811 W 97th St · Los Angeles, CA 90044

$2,250,000

14 bd · 10.0 ba · 6,670 sqft · MultiFamily public records · 152 Days on market

Built 1958 10,000 sqft lot $337/sqft · 46% above area Est $1544k · 46% over

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Why this score? — see what drove the F 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 +13.2/30.0
• DSCR +4.0/10.0
• 1% rule +3.7/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 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

8.35% CAP & 8.52 GRM! We are pleased to offer this ten unit investment opportunity, located in the City of Los Angeles. This 10-unit multi-family property features a well-balanced unit mix of six 1-bedroom/1-bath units and four 2-bedroom/1-bath units, all of which have been recently renovated. The property benefits from strong in-place fundamentals supported by consistent rental demand in one of Los Angeles' most established rental markets. Recent capital improvements include newer exterior paint, upgraded exterior lighting, and new building and unit numbering, enhancing curb appeal and tenant experience. Each unit is separately metered for gas and electricity, providing operational efficiency and long-term expense control. The property also offers a large on-site parking area with 10 spaces, a valuable amenity in a dense urban environment.

Key facts

• Newer exterior paint
• Recently renovated
• 0.23 acre lot

Tags

• INVESTMENT OPPORTUNITY
• MULTI-FAMILY PROPERTY
• RECENTLY RENOVATED
• NEWER EXTERIOR PAINT
• UPGRADED EXTERIOR LIGHTING
• LARGE ON-SITE PARKING AREA

What this means for you Summary

Snapshot

• This is a 6×1bd/1ba + 4×2bd/1ba units multifamily listed at $2.25M.

Deal economics

• At list price, monthly cash flow is $-49 ($-583/yr) — negative. Per door: $-5/mo.
• To cash-flow at today's rent, offer at most $2.24M (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.95M (13.2% below list).
• Recommended offer: $1.95M (13.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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 soft (-2.5%/yr); 168 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $19,536/mo this rent would consume 440% of the median local household income ($53k/yr) (locally 7490% 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 $16k of loan paydown is wiped out by about $68k 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 152 days — a 12% lower offer ($1.98M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y 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.
• Current owner paid $1.50M; list at $2.25M implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — 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 $1,953,600 (13.2% 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. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.87% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• GRM: 9.6

CMA / ARV

• ARV (median comp): $1,543,870
• List price: $2,250,000
• Delta: 45.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.9%
• Equity multiple: 0.33×
• Total profit: $-424,688
• Equity at exit: $335,482

10-year hold

• IRR: -20.9%
• Equity multiple: 0.06×
• Total profit: $-594,021
• Equity at exit: $194,539

Cash invested: $630,000 (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 90044

• Rents YoY: -2.5%
• Active inventory: 168
• Price-to-rent: 98.2×

Monthly cashflow live

• Estimated rent: $19,536 high
• Mortgage (P&I): −$11,799
• Tax from tax record: −$2,745 /mo · $32,943/yr
• Insurance: −$938
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,103
• Net cashflow: $-49

Break-even live

Break-even rent $19,597

Max offer price $2,241,423

Occupancy floor 95%

Sensitivity live

Price	-10% $1,225	-5% $588	+0% $-49	+5% $-685	+10% $-1,322
Rent	-10% $-1,592	-5% $-820	+0% $-49	+5% $723	+10% $1,495
Rate	-1.0pp $1,085	-0.5pp $524	base $-49	+0.5pp $-632	+1.0pp $-1,225

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$11,460
▸ 4× units	2	1	$8,076
Total (10 units)			$19,536

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: $562,500
• Closing costs: $67,500
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-21
   days on market $2,250,000 Active 152 DOM
2. 2026-06-18
   days on market $2,250,000 Active 149 DOM
3. 2026-06-17
   days on market $2,250,000 Active 148 DOM
4. 2026-06-16
   days on market $2,250,000 Active 147 DOM
5. 2026-06-15
   days on market $2,250,000 Active 146 DOM
6. 2026-06-13
   days on market $2,250,000 Active 144 DOM
7. 2026-06-09
   days on market $2,250,000 Active 140 DOM
8. 2026-06-08
   days on market $2,250,000 Active 139 DOM
9. 2026-06-07
   days on market $2,250,000 Active 138 DOM
10. 2026-06-04
    days on market $2,250,000 Active 135 DOM
11. 2026-06-03
    days on market $2,250,000 Active 134 DOM
12. 2026-06-02
    days on market $2,250,000 Active 133 DOM
13. 2026-06-01
    days on market $2,250,000 Active 132 DOM
14. 2026-05-31
    days on market $2,250,000 Active 131 DOM
15. 2026-04-14
    price $2,250,000 858-char remark

    Show marketing remark (858 chars)

    8.35% CAP & 8.52 GRM! We are pleased to offer this ten unit investment opportunity, located in the City of Los Angeles. This 10-unit multi-family property features a well-balanced unit mix of six 1-bedroom/1-bath units and four 2-bedroom/1-bath units, all of which have been recently renovated. The property benefits from strong in-place fundamentals supported by consistent rental demand in one of Los Angeles' most established rental markets. Recent capital improvements include newer exterior paint, upgraded exterior lighting, and new building and unit numbering, enhancing curb appeal and tenant experience. Each unit is separately metered for gas and electricity, providing operational efficiency and long-term expense control. The property also offers a large on-site parking area with 10 spaces, a valuable amenity in a dense urban environment.

16. 2026-02-11
    price $2,295,000 858-char remark

    Show marketing remark (858 chars)

    8.35% CAP & 8.52 GRM! We are pleased to offer this ten unit investment opportunity, located in the City of Los Angeles. This 10-unit multi-family property features a well-balanced unit mix of six 1-bedroom/1-bath units and four 2-bedroom/1-bath units, all of which have been recently renovated. The property benefits from strong in-place fundamentals supported by consistent rental demand in one of Los Angeles' most established rental markets. Recent capital improvements include newer exterior paint, upgraded exterior lighting, and new building and unit numbering, enhancing curb appeal and tenant experience. Each unit is separately metered for gas and electricity, providing operational efficiency and long-term expense control. The property also offers a large on-site parking area with 10 spaces, a valuable amenity in a dense urban environment.

17. 2026-01-20
    listed $2,325,000 Active 858-char remark

    Show marketing remark (858 chars)

    8.35% CAP & 8.52 GRM! We are pleased to offer this ten unit investment opportunity, located in the City of Los Angeles. This 10-unit multi-family property features a well-balanced unit mix of six 1-bedroom/1-bath units and four 2-bedroom/1-bath units, all of which have been recently renovated. The property benefits from strong in-place fundamentals supported by consistent rental demand in one of Los Angeles' most established rental markets. Recent capital improvements include newer exterior paint, upgraded exterior lighting, and new building and unit numbering, enhancing curb appeal and tenant experience. Each unit is separately metered for gas and electricity, providing operational efficiency and long-term expense control. The property also offers a large on-site parking area with 10 spaces, a valuable amenity in a dense urban environment.

18. 2025-07-21
    price
19. 2025-01-29
    listed Active
20. 2024-06-06
    historical $2,450
21. 2024-04-12
    listed $2,450
22. 2024-04-08
    historical $2,450
23. 2024-03-13
    listed $2,450
24. 2024-02-28
    listed Active
25. 2023-06-11
    historical
26. 2021-11-18
    historical
27. 2021-09-07
    listed $2,700,000 Active
28. 2021-09-04
    historical
29. 2018-12-03
    soldstatus $1,500,000 Closed Sale
30. 2018-12-03
    soldstatus $1,500,000
31. 2018-12-03
    soldstatus $1,500,000
32. 2018-09-11
    status Pending Sale
33. 2018-08-20
    historical Active Under Contract
34. 2018-08-08
    listed $1,500,000 Active
35. 2018-08-08
    listed $1,500,000
36. 1977-12-28
    soldstatus $70,000

ⓘ 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: $32,943 · $2,745/mo
• Projected year-2 tax: $32,943 · $2,745/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 5/10 Major 7 d/yr ≥88°F today · 22 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: $234,432
• − Mortgage interest: −$126,035
• − Property taxes: −$32,943
• − Insurance: −$11,250
• − Repairs & maintenance: −$18,755
• − Management: −$18,755
• − Depreciation: −$65,455
• Taxable loss: −$38,760
• Est. tax savings @ 24.0%: +$9,302
• After-tax cash flow: $8,720/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): 94,830
• Household income: $53,302
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 7490.0

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 (67%)
• Race & ethnicity: Hispanic / Latino 67% Black 29% Two or more races 23% White 1% Native American 1%
• Hispanic origin (detail): Mexican 39%
• Foreign-born: 34% · Canada
• Languages at home: 37% English-only · Spanish 62%

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: ▼ -691.99%
• Current HPI: 467.9845
• Rent YoY: ▼ -2.50%
• 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

+3114.3% since first listed

22 events — show timeline

• 2026-04-14 Price Changed $2,250,000 TheMLS
• 2026-02-11 Price Changed $2,295,000 TheMLS
• 2026-01-20 Listed $2,325,000 TheMLS
• 2025-07-21 Price Changed — TheMLS
• 2025-01-29 Listed — TheMLS
• 2024-06-06 Rental Removed $2,450 APPFOLIO
• 2024-04-12 Listed for Rent $2,450 APPFOLIO
• 2024-04-08 Rental Removed $2,450 APPFOLIO
• 2024-03-13 Listed for Rent $2,450 APPFOLIO
• 2024-02-28 Listed — TheMLS
• 2023-06-11 Rental Removed — RENT.
• 2021-11-18 Listing Removed — CRMLS
• 2021-09-07 Listed $2,700,000 CRMLS
• 2021-09-04 Coming Soon — CRMLS
• 2018-12-03 Sold (Public Records) $1,500,000 Public Records
• 2018-12-03 Sold (MLS) $1,500,000 SDMLS
• 2018-12-03 Sold (MLS) $1,500,000 CRMLS
• 2018-09-11 Pending — CRMLS
• 2018-08-20 Contingent — CRMLS
• 2018-08-08 Listed $1,500,000 SDMLS
• 2018-08-08 Listed $1,500,000 CRMLS
• 1977-12-28 Sold (Public Records) $70,000 Public Records

Property tax history

+16.7%/yr

Latest (2025): $32,943 · +1.2% YoY. Source: county tax records.