3982 S Gramercy, Los Angeles, California 90062, Los Angeles, 90062 - 0 bed, 0 bath
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Los Angeles, California 90062
This Value-Add Quadruplex is a strategic Asset listed at $849,999. While the list price is positioned above the $726,960 Fair Market Value, the valuation is supported by the oversized 9,819 sq ft corner lot and its significant redevelopment potential. The property currently holds a Condition Rating of 5, necessitating a full-scale rehabilitation of the 1923 infrastructure. The expansive lot, detached garage, and alley access provide a clear pathway for ADU expansion and long-term forced appreciation. This project is an ideal acquisition for Buy-and-Hold Investors or Contractors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3982 S Gramercy Subject | $849,999* List Price | 0 | 0 | 3,372 | $216 | - |
A 3877 Denker Avenue Sold | $1,025,000 | 0 | 0 | 3,770 | $272 | 0.5 mi |
B 1802 W 49th Street Sold | $699,000 | 0 | 0 | 2,484 | $281 | 0.9 mi |
C 1802 W 49th Street Sold | $699,000 | 6 | 3 | 2,484 | $281 | 0.9 mi |
D 1826 W 46th St Active | $669,999 List Price | 4 | 2 | 2,300 | $291 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
This 1923-built 4plex is explicitly marketed as a 'value-add' investment requiring strategic renovations and significant capital expenditure. The century-old infrastructure, including likely outdated electrical and plumbing systems, combined with the need for interior modernization of kitchens and bathrooms, aligns with the poor condition category requiring substantial rehabilitation.
The oversized 9,800+ sq ft corner lot with alley access offers rare redevelopment or ADU expansion opportunities in a high-demand Los Angeles submarket.
All four units feature 2-bedroom, 1-bathroom layouts with individual laundry hookups, providing a competitive edge in the rental market and attracting stable, long-term tenants.
Priced specifically for investors, the property allows for substantial equity growth through interior renovations and rent optimization to meet current market rates.
Built in 1923, the property likely requires significant capital expenditure for system upgrades, including plumbing, electrical, and structural maintenance typical of older raised foundations.
As a value-add asset, the property will require immediate and potentially heavy investment to address deferred maintenance and modernize units before achieving peak rental income.
Opportunity knocks for savvy investors: this value-add 4plex in the heart of Los Angeles is priced to GO! This 4-unit, single-level property sits on an oversized 9,800+ sq ft corner lot with adjacent alley, creating a peninsula lot. There are two duplex buildings totaling ~3,372 sq ft, open areas, multiple onsite parking spaces plus a detached garage. All four units are 2 bedrooms, 1 bath, each with washers/dryer hookups and raised-foundation construction. The zoning provides multiple pathways for future upside, whether through strategic renovations, rent optimization, or long-range redevelopment. Located near public transit and major corridors this asset offers both immediate stability and significant long-term potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,372 | 2,484 | 91% |
| Lot Size | 9,819 | 5,758 | 95% |
| Price | $850.0K | $862.5K | 41% |
| Price per sq ft | $252 | $361 | 14% |
| Built year | 1923 | 1923 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 159 | 225 | 27% |
Nov 14, 2025
$849,999
Initial Listing