4911 S Normandie Ave · Los Angeles, CA 90037

$650,000

4 bd · 4.0 ba · 2,685 sqft · MultiFamily public records · 187 Days on market

Built 1924 5,403 sqft lot $242/sqft · 17% below area Est $887k · 27% under

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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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Excellent value-add opportunity in a centrally located Los Angeles corridor. Situated on S Normandie Avenue, this 4-unit property offers strong upside potential for investors or owner-users seeking long-term appreciation and income in an area experiencing continued growth and revitalization. The property requires TLC, presenting an ideal opportunity to renovate and increase value. Seller is very motivated. Property consists of four units: one (1) 3-bedroom/1-bath unit, two (2) 1-bedroom/1-bath units, and one (1) detached studio back unit with 1 bath. Property includes two (2) car garages. Units are currently occupied by long-term tenants. Convenient access to USC, Downtown Los Angeles, major freeways, public transportation, shopping, dining, and community amenities. Buyer to conduct their own due diligence regarding zoning, square footage, permits, income, and future use. Won't last, take your buyers to see and bring your offers! Seller provides no warranties or guarantees.

Key facts

• Centrally located
• 5,403 sq ft lot
• 2 garage spots

Tags

• CENTRALLY LOCATED
• CONVENIENT ACCESS TO USC
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/?-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $507/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $650k).
• Recommended offer: $572k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 (+1.7%/yr); 104 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $7,978/mo this rent would consume 166% of the median local household income ($58k/yr) (locally 4200% 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 $4k of loan paydown is wiped out by about $20k 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 + 1.7% rent growth), your $182k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($572k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $100k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $465k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $572,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% 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 1924 — 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: 1.23% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.37%
• DSCR: 1.60
• GRM: 6.8

CMA / ARV

• ARV (median comp): $886,805
• List price: $650,000
• Delta: -26.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1261 W 51st	0.23mi	5/3.0 (+1)	2,401 (-11%)	3mo	$940,000	$392	60
4615 Orchard Ave	0.67mi	4/4.0	2,812 (+5%)	2mo	$825,000	$293	59
967 W 47th St	0.58mi	4/3.0	2,803 (+4%)	5mo	$525,000	$187	57
1736 W 51st	0.58mi	4/3.5	2,475 (-8%)	1mo	$810,000	$327	57
1501 W 53rd	0.32mi	4/2.0	2,359 (-12%)	2mo	$490,000	$208	55
4216 Dalton Ave	0.58mi	5/3.0 (+1)	2,448 (-9%)	10mo	$895,000	$366	41
4164 S Normandie Ave	0.61mi	4/3.0	2,340 (-13%)	11mo	$468,000	$200	37

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 · 1.69% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.07×
• Total profit: $13,462
• Equity at exit: $96,917

10-year hold

• IRR: 10.3%
• Equity multiple: 1.75×
• Total profit: $136,526
• Equity at exit: $56,200

Cash invested: $182,000 (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 90037

• Rents YoY: 1.7%
• Active inventory: 104
• Price-to-rent: 27.2×

Monthly cashflow live

• Estimated rent: $7,978 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$595 /mo · $7,138/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,675
• Net cashflow: $2,028

Break-even live

Break-even rent $5,411

Max offer price $650,000

Occupancy floor 70%

Sensitivity live

Price	-10% $2,396	-5% $2,212	+0% $2,028	+5% $1,844	+10% $1,660
Rent	-10% $1,398	-5% $1,713	+0% $2,028	+5% $2,343	+10% $2,659
Rate	-1.0pp $2,356	-0.5pp $2,194	base $2,028	+0.5pp $1,860	+1.0pp $1,689

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	—	$7,976
Total (4 units)			$7,978

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5001 S Budlong Ave Los Angeles, CA	5.0	2.5	2010	$5,200	$2.59	8d	1	0.29mi
1337 W 55th St Los Angeles, CA	5.0	3.0	1752	$4,200	$2.40	44d	1	0.45mi
4240 Denker Ave Los Angeles, CA	4.0	3.0	2684	$2,500	$0.93	0d	1	0.53mi
4284 S Hobart Blvd Los Angeles, CA	3.0	1.0	3040	$3,300	$1.09	44d	1	0.57mi
1400 57th St Los Angeles, CA	5.0	5.0	1800	$4,200	$2.33	44d	1	0.58mi
4062 S Budlong Ave Unit MAIN Los Angeles, CA	3.0	1.0	2000	$2,950	$1.48	44d	1	0.79mi
1265 Browning Blvd Unit 1/2 Los Angeles, CA	4.0	4.0	1816	$3,666	$2.02	25d	1	0.93mi
620 W 52nd St Los Angeles, CA	4.0	2.0	1777	$3,450	$1.94	25d	1	0.95mi
3946 S Budlong Ave Unit 1/2 Los Angeles, CA	3.0	3.0	1793	$3,600	$2.01	44d	1	1.05mi
3944 S Budlong Ave Unit 223-3946 1/2 Los Angeles, CA	3.0	3.0	1793	$3,600	$2.01	44d	1	1.05mi
715 W 58th St Los Angeles, CA	5.0	3.0	3500	$4,000	$1.14	25d	1	1.06mi
605 1/2 W 41st Pl Los Angeles, CA	4.0	4.5	1950	$3,900	$2.00	25d	1	1.14mi
1150 W 38th St Los Angeles, CA	3.0–19.0	3.0–18.5	4527	$4,969	$1.10	2d	9	1.28mi
5913 Denver Ave Los Angeles, CA	5.0	3.0	1777	$3,900	$2.19	25d	1	1.28mi
1163 W 38th St Los Angeles, CA	3.0	3.0	2300	$3,420	$1.49	25d	1	1.30mi
3780 S La Salle Ave Unit 1 Los Angeles, CA	5.0	3.0	1870	$4,999	$2.67	0d	1	1.33mi
238 W 46th St Los Angeles, CA	5.0	3.0	1848	$3,890	$2.10	25d	1	1.36mi
1299 W 37th Dr Unit 1 Los Angeles, CA	5.0	3.0	1800	$5,600	$3.11	44d	1	1.41mi
213 W 43rd St Los Angeles, CA	5.0	4.0	2302	$4,200	$1.82	5d	1	1.48mi

Listing history 23 events

1. 2026-06-21
   days on market $650,000 Active 187 DOM
2. 2026-06-18
   days on market $650,000 Active 184 DOM
3. 2026-06-17
   days on market $650,000 Active 183 DOM
4. 2026-06-16
   days on market $650,000 Active 182 DOM
5. 2026-06-15
   days on market $650,000 Active 181 DOM
6. 2026-06-13
   days on market $650,000 Active 179 DOM
7. 2026-06-09
   days on market $650,000 Active 175 DOM
8. 2026-06-08
   days on market $650,000 Active 174 DOM
9. 2026-06-07
   days on market $650,000 Active 173 DOM
10. 2026-06-04
    days on market $650,000 Active 170 DOM
11. 2026-06-03
    days on market $650,000 Active 169 DOM
12. 2026-06-02
    days on market $650,000 Active 168 DOM
13. 2026-06-01
    days on market $650,000 Active 167 DOM
14. 2026-05-31
    days on market $650,000 Active 166 DOM
15. 2026-05-01
    price $650,000 988-char remark

    Show marketing remark (988 chars)

    Excellent value-add opportunity in a centrally located Los Angeles corridor. Situated on S Normandie Avenue, this 4-unit property offers strong upside potential for investors or owner-users seeking long-term appreciation and income in an area experiencing continued growth and revitalization. The property requires TLC, presenting an ideal opportunity to renovate and increase value. Seller is very motivated. Property consists of four units: one (1) 3-bedroom/1-bath unit, two (2) 1-bedroom/1-bath units, and one (1) detached studio back unit with 1 bath. Property includes two (2) car garages. Units are currently occupied by long-term tenants. Convenient access to USC, Downtown Los Angeles, major freeways, public transportation, shopping, dining, and community amenities. Buyer to conduct their own due diligence regarding zoning, square footage, permits, income, and future use. Won't last, take your buyers to see and bring your offers! Seller provides no warranties or guarantees.

16. 2026-02-03
    price $700,000 988-char remark

    Show marketing remark (988 chars)

    Excellent value-add opportunity in a centrally located Los Angeles corridor. Situated on S Normandie Avenue, this 4-unit property offers strong upside potential for investors or owner-users seeking long-term appreciation and income in an area experiencing continued growth and revitalization. The property requires TLC, presenting an ideal opportunity to renovate and increase value. Seller is very motivated. Property consists of four units: one (1) 3-bedroom/1-bath unit, two (2) 1-bedroom/1-bath units, and one (1) detached studio back unit with 1 bath. Property includes two (2) car garages. Units are currently occupied by long-term tenants. Convenient access to USC, Downtown Los Angeles, major freeways, public transportation, shopping, dining, and community amenities. Buyer to conduct their own due diligence regarding zoning, square footage, permits, income, and future use. Won't last, take your buyers to see and bring your offers! Seller provides no warranties or guarantees.

17. 2025-12-02
    listed $750,000 Active 988-char remark

    Show marketing remark (988 chars)

    Excellent value-add opportunity in a centrally located Los Angeles corridor. Situated on S Normandie Avenue, this 4-unit property offers strong upside potential for investors or owner-users seeking long-term appreciation and income in an area experiencing continued growth and revitalization. The property requires TLC, presenting an ideal opportunity to renovate and increase value. Seller is very motivated. Property consists of four units: one (1) 3-bedroom/1-bath unit, two (2) 1-bedroom/1-bath units, and one (1) detached studio back unit with 1 bath. Property includes two (2) car garages. Units are currently occupied by long-term tenants. Convenient access to USC, Downtown Los Angeles, major freeways, public transportation, shopping, dining, and community amenities. Buyer to conduct their own due diligence regarding zoning, square footage, permits, income, and future use. Won't last, take your buyers to see and bring your offers! Seller provides no warranties or guarantees.

18. 2016-06-14
    soldstatus $465,000 283-char remark

    Show marketing remark (283 chars)

    Great L.A. investment opportunity at a great price! 4 units in popular rental area close-in to L.A. center. Craftsman/bungalow architectural features. Some renovations completed in the last few years including counter tops and flooring. Good income and good resident-landlord set up.

19. 2016-06-14
    soldstatus $465,000

    Show marketing remark (283 chars)

    Great L.A. investment opportunity at a great price! 4 units in popular rental area close-in to L.A. center. Craftsman/bungalow architectural features. Some renovations completed in the last few years including counter tops and flooring. Good income and good resident-landlord set up.

20. 2016-06-14
    soldstatus $465,000

    Show marketing remark (283 chars)

    Great L.A. investment opportunity at a great price! 4 units in popular rental area close-in to L.A. center. Craftsman/bungalow architectural features. Some renovations completed in the last few years including counter tops and flooring. Good income and good resident-landlord set up.

21. 2015-12-23
    listed $489,000
22. 2015-12-20
    listed $489,000 283-char remark

    Show marketing remark (283 chars)

    Great L.A. investment opportunity at a great price! 4 units in popular rental area close-in to L.A. center. Craftsman/bungalow architectural features. Some renovations completed in the last few years including counter tops and flooring. Good income and good resident-landlord set up.

23. 2006-12-14
    soldstatus $335,000

ⓘ 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: $7,138 · $595/mo
• Projected year-2 tax: $7,138 · $595/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 5/10 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: $95,736
• − Mortgage interest: −$36,410
• − Property taxes: −$7,138
• − Insurance: −$3,250
• − Repairs & maintenance: −$7,659
• − Management: −$7,659
• − Depreciation: −$18,909
• Taxable income: $14,711
• Est. tax owed @ 24.0%: −$3,531
• After-tax cash flow: $20,809/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): 65,482
• Household income: $57,622
• Rent vs Own: 77.3% rent · 22.7% own
• Severe rent burden: 4200.0

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 (80%)
• Race & ethnicity: Hispanic / Latino 80% Two or more races 15% Black 15% Native American 3% White 2% Asian 1%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: British 1%
• Foreign-born: 44% · Canada, South Korea
• Languages at home: 23% English-only · Spanish 74% 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: ▼ -639.09%
• Current HPI: 467.0371
• Rent YoY: ▲ 1.69%
• 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

+94.0% since first listed

9 events — show timeline

• 2026-05-01 Price Changed $650,000 TheMLS
• 2026-02-03 Price Changed $700,000 TheMLS
• 2025-12-02 Listed $750,000 TheMLS
• 2016-06-14 Sold (Public Records) $465,000 Public Records
• 2016-06-14 Sold (MLS) $465,000 SDMLS
• 2016-06-14 Sold (MLS) $465,000 SDMLS
• 2015-12-23 Listed $489,000 SDMLS
• 2015-12-20 Listed $489,000 SDMLS
• 2006-12-14 Sold (Public Records) $335,000 Public Records

Property tax history

-0.8%/yr

Latest (2025): $7,138 · +1.7% YoY. Source: county tax records.