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A Tale of Two Country Club Park Homes

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A reader pointed out these two homes currently for sale across the street from one another in Country Club Park, one of which is a bank-owned property. A historic preservationist by trade, the reader notes "your money gets you quite a bit in these marginally sketch/nice areas now." And indeed Country Club Park is still a bit of both. The three-bedroom, two-and-a-half bath house at 1101 Gramercy Drive is a remodeled Craftsman and includes a fireplace in the living room, hardwood floors, a formal dining room, and a master bedroom with a balcony. Last sold in Feb 2003 for $485,000, today's asking price, is $845,000. Meanwhile, across the street at 1059 S Gramercy Dr is a "charming country English w/redone kitchen and baths." The five bedroom, three bath house also has hardwood floors, double sinks and a spa tub. The sales history is now a common story of flipping and foreclosure throughout the past four years. In 2005 it sold for $905,000, then it sold a year later for $1.4 million, and again in 2008 to Bear Stearns for over $1.102 million. And today's asking price: $799,500.
· 1101 S Gramercy Drive, Los Angeles CA 90019 [Redfin]
· 1059 S Gramercy Dr Los Angeles, CA 90019 [Redfin]