We are pleased to present 245 N Gramercy Pl, an exceptional value-add opportunity located in the highly sought-after neighborhood of Larchmont Village. Whether you're an experienced investor, renovation specialist, or an owner-user looking to create your forever home, this property offers a rare chance to reimagine a classic residence in… Read More one of Los Angeles' most desirable neighborhoods. Situated on a generous 6,886 square foot lot, the property currently consists of a 3-bedroom, 2.5-bathroom single-family residence totaling approximately 1,888 square feet. While the home requires a comprehensive renovation, its existing footprint, lot size, and desirable location provide the ideal foundation for a transformative project. Buyers will have the opportunity to restore its original character while incorporating today's modern finishes, floor plan preferences, and design elements to create a truly one-of-a-kind residence. To further enhance the opportunity, the Seller has ready-to-issue permit & plans available to, without moving walls, efficiently transform the existing home into a stunning 4-bedroom, 4-bathroom residence. These plans present a compelling option for buyers seeking a larger family home, a co-living investment, or housing for transitional or sober living (subject to buyer verification and all applicable regulations). The property's favorable lot configuration and driveway access also provide the opportunity to construct a 2-bedroom, 2-bathroom Accessory Dwelling Unit (ADU) that also already has its own ready-to-issue permit & plans. An ADU could provide additional living space for multigenerational households, a guest house, home office, or supplemental rental income while preserving valuable onsite parking. Ideally positioned just moments from the shops, restaurants, cafs, and weekly farmers market of Larchmont Village, the property also offers convenient access to Hollywood, Koreatown, Hancock Park, Beverly Grove, Downtown Los Angeles, and Beverly Hills. Opportunities to acquire and renovate a single-family home in such a premier central Los Angeles location are increasingly scarce, making 245 N Gramercy Pl an outstanding opportunity for buyers looking to create substantial value in a neighborhood with enduring demand. Contact listing broker for additional information. Read Less
Courtesy of Kidder Mathews of California, Inc. 858-369-3010
Listing Snapshot
Days Online
7
Last Updated
Property Type
Single Family Residence
Beds
3
Full Baths
2
Partial Baths
1
Square Ft.
1,888
Lot Size
0.16 Acres
Year Built
1918
MLS Number
26862911
Additional Details
Appliances & Equipment
Other
Building
1,888 sq ft, Built in 1918, Levels: One Level, Detached/No Common Walls, Craftsman
Cooling
None
Disclosures
As Is
Fireplaces
Other
Floors
Other
Garage
Driveway
Heating
Wall
Laundry
None
Lot
LotAcreage: 0.1581, LotSizeArea: 6,886, LotSizeDimensions: 52x132, Single Lot
Parking
OpenOtherSpacesTotal: 4, TotalParking: 4
Pool
None
Property
OtherStructures: Other, PropertySubType: Single Family Residence, ViewDescription: Other, ViewYN: t, Zoning: LAR3
Spa
None
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