9014 S Fir Ave · Florence-Graham, CA 90002

$1,250,000

3 bd · 2.0 ba · 1,469 sqft · MultiFamily public records · 8 Days on market

Built 1907 0.44 ac lot

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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 +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.1/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

"Price Improvement". .. Don't miss this Great opportunity on a 4-unit property!! Just over 19,000 square foot lot, 3 buildings each with their own yard, utilities metered, lots of driveway parking 2 spaces for each unit, and potential to expand more units! All 4 units have laundry hookups. 2 units have patios on the rear of the property, and 3 units have fenced front and back yards. Good investment or occupy 1 unit and rent the remaining. This property is in a great location just minutes away from restaurants, shopping, entertainment, and so many more amenities. "So much potential within this property".

Key facts

• Expansive lot
• Rear patios
• Private yard

Tags

• EXPANSIVE LOT
• PRIVATE YARD
• INDIVIDUALLY METERED UTILITIES
• AMPLE DRIVEWAY PARKING
• LAUNDRY HOOKUPS
• REAR PATIOS

Property features AI

Finance

• Other: Property is fee land lease type; Affordable housing qualified; sold as-is; located in an unincorporated community; Tenant rights possession; All tenant-owned appliances and personal items are excluded
• Financial info: Gross monthly income listed as $4,650; Gross operating income reported as $55,800 annually; Net operating income reported as $49,950 annually; Total annual expenses reported as $5,856; Cap rate listed at 4%; Gross rent multiplier listed as 4; Owner is responsible for gardener; tenants pay gas, electric, cable TV, trash, and water; Units are residential; unit mix includes 1-, 2-, 3-, and 4-bedroom unit types (counts shown per unit entry); Listing terms include conventional, cash to existing loan, or cash
• HOA & community: Four units in the complex

Exterior

• Parking: Driveway; Approximately 10 parking spaces
• Security: Gated
• Utilities: Public water; Sewer connected and paid
• Home design: Residential income property; Detached building with no common walls; One level / single-story; Faces west; No additions or alterations reported
• Construction: Frame construction with hard coat stucco; Combination and raised foundation
• Exterior features: Front and rear porches; Fenced yard; Front yard and back yard

Interior

• Kitchen: Hood fan
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom; Unit 3: 3 bedrooms; Unit 4: 1 bedroom
• Flooring: Mixed flooring
• Bathrooms: Unit 1: 1 bath; Unit 2: 1 bath; Unit 3: 1 bath; Unit 4: 1 bath
• Heating & cooling: Wall heating; Wall or window cooling units
• Interior features: Ground-level entry with steps; Smoke detector; Hood fan
• Laundry & utility: Laundry in unit; Gas dryer hookup; Water heaters present (multi-tank, individual units)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $1.25M.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $394/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 $1.14M (9.1% below list).
• Recommended offer: $1.14M (9.1% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.4% in Florence-Graham — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: 73 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 74% of comp listings sitting > 30 days — soft ceiling on asking rent; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $11,359/mo this rent would consume 231% of the median local household income ($59k/yr) (locally 2997% 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 $9k of loan paydown is wiped out by about $38k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $880k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1907 — 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 $1,135,900 (9.1% 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 1907 — 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. 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?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.40%
• DSCR: 1.24
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $763,880
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9413 Croesus Ave	0.28mi	3/2.0	1,333 (-9%)	17mo	$500,000	$375	57
8738 Graham Ave	0.38mi	4/4.0 (+1)	1,440 (-2%)	13mo	$660,000	$458	55
9526-28 BANDERA St	0.38mi	4/2.0 (+1)	1,586 (+8%)	14mo	$580,000	$366	53
8401 S Fir Ave	0.49mi	3/2.0	1,331 (-9%)	13mo	$692,000	$520	51
8034 Crockett Blvd	0.74mi	4/— (+1)	1,477 (+0%)	17mo	$860,000	$582	46
8219-8221 Morton Ave	0.63mi	4/2.0 (+1)	1,506 (+2%)	23mo	$800,000	$531	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.71×
• Total profit: $-102,751
• Equity at exit: $186,379

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $37,397
• Equity at exit: $108,077

Cash invested: $350,000 (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 90002

• Active inventory: 73
• Price-to-rent: 36.7×

Monthly cashflow live

• Estimated rent: $11,359 medium
• Mortgage (P&I): −$6,555
• Tax from tax record: −$321 /mo · $3,856/yr
• Insurance: −$521
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,385
• Net cashflow: $1,576

Break-even live

Break-even rent $9,364

Max offer price $1,250,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$11,360
Total (4 units)			$11,359

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: $312,500
• Closing costs: $37,500
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2118 E 92nd St Unit 2120 Watts, CA	4.0	2.0	1303	$3,668	$2.82	19d	1	0.20mi
2118 E 92nd St Unit 2120 Watts, CA	4.0	2.0	1303	$3,150	$2.42	5d	1	0.20mi
9412 Wilmington Ave Unit 1-2 Los Angeles, CA	2.0	1.0	900	$2,395	$2.66	24d	1	0.26mi
9526 Croesus Ave Unit 9526 Los Angeles, CA	3.0	1.0	1000	$2,800	$2.80	43d	1	0.42mi
9525 Juniper St Unit 9525 1/2 Los Angeles, CA	2.0	1.0	1001	$2,450	$2.45	16d	1	0.43mi
7923 Morton Ave Los Angeles, CA	2.0	1.0	1320	$2,950	$2.23	19d	1	0.82mi
8462 Zamora Ave Los Angeles, CA	3.0	1.0	952	$2,895	$3.04	24d	1	0.88mi
9310 Pace Ave Los Angeles, CA	3.0	1.0	1254	$3,200	$2.55	43d	1	0.93mi
9312 Pace Ave Los Angeles, CA	4.0	2.0	1798	$4,000	$2.22	43d	1	0.93mi
10376 Wilmington Ave Los Angeles, CA	3.0	2.0	1230	$2,990	$2.43	43d	1	0.94mi
8715 Hooper Ave Unit 87195 Los Angeles, CA	3.0	2.0	1050	$3,490	$3.32	43d	1	1.02mi
10422 1/2 Graham Ave Unit Graham(10422 1/2) Watts, CA	3.0	3.0	1250	$3,100	$2.48	43d	1	1.03mi
2023 E 77th St Los Angeles, CA	3.0	2.0	1400	$3,498	$2.50	43d	1	1.05mi
7674 Whitsett Ave Los Angeles, CA	4.0	2.0	1500	$4,500	$3.00	43d	1	1.07mi
7674 Whitsett Ave Unit NA Los Angeles, CA	4.0	2.0	1500	$3,585	$2.39	43d	1	1.07mi
8416 Hooper Ave Los Angeles, CA	4.0	3.0	1600	$3,350	$2.09	43d	1	1.09mi
7914 Seville Ave Unit B Huntington Park, CA	2.0	2.0	900	$2,200	$2.44	43d	1	1.15mi
915 E 91st St Unit 915 Los Angeles, CA	3.0	1.0	1800	$3,200	$1.78	43d	1	1.21mi
10913 Wilmington Ave Los Angeles, CA	4.0	2.0	1450	$3,050	$2.10	43d	1	1.27mi
10952 Wilmington Ave Unit 10952 Los Angeles, CA	3.0	2.0	1164	$2,990	$2.57	43d	1	1.31mi
10952 1/2 Wilmington Ave Los Angeles, CA	3.0	2.0	1164	$2,950	$2.53	43d	1	1.31mi
1159 E 78th St Los Angeles, CA	4.0	2.0	1300	$3,950	$3.04	43d	1	1.36mi
1124 Nadeau St Los Angeles, CA	3.0	1.5	1000	$3,995	$4.00	5d	1	1.36mi
909 E 83rd St Los Angeles, CA	4.0	2.0	1400	$3,888	$2.78	43d	1	1.36mi
10527 Pace Ave Los Angeles, CA	3.0	1.0	992	$3,400	$3.43	43d	1	1.39mi
1667 E 111th St Los Angeles, CA	2.0	2.0	1225	$2,600	$2.12	43d	1	1.43mi
7024 Middleton St Unit B Huntington Park, CA	2.0	1.0	1000	$2,300	$2.30	43d	1	1.49mi

Listing history 6 events

1. 2026-06-18
   days on market $1,250,000 Active 8 DOM
2. 2026-06-17
   days on market $1,250,000 Active 7 DOM
3. 2026-06-16
   days on market $1,250,000 Active 6 DOM
4. 2026-06-15
   days on market $1,250,000 Active 5 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $1,250,000 Active 3 DOM

ⓘ 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: $3,856 · $321/mo
• Projected year-2 tax: $9,500 · $792/mo
• Expected delta: +$5,644/yr (+$470/mo · 146.3%)

ⓘ 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 5/10 Major 7 d/yr ≥90°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $136,308
• − Mortgage interest: −$70,019
• − Property taxes: −$3,856
• − Insurance: −$6,250
• − Repairs & maintenance: −$10,905
• − Management: −$10,905
• − Depreciation: −$36,364
• Taxable loss: −$1,991
• Est. tax savings @ 24.0%: +$478
• After-tax cash flow: $19,393/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 — Florence-Graham

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Florence-Graham, CA
• County: Los Angeles County · 9,444,647 people
• City population: 56,189
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 52,122
• Household income: $59,021
• Rent vs Own: 60.8% rent · 39.2% own
• Severe rent burden: 2997.0

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 Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 23% Black 15% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 61%
• Foreign-born: 36% · Canada
• Languages at home: 25% English-only · Spanish 74%

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: ▼ -698.86%
• Current HPI: 478.4773
• Rent YoY: —
• 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

+3372.2% since first listed

8 events — show timeline

• 2026-06-10 Listed $1,250,000 TheMLS
• 2025-10-01 Sold (MLS) $880,000 CRMLS
• 2025-09-30 Sold (Public Records) $880,000 Public Records
• 2025-09-26 Pending — CRMLS
• 2025-07-14 Price Changed $895,000 CRMLS
• 2025-07-10 Relisted — CRMLS
• 2025-04-29 Listed $930,000 CRMLS
• 1978-08-30 Sold (Public Records) $36,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $3,856 · +10.7% YoY. Source: county tax records.