3854 Mentone Ave · Los Angeles, CA 90232

$3,295,000

6 bd · 16.0 ba · 6,296 sqft · MultiFamily public records · 35 Days on market

Built 1957 7,658 sqft lot $523/sqft · 34% above area Est $2457k · 34% over

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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
• Appreciation +6.2/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 16 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

LAR4 Zoning! Clean, professionally managed 16 unit building. Property is located in a prime location in Los Angeles, on the border of Los Angeles and Culver City. Great development potential with LAR4 zoning (Buyer to verify). Composed of (4) Bachelors, (6) Studios and (6) One Bedrooms. Property will be delivered with 3 vacancies at the end of May. Fully rented, $25,412 per month. All soft story seismic retrofit has been completed by owners. Exterior of the building just repainted. All new drains in garage as well as new sewer line. The location and rental upside make this an opportunity to own a generational asset in one of LA's best neighborhoods. Showing upon accepted offer.

Key facts

• Lar4 zoning
• New drains
• Exterior repainted

Tags

• LAR4 ZONING
• PRIME LOCATION
• DEVELOPMENT POTENTIAL
• SOFT STORY SEISMIC RETROFIT
• EXTERIOR REPAINTED
• NEW DRAINS

What this means for you Summary

Snapshot

• This is a 16 × 6-bed/1.0-bath units multifamily listed at $3.29M.

Deal economics

• At list price, monthly cash flow is $31k ($371k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($65k rent vs $3.29M).
• Recommended offer: $3.20M (3.0% below list) — sets the bar for market timing.
• Cap rate 17.6% 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 soft (-1.6%/yr); 29 active listings in the ZIP; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $65,462/mo this rent would consume 642% of the median local household income ($122k/yr) (locally 1159% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $100k of equity ($23k loan paydown + $77k appreciation (2.3% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.3% appreciation + 0.0% rent growth), your $923k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$252k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($3.20M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1957 — 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 $3,196,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.99% ✓
• Cap rate: 17.56%
• Cash-on-cash: 40.24%
• DSCR: 2.79
• GRM: 4.2

CMA / ARV

• ARV (median comp): $2,456,561
• List price: $3,295,000
• Delta: 34.13%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

2.34% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 42.1%
• Equity multiple: 3.24×
• Total profit: $2,062,084
• Equity at exit: $1,361,383

10-year hold

• IRR: 41.2%
• Equity multiple: 5.88×
• Total profit: $4,498,696
• Equity at exit: $2,008,998

Cash invested: $922,600 (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 90232

• Home prices YoY: 0.5%
• Rents YoY: -1.6%
• Active inventory: 29
• Price-to-rent: 67.1×

Monthly cashflow live

• Estimated rent: $65,462 medium
• Mortgage (P&I): −$17,279
• Tax from tax record: −$2,129 /mo · $25,543/yr
• Insurance: −$1,373
• HOA: −$0
• Vacancy / Maint / Mgmt: −$13,747
• Net cashflow: $30,934

Break-even live

Break-even rent $26,305

Max offer price $3,295,000

Occupancy floor 48%

Sensitivity live

Price	-10% $32,799	-5% $31,867	+0% $30,934	+5% $30,002	+10% $29,069
Rent	-10% $25,763	-5% $28,348	+0% $30,934	+5% $33,520	+10% $36,106
Rate	-1.0pp $32,593	-0.5pp $31,772	base $30,934	+0.5pp $30,080	+1.0pp $29,212

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

Units	Beds	Baths	Est. rent
▸ 16× units	6	1	$65,456
Total (16 units)			$65,462

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: $823,750
• Closing costs: $98,850
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $3,295,000 Active 35 DOM
2. 2026-06-17
   days on market $3,295,000 Active 34 DOM
3. 2026-06-16
   days on market $3,295,000 Active 33 DOM
4. 2026-06-15
   days on market $3,295,000 Active 32 DOM
5. 2026-06-13
   days on market $3,295,000 Active 30 DOM
6. 2026-06-09
   days on market $3,295,000 Active 26 DOM
7. 2026-06-08
   days on market $3,295,000 Active 25 DOM
8. 2026-06-07
   days on market $3,295,000 Active 24 DOM
9. 2026-06-04
   days on market $3,295,000 Active 21 DOM
10. 2026-06-03
    days on market $3,295,000 Active 20 DOM
11. 2026-06-02
    days on market $3,295,000 Active 19 DOM
12. 2026-06-01
    days on market $3,295,000 Active 18 DOM
13. 2026-05-31
    days on market $3,295,000 Active 17 DOM
14. 2026-05-14
    listed $3,295,000 Active 686-char remark

    Show marketing remark (686 chars)

    LAR4 Zoning! Clean, professionally managed 16 unit building. Property is located in a prime location in Los Angeles, on the border of Los Angeles and Culver City. Great development potential with LAR4 zoning (Buyer to verify). Composed of (4) Bachelors, (6) Studios and (6) One Bedrooms. Property will be delivered with 3 vacancies at the end of May. Fully rented, $25,412 per month. All soft story seismic retrofit has been completed by owners. Exterior of the building just repainted. All new drains in garage as well as new sewer line. The location and rental upside make this an opportunity to own a generational asset in one of LA's best neighborhoods. Showing upon accepted offer.

15. 2024-03-14
    historical $1,395
16. 2024-01-20
    listed $1,395
17. 2024-01-20
    historical $1,195
18. 2024-01-12
    listed $1,195
19. 2023-12-01
    historical $1,195
20. 2023-10-28
    price $1,195
21. 2023-10-21
    price $1,295
22. 2023-10-15
    price $1,395
23. 2023-10-02
    listed $1,495
24. 2022-02-22
    price $1,295

ⓘ 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: $25,543 · $2,129/mo
• Projected year-2 tax: $25,543 · $2,129/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 ≥85°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $785,544
• − Mortgage interest: −$184,571
• − Property taxes: −$25,543
• − Insurance: −$16,475
• − Repairs & maintenance: −$62,844
• − Management: −$62,844
• − Depreciation: −$95,855
• Taxable income: $337,413
• Est. tax owed @ 24.0%: −$80,979
• After-tax cash flow: $290,231/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): 16,554
• Household income: $122,396
• Rent vs Own: 61.5% rent · 38.5% own
• Severe rent burden: 1159.0

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: White 50% Asian 21% Hispanic / Latino 19% Two or more races 16% Black 4%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Scotch-Irish 4% Romanian 4% Lithuanian 3%
• Foreign-born: 22% · Canada, China, Philippines
• Languages at home: 67% English-only · Spanish 16% Chinese 4% Other Indo-European 4%

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: ▲ 2.34%
• Current HPI: 473.1563
• Rent YoY: ▼ -1.65%
• 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

+254340.2% since first listed

11 events — show timeline

• 2026-05-14 Listed $3,295,000 TheMLS
• 2024-03-14 Rental Removed $1,395 APPFOLIO
• 2024-01-20 Listed for Rent $1,395 APPFOLIO
• 2024-01-20 Rental Removed $1,195 APPFOLIO
• 2024-01-12 Listed for Rent $1,195 APPFOLIO
• 2023-12-01 Rental Removed $1,195 APPFOLIO
• 2023-10-28 Price Changed $1,195 APPFOLIO
• 2023-10-21 Price Changed $1,295 APPFOLIO
• 2023-10-15 Price Changed $1,395 APPFOLIO
• 2023-10-02 Listed for Rent $1,495 APPFOLIO
• 2022-02-22 Price Changed $1,295 APPFOLIO

Property tax history

+4.8%/yr

Latest (2025): $25,543 · +1.3% YoY. Source: county tax records.