1624 S Gramercy, Los Angeles, California 90019, Los Angeles, 90019 - 5 bed, 3 bath
ACTIVE$1,325,000
1624 S Gramercy, Los Angeles, California 90019
5Beds
3Baths
3,016Sqft
8,925Lot
Price Vs. Estimate
The estimated value ($1,246,910.17) is $78,089.83 (5%) lower than the list price ($1,325,000). This property may be overpriced.
Key pros and cons
Top Pros:
Prime Location: Situated in a highly desirable 90019 zip code within Mid Los Angeles, offering excellent accessibility to major freeways, USC, and Downtown Los Angeles, ensuring strong long-term appeal.
Top Cons:
Extensive Renovation Required: Described as a 'Complete Fixer,' indicating the property requires comprehensive and significant renovation work throughout.
Compared to the nearby listings
Price:$1.32M vs avg $1.38M ($-57,500)45%
Size:3,016 sqft vs avg 1,781.5 sqft91%
Price/sqft:$439 vs avg $7979%
More Insights
Built in 1907 (118 years old).
Condition: This property, built in 1907, is explicitly described as a 'Complete Fixer' with 'known foundation issues' and requiring 'a new roof.' These are significant structural defects that necessitate substantial repairs and rehabilitation, aligning perfectly with the 'poor' condition criteria. The kitchen features outdated light wood cabinets, white tile countertops and backsplash, and older white appliances, indicating a need for a full renovation. While some rooms have newer laminate flooring, other areas show older hardwood that likely needs refinishing. The overall condition suggests the property is not move-in ready and requires a major investment to address both structural and aesthetic deficiencies.
Year Built
1907
Close
-
List price
$1.32M
Original List price
$1.32M
Price/Sqft
$439
HOA
-
Days on market
-
Sold On
-
MLS number
SR25260666
Home ConditionPoor
Features
View-
About this home
Complete Fixer – Great Investment Opportunity in Prime Mid Los Angeles. This two-story, 5-bedroom, 2.5-bath home offers incredible potential for investors and developers alike. Situated on a spacious lot in the highly desirable 90019 zip code, this property is a complete fixer—perfect for those looking to renovate or rebuild. With the ability to develop up to six units (buyer to verify), this site presents a rare chance to maximize value in a rapidly growing area. Conveniently located near major freeways, USC, and Downtown Los Angeles, the home provides excellent accessibility and strong long-term appeal. Please note: the property has known foundation issues and requires a new roof. Don’t miss this exceptional opportunity to transform a centrally located property in one of Los Angeles’ most sought-after neighborhoods.
Price History
Date
Event
Price
05/09/17
Sold
$900,000
Condition Rating
Poor
This property, built in 1907, is explicitly described as a 'Complete Fixer' with 'known foundation issues' and requiring 'a new roof.' These are significant structural defects that necessitate substantial repairs and rehabilitation, aligning perfectly with the 'poor' condition criteria. The kitchen features outdated light wood cabinets, white tile countertops and backsplash, and older white appliances, indicating a need for a full renovation. While some rooms have newer laminate flooring, other areas show older hardwood that likely needs refinishing. The overall condition suggests the property is not move-in ready and requires a major investment to address both structural and aesthetic deficiencies.
Pros & Cons
Pros
Prime Location: Situated in a highly desirable 90019 zip code within Mid Los Angeles, offering excellent accessibility to major freeways, USC, and Downtown Los Angeles, ensuring strong long-term appeal.
Significant Development Potential: The property offers the ability to develop up to six units (buyer to verify), presenting a rare and valuable opportunity for investors and developers to maximize value.
Spacious Lot Size: A generous 8925 sqft lot provides ample space for potential expansion, landscaping, or multi-unit development, enhancing its investment appeal.
Investment & Renovation Opportunity: Explicitly marketed as a 'Complete Fixer' and 'Great Investment Opportunity,' ideal for those looking to renovate, rebuild, or transform a centrally located property.
Large Existing Footprint: The existing 5-bedroom, 2.5-bath, 3016 sqft home provides a substantial base for a significant renovation project or conversion into multiple units.
Cons
Extensive Renovation Required: Described as a 'Complete Fixer,' indicating the property requires comprehensive and significant renovation work throughout.
Major Structural Issues: The property has known foundation issues and requires a new roof, which are costly and critical repairs that will necessitate substantial investment.
Age of Property: Built in 1907, the home is over a century old, suggesting potential for outdated systems (plumbing, electrical), lead paint, asbestos, and other age-related maintenance challenges beyond the stated issues.