427 Gramercy, Los Angeles CA 90020 | $1,299,000

Lender Owned Property!!! Rare R4-zoned redevelopment opportunity in the heart of Koreatown and Mid-Wilshire area. This vacant, fire-damaged, and boarded-up property offers tremendous potential for restoration, conversion, or new construction. The existing structure features 13 rooms and 5 bathrooms, totaling approximately 5,814 sq.ft., situated on a 7,996 sq.ft. lot with wood-frame construction. Zoned R4, the site supports high-density residential or mixed-use developmentan opportunity rarely available in this prime area of Los Angeles. Enjoy excellent walkability (Walk Score 94) near Wilshire Blvd, shopping, dining, and public transit.Located within prestigious 3rd Street Elementary School District, adding long-term value and desirability. All information regarding the property is not guaranteed by Seller or Brokers. Buyer must conduct a full independent investigation of all permits, zoning, square footage, property condition, and all matters related thereto prior to purchase. Offer subject to interior inspection. PEAD form (see DOCS section) must be completed and submitted. Seller may consider providing private financing to qualified buyers.

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