1624 S Gramercy, Los Angeles, California 90019, Los Angeles, 90019 - 5 bed, 3 bath
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Los Angeles, California 90019
This property represents a High-Potential Investment Opportunity with a List Price of $1,325,000, positioned at its $1,325,000 Fair Market Value. Currently in Non-Habitable Condition with known foundation and roof issues, the primary value lies in the expansive 8,925 sqft lot and rare 6-unit development potential. Situated within the Los Angeles Unified district near USC and DTLA, the site offers significant forced appreciation through density maximization. This strategic asset is an ideal acquisition for Developers or Fix-and-Flip Investors targeting the high-demand 90019 zip code.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1624 S Gramercy Subject | $1,325,000* List Price | 5 | 3 | 3,016 | $439 | - |
A 1023 S Wilton Place Active | $1,390,000 List Price | 7 | 7 | 2,660 | $523 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1907, this property is explicitly described as a 'complete fixer' in 'non-habitable condition' with known foundation issues and a roof requiring replacement. Given its age (117 years), the lack of recent renovations, and the listing's heavy emphasis on the 8,925 sqft lot's potential for developing up to six units, the value is primarily in the land and development opportunity rather than the existing structure.
The property offers a rare opportunity to develop up to six units on a spacious lot, providing significant upside for investors looking to maximize density in a high-demand area.
Situated in the highly desirable 90019 zip code, the home boasts excellent proximity to USC, Downtown Los Angeles, and major freeways, ensuring strong long-term appeal.
The expansive 8,925 square foot lot is significantly larger than many neighboring parcels, offering ample space for multi-unit construction or a large-scale residential estate.
The property has known foundation issues, which are costly to remediate and may complicate securing traditional financing for some buyers.
Requiring a new roof and a total interior overhaul, the home is in non-habitable condition and demands a significant capital expenditure budget.
At a list price of $1.325M for a complete fixer with structural concerns, the initial acquisition cost leaves a narrower margin for error regarding renovation costs and market fluctuations.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 90% |
| Baths | 3.0 | 2.0 | 56% |
| Square foot | 3,016 | 1,742 | 90% |
| Lot Size | 8,925 | 6,377 | 93% |
| Price | $1.32M | $1.32M | 50% |
| Price per sq ft | $439 | $762 | 7% |
| Built year | 1907 | 1926 | 5% |
| HOA | $0 | $0 | 50% |
| Days on market | 159 | 180 | 34% |
Nov 14, 2025
$1,325,000
Initial Listing
May 9, 2017
$900,000
Public Record