2204 W Slauson · Los Angeles, CA 90043

$3,650,000

9 bd · 9.0 ba · 6,050 sqft · MultiFamily public records · 161 Days on market

Built 1981 0.26 ac lot $603/sqft · 190% above area

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Rent growth +3.8/5.0
• 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 (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

Offered at an attractive basis of approximately $228,125 per unit, 2204 Slauson Avenue presents a compelling 16-unit multifamily investment opportunity in South Los Angeles. The property features a well-balanced unit mix of (6) Studio units and (10) One-Bedroom/One-Bathroom units, providing broad tenant appeal and consistent demand. Current in-place income delivers a strong 6.90% CAP rate and 9.65 GRM, offering immediate cash flow with room for future growth. The asset also presents meaningful upside potential, with projected market performance reaching a 7.63% CAP rate and 8.82 market GRM through rental optimization. This combination of stable existing income and value-add opportunity positions the property well for both long-term hold and yield-focused investors. Located in the Van Ness neighborhood of South Los Angeles, west of South Central and northeast of Inglewood, the property benefits from a central infill location with proximity to major employment centers, transportation corridors, and continued investment activity throughout the surrounding submarkets. 2204 Slauson Avenue offers investors a rare opportunity to acquire scale, cash flow, and upside at a compelling cost basis in a supply-constrained rental market.

Key facts

• Immediate cash flow
• Strong cap rate
• 0.26 acre lot

Tags

• WELL-BALANCED UNIT MIX
• STRONG CAP RATE
• IMMEDIATE CASH FLOW
• MEANINGFUL UPSIDE POTENTIAL
• CENTRAL INFILL LOCATION

What this means for you Summary

Snapshot

• This is a 10×10bd/16.0ba + 6×1bd/1.0ba units multifamily listed at $3.65M.

Deal economics

• At list price, monthly cash flow is $10k ($120k/yr) — positive. Per door: $625/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($42k rent vs $3.65M).
• Recommended offer: $3.21M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 rising fast (+5.0%/yr); 142 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $41,944/mo this rent would consume 777% of the median local household income ($65k/yr) (locally 3295% 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 $25k of loan paydown is wiped out by about $110k 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 + 5.0% rent growth), your $1.02M cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($3.21M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y ago; this cycle's ask has dropped $600k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $2.17M; list at $3.65M implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,212,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.15% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.75%
• DSCR: 1.52
• GRM: 7.3

CMA / ARV

• ARV (median comp): $1,257,297
• List price: $3,650,000
• Delta: 190.31%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2900 W 54th St	0.50mi	8/10.0 (-1)	6,755 (+12%)	18mo	$1,500,000	$222	34

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 · 5.01% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.13×
• Total profit: $131,744
• Equity at exit: $544,227

10-year hold

• IRR: 14.5%
• Equity multiple: 2.27×
• Total profit: $1,302,683
• Equity at exit: $315,585

Cash invested: $1,022,000 (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 90043

• Rents YoY: 5.0%
• Active inventory: 142
• Price-to-rent: 98.6×

Monthly cashflow live

• Estimated rent: $41,944 medium
• Mortgage (P&I): −$19,141
• Tax from tax record: −$2,467 /mo · $29,607/yr
• Insurance: −$1,521
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,808
• Net cashflow: $10,007

Break-even live

Break-even rent $29,277

Max offer price $3,650,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 10× units	10	16	$30,860
▸ 6× units	1	1	$11,082
Total (16 units)			$41,944

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: $912,500
• Closing costs: $109,500
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $3,650,000 Active 161 DOM
2. 2026-06-17
   days on market $3,650,000 Active 160 DOM
3. 2026-06-16
   days on market $3,650,000 Active 159 DOM
4. 2026-06-15
   days on market $3,650,000 Active 158 DOM
5. 2026-06-13
   days on market $3,650,000 Active 156 DOM
6. 2026-06-09
   days on market $3,650,000 Active 152 DOM
7. 2026-06-08
   days on market $3,650,000 Active 151 DOM
8. 2026-06-07
   days on market $3,650,000 Active 150 DOM
9. 2026-06-04
   days on market $3,650,000 Active 147 DOM
10. 2026-06-03
    days on market $3,650,000 Active 146 DOM
11. 2026-06-02
    days on market $3,650,000 Active 145 DOM
12. 2026-06-01
    days on market $3,650,000 Active 144 DOM
13. 2026-05-31
    days on market $3,650,000 Active 143 DOM
14. 2026-04-14
    price $3,650,000 1242-char remark

    Show marketing remark (1242 chars)

    Offered at an attractive basis of approximately $228,125 per unit, 2204 Slauson Avenue presents a compelling 16-unit multifamily investment opportunity in South Los Angeles. The property features a well-balanced unit mix of (6) Studio units and (10) One-Bedroom/One-Bathroom units, providing broad tenant appeal and consistent demand. Current in-place income delivers a strong 6.90% CAP rate and 9.65 GRM, offering immediate cash flow with room for future growth. The asset also presents meaningful upside potential, with projected market performance reaching a 7.63% CAP rate and 8.82 market GRM through rental optimization. This combination of stable existing income and value-add opportunity positions the property well for both long-term hold and yield-focused investors. Located in the Van Ness neighborhood of South Los Angeles, west of South Central and northeast of Inglewood, the property benefits from a central infill location with proximity to major employment centers, transportation corridors, and continued investment activity throughout the surrounding submarkets. 2204 Slauson Avenue offers investors a rare opportunity to acquire scale, cash flow, and upside at a compelling cost basis in a supply-constrained rental market.

15. 2026-03-03
    price $3,999,000 1242-char remark

    Show marketing remark (1242 chars)

    Offered at an attractive basis of approximately $228,125 per unit, 2204 Slauson Avenue presents a compelling 16-unit multifamily investment opportunity in South Los Angeles. The property features a well-balanced unit mix of (6) Studio units and (10) One-Bedroom/One-Bathroom units, providing broad tenant appeal and consistent demand. Current in-place income delivers a strong 6.90% CAP rate and 9.65 GRM, offering immediate cash flow with room for future growth. The asset also presents meaningful upside potential, with projected market performance reaching a 7.63% CAP rate and 8.82 market GRM through rental optimization. This combination of stable existing income and value-add opportunity positions the property well for both long-term hold and yield-focused investors. Located in the Van Ness neighborhood of South Los Angeles, west of South Central and northeast of Inglewood, the property benefits from a central infill location with proximity to major employment centers, transportation corridors, and continued investment activity throughout the surrounding submarkets. 2204 Slauson Avenue offers investors a rare opportunity to acquire scale, cash flow, and upside at a compelling cost basis in a supply-constrained rental market.

16. 2026-01-08
    listed $4,250,000 Active 1242-char remark

    Show marketing remark (1242 chars)

    Offered at an attractive basis of approximately $228,125 per unit, 2204 Slauson Avenue presents a compelling 16-unit multifamily investment opportunity in South Los Angeles. The property features a well-balanced unit mix of (6) Studio units and (10) One-Bedroom/One-Bathroom units, providing broad tenant appeal and consistent demand. Current in-place income delivers a strong 6.90% CAP rate and 9.65 GRM, offering immediate cash flow with room for future growth. The asset also presents meaningful upside potential, with projected market performance reaching a 7.63% CAP rate and 8.82 market GRM through rental optimization. This combination of stable existing income and value-add opportunity positions the property well for both long-term hold and yield-focused investors. Located in the Van Ness neighborhood of South Los Angeles, west of South Central and northeast of Inglewood, the property benefits from a central infill location with proximity to major employment centers, transportation corridors, and continued investment activity throughout the surrounding submarkets. 2204 Slauson Avenue offers investors a rare opportunity to acquire scale, cash flow, and upside at a compelling cost basis in a supply-constrained rental market.

17. 2021-04-16
    soldstatus $2,170,000 Sold 962-char remark

    Show marketing remark (962 chars)

    Slauson Manor Apartments is a vacant 9-unit building adjacent to the Crenshaw Boulevard commercial corridor. Slauson Manor Apartments is not subject to LA City rent control and provides an opportunity to either lease-up and enjoy immediate cash-flow or make cosmetic upgrades to unit interiors to achieve higher rents. Cap rates are approximately 100 basis points higher in the greater Inglewood submarket than Los Angeles as a whole, offering a potential stabilized yield of over 10%. The submarkets rent levels are below the metro-wide average and is consequently one of the few areas that have experienced rent growth since the start of the pandemic, with a YoY increase of 1.7% from 2019 to 2020. As the economy returns to pre-pandemic levels and rents continue to rise, the buildings non rent-controlled status will allow the operator to increase rents at a rate that keeps pace with the market. Built in 1981, the 6,050 square-foot courtyard-style building

18. 2021-04-12
    status Pending 962-char remark

    Show marketing remark (962 chars)

    Slauson Manor Apartments is a vacant 9-unit building adjacent to the Crenshaw Boulevard commercial corridor. Slauson Manor Apartments is not subject to LA City rent control and provides an opportunity to either lease-up and enjoy immediate cash-flow or make cosmetic upgrades to unit interiors to achieve higher rents. Cap rates are approximately 100 basis points higher in the greater Inglewood submarket than Los Angeles as a whole, offering a potential stabilized yield of over 10%. The submarkets rent levels are below the metro-wide average and is consequently one of the few areas that have experienced rent growth since the start of the pandemic, with a YoY increase of 1.7% from 2019 to 2020. As the economy returns to pre-pandemic levels and rents continue to rise, the buildings non rent-controlled status will allow the operator to increase rents at a rate that keeps pace with the market. Built in 1981, the 6,050 square-foot courtyard-style building

19. 2021-03-05
    price $2,195,000 962-char remark

    Show marketing remark (962 chars)

    Slauson Manor Apartments is a vacant 9-unit building adjacent to the Crenshaw Boulevard commercial corridor. Slauson Manor Apartments is not subject to LA City rent control and provides an opportunity to either lease-up and enjoy immediate cash-flow or make cosmetic upgrades to unit interiors to achieve higher rents. Cap rates are approximately 100 basis points higher in the greater Inglewood submarket than Los Angeles as a whole, offering a potential stabilized yield of over 10%. The submarkets rent levels are below the metro-wide average and is consequently one of the few areas that have experienced rent growth since the start of the pandemic, with a YoY increase of 1.7% from 2019 to 2020. As the economy returns to pre-pandemic levels and rents continue to rise, the buildings non rent-controlled status will allow the operator to increase rents at a rate that keeps pace with the market. Built in 1981, the 6,050 square-foot courtyard-style building

20. 2021-01-27
    listed $2,295,000 Active 962-char remark

    Show marketing remark (962 chars)

    Slauson Manor Apartments is a vacant 9-unit building adjacent to the Crenshaw Boulevard commercial corridor. Slauson Manor Apartments is not subject to LA City rent control and provides an opportunity to either lease-up and enjoy immediate cash-flow or make cosmetic upgrades to unit interiors to achieve higher rents. Cap rates are approximately 100 basis points higher in the greater Inglewood submarket than Los Angeles as a whole, offering a potential stabilized yield of over 10%. The submarkets rent levels are below the metro-wide average and is consequently one of the few areas that have experienced rent growth since the start of the pandemic, with a YoY increase of 1.7% from 2019 to 2020. As the economy returns to pre-pandemic levels and rents continue to rise, the buildings non rent-controlled status will allow the operator to increase rents at a rate that keeps pace with the market. Built in 1981, the 6,050 square-foot courtyard-style building

21. 2019-09-11
    soldstatus $1,600,000
22. 2001-03-16
    soldstatus $375,000
23. 2000-10-15
    historical
24. 2000-04-15
    listed

ⓘ 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: $29,607 · $2,467/mo
• Projected year-2 tax: $29,607 · $2,467/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 3/10 Moderate FEMA zone X (shaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥87°F today · 19 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: $503,328
• − Mortgage interest: −$204,457
• − Property taxes: −$29,607
• − Insurance: −$18,250
• − Repairs & maintenance: −$40,266
• − Management: −$40,266
• − Depreciation: −$106,182
• Taxable income: $64,300
• Est. tax owed @ 24.0%: −$15,432
• After-tax cash flow: $104,648/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): 42,377
• Household income: $64,792
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 3295.0

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 0.58)
• Race & ethnicity: Black 58% Hispanic / Latino 26% Two or more races 16% White 6% Asian 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: British 2% Lithuanian 1% Italian 1%
• Foreign-born: 18% · Canada, South Korea, Jamaica
• Languages at home: 70% English-only · Spanish 25% 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: ▼ -1382.39%
• Current HPI: 434.3031
• Rent YoY: ▲ 5.01%
• 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

+873.3% since first listed

11 events — show timeline

• 2026-04-14 Price Changed $3,650,000 CRMLS
• 2026-03-03 Price Changed $3,999,000 CRMLS
• 2026-01-08 Listed $4,250,000 CRMLS
• 2021-04-16 Sold (MLS) $2,170,000 TheMLS
• 2021-04-12 Pending — TheMLS
• 2021-03-05 Price Changed $2,195,000 TheMLS
• 2021-01-27 Listed $2,295,000 TheMLS
• 2019-09-11 Sold (Public Records) $1,600,000 Public Records
• 2001-03-16 Sold (Public Records) $375,000 Public Records
• 2000-10-15 Delisted — TheMLS
• 2000-04-15 Listed — TheMLS

Property tax history

+9.5%/yr

Latest (2025): $29,607 · +1.3% YoY. Source: county tax records.