281 S Avenue 52 · Los Angeles, CA 90042

$4,088,888

1032 bd · 576.0 ba · 19,828 sqft · MultiFamily · 105 Days on market

Built 1961 Fair condition 0.68 ac lot $206/sqft · 7% below area Est $4415k · 7% under

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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 +30.0/30.0
• ARV discount +10.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 24 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

This offering presents an excellent opportunity to acquire a 24-unit apartment community located in the highly desirable Highland Park neighborhood of Los Angeles. Built in 1961, the property consists of approximately 19,828 square feet of improvements situated on a 29,724 square foot lot. The unit mix includes 5 one-bedroom / one-bath units, 18 two-bedroom / one-bath units, and 1 two-bedroom / two-bath unit, offering a strong configuration that supports long-term tenant demand. Residents benefit from the property's proximity to Downtown Los Angeles via the 110 Freeway and convenient access to the Metro Gold Line, connecting Highland Park to South Pasadena, Pasadena, and DTLA. The property is also located near the vibrant Figueroa Street retail corridor, providing tenants with easy access to Highland Park's popular restaurants, cafes, shops, and neighborhood amenities. Opportunities to acquire assets of this scale in Highland Park remain limited, as the neighborhood is largely built-out and new multifamily development remains constrained.

Key facts

• 0.68 acre lot
• 26 parking spots
• Built 1961

Tags

• 24 UNIT APARTMENT COMMUNITY
• HIGHLAND PARK NEIGHBORHOOD
• ACCESS TO METRO GOLD LINE

What this means for you Summary

Snapshot

• This is a 5×1bd/1ba + 18×2bd/1ba + 1×2bd/2ba units multifamily listed at $4.09M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $25k ($296k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($67k rent vs $4.09M).
• Recommended offer: $3.72M (9.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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 rising (+1.3%/yr); 180 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $66,992/mo this rent would consume 844% of the median local household income ($95k/yr) (locally 2699% 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 $28k of loan paydown is wiped out by about $123k 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.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $1.14M cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($3.72M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,720,888 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1961 — 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. 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.
11. 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.
12. 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: 1.64% ✓
• Cap rate: 13.53%
• Cash-on-cash: 25.85%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

• ARV (median comp): $4,415,189
• List price: $4,088,888
• Delta: -7.39%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.34% rent growth · sell at horizon

5-year hold

• IRR: 17.6%
• Equity multiple: 1.70×
• Total profit: $799,367
• Equity at exit: $609,666

10-year hold

• IRR: 24.9%
• Equity multiple: 3.00×
• Total profit: $2,286,240
• Equity at exit: $353,532

Cash invested: $1,144,889 (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 90042

• Rents YoY: 1.3%
• Active inventory: 180
• Price-to-rent: 128.9×

Monthly cashflow live

• Estimated rent: $66,992 high
• Mortgage (P&I): −$21,443
• Tax est. 1.5%: −$5,111 /mo · $61,333/yr
• Insurance: −$1,704
• HOA: −$0
• Vacancy / Maint / Mgmt: −$14,068
• Net cashflow: $24,666

Break-even live

Break-even rent $35,769

Max offer price $4,088,888

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$13,220
▸ 18× units	2	1	$50,940
1× unit	2	2	$2,830
Total (24 units)			$66,992

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: $1,022,222
• Closing costs: $122,667
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $4,088,888 Active 105 DOM
2. 2026-06-17
   days on market $4,088,888 Active 104 DOM
3. 2026-06-16
   days on market $4,088,888 Active 103 DOM
4. 2026-06-15
   days on market $4,088,888 Active 102 DOM
5. 2026-06-13
   days on market $4,088,888 Active 100 DOM
6. 2026-06-09
   days on market $4,088,888 Active 96 DOM
7. 2026-06-08
   days on market $4,088,888 Active 95 DOM
8. 2026-06-07
   days on market $4,088,888 Active 94 DOM
9. 2026-06-04
   days on market $4,088,888 Active 91 DOM
10. 2026-06-03
    days on market $4,088,888 Active 90 DOM
11. 2026-06-02
    days on market $4,088,888 Active 89 DOM
12. 2026-06-01
    days on market $4,088,888 Active 88 DOM
13. 2026-05-31
    days on market $4,088,888 Active 87 DOM
14. 2026-05-11
    price $4,088,888 1054-char remark

    Show marketing remark (1054 chars)

    This offering presents an excellent opportunity to acquire a 24-unit apartment community located in the highly desirable Highland Park neighborhood of Los Angeles. Built in 1961, the property consists of approximately 19,828 square feet of improvements situated on a 29,724 square foot lot. The unit mix includes 5 one-bedroom / one-bath units, 18 two-bedroom / one-bath units, and 1 two-bedroom / two-bath unit, offering a strong configuration that supports long-term tenant demand. Residents benefit from the property's proximity to Downtown Los Angeles via the 110 Freeway and convenient access to the Metro Gold Line, connecting Highland Park to South Pasadena, Pasadena, and DTLA. The property is also located near the vibrant Figueroa Street retail corridor, providing tenants with easy access to Highland Park's popular restaurants, cafes, shops, and neighborhood amenities. Opportunities to acquire assets of this scale in Highland Park remain limited, as the neighborhood is largely built-out and new multifamily development remains constrained.

15. 2026-04-21
    price $4,188,888 1054-char remark

    Show marketing remark (1054 chars)

    This offering presents an excellent opportunity to acquire a 24-unit apartment community located in the highly desirable Highland Park neighborhood of Los Angeles. Built in 1961, the property consists of approximately 19,828 square feet of improvements situated on a 29,724 square foot lot. The unit mix includes 5 one-bedroom / one-bath units, 18 two-bedroom / one-bath units, and 1 two-bedroom / two-bath unit, offering a strong configuration that supports long-term tenant demand. Residents benefit from the property's proximity to Downtown Los Angeles via the 110 Freeway and convenient access to the Metro Gold Line, connecting Highland Park to South Pasadena, Pasadena, and DTLA. The property is also located near the vibrant Figueroa Street retail corridor, providing tenants with easy access to Highland Park's popular restaurants, cafes, shops, and neighborhood amenities. Opportunities to acquire assets of this scale in Highland Park remain limited, as the neighborhood is largely built-out and new multifamily development remains constrained.

16. 2026-03-05
    listed $4,208,888 Active 1054-char remark

    Show marketing remark (1054 chars)

    This offering presents an excellent opportunity to acquire a 24-unit apartment community located in the highly desirable Highland Park neighborhood of Los Angeles. Built in 1961, the property consists of approximately 19,828 square feet of improvements situated on a 29,724 square foot lot. The unit mix includes 5 one-bedroom / one-bath units, 18 two-bedroom / one-bath units, and 1 two-bedroom / two-bath unit, offering a strong configuration that supports long-term tenant demand. Residents benefit from the property's proximity to Downtown Los Angeles via the 110 Freeway and convenient access to the Metro Gold Line, connecting Highland Park to South Pasadena, Pasadena, and DTLA. The property is also located near the vibrant Figueroa Street retail corridor, providing tenants with easy access to Highland Park's popular restaurants, cafes, shops, and neighborhood amenities. Opportunities to acquire assets of this scale in Highland Park remain limited, as the neighborhood is largely built-out and new multifamily development remains constrained.

17. 2012-01-01
    historical
18. 2011-02-26
    listed $3,600,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $803,904
• − Mortgage interest: −$229,041
• − Property taxes: −$61,333
• − Insurance: −$20,444
• − Repairs & maintenance: −$64,312
• − Management: −$64,312
• − Depreciation: −$118,949
• Taxable income: $245,511
• Est. tax owed @ 24.0%: −$58,923
• After-tax cash flow: $237,073/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.

Condition & rehab AI · 11 photos

Fair 45/100 Moderate rehab

This 24-unit apartment community in Highland Park requires moderate rehabilitation to improve its condition and increase its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — Aged and in need of replacement
• Major concrete driveway and walkways — Severe cracking and need for repair
• Major HVAC units — Old and in need of replacement

Value-add opportunities

• Both exterior siding and roof replacement — Significant increase in curb appeal and property value
• Both HVAC unit replacement — Improved comfort and energy efficiency
• Both landscaping and exterior maintenance — Enhanced curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · Aged and in need of replacement	Major	$15,000–50,000
concrete driveway and walkways · Severe cracking and need for repair	Major	$15,000–50,000
HVAC units · Old and in need of replacement	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both exterior siding and roof replacement — Significant increase in curb appeal and property value ↑
• Both HVAC unit replacement — Improved comfort and energy efficiency ↑
• Both landscaping and exterior maintenance — Enhanced curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 56,835
• Household income: $95,282
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 2699.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 56% White 24% Two or more races 22% Asian 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 36% · Canada, China, South Korea
• Languages at home: 40% English-only · Spanish 47% Tagalog/Filipino 5% Chinese 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: ▼ -1816.99%
• Current HPI: 637.0324
• Rent YoY: ▲ 1.34%
• 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

+13.6% since first listed

5 events — show timeline

• 2026-05-11 Price Changed $4,088,888 TheMLS
• 2026-04-21 Price Changed $4,188,888 TheMLS
• 2026-03-05 Listed $4,208,888 TheMLS
• 2012-01-01 Listing Removed — CRMLS
• 2011-02-26 Listed $3,600,000 CRMLS