8016 Selma Ave · Los Angeles, CA 90046

$3,195,000

12 bd · 8.0 ba · 9,884 sqft · MultiFamily public records · 41 Days on market

Built 1937 0.34 ac lot

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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).

• ARV discount +7.5/15.0
• Cash flow +6.8/30.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 1% rule +1.2/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. 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

First time on the market in over 65 years! This spectacular French Normandy courtyard style building has been held by the same family through 7 decades. Prize location, just 2 blocks from the legendary Chateau Marmont, at the east entry of the Sunset Strip. 8 generously proportioned units comprised of 4 -2 bedroom/ 2bath townhouse style units and 4- 1 bedroom/1 bath units sited on a lot of over 14000 square feet! Character abounds! Original stained glass living room windows, kitchens with floor to ceiling tiled walls, decorative fireplace mantles and iron work, warm original hardwood flooring in excellent condition, magnesite stairways. All units have their own rear service entrance as well

Key facts

• 0.34 acre lot
• 4 garage spots
• Built 1937

Property features AI

Finance

• Other: Property sold/as-is and subject to rent control
• Financial info: Actual annual gross rent: $198,672; Net operating income: $140,089; Total annual expenses: $58,583; Cap rate: 4.38; Gross rent multiplier: 16.3; Owner pays water and gardener; tenants pay electric and cable TV; Unit breakdown: four 1-bed/1-bath units and four 2-bed/2-bath units with current rents noted per unit type
• HOA & community: Complex contains 8 units

Exterior

• Parking: Covered parking; 4+ car garage; Gated parking; Driveway; Total of 10 parking spaces
• Security: Gated garage/parking
• Utilities: Public water; Sewer paid in street
• Home design: Residential income property; Townhouse-style units; Two-story building; Faces north
• Construction: Fee land type; Zoned LAR3
• Exterior features: Rolled/hot mop roof; Corner lot; Hills and city views; Other on-site structures

Interior

• Kitchen: Gas cooking; Tile counters
• Bedrooms: Unit mix includes one-bedroom and two-bedroom units (multiple units of each)
• Flooring: Hardwood floors; Tile floors; Vinyl tile floors
• Bathrooms: Shower and tub combinations
• Heating & cooling: Wall/window unit cooling; Gravity heat; Gas water heater
• Interior features: Crown moldings; Foyer entry; Decorative fireplace
• Laundry & utility: Laundry in unit; Laundry located inside units; Gas dryer hookup; Stackable washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/?-bath units multifamily listed at $3.19M.

Deal economics

• At list price, monthly cash flow is $-5k ($-60k/yr) — negative. Per door: $-1k/mo.
• To cash-flow at today's rent, offer at most $2.31M (27.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.98M (38.2% below list).
• Recommended offer: $1.98M (38.2% below list) — sets the bar for 1% rule.
• Cap rate 4.4% 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 (-1.5%/yr); 343 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 $19,755/mo this rent would consume 246% of the median local household income ($96k/yr) (locally 5563% 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 $22k of loan paydown is wiped out by about $96k 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 41 days — a 3% lower offer ($3.10M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1937 — 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 $1,975,500 (38.2% 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 41 days. Have you received any prior offers? Is the seller open to a 38% 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 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
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: 0.62% ✗
• Cap rate: 4.42%
• Cash-on-cash: -6.69%
• DSCR: 0.70
• GRM: 13.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -31.0%
• Equity multiple: 0.00×
• Total profit: $-894,117
• Equity at exit: $476,385

10-year hold

• IRR: -52.2%
• Equity multiple: -0.58×
• Total profit: $-1,414,134
• Equity at exit: $276,245

Cash invested: $894,600 (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 90046

• Rents YoY: -1.5%
• Active inventory: 343
• Price-to-rent: 53.9×

Monthly cashflow live

• Estimated rent: $19,755 medium
• Mortgage (P&I): −$16,755
• Tax from tax record: −$2,511 /mo · $30,136/yr
• Insurance: −$1,331
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,149
• Net cashflow: $-4,991

Break-even live

Break-even rent $26,073

Max offer price $2,313,310

Occupancy floor —

Sensitivity live

Price	-10% $-3,182	-5% $-4,087	+0% $-4,991	+5% $-5,895	+10% $-6,800
Rent	-10% $-6,552	-5% $-5,771	+0% $-4,991	+5% $-4,211	+10% $-3,430
Rate	-1.0pp $-3,382	-0.5pp $-4,178	base $-4,991	+0.5pp $-5,819	+1.0pp $-6,661

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	—	$19,756
Total (4 units)			$19,755

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: $798,750
• Closing costs: $95,850
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-03
   status $3,195,000 Pending 41 DOM
2. 2026-06-02
   days on market $3,195,000 Backup Offers Accepted 41 DOM
3. 2026-06-01
   days on market $3,195,000 Backup Offers Accepted 40 DOM
4. 2026-05-31
   days on market $3,195,000 Backup Offers Accepted 39 DOM
5. 2026-04-29
   historical Backup Offers Accepted
6. 2026-04-22
   listed $3,195,000 Active
7. 2026-04-06
   historical $3,195,000

ⓘ 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: $30,136 · $2,511/mo
• Projected year-2 tax: $30,136 · $2,511/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 2/10 Low
• 🌡 Heat 6/10 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: $237,060
• − Mortgage interest: −$178,970
• − Property taxes: −$30,136
• − Insurance: −$15,975
• − Repairs & maintenance: −$18,965
• − Management: −$18,965
• − Depreciation: −$92,945
• Taxable loss: −$118,896
• Est. tax savings @ 24.0%: +$28,535
• After-tax cash flow: $-31,358/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): 48,296
• Household income: $96,250
• Rent vs Own: 77.8% rent · 22.2% own
• Severe rent burden: 5563.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 16% Two or more races 13% Asian 7% Black 5%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Scotch-Irish 6% Lithuanian 4% Romanian 4%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 71% English-only · Spanish 9% Russian/Polish/Slavic 8% Other Indo-European 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: ▼ -571.28%
• Current HPI: 365.8036
• Rent YoY: ▼ -1.48%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-04-29 Contingent — TheMLS
• 2026-04-22 Listed $3,195,000 TheMLS
• 2026-04-06 Coming Soon $3,195,000 TheMLS

Property tax history

+12.1%/yr

Latest (2025): $30,136 · +1.7% YoY. Source: county tax records.