645 W 21st · Los Angeles, CA 90731

$729,000

3 bd · 3.0 ba · 1,584 sqft · MultiFamily public records · 79 Days on market

Built 1923 5,000 sqft lot $460/sqft · 11% below area Est $819k · 11% under

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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 +24.0/30.0
• ARV discount +12.4/15.0
• DSCR +7.7/10.0
• 1% rule +5.6/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Craftsman triplex with 3 detached garages. New roof recently and electrical has been upgraded. Each unit has it own service porch with laundry hookups. Below market rent provides for future upside potential. Short distance to the Marina and West Harbor waterfront.

Key facts

• Upgraded electrical
• Detached garages
• Service porch

Tags

• DETACHED GARAGES
• NEW ROOF
• UPGRADED ELECTRICAL
• SERVICE PORCH
• LAUNDRY HOOKUPS
• WEST HARBOR WATERFRONT

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $729k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $475/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $729k).
• Recommended offer: $685k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 (-1.4%/yr); 123 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $7,715/mo this rent would consume 121% of the median local household income ($76k/yr) (locally 4568% 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 $5k of loan paydown is wiped out by about $22k 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 79 days — a 6% lower offer ($685k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $365k; list at $729k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $685,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% 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 1923 — 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: 1.06% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• GRM: 7.9

CMA / ARV

• ARV (median comp): $818,702
• List price: $729,000
• Delta: -10.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
560 W Hamilton Ave	0.20mi	4/2.0 (+1)	1,560 (-2%)	9mo	$648,000	$415	72
1141 W 21st	0.63mi	3/3.0	1,564 (-1%)	0mo	$700,000	$448	68
1939 South Alma St	0.47mi	3/2.0	1,520 (-4%)	5mo	$799,000	$526	63
2617 S Pacific Ave	0.38mi	3/2.0	1,480 (-7%)	7mo	$780,000	$527	62
430 W 19th STREET St	0.32mi	4/2.0 (+1)	1,516 (-4%)	10mo	$804,000	$530	61
550 W 17th St	0.30mi	2/2.0 (-1)	1,534 (-3%)	14mo	$670,000	$437	60
459 W 19th St	0.27mi	3/3.0	1,690 (+7%)	21mo	$750,000	$444	58
932 W 25th St	0.43mi	3/2.0	1,644 (+4%)	17mo	$811,500	$494	56
727 W 16th St	0.33mi	4/2.0 (+1)	1,523 (-4%)	22mo	$710,000	$466	51
1412 S Mesa St	0.54mi	3/2.5	1,728 (+9%)	8mo	$900,000	$521	51
1108 W 23rd St	0.60mi	3/2.0	1,432 (-10%)	15mo	$890,000	$622	40
1060 W 24th St	0.55mi	4/4.0 (+1)	1,760 (+11%)	12mo	$929,000	$528	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-50,040
• Equity at exit: $108,696

10-year hold

• IRR: -1.2%
• Equity multiple: 0.93×
• Total profit: $-14,468
• Equity at exit: $63,031

Cash invested: $204,120 (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 90731

• Rents YoY: -1.4%
• Active inventory: 123
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $7,715 high
• Mortgage (P&I): −$3,823
• Tax from tax record: −$542 /mo · $6,508/yr
• Insurance: −$304
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,620
• Net cashflow: $1,426

Break-even live

Break-even rent $5,910

Max offer price $729,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,838	-5% $1,632	+0% $1,426	+5% $1,219	+10% $1,013
Rent	-10% $816	-5% $1,121	+0% $1,426	+5% $1,731	+10% $2,035
Rate	-1.0pp $1,793	-0.5pp $1,611	base $1,426	+0.5pp $1,237	+1.0pp $1,045

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$7,716
Total (3 units)			$7,715

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: $182,250
• Closing costs: $21,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2217 S Grand Ave Unit 2 San Pedro, CA	2.0	1.0	1050	$2,300	$2.19	25d	1	0.08mi
555 W 20th St San Pedro, CA	2.0	2.0	1050	$2,695	$2.57	44d	1	0.12mi
2322 S Grand Ave San Pedro, CA	2.0	2.0	1300	$3,300	$2.54	44d	1	0.16mi
533 W 23rd St #9 San Pedro, CA	2.0	2.0	1300	$3,500	$2.69	4d	1	0.18mi
533 W 23rd St #9 San Pedro, CA	2.0	2.0	1300	$3,500	$2.69	0d	1	0.18mi
570 W 24th St Unit 9 San Pedro, CA	2.0	2.0	1200	$2,595	$2.16	14d	1	0.18mi
665 W 24th St San Pedro, CA	2.0	2.0	1222	$3,000	$2.45	44d	1	0.20mi
740 W 24th St San Pedro, CA	2.0	1.0–2.0	1067	$2,887	$2.70	0d	4	0.21mi
2400 S Pacific Ave San Pedro, CA	2.0–4.0	1.0–2.5	1538	$4,298	$2.79	0d	1	0.31mi
529 W 16th St Unit 3 San Pedro, CA	3.0	2.0	1600	$3,195	$2.00	0d	1	0.33mi
922 W 25th St Unit 642 1 San Pedro, CA	3.0	2.0	1250	$2,825	$2.26	44d	1	0.43mi
530 W 14th St San Pedro, CA	3.0	3.0	1900	$3,895	$2.05	0d	1	0.48mi
2905 S Cabrillo Ave San Pedro, CA	2.0	1.0–1.5	1025	$2,822	$2.75	4d	6	0.54mi
976 W Hamilton Ave #3 San Pedro, CA	2.0	2.5	1188	$2,950	$2.48	6d	1	0.54mi
2929 S Pacific Ave San Pedro, CA	4.0	3.0	2081	$3,975	$1.91	44d	1	0.55mi
972 W 14th St Apt 3 San Pedro, CA	2.0	2.0	1100	$2,800	$2.55	6d	1	0.63mi
735 W 31st St San Pedro, CA	3.0	2.0	1082	$2,995	$2.77	44d	1	0.63mi
343 W 12th St Unit 3 San Pedro, CA	2.0	2.0	1200	$2,500	$2.08	44d	1	0.67mi
1166 W 22nd St Unit 2 San Pedro, CA	3.0	2.0	1275	$2,930	$2.30	6d	1	0.68mi
1431 S Beacon St San Pedro, CA	3.0	2.5	1600	$3,695	$2.31	44d	1	0.72mi
1031 W 12th St San Pedro, CA	3.0	3.5	1620	$3,300	$2.04	44d	1	0.75mi
236 W 12th St San Pedro, CA	3.0	1.5	1300	$3,300	$2.54	44d	1	0.77mi
815 S Grand Ave #7 San Pedro, CA	2.0	2.0	1090	$2,400	$2.20	25d	1	0.79mi
815 S Grand Ave San Pedro, CA	2.0	2.0	1090	$2,750	$2.52	44d	1	0.79mi
1045 S Alma St Unit 1 San Pedro, CA	2.0	1.0	1100	$2,375	$2.16	25d	1	0.80mi
3409 S Pacific Ave San Pedro, CA	3.0	2.0	1300	$3,650	$2.81	44d	1	0.84mi
1066 W 11th St #4 San Pedro, CA	2.0	2.0	1281	$3,395	$2.65	44d	1	0.86mi
637 S Grand Ave San Pedro, CA	2.0	2.5	1200	$2,995	$2.50	17d	1	0.90mi
1184 W 11th St Unit 1 San Pedro, CA	2.0	2.0	1100	$2,800	$2.55	8d	1	0.93mi
712 S Alma St San Pedro, CA	4.0	3.5	1360	$3,950	$2.90	2d	1	0.97mi
1331 S Patton Ave San Pedro, CA	2.0	2.0	1200	$2,975	$2.48	15d	1	0.98mi
728 W 37th St San Pedro, CA	2.0	2.0	1600	$4,350	$2.72	44d	1	0.98mi
732 S Leland St San Pedro, CA	4.0	3.0	1400	$3,450	$2.46	44d	1	1.02mi
841 W 5th St #4 San Pedro, CA	4.0	2.0	1186	$3,600	$3.04	25d	1	1.03mi
922 S Patton Ave San Pedro, CA	2.0	2.0	1300	$3,395	$2.61	23d	1	1.10mi
550 S Palos Verdes St San Pedro, CA	1.0–3.0	1.0–2.5	931	$4,083	$4.39	0d	14	1.13mi
255 W 5th St San Pedro, CA	1.0–3.0	1.0–2.5	1105	$5,144	$4.66	0d	22	1.13mi
559 W 39th St San Pedro, CA	3.0	2.0	1456	$4,500	$3.09	44d	1	1.14mi
1554 Plymouth Ln San Pedro, CA	2.0	3.0	1541	$4,200	$2.73	11d	1	1.19mi
511 S Harbor Blvd San Pedro, CA	2.0	1.0–2.0	830	$4,475	$5.39	0d	13	1.23mi

Listing history 27 events

1. 2026-06-21
   days on market $729,000 Active 79 DOM
2. 2026-06-18
   days on market $729,000 Active 76 DOM
3. 2026-06-17
   days on market $729,000 Active 75 DOM
4. 2026-06-16
   days on market $729,000 Active 74 DOM
5. 2026-06-15
   days on market $729,000 Active 73 DOM
6. 2026-06-13
   days on market $729,000 Active 71 DOM
7. 2026-06-09
   days on market $729,000 Active 67 DOM
8. 2026-06-08
   days on market $729,000 Active 66 DOM
9. 2026-06-07
   days on market $729,000 Active 65 DOM
10. 2026-06-04
    days on market $729,000 Active 62 DOM
11. 2026-06-03
    days on market $729,000 Active 61 DOM
12. 2026-06-02
    days on market $729,000 Active 60 DOM
13. 2026-06-01
    days on market $729,000 Active 59 DOM
14. 2026-05-31
    days on market $729,000 Active 58 DOM
15. 2026-04-03
    listed $729,000 Active 265-char remark

    Show marketing remark (265 chars)

    Craftsman triplex with 3 detached garages. New roof recently and electrical has been upgraded. Each unit has it own service porch with laundry hookups. Below market rent provides for future upside potential. Short distance to the Marina and West Harbor waterfront.

16. 2026-01-05
    historical
17. 2025-07-15
    price $799,000
18. 2025-06-23
    listed $849,000 Active
19. 2004-06-21
    soldstatus $365,000
20. 2004-05-03
    listed $399,000
21. 2003-12-26
    price $399,000
22. 2003-12-26
    price $399,000
23. 2003-12-26
    price $399,000
24. 2003-12-25
    price $409,900
25. 2003-12-25
    price $409,900
26. 2003-11-20
    soldstatus $365,000
27. 1996-05-24
    soldstatus $153,000

ⓘ 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: $6,508 · $542/mo
• Projected year-2 tax: $6,508 · $542/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 3/10 Moderate 7 d/yr ≥84°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $92,580
• − Mortgage interest: −$40,835
• − Property taxes: −$6,508
• − Insurance: −$3,645
• − Repairs & maintenance: −$7,406
• − Management: −$7,406
• − Depreciation: −$21,207
• Taxable income: $5,571
• Est. tax owed @ 24.0%: −$1,337
• After-tax cash flow: $15,772/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): 61,944
• Household income: $76,395
• Rent vs Own: 67.4% rent · 32.6% own
• Severe rent burden: 4568.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 57% White 27% Two or more races 18% Asian 5% Black 5% Native American 1%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 26% · Canada, South Korea, Jamaica
• Languages at home: 53% English-only · Spanish 39% Other Indo-European 2% Other Asian/Pacific 2%

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: ▼ -781.38%
• Current HPI: 310.5659
• Rent YoY: ▼ -1.44%
• 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

+376.5% since first listed

13 events — show timeline

• 2026-04-03 Listed $729,000 CRMLS
• 2026-01-05 Listing Removed — CRMLS
• 2025-07-15 Price Changed $799,000 CRMLS
• 2025-06-23 Listed $849,000 CRMLS
• 2004-06-21 Sold (MLS) $365,000 CRMLS
• 2004-05-03 Listed $399,000 CRMLS
• 2003-12-26 Price Changed $399,000 CRMLS
• 2003-12-26 Price Changed $399,000 CRMLS
• 2003-12-26 Price Changed $399,000 CRMLS
• 2003-12-25 Price Changed $409,900 CRMLS
• 2003-12-25 Price Changed $409,900 CRMLS
• 2003-11-20 Sold (Public Records) $365,000 Public Records
• 1996-05-24 Sold (Public Records) $153,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $6,508 · +1.2% YoY. Source: county tax records.