4811 S Gramercy Pl · Los Angeles, CA 90062

$899,999

4 bd · 1.0 ba · 3,788 sqft · MultiFamily public records · 118 Days on market

Built 1911 6,502 sqft lot $238/sqft · 9% below area Est $1124k · 20% under ↓ 18% since listing

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• 1% rule +4.4/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

MAJOR PRICE IMPROVEMENT STRATEGIC VALUE-ADD OPPORTUNITY: Unlock substantial equity with this high-upside 1911 Craftsman triplex, spanning approximately 4,308 sq ft of living area on a prime 6,502 sq ft LAR4-zoned lot. This transparent, no-frills probate sale is priced to move, specifically accounting for the cosmetic updates needed to capture a healthy spread between acquisition and market value. Offering the rare advantage of flexible occupancy, it can be delivered vacant, investors can bypass tenant buyouts and move straight to a total rental reset or renovation at 2026 market rates. With its classic architectural "bones, " multiple structures, and high-density development potential per the LAR4 zoning (Buyer to verify), this property is a cornerstone asset positioned near major transit and employment corridors. Sold strictly as-is and subject to court confirmation, this is a clear-cut opportunity for a professional investor to reposition a large-scale multi-unit asset in a supply-constrained neighborhood; the estate is motivated and ready to review serious offers.

Key facts

• Zoned lar4
• Multi unit property
• Craftsman style

Tags

• CRAFTSMAN STYLE
• MULTI UNIT PROPERTY
• CHARACTER RICH ARCHITECTURE
• FLEXIBLE UNIT LAYOUTS
• ZONED LAR4
• EXPANSION POSSIBILITIES

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/0.7-bath units multifamily listed at $900k.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive. Per door: $152/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $848k (5.7% below list).
• Recommended offer: $819k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, schools D+, crime F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+14.5%/yr); 86 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $8,484/mo this rent would consume 150% of the median local household income ($68k/yr) (locally 1890% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($819k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $400k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $818,999 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.18%
• DSCR: 1.10
• GRM: 8.8

CMA / ARV

• ARV (median comp): $1,123,681
• List price: $899,999
• Delta: -19.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1549 W 54th St	0.71mi	4/4.0	3,478 (-8%)	16mo	$865,000	$249	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.72×
• Total profit: $-71,748
• Equity at exit: $134,193

10-year hold

• IRR: 7.7%
• Equity multiple: 1.71×
• Total profit: $179,660
• Equity at exit: $77,815

Cash invested: $252,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 90062

• Rents YoY: 14.5%
• Active inventory: 86
• Price-to-rent: 26.5×

Monthly cashflow live

• Estimated rent: $8,484 high
• Mortgage (P&I): −$4,720
• Tax from tax record: −$1,151 /mo · $13,807/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,782
• Net cashflow: $457

Break-even live

Break-even rent $7,905

Max offer price $899,999

Occupancy floor 90%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	0.7	$8,484
Total (3 units)			$8,484

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $225,000
• Closing costs: $27,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4284 S Hobart Blvd Los Angeles, CA	3.0	1.0	3040	$3,300	$1.09	43d	1	0.51mi
4240 Denker Ave Los Angeles, CA	4.0	3.0	2684	$3,025	$1.13	7d	1	0.71mi
5357 S Victoria Ave Los Angeles, CA	4.0	3.5	3925	$7,950	$2.03	43d	1	1.16mi
3659 Aureola Blvd View Park, CA	5.0	4.5	4662	$9,700	$2.08	43d	1	1.39mi

Listing history 18 events

1. 2026-06-18
   days on market $899,999 Active 118 DOM
2. 2026-06-17
   days on market $899,999 Active 117 DOM
3. 2026-06-16
   days on market $899,999 Active 116 DOM
4. 2026-06-15
   days on market $899,999 Active 115 DOM
5. 2026-06-13
   days on market $899,999 Active 113 DOM
6. 2026-06-09
   days on market $899,999 Active 109 DOM
7. 2026-06-08
   days on market $899,999 Active 108 DOM
8. 2026-06-07
   days on market $899,999 Active 107 DOM
9. 2026-06-04
   days on market $899,999 Active 104 DOM
10. 2026-06-03
    days on market $899,999 Active 103 DOM
11. 2026-06-02
    days on market $899,999 Active 102 DOM
12. 2026-06-01
    days on market $899,999 Active 101 DOM
13. 2026-05-31
    days on market $899,999 Active 100 DOM
14. 2026-04-28
    price $899,999 1094-char remark

    Show marketing remark (1094 chars)

    MAJOR PRICE IMPROVEMENT STRATEGIC VALUE-ADD OPPORTUNITY: Unlock substantial equity with this high-upside 1911 Craftsman triplex, spanning approximately 4,308 sq ft of living area on a prime 6,502 sq ft LAR4-zoned lot. This transparent, no-frills probate sale is priced to move, specifically accounting for the cosmetic updates needed to capture a healthy spread between acquisition and market value. Offering the rare advantage of flexible occupancy, it can be delivered vacant, investors can bypass tenant buyouts and move straight to a total rental reset or renovation at 2026 market rates. With its classic architectural "bones, " multiple structures, and high-density development potential per the LAR4 zoning (Buyer to verify), this property is a cornerstone asset positioned near major transit and employment corridors. Sold strictly as-is and subject to court confirmation, this is a clear-cut opportunity for a professional investor to reposition a large-scale multi-unit asset in a supply-constrained neighborhood; the estate is motivated and ready to review serious offers.

15. 2026-03-27
    price $999,900 1094-char remark

    Show marketing remark (1094 chars)

    MAJOR PRICE IMPROVEMENT STRATEGIC VALUE-ADD OPPORTUNITY: Unlock substantial equity with this high-upside 1911 Craftsman triplex, spanning approximately 4,308 sq ft of living area on a prime 6,502 sq ft LAR4-zoned lot. This transparent, no-frills probate sale is priced to move, specifically accounting for the cosmetic updates needed to capture a healthy spread between acquisition and market value. Offering the rare advantage of flexible occupancy, it can be delivered vacant, investors can bypass tenant buyouts and move straight to a total rental reset or renovation at 2026 market rates. With its classic architectural "bones, " multiple structures, and high-density development potential per the LAR4 zoning (Buyer to verify), this property is a cornerstone asset positioned near major transit and employment corridors. Sold strictly as-is and subject to court confirmation, this is a clear-cut opportunity for a professional investor to reposition a large-scale multi-unit asset in a supply-constrained neighborhood; the estate is motivated and ready to review serious offers.

16. 2026-02-18
    historical
17. 2026-01-05
    listed $1,300,000 Active
18. 2025-12-22
    listed $1,099,000 Active 1094-char remark

    Show marketing remark (1094 chars)

    MAJOR PRICE IMPROVEMENT STRATEGIC VALUE-ADD OPPORTUNITY: Unlock substantial equity with this high-upside 1911 Craftsman triplex, spanning approximately 4,308 sq ft of living area on a prime 6,502 sq ft LAR4-zoned lot. This transparent, no-frills probate sale is priced to move, specifically accounting for the cosmetic updates needed to capture a healthy spread between acquisition and market value. Offering the rare advantage of flexible occupancy, it can be delivered vacant, investors can bypass tenant buyouts and move straight to a total rental reset or renovation at 2026 market rates. With its classic architectural "bones, " multiple structures, and high-density development potential per the LAR4 zoning (Buyer to verify), this property is a cornerstone asset positioned near major transit and employment corridors. Sold strictly as-is and subject to court confirmation, this is a clear-cut opportunity for a professional investor to reposition a large-scale multi-unit asset in a supply-constrained neighborhood; the estate is motivated and ready to review serious offers.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $13,807 · $1,151/mo
• Projected year-2 tax: $13,807 · $1,151/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥87°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $101,808
• − Mortgage interest: −$50,414
• − Property taxes: −$13,807
• − Insurance: −$4,500
• − Repairs & maintenance: −$8,145
• − Management: −$8,145
• − Depreciation: −$26,182
• Taxable loss: −$9,384
• Est. tax savings @ 24.0%: +$2,252
• After-tax cash flow: $7,737/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 32,715
• Household income: $67,701
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1890.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 26% Two or more races 15% White 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: British 3%
• Foreign-born: 38% · Canada, South Korea, Guatemala
• Languages at home: 36% English-only · Spanish 61% Korean 1% French/Haitian/Cajun 1%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -670.48%
• Current HPI: 500.9289
• Rent YoY: ▲ 14.48%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-18.1% since first listed

5 events — show timeline

• 2026-04-28 Price Changed $899,999 TheMLS
• 2026-03-27 Price Changed $999,900 TheMLS
• 2026-02-18 Listing Removed — CRMLS
• 2026-01-05 Listed $1,300,000 CRMLS
• 2025-12-22 Listed $1,099,000 TheMLS

Property tax history

+17.5%/yr

Latest (2025): $13,807 · +1.4% YoY. Source: county tax records.