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3982 S Gramercy, Los Angeles, California 90062, Los Angeles, 90062 - bed, bath

3982 S Gramercy, Los Angeles, California 90062 home-pic-0
ACTIVE$849,999
3982 S Gramercy, Los Angeles, California 90062
0Bed
0Bath
3,372Sqft
9,819Lot
Year Built
1923
Close
-
List price
$850K
Original List price
$850K
Price/Sqft
$252
HOA
-
Days on market
-
Sold On
-
MLS number
PW25259008
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $850.0K(33th), sqft - 3372(78th), beds - undefined(50th), baths - undefined(50th).

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.

Price History

Date
Event
Price
11/14/25
Listing
$849,999
Condition Rating
Poor
Built in 1923, this property is over 100 years old. The images reveal extremely outdated kitchens and bathrooms, featuring original or very old cabinetry, linoleum flooring, basic fixtures, and small square wall tiles that appear to be 50+ years old. The property description explicitly states it's a 'value-add' opportunity requiring 'substantial capital investment for modernization, system upgrades, and addressing potential deferred maintenance.' While livable, it requires significant rehabilitation and extensive system replacements to meet current quality standards, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Investment Potential: Positioned as a 'value-add' quadruplex, offering significant future upside through strategic renovations, rent optimization, and long-range redevelopment.
Prime Los Angeles Location: Situated in the heart of Los Angeles, near public transit and major corridors, ensuring strong tenant demand and excellent accessibility.
Oversized Corner Lot: A generous 9,800+ sq ft corner lot with an adjacent alley provides enhanced privacy, flexible access, and potential for future expansion or development.
Established Income Property: A 4-unit residential income property (two duplex buildings) provides immediate and stable cash flow, appealing to investors seeking consistent returns.
Valuable Onsite Amenities: Includes multiple onsite parking spaces, a detached garage, and in-unit washer/dryer hookups for all units, highly desirable features in an urban market.

Cons

Property Age & Condition: Built in 1923, the property likely requires substantial capital investment for modernization, system upgrades, and addressing potential deferred maintenance.
Significant Renovation Required: The 'value-add' proposition implies the property is not turn-key and will demand considerable financial and time commitment for strategic improvements to realize its full potential.
Potential for Unexpected Costs: Given its age and the need for extensive renovation, there is an elevated risk of encountering unforeseen structural, plumbing, or electrical issues during the upgrade process.

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