427 S Gramercy Place, Los Angeles, CA 90020
Single-family home
Sold January 2026
Listing Agent: Julie Lee (DRE #00977271) · Listing Office: I&J Properties · Contact: 213-718-3333 · Bought with: Peter Paik · Epique Realty · MLS #25626317 · Source: CRMLS
How this sale compares
427 S Gramercy Place sold for $1,200,000 in January 2026, 7.3% under its $1,295,000 list price, after 6 days on the market. That works out to $206 per square foot on 5,814 square feet. Across 44 closed sales in 90020 over the last 12 months, the median sold price is $860,500 and the median is $584 per square foot, 183% above this sale's $206.
| Quarter | Closed sales in 90020 | Median sold price |
|---|---|---|
| Q1 2026 | 9 | $631,000 |
| Q2 2026 | 18 | $875,000 |
| Q3 2026 | 15 | $871,000 |
| Q4 2026 | 2 | $812,500 |
Figures are MLS-reported closed sales (CRMLS); ZIP medians cover the last 12 months. Nalren does not estimate values. Recently sold in Los Angeles · Homes for sale in 90020
Description
Lender Owned Property! Rare R4-zoned redevelopment opportunity in the heart of Koreatown and the Mid-Wilshire area. This vacant, fire-damaged, and boarded-up property offers exceptional potential for restoration, conversion, or ground-up construction. The existing physical layout includes 22 rooms and 18 bathrooms, totaling approximately 5,814 sqft. on 8,010 sqft. lot. However, city records reflect 13 bedrooms and 5 bathrooms, and the Buyer is strongly advised to independently verify all permits, room/bath counts, square footage, zoning, and any unpermitted improvements. The property is located in a prime high-density residential zone (R4), allowing for multifamily or mixed-use development an opportunity rarely available in this sought-after Los Angeles location. Enjoy excellent walkability near Wilshire Blvd., shopping, dining, and public transit. The property is also located within the prestigious 3rd Street Elementary School District, adding long-term value and desirability for future redevelopment. All information provided is deemed reliable but not guaranteed by Seller or Brokers. Buyer must conduct a full independent investigation of all permits, records, zoning, square footage, property condition, and all matters related. Seller may consider providing private financing to qualified buyers.
Listing description from the January 2026 sale, as reported to CRMLS.
Sale history
Recent sales near 427 S Gramercy Place
433 S Wilton Place: Sold $1,300,000 · 6 bd · 4 ba · 2,816 sqft · Jul 2026 · 0.1 mi
GAIA | DRE #02044611
Buyer's agent: H. Jason Yang, GAIA | DRE #020446114255 W 5th 101: Sold $375,000 · 1 bd · 1 ba · 529 sqft · Apr 2026 · 0.1 mi
CENTURY 21 EXPERIENCE | DRE #00910360
Buyer's agent: Katy Parsons, NONMEMBER MRML | DRE #01301107416 S Van Ness Avenue: Sold $2,088,200 · 4 bd · 3 ba · 3,306 sqft · Aug 2026 · 0.1 mi
Keller Williams Larchmont | DRE #01489175
Buyer's agent: Subscriber Non, Non-Participant Office | DRE #13252333 S Wilton Place 2: Sold $900,000 · 2 bd · 2 ba · 1,478 sqft · Jan 2026 · 0.1 mi
Compass | DRE #01952539
Buyer's agent: Anthony Mian, Douglas Elliman | DRE #02000632421 S Van Ness: Sold $1,085,000 · 3 bd · 3 ba · 1,960 sqft · Aug 2026 · 0.1 mi
Team Spirit Realty, Inc. | DRE #01753820
Buyer's agent: Mike Yim, Team Spirit Realty, Inc. | DRE #01753820421 S Van Ness Avenue 3: Sold $1,020,000 · 3 bd · 3 ba · 1,960 sqft · Apr 2026 · 0.1 mi
Sky Commercial Realty | DRE #01725217
Buyer's agent: Kyung Li Kim, Dream Realty & Investments Inc | DRE #02044016421 S Van Ness 6: Sold $888,000 · 2 bd · 3 ba · 1,597 sqft · Jan 2026 · 0.1 mi
Nexteam Real Estate | DRE #01812590
Buyer's agent: Tom-Chang Kim, Mega Realty | DRE #01351524533 S St Andrews Place 318: Sold $410,000 · 1 bd · 1 ba · 824 sqft · Oct 2026 · 0.2 mi
Closed sales reported in 90020, nearest first, last 12 months. All recent sales in Los Angeles →