REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Rachell Lara

rachell@laraandco.com +1(619) 316-7445

$ 1,595,000

Est. payment | -/mo

3 Beds

3 Baths

1,888 SqFt

Save

$ 1,595,000

Est. payment | -/mo

Save

3 Beds

3 Baths

1,888 SqFt

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,888 sqft

Price per Sqft $844

MLS Listing ID 26862911

Bedrooms 3

Full Baths 2

Half Baths 1

HOA Y/N No

Year Built 1918

Lot Size 6,886 Sqft

Lot Dimensions Assessor

Property Sub-Type Single Family Residence

Property Description

We are pleased to present 245 N Gramercy Pl, an exceptional value-add opportunity located in the highly sought-after neighborhood of Larchmont Village. Whether you're an experienced investor, renovation specialist, or an owner-user looking to create your forever home, this property offers a rare chance to reimagine a classic residence in one of Los Angeles' most desirable neighborhoods. Situated on a generous 6,886 square foot lot, the property currently consists of a 3-bedroom, 2.5-bathroom single-family residence totaling approximately 1,888 square feet. While the home requires a comprehensive renovation, its existing footprint, lot size, and desirable location provide the ideal foundation for a transformative project. Buyers will have the opportunity to restore its original character while incorporating today's modern finishes, floor plan preferences, and design elements to create a truly one-of-a-kind residence. To further enhance the opportunity, the Seller has ready-to-issue permit & plans available to, without moving walls, efficiently transform the existing home into a stunning 4-bedroom, 4-bathroom residence. These plans present a compelling option for buyers seeking a larger family home, a co-living investment, or housing for transitional or sober living (subject to buyer verification and all applicable regulations). The property's favorable lot configuration and driveway access also provide the opportunity to construct a 2-bedroom, 2-bathroom Accessory Dwelling Unit (ADU) that also already has its own ready-to-issue permit & plans. An ADU could provide additional living space for multigenerational households, a guest house, home office, or supplemental rental income while preserving valuable onsite parking. Ideally positioned just moments from the shops, restaurants, cafs, and weekly farmers market of Larchmont Village, the property also offers convenient access to Hollywood, Koreatown, Hancock Park, Beverly Grove, Downtown Los Angeles, and Beverly Hills. Opportunities to acquire and renovate a single-family home in such a premier central Los Angeles location are increasingly scarce, making 245 N Gramercy Pl an outstanding opportunity for buyers looking to create substantial value in a neighborhood with enduring demand. Contact listing broker for additional information.

Location

State CA

County Los Angeles

Area C18 - Hancock Park-Wilshire

Zoning LAR3

Interior

Heating Wall Furnace

Cooling None

Furnishings Unfurnished

Fireplace No

Laundry None

Exterior

Parking Features Driveway

Pool None

View Y/N Yes

Total Parking Spaces 4

Private Pool No

Building

Story 1

Entry Level One

Architectural Style Craftsman

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5516019002

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Casey Lins Kidder Mathews of California, Inc. #01902650

NEARBY SCHOOL & BUSINESS

+1(619) 316-7445

rachell@laraandco.com

1420 Kettner Blvd. # 100, Diego, CA 92101, USA

GET MORE INFORMATION

San Diego Cities & Communities

245 N Gramercy PL Los Angeles, CA 90004