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$1,200,000
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Property 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, 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.
Full Property Details
Full Property Details for 427 S Gramercy Pl
General
- Sold For: $1,200,000
- Status: Closed
- Type: Single Family
- Source: CLAW
- MLS ID: 25626317
- Added to Site: 90 day(s) ago
Interior
- Rooms/Areas: Living Room
- Fireplace: Yes
- Number of Fireplaces: 1
- Furnishings: Unfurnished
- Flooring: Mixed
Rooms
Bathrooms
- Total Bathrooms: 18
- 3/4 Bathrooms: 18
Bedrooms
- Total Bedrooms: 22
Other Rooms
- Laundry: None
Additional Information
- Pool Description: None
- Spa Description: None
- Security/Safety: Gated
- Other Features: None
Parking
- Garage Description: Driveway
Location
- Area: Hancock Park-Wilshire
- County: Los Angeles
- Driving Directions: The property is located on the west side of the street between 4th and 5th Streets in the Koreatown/Wilshire area.
Heating & Cooling
- Cooling Type: None
- Heating Type: None
Utilities
- Water: District
Structural Information
- Structure Type: Single Family Residence
- Common Walls: Detached/No Common Walls
- Entry Location: Main Level
- Stories/Levels: 2
- Square Feet: 5,814
- Sq. Ft. Source: Vendor Enhanced
- Year Built: 1920
- Year Built Source: Vendor Enhanced
- Property Condition: Fixer
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.1839
- Lot Size: 8010
- Lot Size Source: Vendor Enhanced
- Lot Dimensions: 50 x 160
- Zoning: LAR4
- Lot Description: 5 + Lots, Back Yard, Fenced
Financial Considerations
- Price Per Sq. Ft.: $222.74
- Assessment Year: 1920
Disclosures and Reports
- Inclusions: None. Property is sold "as-is" in its current condition.
- Disclosures/Reports: As Is
- APN: 5504-025-017
Listed by I&J Properties, Julie Lee
Sold by Epique Realty, Peter Paik
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Schools
Schools serving 427 S Gramercy Pl
School District:Los Angeles Unified School District
| Name | Grades | Distance |
|---|---|---|
Third Street Elementary School 201 South June Street, Los Angeles, CA 90004 | K-5 | 1.3 mi |
John Burroughs Middle School 600 McCadden Place, Los Angeles, CA 90005 | 7-8 | 1.3 mi |
Fairfax Senior High School 7850 Melrose Avenue, Los Angeles, CA 90046 | 9-12 | 2.9 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 427 S Gramercy Pl
Date
Details
Price
Change
Source
1/21/2026
Sold
$1,200,000
-7.34%
MLS
12/04/2025
Listed
$1,295,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
427 S Gramercy Pl, Los Angeles, CA 90020 (MLS# 25626317) is a Single Family property that was sold at $1,200,000 on January 21, 2026. Want to learn more about 427 S Gramercy Pl? Do you have questions about finding other Single Family real estate for sale in Hancock Park? You can browse all Hancock Park real estate or contact a Coldwell Banker agent to request more information.

