8788 Shoreham Dr #23 · West Hollywood, CA 90069

$999,000

2 bd · 3.0 ba · 2,250 sqft · Condo public records · 5 Days on market

Built 2006 $444/sqft · 38% below area Est $1618k · 38% under $1075/mo HOA · 13% of rent ↓ 28% since listing

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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).

• ARV discount +15.0/15.0
• Appreciation +5.4/10.0
• Cash flow +5.3/30.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• DSCR +0.0/10.0

Listing remarks

Immerse yourself in the glamour and excitement of West Hollywood while enjoying the comforts of a private, luxurious retreat. This sought after Shoreham Villas condominium includes immaculate living spaces adorned with high end finishes, featuring a gourmet Italian kitchen with top of the line Viking appliances, sleek cabinetry, elongated hallways, spa like bathrooms, multiple spacious closets and a lofty living area with a switch activated fireplace that is perfect for entertaining. Brazilian hardwood floors throughout adorn the open floor plan with high ceilings and city views from all angles. Furthermore, this unit includes two entrances with an elevator steps away from each front door g

Key facts

• Open floor plan
• Lofty living area
• Spa like bathrooms

Tags

• GOURMET ITALIAN KITCHEN
• SPA LIKE BATHROOMS
• LOFTY LIVING AREA
• SWITCH ACTIVATED FIREPLACE
• BRAZILIAN HARDWOOD FLOORS
• OPEN FLOOR PLAN

Property features AI

Finance

• Other: Complex name: The Shoreham Villas
• HOA & community: Monthly HOA dues; HOA fee billed monthly; Community of 15 units; Pets allowed per association rules

Exterior

• Parking: Gated, side-by-side 2-car garage; 2 covered parking spaces
• Security: Gated parking; Alarm system
• Utilities: Standard municipal utilities
• Home design: Residential condo/co-op; Attached condominium; One level; Unit located on the 2nd floor
• Construction: Attached/common walls
• Exterior features: Sun deck; City view

Interior

• Kitchen: Dishwasher; Range/oven; Refrigerator; Freezer; Trash compactor
• Bedrooms: Entry floor number 2
• Flooring: Hardwood floors
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heat; Central cooling
• Interior features: Den/office; Breakfast room; Gas fireplace; Alarm system; Has city view
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $999k.

Deal economics

• At list price, monthly cash flow is $-2k ($-27k/yr) — negative.
• To cash-flow at today's rent, offer at most $609k (39.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $807k (19.2% below list).
• Recommended offer: $609k (39.1% below list) — sets the bar for cash-flow.
• Cap rate 3.6% vs local median 1.5% in West Hollywood — 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 70/100 on livability (#239 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B+; Watch: health & safety C-, crime F, cost of living 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.
• Zoned schools: West Hollywood Elementary (307 students, 30% FRL); Hubert Howe Bancroft Middle (446 students, 92% FRL); Fairfax Senior High (math 40% / reading 61%, grade D+, #324 of 1,170 statewide, top 28%, 1,632 students, 81% FRL) — zoned schools at 68% FRL track the district average.
• Market conditions: Rents soft (-0.5%/yr); 384 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $8,067/mo this rent would consume 90% of the median local household income ($108k/yr) (locally 2412% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($7k loan paydown + $8k appreciation (0.8% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 5, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 18 sale attempts since 11y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $608,705 (39.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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. 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?
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: 0.81% ✗
• Cap rate: 3.64%
• Cash-on-cash: -9.48%
• DSCR: 0.58
• GRM: 10.3

CMA / ARV

• ARV (median comp): $1,618,380
• List price: $999,000
• Delta: -16.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

0.76% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.44×
• Total profit: $-156,081
• Equity at exit: $328,746

10-year hold

• IRR: -7.4%
• Equity multiple: 0.18×
• Total profit: $-230,276
• Equity at exit: $427,519

Cash invested: $279,720 (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 90069

• Home prices YoY: 0.2%
• Rents YoY: -0.5%
• Active inventory: 384
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $8,067 high
• Mortgage (P&I): −$5,239
• Tax from tax record: −$1,852 /mo · $22,226/yr
• Insurance: −$416
• HOA: −$1,075
• Vacancy / Maint / Mgmt: −$1,694
• Net cashflow: $-2,209

Break-even live

Break-even rent $10,864

Max offer price $608,705

Occupancy floor —

Sensitivity live

Price	-10% $-1,644	-5% $-1,927	+0% $-2,209	+5% $-2,492	+10% $-2,775
Rent	-10% $-2,847	-5% $-2,528	+0% $-2,209	+5% $-1,891	+10% $-1,572
Rate	-1.0pp $-1,706	-0.5pp $-1,955	base $-2,209	+0.5pp $-2,468	+1.0pp $-2,732

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1217 Horn Ave #104 West Hollywood, CA	2.0	2.5	2500	$6,395	$2.56	16d	1	0.07mi
1217 Horn Ave #101 West Hollywood, CA	2.0	2.5	2600	$6,750	$2.60	45d	1	0.07mi
1211 Sunset Plaza Dr West Hollywood, CA	2.0	2.0	1594	$5,800	$3.64	14d	1	0.12mi
1285 Sunset Plaza Dr Los Angeles, CA	3.0	3.5	2691	$19,000	$7.06	45d	1	0.21mi
1328 Londonderry View Dr Los Angeles, CA	3.0	3.0	3000	$11,995	$4.00	45d	1	0.30mi
1326 Londonderry View Dr Unit 3 Los Angeles, CA	2.0	2.0	2500	$4,500	$1.80	45d	1	0.30mi
1326 Londonderry View Dr Unit 5 Los Angeles, CA	2.0	2.0	1600	$6,795	$4.25	45d	1	0.30mi
1326 Londonderry View Dr Unit 7 Los Angeles, CA	2.0	2.0	1800	$7,850	$4.36	45d	1	0.30mi
1100 Alta Loma Rd #1405 West Hollywood, CA	2.0	3.0	2246	$13,000	$5.79	45d	1	0.34mi
1100 Alta Loma Rd #1103 West Hollywood, CA	2.0	2.5	1607	$9,450	$5.88	1d	1	0.34mi
9014 Harratt St West Hollywood, CA	3.0	2.0	2000	$7,995	$4.00	45d	1	0.35mi
8641 Metz Pl Los Angeles, CA	3.0	3.5	2244	$10,800	$4.81	26d	1	0.36mi
1155 N La Cienega Blvd West Hollywood, CA	1.0–3.0	1.0–3.0	1449	$7,300	$5.04	16d	4	0.36mi
832 Palm Ave #305 West Hollywood, CA	3.0	2.5	1790	$5,100	$2.85	45d	1	0.36mi
8500 Sunset Blvd Unit E801 West Hollywood, CA	2.0	2.0	2034	$14,000	$6.88	45d	1	0.40mi
8500 W Sunset Blvd West Hollywood, CA	2.0	1.0–2.5	1197	$11,460	$9.57	1d	10	0.40mi
9042 Phyllis Ave Unit A West Hollywood, CA	3.0	4.0	1780	$7,250	$4.07	12d	1	0.43mi
8455 Fountain Ave #308 West Hollywood, CA	2.0	2.0	1636	$5,900	$3.61	3d	1	0.46mi
831 Westbourne Dr West Hollywood, CA	3.0	2.5	1858	$6,500	$3.50	45d	1	0.46mi
1146 Hacienda Pl Unit 2 West Hollywood, CA	3.0	3.0	1900	$7,200	$3.79	26d	1	0.47mi
1146 Hacienda Pl Unit 3 West Hollywood, CA	3.0	2.5	1900	$7,200	$3.79	9d	1	0.47mi
1146 Hacienda Pl Unit 4 West Hollywood, CA	3.0	2.5	1900	$7,500	$3.95	45d	1	0.47mi
1146 Hacienda Pl Unit 3 West Hollywood, CA	3.0	2.5	1900	$7,200	$3.79	19d	1	0.47mi
1146 Hacienda Pl Unit 7 West Hollywood, CA	3.0	2.0	1700	$7,000	$4.12	5d	1	0.47mi
8730 Hollywood Blvd Los Angeles, CA	3.0	2.0	2000	$8,000	$4.00	45d	1	0.48mi
824 Westmount Dr #2 West Hollywood, CA	3.0	2.5	1885	$6,500	$3.45	13d	1	0.51mi
1528 Rising Glen Rd Los Angeles, CA	2.0	2.0	1676	$7,550	$4.50	1d	1	0.52mi
8706 Sunset Plaza Pl Los Angeles, CA	3.0	3.0	2359	$18,000	$7.63	22d	1	0.53mi
1541 Rising Glen Rd Los Angeles, CA	3.0	4.0	2698	$20,000	$7.41	6d	1	0.54mi
8998 Lloyd Pl West Hollywood, CA	3.0	3.0	1800	$8,500	$4.72	20d	1	0.57mi
8810 Hollywood Blvd Los Angeles, CA	3.0	3.0	1852	$13,000	$7.02	5d	1	0.58mi
1210 N Kings Rd #203 West Hollywood, CA	2.0	3.0	2500	$5,495	$2.20	21d	1	0.60mi
1210 N Kings Rd #203 West Hollywood, CA	2.0	3.0	2500	$5,495	$2.20	26d	1	0.60mi
652 Huntley Dr Unit 103 West Hollywood, CA	2.0	2.5	1719	$11,750	$6.84	45d	1	0.60mi
755 N Alfred St Los Angeles, CA	3.0	4.0	2335	$12,500	$5.35	5d	1	0.63mi
755 N Alfred St Unit B Los Angeles, CA	3.0	3.5	2335	$12,500	$5.35	7d	1	0.63mi
850 N Croft Ave Los Angeles, CA	2.0	2.0	1573	$6,098	$3.88	45d	2	0.64mi
850 N Croft Ave #203 Los Angeles, CA	2.0	2.0	1606	$6,200	$3.86	17d	1	0.64mi
9001 Santa Monica Blvd West Hollywood, CA	3.0	2.5–3.5	2121	$15,649	$7.38	0d	2	0.66mi
1472 N Kings Rd West Hollywood, CA	3.0	2.5	3360	$20,000	$5.95	13d	1	0.67mi

HOA detail condo

• Monthly dues: $1,075 · $12,900/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 48 events

1. 2026-06-21
   days on market $999,000 Active 5 DOM
2. 2026-06-18
   days on market $999,000 Active 2 DOM
3. 2026-06-17
   pricedays on marketlisting id $999,000 Active 1 DOM
4. 2026-06-16
   days on market $1,349,000 Active 111 DOM
5. 2026-06-15
   days on market $1,349,000 Active 110 DOM
6. 2026-06-13
   days on market $1,349,000 Active 108 DOM
7. 2026-06-09
   days on market $1,349,000 Active 104 DOM
8. 2026-06-08
   days on market $1,349,000 Active 103 DOM
9. 2026-06-07
   days on market $1,349,000 Active 102 DOM
10. 2026-06-04
    days on market $1,349,000 Active 99 DOM
11. 2026-06-03
    days on market $1,349,000 Active 98 DOM
12. 2026-06-02
    days on market $1,349,000 Active 97 DOM
13. 2026-06-01
    days on market $1,349,000 Active 96 DOM
14. 2026-05-31
    days on market $1,349,000 Active 95 DOM
15. 2026-02-25
    listed $1,349,000 Active 1311-char remark
16. 2026-01-13
    listed Active
17. 2025-10-20
    listed Active
18. 2025-08-06
    listed Active
19. 2025-06-23
    listed Active
20. 2025-06-16
    listed Active
21. 2025-05-27
    listed Active
22. 2023-12-04
    listed Active
23. 2022-06-06
    soldstatus $1,732,500 Sold
24. 2022-06-06
    soldstatus $1,732,500
25. 2022-05-09
    status Pending
26. 2022-04-11
    historical Backup Offers Accepted
27. 2022-03-25
    listed $1,750,000
28. 2022-03-25
    listed $1,750,000 Active
29. 2020-03-02
    soldstatus $1,560,000 Sold
30. 2020-03-02
    soldstatus $1,560,000
31. 2020-02-27
    status Pending
32. 2020-02-03
    listed $1,595,000 Active
33. 2019-08-14
    historical Withdrawn
34. 2019-08-14
    historical
35. 2019-07-19
    listed Active
36. 2019-07-19
    historical Canceled
37. 2019-07-19
    listed $1,649,000
38. 2019-07-09
    price
39. 2019-07-08
    status Active
40. 2019-07-03
    historical Backup Offers Accepted
41. 2019-04-25
    listed Active
42. 2018-12-03
    historical Withdrawn
43. 2018-08-16
    listed Active
44. 2015-06-23
    soldstatus $1,395,000 Closed
45. 2015-06-23
    soldstatus $1,395,000
46. 2015-06-20
    status Pending
47. 2015-05-18
    status Backup Offers Accepted
48. 2015-04-09
    listed $1,395,000 Active

ⓘ 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: $22,226 · $1,852/mo
• Projected year-2 tax: $22,226 · $1,852/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 8 d/yr ≥88°F today · 23 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: $96,803
• − Mortgage interest: −$55,960
• − Property taxes: −$22,226
• − Insurance: −$4,995
• − Repairs & maintenance: −$7,744
• − Management: −$7,744
• − HOA: −$12,900
• − Depreciation: −$29,062
• Taxable loss: −$43,827
• Est. tax savings @ 24.0%: +$10,519
• After-tax cash flow: $-15,994/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 — West Hollywood

• Score: 70/100
• State rank: #239
• US rank: #7852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Hollywood, CA
• County: Los Angeles County · 9,444,647 people
• City population: 20,961
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 20,961
• Household income: $107,987
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2412.0

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 White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 8% Two or more races 8% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Scotch-Irish 6% Lithuanian 4% Italian 4%
• Foreign-born: 21% · Canada, China, Jamaica
• Languages at home: 77% English-only · Spanish 7% Other Indo-European 4% Russian/Polish/Slavic 3%

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: ▲ 0.76%
• Current HPI: 323.1842
• Rent YoY: ▼ -0.54%
• 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

-28.4% since first listed

35 events — show timeline

• 2026-06-16 Listed $999,000 TheMLS
• 2026-02-25 Listed — TheMLS
• 2026-01-13 Listed — TheMLS
• 2025-10-20 Listed — TheMLS
• 2025-08-06 Listed — TheMLS
• 2025-06-23 Listed — TheMLS
• 2025-06-16 Listed — TheMLS
• 2025-05-27 Listed — TheMLS
• 2023-12-04 Listed — TheMLS
• 2022-06-06 Sold (Public Records) $1,732,500 Public Records
• 2022-06-06 Sold (MLS) $1,732,500 TheMLS
• 2022-05-09 Pending — TheMLS
• 2022-04-11 Contingent — TheMLS
• 2022-03-25 Listed $1,750,000 TheMLS
• 2022-03-25 Listed $1,750,000 SDMLS
• 2020-03-02 Sold (Public Records) $1,560,000 Public Records
• 2020-03-02 Sold (MLS) $1,560,000 TheMLS
• 2020-02-27 Pending — TheMLS
• 2020-02-03 Listed $1,595,000 TheMLS
• 2019-08-14 Listing Removed — SDMLS
• 2019-08-14 Delisted — TheMLS
• 2019-07-19 Listed $1,649,000 SDMLS
• 2019-07-19 Delisted — TheMLS
• 2019-07-19 Listed — TheMLS
• 2019-07-09 Price Changed — TheMLS
• 2019-07-08 Relisted — TheMLS
• 2019-07-03 Contingent — TheMLS
• 2019-04-25 Listed — TheMLS
• 2018-12-03 Delisted — TheMLS
• 2018-08-16 Listed — TheMLS
• 2015-06-23 Sold (Public Records) $1,395,000 Public Records
• 2015-06-23 Sold (MLS) $1,395,000 TheMLS
• 2015-06-20 Pending — TheMLS
• 2015-05-18 Pending — TheMLS
• 2015-04-09 Listed $1,395,000 TheMLS

Property tax history

+7.5%/yr

Latest (2025): $22,226 · +1.7% YoY. Source: county tax records.