933 New Depot St Unit 6 & 7 · Los Angeles, CA 90012

$578,000

4 bd · 2.0 ba · 1,732 sqft · MultiFamily · 58 Days on market

Built 1976 1.22 ac lot $334/sqft · 45% below area Est $1056k · 45% under ↓ 11% since listing

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +13.8/30.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Appreciation +3.6/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0

Multi-family units

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

Listing remarks MLS

Rare duplex gem in Victor Heights! Discover the hidden gem of Los Angeles in the trendy and serene pocket of Victor Heights. This exceptional stacked duplex at the coveted Cathay Village offers a golden opportunity for savvy investors and first-time buyers alike. Whether you are looking to build your portfolio or seeking the perfect owner-user scenario to live in one unit while the other pays your mortgage, this is the ideal turnkey starter property for a newer investor. Both units have been tastefully remodeled with a modern minimalist aesthetic and feature spacious two-bedroom, one-bathroom layouts. Inside, you will find designer finishes, including sleek granite countertops, custom cabinetry, and newer high-quality laminate flooring. The building features a tri-level design where the ground floor is dedicated to a secure parking area. Unit 7 is located on the second level, accessible by stairs, while another set of stairs leads to the top-floor privacy of Unit 6. A shared laundry area is conveniently located at the end of the second-floor hallway for both units to access. Each unit provides independence with separate gas and electric meters, individual gas water heaters, and central AC and heating. The bright living rooms flow seamlessly to private balconies, with the top unit boasting jaw-dropping views of the Downtown LA skyline. Enjoy the security of a gated community featuring an automatic gate and two reserved parking spaces in a secure garage. The location is an urban dream with an 86 Walk Score and 83 Transit Score, placing you minutes from Echo Park Lake, Dodger Stadium, Chinatown, and the world-class dining of DTLA. This property is subject to LA Rent Stabilization (RSO), offering a stable environment for wealth building. With the ease of a condo and the financial power of multi-family real estate, this is the perfect place to live in one, rent the other, and start your real estate journey in one of LA's most desirable locations. Monthly HOA dues are $294, plus a monthly special assessment of $364.70 to cover adjusted insurance costs.

Key facts

• Custom cabinetry
• Tri-level design
• Secure parking area

Tags

• REMODELED UNITS
• GRANITE COUNTERTOPS
• CUSTOM CABINETRY
• HIGH-QUALITY LAMINATE FLOORING
• TRI-LEVEL DESIGN
• SECURE PARKING AREA

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $578k.

Deal economics

• At list price, monthly cash flow is $54 ($642/yr) — positive. Per door: $27/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 $512k (11.3% below list).
• Recommended offer: $512k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 soft (-0.9%/yr); 106 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $5,124/mo this rent would consume 92% of the median local household income ($67k/yr) (locally 3885% 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 (-2.7%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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 58 days — a 3% lower offer ($561k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• 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 $512,400 (11.3% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 11% 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 1976 — 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: 0.89% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (median comp): $1,056,479
• List price: $578,000
• Delta: -45.29%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1426 Kellam Ave	0.64mi	4/2.0	1,963 (+13%)	20mo	$850,000	$433	31

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

Projected returns pro-forma

-2.71% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.39×
• Total profit: $-98,147
• Equity at exit: $93,674

10-year hold

• IRR: -15.4%
• Equity multiple: 0.18×
• Total profit: $-132,739
• Equity at exit: $62,940

Cash invested: $161,840 (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 90012

• Home prices YoY: -0.8%
• Rents YoY: -0.9%
• Active inventory: 106
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $5,124 high
• Mortgage (P&I): −$3,031
• Tax est. 1.5%: −$722 /mo · $8,670/yr
• Insurance: −$241
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,076
• Net cashflow: $54

Break-even live

Break-even rent $5,056

Max offer price $578,000

Occupancy floor 94%

Sensitivity live

Price	-10% $453	-5% $253	+0% $54	+5% $-146	+10% $-346
Rent	-10% $-351	-5% $-149	+0% $54	+5% $256	+10% $458
Rate	-1.0pp $345	-0.5pp $201	base $54	+0.5pp $-96	+1.0pp $-249

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,124
Total (2 units)			$5,124

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: $144,500
• Closing costs: $17,340
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
931 New Depot St #12 Los Angeles, CA	3.0	2.0	1169	$2,995	$2.56	44d	1	0.02mi
911 N Beaudry Ave Los Angeles, CA	3.0	2.0	1500	$3,000	$2.00	44d	1	0.14mi
1015 Figueroa Ter #19 Los Angeles, CA	3.0	2.0	1790	$4,700	$2.63	44d	1	0.20mi
1035 Figueroa Ter #18 Los Angeles, CA	3.0	3.0	1855	$5,400	$2.91	44d	1	0.21mi
1131 Sunvue Pl Los Angeles, CA	3.0	3.0	1595	$5,750	$3.61	20d	1	0.24mi
740 N Hill Pl #1 Los Angeles, CA	3.0	2.0	1200	$2,950	$2.46	6d	1	0.32mi
1123 Marion Ave Los Angeles, CA	3.0	2.0	2000	$4,695	$2.35	44d	1	0.34mi
1011 Everett St Los Angeles, CA	1.0–3.0	1.0–3.0	1085	$5,495	$5.06	4d	5	0.35mi
2003 W Bellevue Ave Los Angeles, CA	3.0	3.5	2145	$7,000	$3.26	44d	1	0.37mi
909 W Temple St Los Angeles, CA	3.0	1.0–3.0	894	$3,809	$4.26	2d	24	0.40mi
1244 Innes Ave Unit D Los Angeles, CA	5.0	3.0	1828	$5,200	$2.84	44d	1	0.42mi
1330 Kellam Ave Unit 1328 Los Angeles, CA	3.0	1.0	1274	$4,000	$3.14	44d	1	0.53mi
922 W Kensington Rd Los Angeles, CA	3.0	2.0	1700	$5,520	$3.25	15d	1	0.71mi
1312 Quintero St #11 Los Angeles, CA	3.0	2.5	1250	$3,795	$3.04	44d	1	0.71mi
1363 Colton St Los Angeles, CA	1.0–3.0	1.0–3.0	948	$2,999	$3.16	5d	3	0.73mi
1324 Sutherland St Los Angeles, CA	5.0	4.0	2214	$6,000	$2.71	44d	1	0.77mi
1101 Laveta Ter #19 Los Angeles, CA	3.0	2.5	1150	$4,299	$3.74	44d	1	0.85mi
355 Glendale Blvd Los Angeles, CA	3.0	1.0–3.0	736	$4,899	$6.66	0d	38	0.86mi
1 W 2nd St Los Angeles, CA	5.0	3.5	1638	$4,495	$2.74	44d	1	0.86mi
1541 Rockwood St Unit 8 Los Angeles, CA	3.0	1.0	1100	$2,895	$2.63	25d	1	0.88mi
1407 W 2nd St Los Angeles, CA	4.0	3.0	1432	$5,500	$3.84	22d	1	0.90mi
221 Lucas Ave Unit 1 Los Angeles, CA	3.0	2.0	1050	$3,295	$3.14	44d	1	0.92mi
225 Lucas Ave Los Angeles, CA	3.0	2.0	1050	$2,975	$2.83	44d	1	0.95mi
231 Lucas Ave Unit 3 Los Angeles, CA	3.0	2.0	1050	$2,995	$2.85	44d	1	0.95mi
333 Belmont Ave Los Angeles, CA	3.0	1.0–2.0	813	$4,799	$5.90	8d	5	1.01mi
222 S Main St Los Angeles, CA	3.0	1.0–2.0	921	$3,298	$3.58	0d	11	1.07mi
206 N Union Ave Los Angeles, CA	4.0	4.0	1841	$4,033	$2.19	22d	1	1.08mi
1656 Rockwood St Unit 1656 1/2 Los Angeles, CA	4.0	4.0	1841	$4,264	$2.32	44d	1	1.08mi
200 N Union Ave Los Angeles, CA	4.0	4.0	1841	$4,079	$2.22	44d	1	1.09mi
236 N Burlington Ave Los Angeles, CA	3.0	3.5	1089	$3,433	$3.15	14d	1	1.13mi
230 N Burlington Ave Los Angeles, CA	3.0	2.0	1350	$3,650	$2.70	44d	1	1.13mi
234 N Burlington Ave Unit 236 Los Angeles, CA	3.0	3.0	1089	$3,475	$3.19	15d	1	1.13mi
231 1/2 N Burlington Ave Los Angeles, CA	4.0	4.5	2064	$4,900	$2.37	44d	1	1.15mi
233 N Burlington Ave Los Angeles, CA	4.0	4.5	2064	$5,000	$2.42	45d	1	1.16mi
1806 Montana St Unit 1814 Los Angeles, CA	3.0	1.5	1248	$4,800	$3.85	44d	1	1.16mi
227 N Burlington Ave Unit 1 Los Angeles, CA	3.0	3.0	1456	$3,650	$2.51	25d	1	1.16mi
227 N Burlington Ave Los Angeles, CA	3.0	3.0	1456	$3,750	$2.58	17d	1	1.16mi
227 N Burlington Ave Unit 3 Los Angeles, CA	3.0	3.0	1068	$4,000	$3.75	44d	1	1.16mi
225 N Burlington Ave Los Angeles, CA	3.0	2.0	1163	$3,500	$3.01	8d	1	1.16mi
142 1/2 N Burlington Ave Los Angeles, CA	3.0	3.0	1060	$3,650	$3.44	8d	1	1.16mi

Listing history 23 events

1. 2026-06-18
   days on market $578,000 Active 58 DOM
2. 2026-06-17
   days on market $578,000 Active 57 DOM
3. 2026-06-16
   days on market $578,000 Active 56 DOM
4. 2026-06-15
   days on market $578,000 Active 55 DOM
5. 2026-06-13
   days on market $578,000 Active 53 DOM
6. 2026-06-09
   days on market $578,000 Active 49 DOM
7. 2026-06-08
   days on market $578,000 Active 48 DOM
8. 2026-06-07
   days on market $578,000 Active 47 DOM
9. 2026-06-04
   days on market $578,000 Active 44 DOM
10. 2026-06-03
    days on market $578,000 Active 43 DOM
11. 2026-06-02
    days on market $578,000 Active 42 DOM
12. 2026-06-01
    days on market $578,000 Active 41 DOM
13. 2026-05-31
    days on market $578,000 Active 40 DOM
14. 2026-04-21
    listed $578,000 Active 2082-char remark

    Show marketing remark (2082 chars)

    Rare duplex gem in Victor Heights! Discover the hidden gem of Los Angeles in the trendy and serene pocket of Victor Heights. This exceptional stacked duplex at the coveted Cathay Village offers a golden opportunity for savvy investors and first-time buyers alike. Whether you are looking to build your portfolio or seeking the perfect owner-user scenario to live in one unit while the other pays your mortgage, this is the ideal turnkey starter property for a newer investor. Both units have been tastefully remodeled with a modern minimalist aesthetic and feature spacious two-bedroom, one-bathroom layouts. Inside, you will find designer finishes, including sleek granite countertops, custom cabinetry, and newer high-quality laminate flooring. The building features a tri-level design where the ground floor is dedicated to a secure parking area. Unit 7 is located on the second level, accessible by stairs, while another set of stairs leads to the top-floor privacy of Unit 6. A shared laundry area is conveniently located at the end of the second-floor hallway for both units to access. Each unit provides independence with separate gas and electric meters, individual gas water heaters, and central AC and heating. The bright living rooms flow seamlessly to private balconies, with the top unit boasting jaw-dropping views of the Downtown LA skyline. Enjoy the security of a gated community featuring an automatic gate and two reserved parking spaces in a secure garage. The location is an urban dream with an 86 Walk Score and 83 Transit Score, placing you minutes from Echo Park Lake, Dodger Stadium, Chinatown, and the world-class dining of DTLA. This property is subject to LA Rent Stabilization (RSO), offering a stable environment for wealth building. With the ease of a condo and the financial power of multi-family real estate, this is the perfect place to live in one, rent the other, and start your real estate journey in one of LA's most desirable locations. Monthly HOA dues are $294, plus a monthly special assessment of $364.70 to cover adjusted insurance costs.

15. 2026-02-28
    historical
16. 2026-01-06
    status Active
17. 2025-11-18
    status Active
18. 2025-11-15
    historical
19. 2025-09-11
    listed $660,000 Active
20. 2018-10-10
    soldstatus $649,000 Closed Sale
21. 2018-09-26
    status Pending Sale
22. 2018-08-16
    historical Active Under Contract
23. 2018-07-11
    listed $649,000 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥93°F today · 21 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: $61,488
• − Mortgage interest: −$32,377
• − Property taxes: −$8,670
• − Insurance: −$2,890
• − Repairs & maintenance: −$4,919
• − Management: −$4,919
• − Depreciation: −$16,815
• Taxable loss: −$9,102
• Est. tax savings @ 24.0%: +$2,184
• After-tax cash flow: $2,827/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): 37,336
• Household income: $66,860
• Rent vs Own: 92.5% rent · 7.5% own
• Severe rent burden: 3885.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Asian 35% Hispanic / Latino 29% White 19% Black 12% Two or more races 10%
• Hispanic origin (detail): Mexican 18% Cuban 1%
• Common ancestry: Romanian 1% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 42% · China, Canada, South Korea
• Languages at home: 43% English-only · Spanish 22% Chinese 14% Korean 6%

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: ▼ -2.71%
• Current HPI: 333.4828
• Rent YoY: ▼ -0.90%
• 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

-10.9% since first listed

10 events — show timeline

• 2026-04-21 Listed $578,000 TheMLS
• 2026-02-28 Listing Removed — CRMLS
• 2026-01-06 Relisted — CRMLS
• 2025-11-18 Relisted — CRMLS
• 2025-11-15 Listing Removed — CRMLS
• 2025-09-11 Listed $660,000 CRMLS
• 2018-10-10 Sold (MLS) $649,000 CRMLS
• 2018-09-26 Pending — CRMLS
• 2018-08-16 Contingent — CRMLS
• 2018-07-11 Listed $649,000 CRMLS