1131 Lodi Pl · Los Angeles, CA 90038

$2,250,000

15 bd · 9.0 ba · 9,075 sqft · MultiFamily public records · 22 Days on market

Built 1927 6,768 sqft lot Est $2686k · 16% 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 +25.1/30.0
• ARV discount +14.8/15.0
• DSCR +8.2/10.0
• 1% rule +6.6/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• 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: 9 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

Prime Hollywood Character Asset Below Replacement Cost! Offered at $2,250,000, 1131-33 Lodi Pl represents an incredibly compelling acquisition basis at approximately $250,000 per unit and $247.93 per square foot. Built in 1927, this vintage 9-unit property boasts classic architectural character that stands out from generic inventory, providing an excellent repositioning opportunity to blend historic charm with modern upgrades. The building features a highly desirable rental mix of three 1-bedroom/1-bath units and six large 2-bedroom/1-bath units perfectly aligned with current tenant demand. Situated in a prime, high-demand Hollywood location, the property benefits from immediate proximity t

Key facts

• Modern upgrades
• Hollywood location
• Historic charm

Tags

• HOLLYWOOD LOCATION
• VINTAGE PROPERTY
• HISTORIC CHARM
• MODERN UPGRADES

Property features AI

Finance

• Financial info: Actual annual gross rent approximately $212,366; Gross income $215,934; Gross operating income approximately $209,563; Net operating income approximately $131,335; Total annual expenses approximately $78,228; Cap rate 5.84%; Gross rent multiplier 10.59; Vacancy allowance approximately $6,371 (about 3%); Income reported as Actual
• HOA & community: Nine total units in the complex

Exterior

• Parking: No garage
• Home design: Residential income property; Multi-level building
• Exterior features: One building; No other structures; Zoned LARD1.5; Lot about 0.155 acres

Interior

• Bedrooms: Three 1-bed units; Six 2-bed units
• Bathrooms: Units with one bathroom each
• Heating & cooling: Window-unit cooling; No heat
• Interior features: Window-unit cooling; No built-in heating

What this means for you Summary

Snapshot

• This is a 3×1bd/1ba + 6×2bd/1ba units multifamily listed at $2.25M.

Deal economics

• At list price, monthly cash flow is $5k ($59k/yr) — positive. Per door: $551/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($26k rent vs $2.25M).
• Recommended offer: $2.22M (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 flat; 87 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $25,998/mo this rent would consume 508% of the median local household income ($61k/yr) (locally 4038% 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 $16k of loan paydown is wiped out by about $68k 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 22 days — a 2% lower offer ($2.22M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1927 — 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 $2,216,250 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.16% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.44%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $2,686,200
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5923 Carlton Way	0.68mi	16/16.0 (+1)	9,248 (+2%)	6mo	$2,450,000	$265	40
5700 La Mirada Ave	0.58mi	14/14.0 (-1)	8,445 (-7%)	13mo	$2,500,000	$296	30

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-108,010
• Equity at exit: $335,482

10-year hold

• IRR: 2.0%
• Equity multiple: 1.13×
• Total profit: $80,917
• Equity at exit: $194,539

Cash invested: $630,000 (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 90038

• Rents YoY: 0.7%
• Active inventory: 87
• Price-to-rent: 70.8×

Monthly cashflow live

• Estimated rent: $25,998 high
• Mortgage (P&I): −$11,799
• Tax from tax record: −$2,844 /mo · $34,131/yr
• Insurance: −$938
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,460
• Net cashflow: $4,957

Break-even live

Break-even rent $19,723

Max offer price $2,250,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$7,941
▸ 6× units	2	1	$18,060
Total (9 units)			$25,998

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: $562,500
• Closing costs: $67,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $2,250,000 Active 22 DOM
2. 2026-06-17
   days on market $2,250,000 Active 21 DOM
3. 2026-06-16
   days on market $2,250,000 Active 20 DOM
4. 2026-06-15
   days on market $2,250,000 Active 19 DOM
5. 2026-06-13
   days on market $2,250,000 Active 17 DOM
6. 2026-06-09
   days on market $2,250,000 Active 13 DOM
7. 2026-06-08
   days on market $2,250,000 Active 12 DOM
8. 2026-06-07
   days on market $2,250,000 Active 11 DOM
9. 2026-06-04
   days on market $2,250,000 Active 8 DOM
10. 2026-06-03
    days on market $2,250,000 Active 7 DOM
11. 2026-06-02
    days on market $2,250,000 Active 6 DOM
12. 2026-06-01
    days on market $2,250,000 Active 5 DOM
13. 2026-05-31
    days on market $2,250,000 Active 4 DOM
14. 2026-05-27
    listed $2,250,000 Active
15. 2023-08-17
    historical
16. 2018-11-21
    soldstatus $2,465,000
17. 1988-07-06
    soldstatus $365,000
18. 1978-02-07
    soldstatus $137,000

ⓘ 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: $34,131 · $2,844/mo
• Projected year-2 tax: $34,131 · $2,844/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 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 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $311,976
• − Mortgage interest: −$126,035
• − Property taxes: −$34,131
• − Insurance: −$11,250
• − Repairs & maintenance: −$24,958
• − Management: −$24,958
• − Depreciation: −$65,455
• Taxable income: $25,189
• Est. tax owed @ 24.0%: −$6,045
• After-tax cash flow: $53,444/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): 27,127
• Household income: $61,454
• Rent vs Own: 91.8% rent · 8.2% own
• Severe rent burden: 4038.0

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 49% White 31% Two or more races 15% Asian 7% Black 7% Native American 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Romanian 2% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 39% · Canada, South Korea, Jamaica
• Languages at home: 44% English-only · Spanish 43% Other Indo-European 4% Tagalog/Filipino 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: ▼ -461.01%
• Current HPI: 349.1001
• Rent YoY: ▲ 0.67%
• 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

+1542.3% since first listed

5 events — show timeline

• 2026-05-27 Listed $2,250,000 TheMLS
• 2023-08-17 Rental Removed — APPFOLIO
• 2018-11-21 Sold (Public Records) $2,465,000 Public Records
• 1988-07-06 Sold (Public Records) $365,000 Public Records
• 1978-02-07 Sold (Public Records) $137,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $34,131 · +1.3% YoY. Source: county tax records.