16950 Gramercy Pl Unit 81A · Gardena, CA 90247

$120,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 130 Days on market

Built 1992 Good condition $165/sqft · 7% below area Est $125k · at est.

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.3/15.0
• Condition / age +4.0/5.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why rent when you can OWN and build your own equity? Cheaper than renting a 2-bedroom 1-bathroom apartment, NO common walls and parking right next to your home. Beautifully updated 2-bedroom 1-bathroom home with a large open floor plan. Newer flooring, fixtures, hardware, paint etc. Remodeled Kitchen & Bathroom. Washer & Dryer are located inside. It’s a great All Age Manufactured Home Community in the South Bay with RENT CONTROLL. Enjoy the large pool and Club House. There is a community Club House for parties, celebrations, and park events. Close to shopping, public transportation, and easy freeway access to the 110, 405, and 91 freeways.

Key facts

• Community pool
• Built 1992
• Listed 130 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $882 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 2.9% in Gardena — 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 60/100 on livability (#604 in CA) — a middle-class / working-renter tenant base. Strengths: employment A-; Watch: amenities C-, crime F, cost of living 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.
• Zoned schools: Denker Avenue Elementary (672 students, 77% FRL); Robert E. Peary Middle (1,164 students, 90% FRL); Gardena Senior High (math 17% / reading 45%, grade F, #702 of 1,170 statewide, top 61%, 1,560 students, 92% FRL) — zoned schools average 86% FRL vs 67% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 74 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• This rent runs 34% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.81% ✓
• Cap rate: 15.12%
• Cash-on-cash: 31.51%
• DSCR: 2.40
• GRM: 4.6

CMA / ARV

• ARV (median comp): $125,000
• List price: $120,000
• Delta: -4.00%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16950 S Gramercy Pl Unit 23 A	0.00mi	2/1.0	768 (+6%)	1mo	$85,000	$111	90
16949 S Western Ave #58	0.19mi	2/1.0	704 (-3%)	15mo	$169,000	$240	73
16949 S Western Ave Unit 34 B	0.19mi	2/1.0	640 (-12%)	3mo	$125,000	$195	68
17100 Gramercy Pl #28	0.18mi	2/2.0	788 (+8%)	9mo	$165,000	$209	66
17705 S Western Ave #59	0.55mi	2/1.0	672 (-8%)	21mo	$40,000	$60	44
17700 S WESTERN Ave #133	0.64mi	2/1.0	800 (+10%)	23mo	$120,000	$150	34

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 · 1.79% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 2.02×
• Total profit: $34,172
• Equity at exit: $17,892

10-year hold

• IRR: 32.0%
• Equity multiple: 3.73×
• Total profit: $91,806
• Equity at exit: $10,375

Cash invested: $33,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

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

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90247

• Rents YoY: 1.8%
• Active inventory: 74
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,166 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $882

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 54%

Sensitivity live

Price	-10% $965	-5% $924	+0% $882	+5% $841	+10% $799
Rent	-10% $711	-5% $797	+0% $882	+5% $968	+10% $1,053
Rate	-1.0pp $943	-0.5pp $913	base $882	+0.5pp $851	+1.0pp $820

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16120 Van Ness Ave Unit 6 Torrance, CA	2.0	1.0	690	$2,026	$2.94	20d	1	0.50mi
16020 Van Ness Ave Torrance, CA	1.0	1.0	550	$1,950	$3.55	45d	2	0.55mi
2501 W Redondo Beach Blvd Unit 242 Gardena, CA	1.0	1.0	550	$1,800	$3.27	45d	1	0.69mi
2125 W 157th St Unit 10 Gardena, CA	1.0	1.0	700	$2,050	$2.93	5d	1	0.74mi
16416 Brighton Ave Gardena, CA	1.0	1.0	400	$2,195	$5.49	0d	1	0.76mi
16416 Brighton Ave Gardena, CA	1.0	1.0	400	$2,195	$5.49	45d	1	0.76mi
17917 Evelyn Ave Gardena, CA	1.0	1.0	500	$2,175	$4.35	45d	1	0.93mi
15717 Brighton Ave Unit B Gardena, CA	1.0	1.0	650	$2,200	$3.38	26d	1	0.97mi
1439 W 179th St Unit 03 Gardena, CA	2.0	1.0	650	$2,250	$3.46	45d	1	0.99mi
15702 Brighton Ave Unit 4 Gardena, CA	2.0	1.0	750	$2,500	$3.33	20d	1	1.03mi
17901 Crenshaw Blvd Unit 4 Torrance, CA	1.0	1.0	615	$2,495	$4.06	26d	1	1.04mi
3313 Artesia Blvd Torrance, CA	1.0	1.0	750	$1,895	$2.53	45d	1	1.08mi
1118 166th St Unit C Gardena, CA	1.0	1.0	389	$1,775	$4.56	45d	1	1.09mi
3444 Redondo Beach Blvd Unit 3 Torrance, CA	1.0	1.0	668	$1,850	$2.77	20d	1	1.15mi
1709 Marine Ave Unit 1 Gardena, CA	1.0	1.0	400	$1,750	$4.38	15d	1	1.21mi
1709 Marine Ave Unit 1 Gardena, CA	1.0	1.0	370	$1,750	$4.73	19d	1	1.21mi
16724 Yukon Ave Torrance, CA	1.0	1.0	705	$2,595	$3.68	26d	1	1.26mi
17030 Yukon Ave Torrance, CA	1.0	1.0	600	$2,100	$3.50	45d	1	1.27mi
860 W 165th Pl Unit 103 Gardena, CA	1.0	1.0	589	$1,775	$3.01	45d	1	1.28mi
18424 S Normandie Ave Gardena, CA	1.0	1.0	550	$1,900	$3.45	45d	1	1.28mi
17035 Yukon Ave Torrance, CA	1.0	1.0	720	$2,195	$3.05	45d	1	1.31mi
844 W 164th St Unit 9402A Gardena, CA	1.0	1.0	615	$2,500	$4.07	45d	1	1.31mi
1034 Magnolia Ave Unit 16 Gardena, CA	1.0	1.0	550	$1,750	$3.18	26d	1	1.33mi
1030 Magnolia Ave Gardena, CA	1.0–2.0	1.0	710	$2,700	$3.80	45d	2	1.35mi
15904 S Vermont Ave Gardena, CA	2.0	1.0	627	$2,000	$3.19	17d	1	1.40mi
1321 W 186th St Gardena, CA	1.0	1.0	600	$1,800	$3.00	45d	1	1.41mi
3705 Artesia Blvd Torrance, CA	1.0–2.0	1.0	700	$2,692	$3.85	45d	2	1.44mi

Listing history 15 events

1. 2026-06-21
   days on market $120,000 Active 130 DOM
2. 2026-06-18
   days on market $120,000 Active 127 DOM
3. 2026-06-17
   days on market $120,000 Active 126 DOM
4. 2026-06-16
   days on market $120,000 Active 125 DOM
5. 2026-06-15
   days on market $120,000 Active 124 DOM
6. 2026-06-13
   days on market $120,000 Active 122 DOM
7. 2026-06-09
   days on market $120,000 Active 118 DOM
8. 2026-06-08
   days on market $120,000 Active 117 DOM
9. 2026-06-07
   days on market $120,000 Active 116 DOM
10. 2026-06-04
    days on market $120,000 Active 113 DOM
11. 2026-06-03
    days on market $120,000 Active 112 DOM
12. 2026-06-02
    days on market $120,000 Active 111 DOM
13. 2026-06-01
    days on market $120,000 Active 110 DOM
14. 2026-05-31
    days on market $120,000 Active 109 DOM
15. 2026-02-11
    listed $120,000 Active 665-char remark

    Show marketing remark (665 chars)

    Why rent when you can OWN and build your own equity? Cheaper than renting a 2-bedroom 1-bathroom apartment, NO common walls and parking right next to your home. Beautifully updated 2-bedroom 1-bathroom home with a large open floor plan. Newer flooring, fixtures, hardware, paint etc. Remodeled Kitchen & Bathroom. Washer & Dryer are located inside. It’s a great All Age Manufactured Home Community in the South Bay with RENT CONTROLL. Enjoy the large pool and Club House. There is a community Club House for parties, celebrations, and park events. Close to shopping, public transportation, and easy freeway access to the 110, 405, and 91 freeways.

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 18% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 5 d/yr ≥86°F today · 16 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: $25,998
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$2,080
• − Management: −$2,080
• − Depreciation: −$3,491
• Taxable income: $9,226
• Est. tax owed @ 24.0%: −$2,214
• After-tax cash flow: $8,373/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained and updated manufactured home is move-in ready with good curb appeal and a large open floor plan.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace window screens — Improves energy efficiency and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace window screens — Improves energy efficiency and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Gardena

• Score: 60/100
• State rank: #604
• US rank: #19337

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gardena, CA
• County: Los Angeles County · 9,444,647 people
• City population: 73,343
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 47,053
• Household income: $77,333
• Rent vs Own: 58.7% rent · 41.3% own
• Severe rent burden: 2604.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 50% Asian 25% Two or more races 19% Black 15% White 6% Native American 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: British 1% Lithuanian 1%
• Foreign-born: 38% · Canada, South Korea, Vietnam
• Languages at home: 39% English-only · Spanish 40% Other Asian/Pacific 6% Korean 5%

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: ▼ -683.33%
• Current HPI: 420.4015
• Rent YoY: ▲ 1.79%
• 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

1 event — show timeline

• 2026-02-11 Listed $120,000 CRMLS

Property tax history

-24.2%/yr

Latest (2025): $237 · -24.2% YoY. Source: county tax records.