244 S Gramercy Place, Los Angeles, California 90004, Los Angeles, 90004 - 3 bed, 2 bath
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Los Angeles, California 90004
This Single Family Residence represents a High-Potential Investment Opportunity, listed at $2,300,000—positioned well above the $1,959,653 Fair Market Value by -17%. While the list price exceeds current estimates, the property features a Condition Rating of 2, reflecting a complete modern reconstruction with high-end finishes. Situated on a generous 7,508 sqft lot in a prestigious Hancock Park-adjacent location, it offers significant expansion potential. Zoned for Top-Rated Schools like Third Street Elementary, this asset is best suited for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey, high-status property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 244 S Gramercy Place Subject | $2,400,000* List Price | 3 | 2 | 1,560 | $1,335 | - |
A 337 N Beachwood Sold | $1,800,000 | 3 | 3 | 1,668 | $1,079 | 0.8 mi |
B 238 N Gower Street Sold | $2,800,000 | 4 | 4 | 1,979 | $1,415 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1911, the property has clearly undergone a complete modern reconstruction or total renovation within the last 5 years, as evidenced by the contemporary architecture and 2021 sales history. It features mint-condition finishes, modern systems, and high-end curb appeal.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7508, living area = 1560.
Located in the highly desirable Hancock Park-Wilshire area, this property offers a prime central Los Angeles address known for its historic charm and proximity to upscale amenities.
The property sits on a substantial 7,508-square-foot lot, providing significant outdoor space and excellent potential for future expansion or the addition of an Accessory Dwelling Unit (ADU).
As a short sale subject to bank approval, the transaction involves a high degree of uncertainty and a potentially lengthy closing timeline compared to traditional sales.
The property is currently tenant-occupied with restricted access, which complicates the inspection process and may present legal or logistical hurdles for buyers intending to occupy the home.
Tenant occupied- Do not disturb tenants.this is a short sale , subject to bank approval
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.7 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 43% |
| Baths | 2.0 | 4.0 | 30% |
| Square foot | 1,560 | 2,338 | 9% |
| Lot Size | 7,508 | 7,009 | 61% |
| Price | $2.40M | $1.94M | 59% |
| Price per sq ft | $1.5K | $975 | 98% |
| Built year | 1911 | 1923 | 5% |
| HOA | $0 | $0 | 50% |
| Days on market | 24 | 152 | 2% |
Jun 4, 2026
$2,400,000
$2,300,000
+4% Price Increase
Initial Listing
May 13, 2026
$2,300,000
Initial Listing
Jul 23, 2021
$2,360,000
Public Record
Sep 17, 2019
$880,000
Public Record