3846 S Gramercy Place, Los Angeles, California 90062, Los Angeles, 90062 - 0 bed, 0 bath
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Los Angeles, California 90062
This Quadruplex Residential Income property is a High-Potential Investment Opportunity, listed at $925,000—positioned well below the $926,618 Fair Market Value by 0.18%. Featuring a Fair Condition Rating, the asset offers immediate cash flow via a rent-ready vacant unit and significant upside through market-rate lease adjustments. With in-unit laundry and garage parking, this property provides essential tenant amenities in a high-demand area. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a stable, income-generating asset with long-term appreciation potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3846 S Gramercy Place Subject | $925,000* List Price | 0 | 0 | 3,200 | $290 | - |
A 3959 S St Andrews Sold | $910,000 | 0 | 0 | 3,604 | $252 | 0.3 mi |
B 1826 W 46th St Sold | $650,000 | 4 | 2 | 2,300 | $283 | 1.0 mi |
C 1614 W 39th Place Active | $1,199,000 List Price | 0 | 0 | 3,296 | $364 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1918, this century-old quadruplex is functional and described as 'rent-ready,' but it is significantly dated. Given the age and lack of documented recent renovations to major systems or kitchens/baths, the property likely requires cosmetic updates and minor repairs to achieve its full market-rate potential.
The property is delivered with one rent-ready vacant unit, making it an ideal opportunity for an owner-occupier or an investor to secure immediate market-rate rental income.
With the remaining units currently performing below market rates, the asset offers substantial long-term appreciation and rent growth potential as leases are normalized.
The inclusion of in-unit laundry, private porches, and a garage with additional driveway parking provides a competitive edge in the local rental market, aiding in tenant retention.
Originally built in 1918, the property may require higher ongoing maintenance and potential capital expenditures for aging systems or structural updates common in century-old buildings.
With a 3,200 sqft building on a 3,388 sqft lot, there is very limited common outdoor space or yard area, which may be a drawback for tenants seeking exterior lifestyle amenities.
Discover a prime investment opportunity at 3846 S Gramercy Place. This four-plex features spacious one-bedroom layouts, including the highly coveted tenant conveniences of in-unit laundry, ground level porches, and second-story enclosed verandas. The property will be delivered with one rent-ready vacant unit, providing the perfect setup for an owner-occupier or an investor ready to capture immediate market-rate rent. With the remaining units currently below market, the new owner is positioned for significant long-term rent growth and appreciation, even without immediate major renovations. Gramercy Place delivers with a garage plus additional driveway spaces. Whether you are looking for a stable addition to your portfolio or a home-plus-income, this property offers a blend of immediate utility and future upside.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 5.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 3,200 | 2,250 |
| Lot Size | 3,388 | 5,864 |
| Price | $925.0K | $826.7K |
| Price per sq ft | $289 | $395 |
| Built year | 1918 | 1925 |
| HOA | $0 | $0 |
| Days on market | 7 | 83 |
Jul 15, 2026
$925,000
Initial Listing
Apr 28, 2006
$177,000
Public Record
Dec 21, 2001
$177,000
Public Record