1017 S Herbert Ave · East Los Angeles, CA 90023

$1,050,000

24 bd · 20.0 ba · 2,936 sqft · MultiFamily · 683 Days on market

Built 1958 Fair condition 6,310 sqft lot $358/sqft · 29% above area Est $816k · 29% 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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

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

PRIME LOS ANGELES INCOME PROPERTY UNITS PRICED BELOW MARKET VALUE!!! PROPERTY HAS 4-PLEX + SEPARATE 2 BED HOUSE ON 1 LOT WITH 2 ADDRESSES 1017 and 1019!!! addresses . 4 one -bedroom unit and 1 two-bedroom unit. 1/2 Block from Los Angeles Doctor Hospital. Do not disturb tenants!!! Great opportunity. Currently rent is low for this area

Key facts

• 6,310 sq ft lot
• 4 parking spots
• Built 1958

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/?-bath units multifamily listed at $1.05M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive. Per door: $835/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.05M).
• Recommended offer: $924k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 3.7% in East 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 60/100 on livability (#594 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, schools B+; Watch: employment C-, health & safety 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 flat; 57 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $13,412/mo this rent would consume 273% of the median local household income ($59k/yr) (locally 2670% 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 $7k of loan paydown is wiped out by about $32k 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 683 days — a 12% lower offer ($924k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $100k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — 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 $924,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 683 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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?
10. 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.
11. 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.
12. 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: 1.28% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.63%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (median comp): $815,535
• List price: $1,050,000
• Delta: 28.75%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.21% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $6,101
• Equity at exit: $156,558

10-year hold

• IRR: 7.1%
• Equity multiple: 1.47×
• Total profit: $137,839
• Equity at exit: $90,785

Cash invested: $294,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90023

• Rents YoY: 0.2%
• Active inventory: 57
• Price-to-rent: 26.1×

Monthly cashflow live

• Estimated rent: $13,412 medium
• Mortgage (P&I): −$5,506
• Tax est. 1.5%: −$1,312 /mo · $15,750/yr
• Insurance: −$438
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,817
• Net cashflow: $3,339

Break-even live

Break-even rent $9,185

Max offer price $1,050,000

Occupancy floor 70%

Sensitivity live

Price	-10% $4,065	-5% $3,702	+0% $3,339	+5% $2,976	+10% $2,614
Rent	-10% $2,280	-5% $2,809	+0% $3,339	+5% $3,869	+10% $4,399
Rate	-1.0pp $3,868	-0.5pp $3,606	base $3,339	+0.5pp $3,067	+1.0pp $2,790

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	—	$13,412
Total (4 units)			$13,412

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: $262,500
• Closing costs: $31,500
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-13
   days on market $1,050,000 Active 683 DOM
2. 2026-06-09
   days on market $1,050,000 Active 679 DOM
3. 2026-06-08
   days on market $1,050,000 Active 678 DOM
4. 2026-06-07
   days on market $1,050,000 Active 677 DOM
5. 2026-06-04
   days on market $1,050,000 Active 674 DOM
6. 2026-06-03
   days on market $1,050,000 Active 673 DOM
7. 2026-06-02
   days on market $1,050,000 Active 672 DOM
8. 2026-06-01
   days on market $1,050,000 Active 671 DOM
9. 2026-05-31
   days on market $1,050,000 Active 670 DOM
10. 2024-10-15
    price $1,050,000 336-char remark

    Show marketing remark (336 chars)

    PRIME LOS ANGELES INCOME PROPERTY UNITS PRICED BELOW MARKET VALUE!!! PROPERTY HAS 4-PLEX + SEPARATE 2 BED HOUSE ON 1 LOT WITH 2 ADDRESSES 1017 and 1019!!! addresses . 4 one -bedroom unit and 1 two-bedroom unit. 1/2 Block from Los Angeles Doctor Hospital. Do not disturb tenants!!! Great opportunity. Currently rent is low for this area

11. 2024-07-30
    listed $1,150,000 Active 336-char remark

    Show marketing remark (336 chars)

    PRIME LOS ANGELES INCOME PROPERTY UNITS PRICED BELOW MARKET VALUE!!! PROPERTY HAS 4-PLEX + SEPARATE 2 BED HOUSE ON 1 LOT WITH 2 ADDRESSES 1017 and 1019!!! addresses . 4 one -bedroom unit and 1 two-bedroom unit. 1/2 Block from Los Angeles Doctor Hospital. Do not disturb tenants!!! Great opportunity. Currently rent is low for this area

12. 2021-11-02
    historical
13. 2020-03-06
    listed $980,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $160,944
• − Mortgage interest: −$58,816
• − Property taxes: −$15,750
• − Insurance: −$5,250
• − Repairs & maintenance: −$12,876
• − Management: −$12,876
• − Depreciation: −$30,545
• Taxable income: $24,831
• Est. tax owed @ 24.0%: −$5,959
• After-tax cash flow: $34,111/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.

Condition & rehab AI · 7 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations, including new flooring, appliances, and paint, to improve its condition and value.

Repairs flagged

• Major Kitchen flooring — The linoleum flooring in the kitchen is visibly worn and needs replacement.
• Major Living room flooring — The carpet in the living room is worn and needs replacement.
• Major Kitchen appliances — The small refrigerator in the kitchen is outdated and may need replacement.
• Minor Paint — The paint quality is not clear, but there may be minor touch-ups needed.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the property.
• Both Replace carpet — New carpet will improve the living room's appearance and comfort.
• Both Replace linoleum flooring — New flooring will improve the kitchen's appearance and functionality.
• Both Replace small refrigerator — A new refrigerator will improve the kitchen's functionality and appeal.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen flooring · The linoleum flooring in the kitchen is visibly worn and needs replacement.	Major	$15,000–50,000
Living room flooring · The carpet in the living room is worn and needs replacement.	Major	$15,000–50,000
Kitchen appliances · The small refrigerator in the kitchen is outdated and may need replacement.	Major	$15,000–50,000
Paint · The paint quality is not clear, but there may be minor touch-ups needed.	Minor	$500–3,000
Total estimated repair cost · 4 items		$45,500–153,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the property. ↑
• Both Replace carpet — New carpet will improve the living room's appearance and comfort. ↑
• Both Replace linoleum flooring — New flooring will improve the kitchen's appearance and functionality. ↑
• Both Replace small refrigerator — A new refrigerator will improve the kitchen's functionality and appeal. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — East Los Angeles

• Score: 60/100
• State rank: #594
• US rank: #19237

Category grades

Amenities F Commute A+ Cost of living F Crime F Employment C- Housing B- Health & safety D User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 108,740
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 43,857
• Household income: $59,057
• Rent vs Own: 74.7% rent · 25.3% own
• Severe rent burden: 2670.0

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 (96%)
• Race & ethnicity: Hispanic / Latino 96% Two or more races 17% Native American 2% White 2%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Italian 1%
• Foreign-born: 41% · Canada, Jamaica
• Languages at home: 16% English-only · Spanish 83%

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: ▼ -702.74%
• Current HPI: 430.9762
• Rent YoY: ▲ 0.21%
• 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

+7.1% since first listed

4 events — show timeline

• 2024-10-15 Price Changed $1,050,000 CRMLS
• 2024-07-30 Listed $1,150,000 CRMLS
• 2021-11-02 Listing Removed — CRMLS
• 2020-03-06 Listed $980,000 CRMLS