724 S Gramercy Drive, Los Angeles, California 90005, Los Angeles, 90005 - 4 bed, 2 bath
ACTIVE$1,650,000$1,622/sqft
Est. Value: $1,569,252
-4%
AboveEstimate
724 S Gramercy Drive, Los Angeles, California 90005
4Beds
2Baths
1,622Sqft
6,250Lot
Price Vs. Estimate
The estimated value ($1,569,251.8) is $80,748.2 (4%) lower than the list price ($1,650,000). This property may be overpriced.
Key pros and cons
Top Pros:
Remodeled Condition: The property has been recently remodeled with attention to detail, offering a modern and updated living space.
Top Cons:
Historic Property Age: Built in 1923, the property's age, despite remodeling, may present underlying infrastructure considerations or maintenance typical of older homes.
Compared to the nearby listings
Price:$1.65M vs avg $2.45M ($-800,000)22%
Size:1,622 sqft vs avg 3,142 sqft11%
Price/sqft:$1.0K vs avg $94367%
More Insights
Built in 1923 (103 years old).
Condition: Despite being built in 1923, this property has undergone an extensive and high-quality renovation, as explicitly stated in the description ('Remodeled in Mid-Wilshire! Attention to detail'). The kitchen features new light grey shaker cabinets, white quartz countertops with a matching backsplash, and modern stainless steel appliances, including a French-door refrigerator. The bathrooms are equally updated with new vanities, gold fixtures, and clean tile work. Throughout the home, there are new hardwood floors, fresh paint, and modern light fixtures. The presence of a 'split system cooling and heating' further indicates significant recent upgrades, bringing the property to current quality standards with virtually new components and no visible deferred maintenance.
Year Built
1923
Close
-
List price
$1.65M
Original List price
$1.65M
Price/Sqft
$1,017
HOA
-
Days on market
-
Sold On
-
MLS number
SR25280590
Home ConditionExcellent
Features
View-
About this home
Remodeled in Mid-Wilshire! Attention to detail in this stunning single story, 4 +2 within walking distance of shops/restaurants. Gated. Split system cooling and heating. Furniture included in sale without warranty, just bring your suitcase and move right in! Proximity to local amenities and easy access to transportation presents investment opportunity for developers! Buyer to verify all zoning and TOC guidelines with LADBS. Do not miss this prime opportunity.
R
Rene Succa-Ruston
Listing Agent
Condition Rating
Excellent
Despite being built in 1923, this property has undergone an extensive and high-quality renovation, as explicitly stated in the description ('Remodeled in Mid-Wilshire! Attention to detail'). The kitchen features new light grey shaker cabinets, white quartz countertops with a matching backsplash, and modern stainless steel appliances, including a French-door refrigerator. The bathrooms are equally updated with new vanities, gold fixtures, and clean tile work. Throughout the home, there are new hardwood floors, fresh paint, and modern light fixtures. The presence of a 'split system cooling and heating' further indicates significant recent upgrades, bringing the property to current quality standards with virtually new components and no visible deferred maintenance.
Pros & Cons
Pros
Remodeled Condition: The property has been recently remodeled with attention to detail, offering a modern and updated living space.
Prime Location & Walkability: Situated in Mid-Wilshire, it boasts excellent walkability to shops and restaurants, with easy access to transportation.
Modern HVAC System: Equipped with a split system for both cooling and heating, ensuring year-round comfort and energy efficiency.
Turnkey & Furnished: Offered with furniture included, making it a convenient, move-in ready option for immediate occupancy.
Development Potential: The property is highlighted as an investment opportunity for developers, suggesting potential for future expansion or redevelopment.
Cons
Historic Property Age: Built in 1923, the property's age, despite remodeling, may present underlying infrastructure considerations or maintenance typical of older homes.
Developer Due Diligence Required: The onus is on the buyer to verify all zoning and TOC guidelines for development, indicating potential complexities or unconfirmed development feasibility.
Lack of Specific Views: The property description indicates 'None' for views, which might be a drawback for buyers seeking scenic vistas in a Los Angeles property.