681 Shatto Pl · Los Angeles, CA 90005

$5,299,000

1 bd · 30.0 ba · 24,642 sqft · MultiFamily public records · 15 Days on market

Built 1923 10,759 sqft lot Est $3721k · 42% over

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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).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Schools +3.6/10.0
• Appreciation +3.4/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

JNM Realty proudly presents, on an exclusive basis, 681 Shatto Pl, an extremely well-managed and maintained thirty (30) unit, non-brick apartment building in the heart of Koreatown, one (1) block from the brand new Wilshire/Vermont Metro Station and across the street from Southwestern Law School. The property features twenty-four (24) large Studio units and six (6) 1-bedroom/one-bathroom units. Twenty-four (24) units are renovated and there is over 45% potential upside for non-renovated units. Renovated units feature new kitchens, flooring, electrical systems, and new appliances. Five (5) units will be delivered vacant at close. The property has been excellently maintained over the past 12

Key facts

• New kitchens
• Renovated units
• New flooring

Tags

• MAINTAINED APARTMENT BUILDING
• LARGE STUDIO UNITS
• RENOVATED UNITS
• NEW KITCHENS
• NEW FLOORING
• NEW ELECTRICAL SYSTEMS

Property features AI

Finance

• Other: Property sold or offered as-is (As Is disclosure)
• Financial info: Gross operating income approximately $624,280; Net operating income approximately $366,849; Total annual expenses approximately $257,431; Cap rate about 6.92%; Gross rent multiplier about 8.49; Vacancy rate listed at 5%; Actual rent and unit breakdowns: 24 studio-like units with rent around $1,675; 6 one-bedroom units with rent around $1,770; Projected and actual rent totals provided for unit types
• HOA & community: 30 total units in the complex

Exterior

• Parking: No garage
• Security: Gated entry; Card/code access
• Utilities: No specific utility details provided
• Home design: Residential income property; Three or more levels (multi-level); Single building (one building on site); Zoned LAR5
• Construction: No other detached structures reported
• Exterior features: Gated property; Card/code access security

Interior

• Kitchen: Range; Gas oven
• Bedrooms: One-bedroom and studio apartments (building contains both 0-bed and 1-bed unit types)
• Bathrooms: One bathroom in listed unit types
• Heating & cooling: Air conditioning; Other heat
• Interior features: Remodeled kitchens
• Laundry & utility: On-site community laundry

What this means for you Summary

Snapshot

• This is a 1-bed/30.0-bath multifamily listed at $5.30M.

Deal economics

• At list price, monthly cash flow is $20k ($239k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($68k rent vs $5.30M).
• Recommended offer: $5.22M (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% 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 (-0.8%/yr); 71 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $68,303/mo this rent would consume 1659% of the median local household income ($49k/yr) (locally 5754% 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 $37k of loan paydown is wiped out by about $159k 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 15 days — a 2% lower offer ($5.22M) is reasonable based on typical stale-listing flexibility.
• 25 sale attempts since 3y 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 $3.15M; list at $5.30M implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• 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 $5,219,515 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.29% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.13%
• DSCR: 1.72
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $3,720,942
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2819 Leeward Ave	0.35mi	1/47.0	26,756 (+9%)	10mo	$4,050,000	$151	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.14×
• Total profit: $210,922
• Equity at exit: $790,098

10-year hold

• IRR: 10.4%
• Equity multiple: 1.70×
• Total profit: $1,043,522
• Equity at exit: $458,161

Cash invested: $1,483,720 (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 90005

• Home prices YoY: -1.0%
• Rents YoY: -0.8%
• Active inventory: 71
• Price-to-rent: 194.0×

Monthly cashflow live

• Estimated rent: $68,303 high
• Mortgage (P&I): −$27,789
• Tax from tax record: −$4,018 /mo · $48,211/yr
• Insurance: −$2,208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$14,344
• Net cashflow: $19,945

Break-even live

Break-even rent $43,056

Max offer price $5,299,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 30× units	1	1	$68,310
Total (30 units)			$68,303

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: $1,324,750
• Closing costs: $158,970
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $5,299,000 Active 15 DOM
2. 2026-06-17
   days on market $5,299,000 Active 14 DOM
3. 2026-06-16
   days on market $5,299,000 Active 13 DOM
4. 2026-06-15
   days on market $5,299,000 Active 12 DOM
5. 2026-06-13
   days on market $5,299,000 Active 10 DOM
6. 2026-06-09
   days on market $5,299,000 Active 6 DOM
7. 2026-06-08
   days on market $5,299,000 Active 5 DOM
8. 2026-06-07
   days on market $5,299,000 Active 4 DOM
9. 2026-06-04
   remarks 699-char remark
10. 2026-06-04
    listed $5,299,000 Active 1 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: $48,211 · $4,018/mo
• Projected year-2 tax: $48,211 · $4,018/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 6/10 Major 7 d/yr ≥90°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $819,636
• − Mortgage interest: −$296,826
• − Property taxes: −$48,211
• − Insurance: −$26,495
• − Repairs & maintenance: −$65,571
• − Management: −$65,571
• − Depreciation: −$154,153
• Taxable income: $162,809
• Est. tax owed @ 24.0%: −$39,074
• After-tax cash flow: $200,270/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): 39,142
• Household income: $49,419
• Rent vs Own: 91.1% rent · 8.9% own
• Severe rent burden: 5754.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 48% Asian 32% Two or more races 15% White 11% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 1% Scotch-Irish 1% Italian 1%
• Foreign-born: 53% · Canada, South Korea, China
• Languages at home: 26% English-only · Spanish 44% Korean 21% Tagalog/Filipino 3%

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: ▼ -3.20%
• Current HPI: 317.2795
• Rent YoY: ▼ -0.80%
• 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

+1727.2% since first listed

52 events — show timeline

• 2026-05-27 Listed $5,299,000 TheMLS
• 2025-07-01 Rental Removed $1,650 RENTALBEAST
• 2025-06-14 Listed for Rent $1,650 RENTALBEAST
• 2025-06-13 Rental Removed $1,650 RENTALBEAST
• 2025-06-09 Listed for Rent $1,650 RENTALBEAST
• 2025-06-09 Rental Removed $2,550 TURBOTENANT
• 2025-04-24 Listed for Rent $2,550 TURBOTENANT
• 2025-03-08 Rental Removed $2,550 TURBOTENANT
• 2025-03-06 Listed for Rent $2,550 TURBOTENANT
• 2025-03-03 Rental Removed $2,550 RENTALBEAST
• 2025-03-03 Rental Removed $2,550 RENTALBEAST
• 2025-03-02 Listed for Rent $2,550 RENTALBEAST
• 2025-03-02 Listed for Rent $1,725 RENTALBEAST
• 2025-02-27 Rental Removed $1,725 TURBOTENANT
• 2025-02-13 Listed for Rent $1,725 TURBOTENANT
• 2025-02-13 Rental Removed $1,725 RENTALBEAST
• 2025-02-10 Listed for Rent $1,725 RENTALBEAST
• 2025-02-01 Rental Removed $1,650 TURBOTENANT
• 2024-11-01 Rental Removed $1,650 RENTALBEAST
• 2024-11-01 Listed for Rent $1,650 TURBOTENANT
• 2024-10-31 Listed for Rent $1,725 RENTALBEAST
• 2024-10-31 Rental Removed $1,725 RENTALBEAST
• 2024-10-03 Listed for Rent $1,725 RENTALBEAST
• 2024-09-15 Rental Removed $1,695 TURBOTENANT
• 2024-09-10 Listed for Rent $1,695 TURBOTENANT
• 2024-09-10 Rental Removed $1,725 RENTALBEAST
• 2024-09-05 Listed for Rent $1,725 RENTALBEAST
• 2024-08-23 Rental Removed $1,725 RENTALBEAST
• 2024-07-27 Rental Removed $1,725 RENTALBEAST
• 2024-07-27 Rental Removed $1,725 TURBOTENANT
• 2024-07-27 Listed for Rent $1,725 RENTALBEAST
• 2024-07-26 Listed for Rent $1,795 TURBOTENANT
• 2024-07-04 Listed for Rent $1,795 RENTALBEAST
• 2024-07-04 Rental Removed $1,650 RENTALBEAST
• 2024-07-02 Listed for Rent $1,650 RENTALBEAST
• 2024-07-02 Rental Removed $1,725 RENTALBEAST
• 2024-06-28 Rental Removed $1,725 TURBOTENANT
• 2024-06-28 Listed for Rent $1,725 TURBOTENANT
• 2024-06-25 Listed for Rent $1,725 RENTALBEAST
• 2024-06-03 Rental Removed $1,650 RENTALBEAST
• 2024-04-23 Listed for Rent $1,650 RENTALBEAST
• 2024-04-09 Rental Removed $1,650 RENTALBEAST
• 2024-04-01 Listed for Rent $1,650 RENTALBEAST
• 2024-03-12 Rental Removed $1,650 RENTALBEAST
• 2024-03-03 Listed for Rent $1,650 RENTALBEAST
• 2024-03-03 Rental Removed $1,650 RENTALBEAST
• 2024-01-09 Listed for Rent $1,650 RENTALBEAST
• 2023-12-08 Rental Removed $1,725 RENTALBEAST
• 2023-12-05 Listed for Rent $1,725 RENTALBEAST
• 2023-05-27 Rental Removed — TURBOTENANT
• 2014-07-22 Sold (Public Records) $3,150,000 Public Records
• 1997-03-21 Sold (Public Records) $290,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $48,211 · +1.6% YoY. Source: county tax records.