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$1,685,000

Est. payment - /mo

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3 Beds

3 Baths

1,888 SqFt

New

245 N Gramercy Pl Los Angeles, CA 90004

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

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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 $892

MLS Listing ID 26862911

Style Craftsman

Bedrooms 3

Full Baths 2

Half Baths 1

HOA Y/N No

Year Built 1918

Lot Size 6,886 Sqft

Acres 0.1581

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 Hancock Park-Wilshire

Zoning LAR3

Rooms

Other Rooms Other

Dining Room 1

Interior

Heating Wall

Cooling None

Flooring Other

Fireplaces Type Other

Equipment Other

Laundry None

Exterior

Parking Features Driveway

Garage Spaces 4.0

Pool None

View Y/N Yes

View Other

Building

Lot Description Single Lot

Story 1

Architectural Style Craftsman

Level or Stories One

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Kidder Mathews of California, Inc.

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