2219 Crenshaw Blvd · Los Angeles, CA 90016

$1,695,000

10 bd · 7.0 ba · 6,236 sqft · MultiFamily public records · 31 Days on market

Built 1962 7,165 sqft lot Est $1603k · 6% over

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Why this score? — see what drove the D- 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 +13.6/30.0
• ARV discount +4.9/15.0
• DSCR +4.1/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• Rent growth +2.8/5.0
• 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: 3 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

Great building in mid city. Seven (7) units with a great mix 2+2 (3), 1+1 (3) and a single. Owner has recently had four (4) units vacated for a new buyer to bring in their own tenants. Working to vacate a 5th. New upgraded electrical panel installed last year, soft story retrofit completed, solid building.

Key facts

• 7,165 sq ft lot
• 7 parking spots
• Built 1962

Property features AI

Finance

• Other: Subject to rent control; Property sold as-is; Owner pays water and gardener; tenants pay gas and electric; Laundry equipment is leased
• Financial info: Actual annual gross rent reported at $179,196; Actual rent total reported at $131,316; Gross operating income reported at $131,316; Net operating income reported at $83,300; Total annual expenses reported at $95,896 (includes insurance, water, management, maintenance, taxes, trash, gardener, supplies, other); Cap rate listed at 4.9; Gross rent multiplier listed at 9; Vacancy rate listed at 18%; Listing terms include cash, cash to new loan, contract and exchange
• HOA & community: Seven units in the complex; No athletic courts

Exterior

• Parking: Carport; Assigned parking; Driveway gate; Total of 7 parking spaces
• Utilities: Public/district water; Sewer connected and paid; Tenants pay gas and electric; owner pays water and gardener
• Home design: Residential income property; Attached common walls (multi-unit); Two total floors, primarily one-level units; Faces south; Fee simple land
• Construction: Frame construction; Tar and gravel roof; Other type foundation
• Exterior features: Fenced yard; Curbs; Irregular-shaped single lot; No patio features listed; No other structures

Interior

• Kitchen: Gas/Electric range; Range/oven; Garbage disposal
• Bedrooms: Units include 0–2 bedrooms (mix of studio, 1‑ and 2‑bedroom apartments)
• Flooring: Tile and mixed flooring
• Bathrooms: Low-flow toilets; Remodeled baths
• Heating & cooling: Natural gas heating; Wall heaters; No central cooling
• Interior features: Main level entry; Screens and mini blinds on windows; Remodeled bathrooms; Remodeled kitchens
• Laundry & utility: Community laundry with leased equipment; Gas water heater(s)

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $1.70M.

Deal economics

• At list price, monthly cash flow is $95 ($1k/yr) — positive. Per door: $32/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.37M (19.4% below list).
• Recommended offer: $1.37M (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 (+1.1%/yr); 149 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $13,665/mo this rent would consume 223% of the median local household income ($74k/yr) (locally 3450% 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 $12k of loan paydown is wiped out by about $51k 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 31 days — a 3% lower offer ($1.64M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $136k; list at $1.70M implies a 1146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $1,366,500 (19.4% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 19% 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 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.81% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $1,602,652
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3936 Montclair	0.58mi	9/8.0 (-1)	6,215 (-0%)	1mo	$1,000,000	$161	63
3837 Montclair St	0.64mi	10/9.0	6,043 (-3%)	19mo	$1,555,000	$257	41

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 · 1.12% rent growth · sell at horizon

5-year hold

• IRR: -17.9%
• Equity multiple: 0.38×
• Total profit: $-294,409
• Equity at exit: $252,730

10-year hold

• IRR: -13.8%
• Equity multiple: 0.26×
• Total profit: $-350,537
• Equity at exit: $146,553

Cash invested: $474,600 (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 90016

• Rents YoY: 1.1%
• Active inventory: 149
• Price-to-rent: 31.0×

Monthly cashflow live

• Estimated rent: $13,665 high
• Mortgage (P&I): −$8,889
• Tax from tax record: −$1,105 /mo · $13,265/yr
• Insurance: −$706
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,870
• Net cashflow: $95

Break-even live

Break-even rent $13,545

Max offer price $1,695,000

Occupancy floor 94%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$13,665
Total (3 units)			$13,665

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: $423,750
• Closing costs: $50,850
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $1,695,000 Active 31 DOM
2. 2026-06-17
   remarks 307-char remark
3. 2026-06-17
   days on market $1,695,000 Active 30 DOM
4. 2026-06-16
   days on market $1,695,000 Active 29 DOM
5. 2026-06-15
   days on market $1,695,000 Active 28 DOM
6. 2026-06-13
   days on market $1,695,000 Active 26 DOM
7. 2026-06-09
   days on market $1,695,000 Active 22 DOM
8. 2026-06-08
   days on market $1,695,000 Active 21 DOM
9. 2026-06-07
   days on market $1,695,000 Active 20 DOM
10. 2026-06-04
    days on market $1,695,000 Active 17 DOM
11. 2026-06-03
    days on market $1,695,000 Active 16 DOM
12. 2026-06-02
    days on market $1,695,000 Active 15 DOM
13. 2026-06-01
    days on market $1,695,000 Active 14 DOM
14. 2026-05-31
    days on market $1,695,000 Active 13 DOM
15. 2026-05-14
    listed $1,695,000 Active
16. 2025-09-01
    historical $1,995
17. 2025-07-31
    listed $1,995
18. 2025-06-26
    historical $1,995
19. 2025-02-28
    listed $1,995
20. 1979-06-27
    soldstatus $136,000
21. 1978-02-17
    soldstatus $77,000

ⓘ 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: $13,265 · $1,105/mo
• Projected year-2 tax: $13,265 · $1,105/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 ≥89°F today · 21 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: $163,980
• − Mortgage interest: −$94,946
• − Property taxes: −$13,265
• − Insurance: −$8,475
• − Repairs & maintenance: −$13,118
• − Management: −$13,118
• − Depreciation: −$49,309
• Taxable loss: −$28,252
• Est. tax savings @ 24.0%: +$6,781
• After-tax cash flow: $7,919/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): 46,457
• Household income: $73,516
• Rent vs Own: 65.1% rent · 34.9% own
• Severe rent burden: 3450.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 52% Black 27% Two or more races 18% White 12% Asian 4%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: British 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 30% · Canada, South Korea, China
• Languages at home: 47% English-only · Spanish 47% French/Haitian/Cajun 1% Chinese 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: ▼ -991.94%
• Current HPI: 584.0673
• Rent YoY: ▲ 1.12%
• 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

+2101.3% since first listed

7 events — show timeline

• 2026-05-14 Listed $1,695,000 TheMLS
• 2025-09-01 Rental Removed $1,995 CLAW
• 2025-07-31 Listed for Rent $1,995 CLAW
• 2025-06-26 Rental Removed $1,995 CLAW
• 2025-02-28 Listed for Rent $1,995 CLAW
• 1979-06-27 Sold (Public Records) $136,000 Public Records
• 1978-02-17 Sold (Public Records) $77,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $13,265 · +1.5% YoY. Source: county tax records.