6500 S Main St · Los Angeles, CA 90003

$1,799,000

10 bd · 6.0 ba · 3,205 sqft · MultiFamily public records · 97 Days on market

Built 2020 Poor condition 7,150 sqft lot $561/sqft · 84% above area Est $2075k · 13% under

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Why this score? — see what drove the D- 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).

• ARV discount +13.5/15.0
• Cash flow +8.1/30.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• DSCR +2.1/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

2020 CONSTRUCTION! $285/SF WELL BELOW REPLACEMENT COST AND NOT SUBJECT TO ANY RENT CONTROL. The property features a great mix of units, including (2) 6 Bedroom- 3 Bath and (2) 4 Bedroom-3 Bath Units. With each unit measuring at an average of 1,665 Square Feet, the oversized units makes it attractive to a wide range of renters. With all four units delivered vacant, the next owner has the ability to lease the units at full market rents from day one. Based on market rents, the property has the potential to generate $19,000 per month in gross income, making it a strong opportunity for an investor seeking solid cash flow. The property could also be ideal for an owner-user looking to live in one of the units while collecting income from the other units to help offset their mortgage. The property is conveniently located in South Los Angeles with easy access to Downtown.

Key facts

• Easy access to usc
• Great mix of units
• 7,150 sq ft lot

Tags

• GREAT MIX OF UNITS
• EASY ACCESS TO DOWNTOWN LA
• EASY ACCESS TO USC

What this means for you Summary

Snapshot

• This is a 2×6bd/3ba + 2×4bd/3ba units multifamily listed at $1.80M. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative. Per door: $-437/mo.
• To cash-flow at today's rent, offer at most $1.49M (17.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.38M (23.4% below list).
• Recommended offer: $1.38M (23.4% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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 flat; 161 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $13,772/mo this rent would consume 295% of the median local household income ($56k/yr) (locally 4550% 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 $12k of loan paydown is wiped out by about $54k 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 97 days — a 9% lower offer ($1.64M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $1,377,200 (23.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.77% ✗
• Cap rate: 5.13%
• Cash-on-cash: -4.16%
• DSCR: 0.81
• GRM: 10.9

CMA / ARV

• ARV (median comp): $2,074,832
• List price: $1,799,000
• Delta: -13.29%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
138 W 66th St	0.13mi	10/5.0	3,667 (+14%)	6mo	$1,147,355	$313	62
314-- 316 W 65th St	0.31mi	9/5.0 (-1)	3,538 (+10%)	2mo	$975,000	$276	57
315-- 317 W 66th St	0.32mi	9/5.0 (-1)	3,538 (+10%)	2mo	$975,000	$276	57
341-343 W 73rd St	0.58mi	10/6.0	3,506 (+9%)	7mo	$1,150,000	$328	52

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 · 0.11% rent growth · sell at horizon

5-year hold

• IRR: -26.6%
• Equity multiple: 0.12×
• Total profit: $-441,451
• Equity at exit: $268,237

10-year hold

• IRR: -38.2%
• Equity multiple: -0.34×
• Total profit: $-677,193
• Equity at exit: $155,545

Cash invested: $503,720 (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 90003

• Rents YoY: 0.1%
• Active inventory: 161
• Price-to-rent: 41.0×

Monthly cashflow live

• Estimated rent: $13,772 medium
• Mortgage (P&I): −$9,434
• Tax from tax record: −$2,444 /mo · $29,332/yr
• Insurance: −$750
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,892
• Net cashflow: $-1,748

Break-even live

Break-even rent $15,985

Max offer price $1,490,179

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	6	3	$7,312
▸ 2× units	4	3	$6,460
Total (4 units)			$13,772

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: $449,750
• Closing costs: $53,970
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $1,799,000 Active 97 DOM
2. 2026-06-17
   days on market $1,799,000 Active 96 DOM
3. 2026-06-16
   days on market $1,799,000 Active 95 DOM
4. 2026-06-15
   days on market $1,799,000 Active 94 DOM
5. 2026-06-13
   days on market $1,799,000 Active 92 DOM
6. 2026-06-09
   days on market $1,799,000 Active 88 DOM
7. 2026-06-08
   days on market $1,799,000 Active 87 DOM
8. 2026-06-07
   days on market $1,799,000 Active 86 DOM
9. 2026-06-04
   days on market $1,799,000 Active 83 DOM
10. 2026-06-03
    days on market $1,799,000 Active 82 DOM
11. 2026-06-02
    days on market $1,799,000 Active 81 DOM
12. 2026-06-01
    days on market $1,799,000 Active 80 DOM
13. 2026-05-31
    days on market $1,799,000 Active 79 DOM
14. 2026-03-13
    listed $1,900,000 Active 875-char remark

    Show marketing remark (875 chars)

    2020 CONSTRUCTION! $285/SF WELL BELOW REPLACEMENT COST AND NOT SUBJECT TO ANY RENT CONTROL. The property features a great mix of units, including (2) 6 Bedroom- 3 Bath and (2) 4 Bedroom-3 Bath Units. With each unit measuring at an average of 1,665 Square Feet, the oversized units makes it attractive to a wide range of renters. With all four units delivered vacant, the next owner has the ability to lease the units at full market rents from day one. Based on market rents, the property has the potential to generate $19,000 per month in gross income, making it a strong opportunity for an investor seeking solid cash flow. The property could also be ideal for an owner-user looking to live in one of the units while collecting income from the other units to help offset their mortgage. The property is conveniently located in South Los Angeles with easy access to Downtown.

15. 2021-10-29
    soldstatus $2,260,000
16. 2014-01-24
    soldstatus $165,000
17. 1992-01-28
    soldstatus $80,000
18. 1982-04-30
    soldstatus $35,000

ⓘ 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: $29,332 · $2,444/mo
• Projected year-2 tax: $29,332 · $2,444/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 ≥88°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: $165,264
• − Mortgage interest: −$100,772
• − Property taxes: −$29,332
• − Insurance: −$8,995
• − Repairs & maintenance: −$13,221
• − Management: −$13,221
• − Depreciation: −$52,335
• Taxable loss: −$52,611
• Est. tax savings @ 24.0%: +$12,627
• After-tax cash flow: $-8,351/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

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and maintenance, including painting exterior walls and repairing the roof. While the units are vacant and ready for lease, the overall condition of the property is poor, which could impact its value and rental potential.

Repairs flagged

• Major Exterior walls — Significant wear and tear, peeling paint
• Major Roof — Visible damage and potential leaks
• Major Exterior walls — Significant wear and tear, peeling paint
• Major Exterior walls — Significant wear and tear, peeling paint
• Major Exterior walls — Significant wear and tear, peeling paint
• Major Exterior walls — Significant wear and tear, peeling paint
• Major Exterior walls — Significant wear and tear, peeling paint
• Major Exterior walls — Significant wear and tear, peeling paint
• Major Exterior walls — Significant wear and tear, peeling paint
• Major Exterior walls — Significant wear and tear, peeling paint
• Major Exterior walls — Significant wear and tear, peeling paint
• Major Exterior walls — Significant wear and tear, peeling paint

Value-add opportunities

• Resale Paint exterior walls — Fresh paint can significantly improve curb appeal and home value
• Resale Repair roof — A repaired roof can prevent water damage and improve the home's overall condition
• Both Landscaping — A well-maintained yard can improve curb appeal and attract potential renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior walls · Significant wear and tear, peeling paint	Major	$15,000–50,000
Roof · Visible damage and potential leaks	Major	$15,000–50,000
Exterior walls · Significant wear and tear, peeling paint	Major	$15,000–50,000
Exterior walls · Significant wear and tear, peeling paint	Major	$15,000–50,000
Exterior walls · Significant wear and tear, peeling paint	Major	$15,000–50,000
Exterior walls · Significant wear and tear, peeling paint	Major	$15,000–50,000
Exterior walls · Significant wear and tear, peeling paint	Major	$15,000–50,000
Exterior walls · Significant wear and tear, peeling paint	Major	$15,000–50,000
Exterior walls · Significant wear and tear, peeling paint	Major	$15,000–50,000
Exterior walls · Significant wear and tear, peeling paint	Major	$15,000–50,000
Exterior walls · Significant wear and tear, peeling paint	Major	$15,000–50,000
Exterior walls · Significant wear and tear, peeling paint	Major	$15,000–50,000
Total estimated repair cost · 12 items		$180,000–600,000

Value-add ROI direction

• Resale Paint exterior walls — Fresh paint can significantly improve curb appeal and home value ↑
• Resale Repair roof — A repaired roof can prevent water damage and improve the home's overall condition ↑
• Both Landscaping — A well-maintained yard can improve curb appeal and attract potential renters ↑

ⓘ 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 — 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): 70,065
• Household income: $56,030
• Rent vs Own: 72.8% rent · 27.2% own
• Severe rent burden: 4550.0

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: Predominantly Hispanic (81%)
• Race & ethnicity: Hispanic / Latino 81% Two or more races 20% Black 16% Native American 1%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: British 1%
• Foreign-born: 40% · Canada
• Languages at home: 24% English-only · Spanish 75%

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: ▼ -785.95%
• Current HPI: 512.5667
• Rent YoY: ▲ 0.11%
• 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

+5328.6% since first listed

5 events — show timeline

• 2026-03-13 Listed $1,900,000 TheMLS
• 2021-10-29 Sold (Public Records) $2,260,000 Public Records
• 2014-01-24 Sold (Public Records) $165,000 Public Records
• 1992-01-28 Sold (Public Records) $80,000 Public Records
• 1982-04-30 Sold (Public Records) $35,000 Public Records

Property tax history

+242.2%/yr

Latest (2025): $29,332 · +1.3% YoY. Source: county tax records.