11946 Dorothy St · Los Angeles, CA 90049

$4,250,000

14 bd · 14.0 ba · 9,244 sqft · MultiFamily public records · 14 Days on market

Built 1970 7,875 sqft lot Est $4215k · at est.

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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 +9.9/30.0
• Appreciation +8.2/10.0
• ARV discount +7.1/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Rent growth +1.7/5.0

Multi-family units

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

We are pleased to offer for sale a rare multifamily investment opportunity at 11946 Dorothy Street in the heart of LA's famed community of Brentwood. Consisting of 10 large units encompassing a beautifully landscaped setting, the building boasts an ideal unit mix of large 1-bedroom, 2-bedroom, and 3-bedroom units. Each of these units is spacious, has a terrific floor plan, and offers an abundance of natural light. The unit mix includes (1) 3-bed, 2-bath unit, (2) 2-bed, 1-bath units, and (7)1-bed, 1-bath units. This is a trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. Additional property features include ample on-site parking,

Key facts

• 7,875 sq ft lot
• 13 parking spots
• Built 1970

Property features AI

Finance

• Other: One building on the parcel; Lot size about 0.1808 acres
• Financial info: Gross income reported at 332,580; Gross operating income reported at $334,380; Net operating income reported at $214,242; Total annual expenses reported at $110,160; Cap rate: 5.04; Gross rent multiplier: 12.71; Vacancy rate reported as 0; Rents by unit examples: Unit (3-bed) actual $5,445; Unit (2-bed) actual $5,350 (for two like units); Unit (1-bed) actual $16,920 (across seven like units)
• HOA & community: 10 units in the complex

Exterior

• Parking: Assigned parking and attached carport; Total of 13 parking spaces
• Utilities: No specific utility providers listed
• Home design: Residential income property; Multi-level building with 2 total floors; Zoning: LAR3
• Construction: No construction details provided
• Exterior features: No additional exterior structures

Interior

• Kitchen: Microwave; Dishwasher; Range/oven; Refrigerator
• Bedrooms: One 3-bedroom unit; Two 2-bedroom units; Seven 1-bedroom units
• Bathrooms: Unit bathrooms vary (examples: 2.5, 1.5, 1.0)
• Heating & cooling: Wall heat; Wall/window cooling units
• Interior features: Built-ins; Garbage disposal; As-is disclosures
• Laundry & utility: No specific laundry equipment listed

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/?-bath units multifamily listed at $4.25M.

Deal economics

• At list price, monthly cash flow is $-3k ($-32k/yr) — negative. Per door: $-530/mo.
• To cash-flow at today's rent, offer at most $3.78M (11.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $3.01M (29.2% below list).
• Recommended offer: $3.01M (29.2% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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 falling (-3.0%/yr); 283 active listings in the ZIP; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $30,070/mo this rent would consume 212% of the median local household income ($171k/yr) (locally 1633% 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 $298k of equity ($29k loan paydown + $269k appreciation (6.3% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$477k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $1.60M; list at $4.25M implies a 166% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,007,000 (29.2% 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. 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 1970 — 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: 0.71% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.67%
• DSCR: 0.88
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $4,215,264
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11946 Dorothy St	0.00mi	14/14.0	9,244 (0%)	0mo	$4,175,000	$452	100
12039 Goshen Ave	0.26mi	13/13.0 (-1)	8,829 (-4%)	13mo	$4,025,000	$456	61
12033 Goshen Ave	0.26mi	13/13.0 (-1)	8,829 (-4%)	13mo	$4,025,000	$456	61
11933 Darlington Ave	0.05mi	14/16.0	7,980 (-14%)	13mo	$3,750,000	$470	56
11948 Darlington Ave	0.07mi	14/12.0	7,979 (-14%)	14mo	$3,192,750	$400	54
1253 Brockton Ave	0.45mi	14/14.0	8,580 (-7%)	21mo	$4,175,000	$487	50
11707 Kiowa Ave	0.37mi	13/13.0 (-1)	7,934 (-14%)	22mo	$3,700,000	$466	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.33% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.88×
• Total profit: $1,051,902
• Equity at exit: $2,760,286

10-year hold

• IRR: 12.7%
• Equity multiple: 3.56×
• Total profit: $3,045,119
• Equity at exit: $5,083,923

Cash invested: $1,190,000 (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 90049

• Home prices YoY: 1.4%
• Rents YoY: -3.0%
• Active inventory: 283
• Price-to-rent: 58.9×

Monthly cashflow live

• Estimated rent: $30,070 high
• Mortgage (P&I): −$22,287
• Tax from tax record: −$2,349 /mo · $28,192/yr
• Insurance: −$1,771
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,315
• Net cashflow: $-2,652

Break-even live

Break-even rent $33,427

Max offer price $3,781,460

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 5× units	3	—	$30,070
Total (5 units)			$30,070

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: $1,062,500
• Closing costs: $127,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-28
   status Pending
2. 2026-04-14
   listed $4,250,000 Active
3. 2004-07-21
   soldstatus $1,600,000
4. 1971-12-23
   soldstatus $72,000

ⓘ 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: $28,192 · $2,349/mo
• Projected year-2 tax: $32,300 · $2,692/mo
• Expected delta: +$4,108/yr (+$342/mo · 14.6%)

ⓘ 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 ≥85°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $360,840
• − Mortgage interest: −$238,066
• − Property taxes: −$28,192
• − Insurance: −$21,250
• − Repairs & maintenance: −$28,867
• − Management: −$28,867
• − Depreciation: −$123,636
• Taxable loss: −$108,039
• Est. tax savings @ 24.0%: +$25,929
• After-tax cash flow: $-5,898/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): 37,122
• Household income: $170,607
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 1633.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 10% Asian 9% Hispanic / Latino 8% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 7% Scotch-Irish 6% Romanian 5%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 78% English-only · Other Indo-European 8% Spanish 4% Russian/Polish/Slavic 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: ▲ 6.33%
• Current HPI: 471.6282
• Rent YoY: ▼ -3.04%
• 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

+5802.8% since first listed

4 events — show timeline

• 2026-04-28 Pending — TheMLS
• 2026-04-14 Listed $4,250,000 TheMLS
• 2004-07-21 Sold (Public Records) $1,600,000 Public Records
• 1971-12-23 Sold (Public Records) $72,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $28,192 · +1.3% YoY. Source: county tax records.