Bass trailed Caruso Thursday by just under 2,700 votes -- down from a 12,000-vote deficit early Wednesday morning, when the clerk's office last released an update. An additional 134,099 vote-by-mail ballots returned through Election Day were added to the vote count Thursday afternoon, bringing the total ballots counted to 1,452,192.
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The next update will be Friday afternoon, with subsequent updates every Tuesday and Friday until all ballots are tallied.
Caruso and Bass remain locked in a virtual 50-50 deadlock, and a winner might not be determined for days or even weeks.
"In the coming days, the voice of the people of Los Angeles will be heard and we feel confident that we will win," Sarah Leonard Sheahan, Bass' communications director, said in a statement on the latest vote count. "As mayor, Karen Bass will chart a new direction for Los Angeles with comprehensive solutions for homelessness, public safety and affordability."
In response to the latest numbers, Caruso's campaign in a statement said: "There are a lot of votes to count. We're cautiously optimistic about these numbers and looking forward to the next series of results. There is so much work to be done around homelessness and crime, we're eager to move forward."
In a tight mayor's race, the favorite is Bass, a former state Assembly leader who has the advantage of being a lifelong Democrat in a city where Republicans are almost invisible.
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She's backed by President Joe Biden and the Democratic establishment and has been promising to use her skills as a coalition builder to heal a wounded city.
Caruso campaigned on an abrupt change in direction, arguing that Bass and other longtime politicians are part of the problem that has led L.A. into multiple crises.
WATCH: LA mayoral hopefuls Karen Bass, Rick Caruso discuss crime and more
Eyewitness Newsmakers: LA mayoral hopefuls Karen Bass, Rick Caruso discuss housing, crime, policing
He is promising to expand the police department to deal with rising crime rates and quickly get ubiquitous homeless encampments off the streets.
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The winner will replace beleaguered Democrat Eric Garcetti, who will conclude two uneven terms with his nomination to become U.S. ambassador to India stalled in the Senate, apparently over sexual misconduct allegations against a former top Garcetti adviser.
The Associated Press and City News Service contributed to this report.