability. All information regarding the property is not guaranteed by Seller or Brokers. Buyer must conduct a full independent investigation of all permits, zoning, square footage, property condition, and all matters related thereto prior to purchase. Offer subject to interior inspection. PEAD form (see DOCS section) must be completed and submitted. Seller may consider providing private financing to qualified buyers.

Listed by Julie Lee

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License #00977271

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I&J Properties

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213-718-3333

Last updated October 19, 2025

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Source: CRMLS #25608107

Listing Facts

  • TypeSingle-family
  • NeighborhoodWestminster Square
  • Bedrooms13
  • Bathrooms5
  • Days on Prevu5
  • Size5,814 sqft
  • Price per sqft$223

Amenities

  • Parking

Location

Mortgage Calculator

Listing History

10/17/2025
Listed by I&J Properties
$1,299,000

Property Details for 427 S Gramercy Place

Association

Amenities

  • Community Features: Gated

Exterior

Construction

  • Property Condition: Fixer
  • Stories: 2
  • Stories Total: 2
  • Year Built: 1920
  • Architectural Style: Mid-Century Modern
  • Common Walls: No Common Walls
  • Construction Materials: Wood Siding
  • Entry Location: Main Level

Features

  • Direction Faces: East

Measurements

  • Building Area Total: 5,814
  • Lot Features: Back Yard
  • Lot Size Acres: 0.18
  • Lot Size Area: 8,010
  • Lot Size Dimensions: 50,160
  • Lot Size Square Feet: 8,010
  • Lot Size Units: Square Feet

Financial

Taxes

  • Parcel Number: 5504025017

Interior

Features

  • Fireplace Features: Living Room
  • Fireplace: Yes

Measurements

  • Living Area: 5,814

Rooms

  • Bathrooms Full: 5
  • Bathrooms Total Integer: 5
  • Bedrooms Total: 13

Other

General

  • Exclusions: All personal property, debris, and any remaining building materials or fixtures on site.

Parking

Parking

  • Parking Features: Driveway

Utilities

Equipment

  • Heating: Forced Air
  • Has Heating: Yes
  • Laundry Features: See Remarks
  • Sewer: Other
  • Water Source: Public

Based on information from California Regional Multiple Listing Service, Inc. and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Prevu or the MLS. Information is provided exclusively for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.