2104 Park Grv · Los Angeles, CA 90007

$1,350,000

6 bd · 4.0 ba · 4,052 sqft · MultiFamily public records · 170 Days on market

Built 1895 6,851 sqft lot $333/sqft · 8% above area Est $1245k · 8% over

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Why this score? — see what drove the C- 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 +23.5/30.0
• DSCR +7.6/10.0
• 1% rule +5.1/10.0
• Rent growth +4.0/5.0
• ARV discount +3.7/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 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: 6 units. estimate disagrees with records

Listing remarks

Introducing 2104 Park Grove Ave, Los Angeles, CA 90007 This is an exceptional 6-unit private student-housing investment steps from USC. Located inside the USC Department of Public Safety Patrol Zone and Campus Cruiser/Ride Share area, this property sits in one of the strongest student rental submarkets in all of Los Angeles. The property consists of six well-maintained units: • Front Unit: 4 bedrooms, 1 bath, recently remodeled • Side Unit: 3 bedrooms, 2 baths • Second Floor Left Unit: 3 bedrooms, 1 bath • Second Floor – Right Unit: 2 bedrooms, 1 bath • Rear Structure – Downstairs: 1 bedroom, 1 bath • Rear Structure Upstairs: Single unit A

Key facts

• Fully rented
• 6,851 sq ft lot
• Built 1895

Tags

• WELL MAINTAINED UNITS
• FULLY RENTED
• STRONG IN PLACE INCOME
• POTENTIAL FOR UP TO 30 BEDS
• WALKING DISTANCE TO USC CAMPUS
• TURNKEY INCOME PRODUCING ASSET

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.5-bath units multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $3k ($30k/yr) — positive. Per door: $420/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.35M).
• Recommended offer: $1.19M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 fast (+5.9%/yr); 82 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $13,629/mo this rent would consume 462% of the median local household income ($35k/yr) (locally 4179% 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 $9k of loan paydown is wiped out by about $40k 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 + 5.9% rent growth), your $378k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($1.19M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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.
• Current owner paid $750k; list at $1.35M implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,188,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 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 1895 — 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: 1.01% ✓
• Cap rate: 8.53%
• Cash-on-cash: 8.00%
• DSCR: 1.36
• GRM: 8.3

CMA / ARV

• ARV (median comp): $1,244,697
• List price: $1,350,000
• Delta: 8.46%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.88% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.95×
• Total profit: $-18,016
• Equity at exit: $201,289

10-year hold

• IRR: 11.1%
• Equity multiple: 1.97×
• Total profit: $366,088
• Equity at exit: $116,723

Cash invested: $378,000 (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 90007

• Home prices YoY: -32.8%
• Rents YoY: 5.9%
• Active inventory: 82
• Price-to-rent: 49.5×

Monthly cashflow live

• Estimated rent: $13,629 high
• Mortgage (P&I): −$7,080
• Tax from tax record: −$604 /mo · $7,245/yr
• Insurance: −$562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,862
• Net cashflow: $2,521

Break-even live

Break-even rent $10,438

Max offer price $1,350,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1.5	$13,626
Total (6 units)			$13,629

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: $337,500
• Closing costs: $40,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2317 Scarff St Unit B Los Angeles, CA	5.0	3.5	3000	$5,995	$2.00	44d	1	0.16mi
1180 W Adams Blvd Los Angeles, CA	6.0	5.0	2916	$9,988	$3.43	10d	1	0.48mi
2640 Menlo Ave Los Angeles, CA	2.0–9.0	2.0–7.5	2185	$8,257	$3.78	1d	2	0.71mi
2679 Menlo Ave Los Angeles, CA	6.0	1.0	3314	$1,000	$0.30	21d	1	0.77mi
1155 W 36th Pl Los Angeles, CA	6.0–8.0	4.0	3090	$1,075	$0.35	15d	1	1.19mi
1130 S Hoover St Los Angeles, CA	6.0	5.0	3264	$1,100	$0.34	44d	1	1.20mi
230 W Olympic Blvd Los Angeles, CA	1.0–5.0	1.0–6.0	2538	$29,339	$11.56	1d	30	1.23mi
2754 Kenwood Ave Los Angeles, CA	5.0	2.5	3502	$6,795	$1.94	44d	1	1.24mi
2945 Raymond Ave Los Angeles, CA	7.0	3.0	4464	$9,975	$2.23	44d	1	1.24mi
145 E 36th St Unit 145 Los Angeles, CA	5.0	3.0	4500	$5,400	$1.20	25d	1	1.25mi

Listing history 21 events

1. 2026-06-18
   days on market $1,350,000 Active 170 DOM
2. 2026-06-17
   days on market $1,350,000 Active 169 DOM
3. 2026-06-16
   days on market $1,350,000 Active 168 DOM
4. 2026-06-15
   days on market $1,350,000 Active 167 DOM
5. 2026-06-13
   statusdays on market $1,350,000 Active 165 DOM
6. 2025-12-01
   listed $1,350,000 Active
7. 2024-05-17
   price
8. 2024-03-25
   listed Active
9. 2006-04-21
   soldstatus $750,000
10. 2003-06-09
    soldstatus $475,000
11. 2003-01-01
    historical
12. 2003-01-01
    historical
13. 2002-10-16
    listed
14. 2002-10-16
    listed $475,000
15. 2002-06-11
    soldstatus $420,000
16. 2000-11-01
    soldstatus $205,000
17. 2000-03-21
    historical
18. 2000-03-09
    listed $188,001
19. 2000-03-09
    listed $194,000
20. 1996-12-24
    soldstatus $230,000
21. 1996-12-11
    soldstatus $83,500

ⓘ 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: $7,245 · $604/mo
• Projected year-2 tax: $10,260 · $855/mo
• Expected delta: +$3,015/yr (+$251/mo · 41.6%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥90°F today · 22 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: $163,548
• − Mortgage interest: −$75,621
• − Property taxes: −$7,245
• − Insurance: −$6,750
• − Repairs & maintenance: −$13,084
• − Management: −$13,084
• − Depreciation: −$39,273
• Taxable income: $8,492
• Est. tax owed @ 24.0%: −$2,038
• After-tax cash flow: $28,216/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): 38,715
• Household income: $35,378
• Rent vs Own: 90.2% rent · 9.8% own
• Severe rent burden: 4179.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 53% Asian 18% White 17% Two or more races 14% Black 8% Native American 1%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Romanian 1% Scotch-Irish 1% Iranian 1%
• Foreign-born: 41% · Canada, China, South Korea
• Languages at home: 37% English-only · Spanish 45% Chinese 7% Other Indo-European 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: ▼ -225.40%
• Current HPI: 460.9539
• Rent YoY: ▲ 5.88%
• 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

+1516.8% since first listed

16 events — show timeline

• 2025-12-01 Listed $1,350,000 CRMLS
• 2024-05-17 Price Changed — TheMLS
• 2024-03-25 Listed — TheMLS
• 2006-04-21 Sold (Public Records) $750,000 Public Records
• 2003-06-09 Sold (Public Records) $475,000 Public Records
• 2003-01-01 Listing Removed — CRMLS
• 2003-01-01 Delisted — TheMLS
• 2002-10-16 Listed $475,000 CRMLS
• 2002-10-16 Listed — TheMLS
• 2002-06-11 Sold (Public Records) $420,000 Public Records
• 2000-11-01 Sold (MLS) $205,000 CRMLS
• 2000-03-21 Listing Removed — CRMLS
• 2000-03-09 Listed $194,000 CRMLS
• 2000-03-09 Listed $188,001 CRMLS
• 1996-12-24 Sold (Public Records) $230,000 Public Records
• 1996-12-11 Sold (Public Records) $83,500 Public Records

Property tax history

-1.7%/yr

Latest (2025): $7,245 · +2.0% YoY. Source: county tax records.