4089 Leimert Blvd · Los Angeles, CA 90008

$1,895,000

8 bd · 8.0 ba · 5,134 sqft · MultiFamily public records · 59 Days on market

Built 1940 6,188 sqft lot $369/sqft · 53% above area

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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 +29.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• 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: 8 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

Well-maintained 8-unit multifamily property in the heart of Leimert Park, one of LA's most vibrant and evolving neighborhoods. The property offers a strong 6.2% cap rate with solid in-place income and clear upside potential. The property features five renovated units with updated interiors, providing immediate rental premiums, while three units remain in classic condition, presenting a clear value-add opportunity for increased rents and long-term growth. Located just moments from Leimert Park Village, the Metro K Line, and major employment hubs including Downtown LA, Culver City, and USC. The area continues to see strong rental demand and ongoing neighborhood investment. The property also includes four garages (two 2-car and two 1-car), which can be delivered vacant. These offer flexibility for additional income or excellent ADU potential. Ideal for investors looking for a balance of current cash flow and long-term growth in a central Los Angeles location.

Key facts

• Renovated units
• Updated interiors
• Classic condition

Tags

• 8 UNIT MULTIFAMILY PROPERTY
• RENOVATED UNITS
• UPDATED INTERIORS
• CLASSIC CONDITION
• VALUE ADD OPPORTUNITY
• FOUR GARAGES

What this means for you Summary

Snapshot

• This is a 8 × 8-bed/8.0-bath units multifamily listed at $1.90M.

Deal economics

• At list price, monthly cash flow is $6k ($78k/yr) — positive. Per door: $810/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($23k rent vs $1.90M).
• Recommended offer: $1.84M (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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 flat; 102 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $23,397/mo this rent would consume 454% of the median local household income ($62k/yr) (locally 4196% 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 $13k of loan paydown is wiped out by about $57k 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 59 days — a 3% lower offer ($1.84M) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 19y ago; this cycle's ask has dropped $180k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.07M; list at $1.90M implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $1,838,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% 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 1940 — 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. 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: 1.23% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.66%
• DSCR: 1.65
• GRM: 6.7

CMA / ARV

• ARV (median comp): $1,235,004
• List price: $1,895,000
• Delta: 53.44%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4264 Leimert Blvd	0.31mi	8/6.0	5,284 (+3%)	8mo	$1,440,000	$273	66
4318 Leimert Blvd	0.40mi	8/6.0	5,376 (+5%)	21mo	$1,325,000	$246	48
4265 Garthwaite Ave	0.32mi	8/4.0	5,628 (+10%)	16mo	$1,395,000	$248	39
4145 S Degnan Blvd	0.45mi	8/4.0	4,806 (-6%)	20mo	$1,750,000	$364	36
1901 W Martin Luther King Jr Blvd	0.62mi	9/9.0 (+1)	5,602 (+9%)	17mo	$1,200,000	$214	33

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 · 0.24% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $42,228
• Equity at exit: $282,551

10-year hold

• IRR: 9.0%
• Equity multiple: 1.61×
• Total profit: $321,560
• Equity at exit: $163,845

Cash invested: $530,600 (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 90008

• Rents YoY: 0.2%
• Active inventory: 102
• Price-to-rent: 54.0×

Monthly cashflow live

• Estimated rent: $23,397 medium
• Mortgage (P&I): −$9,938
• Tax from tax record: −$1,274 /mo · $15,292/yr
• Insurance: −$790
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,913
• Net cashflow: $6,482

Break-even live

Break-even rent $15,192

Max offer price $1,895,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 8× units	8	8	$23,400
Total (8 units)			$23,397

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: $473,750
• Closing costs: $56,850
• Reserves months: —
• Total cash needed: —

Listing history 46 events

1. 2026-06-18
   days on market $1,895,000 Active 59 DOM
2. 2026-06-17
   days on market $1,895,000 Active 58 DOM
3. 2026-06-16
   days on market $1,895,000 Active 57 DOM
4. 2026-06-15
   days on market $1,895,000 Active 56 DOM
5. 2026-06-13
   pricedays on market $1,895,000 Active 54 DOM
6. 2026-06-09
   days on market $1,995,000 Active 50 DOM
7. 2026-06-08
   days on market $1,995,000 Active 49 DOM
8. 2026-06-07
   days on market $1,995,000 Active 48 DOM
9. 2026-06-04
   days on market $1,995,000 Active 45 DOM
10. 2026-06-03
    days on market $1,995,000 Active 44 DOM
11. 2026-06-02
    days on market $1,995,000 Active 43 DOM
12. 2026-06-01
    days on market $1,995,000 Active 42 DOM
13. 2026-05-31
    days on market $1,995,000 Active 41 DOM
14. 2026-05-04
    price $1,995,000 970-char remark

    Show marketing remark (970 chars)

    Well-maintained 8-unit multifamily property in the heart of Leimert Park, one of LA's most vibrant and evolving neighborhoods. The property offers a strong 6.2% cap rate with solid in-place income and clear upside potential. The property features five renovated units with updated interiors, providing immediate rental premiums, while three units remain in classic condition, presenting a clear value-add opportunity for increased rents and long-term growth. Located just moments from Leimert Park Village, the Metro K Line, and major employment hubs including Downtown LA, Culver City, and USC. The area continues to see strong rental demand and ongoing neighborhood investment. The property also includes four garages (two 2-car and two 1-car), which can be delivered vacant. These offer flexibility for additional income or excellent ADU potential. Ideal for investors looking for a balance of current cash flow and long-term growth in a central Los Angeles location.

15. 2026-04-20
    listed $2,075,000 Active 970-char remark

    Show marketing remark (970 chars)

    Well-maintained 8-unit multifamily property in the heart of Leimert Park, one of LA's most vibrant and evolving neighborhoods. The property offers a strong 6.2% cap rate with solid in-place income and clear upside potential. The property features five renovated units with updated interiors, providing immediate rental premiums, while three units remain in classic condition, presenting a clear value-add opportunity for increased rents and long-term growth. Located just moments from Leimert Park Village, the Metro K Line, and major employment hubs including Downtown LA, Culver City, and USC. The area continues to see strong rental demand and ongoing neighborhood investment. The property also includes four garages (two 2-car and two 1-car), which can be delivered vacant. These offer flexibility for additional income or excellent ADU potential. Ideal for investors looking for a balance of current cash flow and long-term growth in a central Los Angeles location.

16. 2023-04-29
    price
17. 2023-04-26
    listed Active
18. 2023-01-18
    listed Active
19. 2022-09-17
    price
20. 2022-08-11
    listed Active
21. 2022-06-29
    status Active
22. 2022-06-29
    price
23. 2022-05-23
    historical Backup Offers Accepted
24. 2022-02-28
    price
25. 2022-02-03
    listed Active
26. 2019-09-01
    historical Expired
27. 2019-09-01
    historical
28. 2019-08-14
    listed Active
29. 2019-08-14
    listed $1,765,000
30. 2019-07-08
    historical Canceled
31. 2019-07-08
    historical
32. 2019-05-09
    listed Active
33. 2019-05-09
    listed $1,849,000
34. 2016-10-21
    soldstatus $1,070,000 Closed
35. 2016-10-21
    soldstatus $1,070,000
36. 2016-10-21
    soldstatus $1,070,000
37. 2016-10-03
    status Pending
38. 2016-09-19
    status Active
39. 2016-09-02
    status Pending
40. 2016-09-02
    listed $1,212,000 Active
41. 2016-08-31
    listed $1,212,000
42. 2008-01-01
    historical
43. 2007-06-01
    historical
44. 2007-01-23
    listed
45. 2007-01-23
    listed $849,000
46. 1984-12-31
    soldstatus $162,500

ⓘ 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: $15,292 · $1,274/mo
• Projected year-2 tax: $15,292 · $1,274/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥87°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: $280,764
• − Mortgage interest: −$106,149
• − Property taxes: −$15,292
• − Insurance: −$9,475
• − Repairs & maintenance: −$22,461
• − Management: −$22,461
• − Depreciation: −$55,127
• Taxable income: $49,798
• Est. tax owed @ 24.0%: −$11,952
• After-tax cash flow: $65,834/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): 33,252
• Household income: $61,846
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 4196.0

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 0.56)
• Race & ethnicity: Black 61% Hispanic / Latino 27% Two or more races 10% White 6% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 1% British 1%
• Foreign-born: 21% · Canada, South Korea
• Languages at home: 67% English-only · Spanish 25% French/Haitian/Cajun 2% Korean 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: ▼ -944.46%
• Current HPI: 431.4967
• Rent YoY: ▲ 0.24%
• 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

+1127.7% since first listed

33 events — show timeline

• 2026-05-04 Price Changed $1,995,000 TheMLS
• 2026-04-20 Listed $2,075,000 TheMLS
• 2023-04-29 Price Changed — TheMLS
• 2023-04-26 Listed — TheMLS
• 2023-01-18 Listed — TheMLS
• 2022-09-17 Price Changed — TheMLS
• 2022-08-11 Listed — TheMLS
• 2022-06-29 Relisted — TheMLS
• 2022-06-29 Price Changed — TheMLS
• 2022-05-23 Contingent — TheMLS
• 2022-02-28 Price Changed — TheMLS
• 2022-02-03 Listed — TheMLS
• 2019-09-01 Listing Removed — SDMLS
• 2019-09-01 Delisted — TheMLS
• 2019-08-14 Listed $1,765,000 SDMLS
• 2019-08-14 Listed — TheMLS
• 2019-07-08 Listing Removed — SDMLS
• 2019-07-08 Delisted — TheMLS
• 2019-05-09 Listed $1,849,000 SDMLS
• 2019-05-09 Listed — TheMLS
• 2016-10-21 Sold (Public Records) $1,070,000 Public Records
• 2016-10-21 Sold (MLS) $1,070,000 SDMLS
• 2016-10-21 Sold (MLS) $1,070,000 TheMLS
• 2016-10-03 Pending — TheMLS
• 2016-09-19 Relisted — TheMLS
• 2016-09-02 Pending — TheMLS
• 2016-09-02 Listed $1,212,000 TheMLS
• 2016-08-31 Listed $1,212,000 SDMLS
• 2008-01-01 Listing Removed — CRMLS
• 2007-06-01 Delisted — TheMLS
• 2007-01-23 Listed $849,000 CRMLS
• 2007-01-23 Listed — TheMLS
• 1984-12-31 Sold (Public Records) $162,500 Public Records

Property tax history

+7.4%/yr

Latest (2025): $15,292 · +1.4% YoY. Source: county tax records.