644 N Serrano Ave · Los Angeles, CA 90004

$995,000

3 bd · 3.0 ba · 1,911 sqft · MultiFamily public records · 101 Days on market

Built 1912 5,526 sqft lot $521/sqft · 11% below area Est $1121k · 11% 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 +29.4/30.0
• ARV discount +12.5/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

ALL UNITS SEPARATELY METERED FOR WATER, GAS, AND ELECTRIC. A MAJOR VALUE ADD FOR INVESTORS! Located in Los Angeles within the vibrant Melrose District, this well-positioned triplex offers an excellent opportunity in one of the city's most sought-after urban neighborhoods, known for its trendy boutiques, diverse dining, and close proximity to Hollywood, Koreatown, and Downtown LA. This multi-family property features three units with a functional layout, including a front unit with 3 bedrooms and 2 bathrooms, a rear unit with 2 bedrooms and 1 bathroom, and an additional studio unit with 1 bathroom, creating multiple income streams and flexible living options. Ideal for investors seeking strong rental potential or owner-occupants looking to offset their mortgage by renting out additional units, the property offers versatility for both income generation and multi-generational living. Gated property with rear access and parking for up to six vehicles in the back. Conveniently located near Melrose Avenue, major freeways, public transportation, shopping, dining, and key employment hubs, this property is perfectly situated for long term value and demand. ALL UNITS ARE SEPARATELY METERED FOR WATER, GAS, AND ELECTRICITY, A SIGNIFICANT ADVANTAGE THAT HELPS REDUCE OPERATING EXPENSES AND INCREASE OVERALL INVESTMENT EFFICIENCY. Buyer to verify all information, including permits, square footage, and unit details.

Key facts

• Gated property
• Separately metered
• Rear access

Tags

• SEPARATELY METERED
• GATED PROPERTY
• REAR ACCESS
• PARKING FOR SIX VEHICLES
• LOCATED IN MELROSE DISTRICT
• MULTIPLE INCOME STREAMS

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/4.0-bath units multifamily listed at $995k.

Deal economics

• At list price, monthly cash flow is $4k ($42k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $995k).
• Recommended offer: $905k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 soft (-1.7%/yr); 142 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); 50% 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 $12,195/mo this rent would consume 226% of the median local household income ($65k/yr) (locally 6512% 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 $7k of loan paydown is wiped out by about $30k 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 101 days — a 9% lower offer ($905k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $95k; list at $995k implies a 947% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — 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 $905,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 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. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
10. 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.
11. 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: 1.23% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.14%
• DSCR: 1.67
• GRM: 6.8

CMA / ARV

• ARV (median comp): $1,120,691
• List price: $995,000
• Delta: -11.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4938 Maplewood Ave	0.30mi	2/2.0 (-1)	1,706 (-11%)	20mo	$1,050,000	$615	43
853 N Ridgewood Pl	0.55mi	4/4.0 (+1)	2,096 (+10%)	9mo	$750,000	$358	42
508 N Kingsley Dr	0.27mi	4/4.0 (+1)	1,656 (-13%)	21mo	$1,062,000	$641	39
441 N Norton Ave	0.65mi	4/2.0 (+1)	1,664 (-13%)	4mo	$1,189,000	$715	36

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: 2.6%
• Equity multiple: 1.10×
• Total profit: $26,670
• Equity at exit: $148,358

10-year hold

• IRR: 9.2%
• Equity multiple: 1.62×
• Total profit: $172,301
• Equity at exit: $86,029

Cash invested: $278,600 (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 90004

• Rents YoY: -1.7%
• Active inventory: 142
• Price-to-rent: 20.4×

Monthly cashflow live

• Estimated rent: $12,195 high
• Mortgage (P&I): −$5,218
• Tax from tax record: −$486 /mo · $5,829/yr
• Insurance: −$415
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,561
• Net cashflow: $3,516

Break-even live

Break-even rent $7,745

Max offer price $995,000

Occupancy floor 66%

Sensitivity live

Price	-10% $4,079	-5% $3,797	+0% $3,516	+5% $3,234	+10% $2,953
Rent	-10% $2,552	-5% $3,034	+0% $3,516	+5% $3,998	+10% $4,479
Rate	-1.0pp $4,017	-0.5pp $3,769	base $3,516	+0.5pp $3,258	+1.0pp $2,996

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	4	$12,195
Total (3 units)			$12,195

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: $248,750
• Closing costs: $29,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
648 Serrano Ave Unit 648 Los Angeles, CA	3.0	3.0	1525	$3,895	$2.55	45d	1	0.02mi
660 N Oxford Ave Los Angeles, CA	5.0	1.0–4.0	893	$3,280	$3.67	4d	11	0.04mi
637 N Kingsley Dr #1 Los Angeles, CA	4.0	3.0	1500	$4,875	$3.25	45d	1	0.19mi
854 Serrano Pl Los Angeles, CA	3.0	2.0	1892	$4,500	$2.38	45d	1	0.19mi
637 N Kingsley Dr Los Angeles, CA	4.0	2.0	1500	$4,875	$3.25	45d	1	0.19mi
546 N Harvard Blvd Los Angeles, CA	3.0	3.0	1249	$4,500	$3.60	45d	1	0.19mi
4710 W Maplewood Ave Los Angeles, CA	3.0	3.0	1500	$3,950	$2.63	25d	1	0.22mi
913 N Hobart Blvd Los Angeles, CA	4.0	4.5	1935	$4,542	$2.35	45d	1	0.27mi
913 N Hobart Blvd Unit 1/2 Los Angeles, CA	4.0	4.5	1757	$4,395	$2.50	4d	1	0.27mi
913 N Hobart Blvd Unit 3/4 Los Angeles, CA	3.0	3.5	1564	$3,937	$2.52	45d	1	0.27mi
523 N Saint Andrews Pl Unit 523 Los Angeles, CA	3.0	2.0	1612	$3,437	$2.13	22d	1	0.29mi
928 N Western Ave Los Angeles, CA	2.0–4.0	2.0–3.0	1311	$3,445	$2.63	6d	9	0.30mi
443 N Harvard Blvd Unit 1/2 Los Angeles, CA	3.0	3.5	1350	$3,940	$2.92	6d	1	0.31mi
497 N Saint Andrews Pl Los Angeles, CA	3.0	3.5	1977	$5,490	$2.78	45d	1	0.31mi
608 N Gramercy Pl Los Angeles, CA	2.0	3.0	1250	$3,950	$3.16	45d	1	0.31mi
608 1/2 N Gramercy Pl Los Angeles, CA	2.0	3.0	1250	$3,500	$2.80	0d	1	0.31mi
945 N Oxford Ave Unit 10 Los Angeles, CA	4.0	4.0	1763	$4,600	$2.61	45d	1	0.32mi
945 N Oxford Ave Unit 6 Los Angeles, CA	4.0	4.0	2000	$4,887	$2.44	45d	1	0.32mi
5019 Maplewood Ave #105 Los Angeles, CA	3.0	2.5	2218	$5,400	$2.43	45d	1	0.33mi
4909 Rosewood Ave Los Angeles, CA	3.0	3.0	1270	$3,695	$2.91	6d	1	0.35mi
735 N Gramercy Pl Los Angeles, CA	3.0	4.0	2015	$5,990	$2.97	25d	1	0.35mi
401 N Serrano Ave Ph 3 Los Angeles, CA	3.0	2.0	1800	$5,500	$3.06	45d	1	0.35mi
4733 Elmwood Ave #304 Los Angeles, CA	3.0	2.0	1610	$3,500	$2.17	11d	1	0.36mi
4733 Elmwood Ave Los Angeles, CA	2.0–3.0	2.0	1465	$3,500	$2.39	16d	2	0.36mi
4460 Maplewood Ave Unit 1/4 Los Angeles, CA	4.0	3.5	1729	$5,041	$2.92	19d	1	0.38mi
4572 Oakwood Ave Unit 4572 Los Angeles, CA	4.0	4.0	1750	$4,400	$2.51	9d	1	0.38mi
5150 Romaine St Los Angeles, CA	3.0	2.0	1280	$3,495	$2.73	16d	1	0.40mi
5152 Romaine St Los Angeles, CA	3.0	2.0	1280	$3,650	$2.85	0d	1	0.41mi
339 N Harvard Blvd Los Angeles, CA	3.0	2.0	1350	$3,550	$2.63	45d	1	0.41mi
525 N Wilton Pl Los Angeles, CA	1.0–2.0	1.0–2.0	1066	$5,095	$4.78	25d	5	0.41mi
5526 Barton Ave Los Angeles, CA	3.0	2.0	1300	$3,400	$2.62	45d	1	0.43mi
623 N Mariposa Ave Los Angeles, CA	3.0	3.5	1600	$4,500	$2.81	20d	1	0.43mi
963 N Saint Andrews Pl Los Angeles, CA	4.0	3.0	1691	$4,000	$2.37	45d	1	0.44mi
1035 N Serrano Ave Unit 3 Los Angeles, CA	4.0	3.5	1806	$5,600	$3.10	45d	1	0.44mi
4841 Elmwood Ave Los Angeles, CA	3.0	2.5	2100	$4,429	$2.11	25d	1	0.45mi
1034 N Oxford Ave Unit 1034 Los Angeles, CA	4.0	3.5	1941	$4,308	$2.22	45d	1	0.45mi
766 N Ridgewood Pl Unit 1 Los Angeles, CA	2.0	1.0	1300	$3,350	$2.58	45d	1	0.45mi
766 N Ridgewood Pl Los Angeles, CA	2.0	1.0	1300	$3,350	$2.58	45d	1	0.45mi
618 S Mariposa Ave Unit 1/2 Los Angeles, CA	3.0	3.5	1829	$4,540	$2.48	4d	1	0.47mi
4830 Elmwood Ave #303 Los Angeles, CA	2.0	2.0	1457	$3,150	$2.16	25d	1	0.47mi

Listing history 7 events

1. 2026-06-04
   days on market $995,000 Active 101 DOM
2. 2026-06-03
   days on market $995,000 Active 100 DOM
3. 2026-06-02
   days on market $995,000 Active 99 DOM
4. 2026-06-01
   days on market $995,000 Active 98 DOM
5. 2026-05-31
   days on market $995,000 Active 97 DOM
6. 2026-02-23
   listed $995,000 Active 1421-char remark

   Show marketing remark (1421 chars)

   ALL UNITS SEPARATELY METERED FOR WATER, GAS, AND ELECTRIC. A MAJOR VALUE ADD FOR INVESTORS! Located in Los Angeles within the vibrant Melrose District, this well-positioned triplex offers an excellent opportunity in one of the city's most sought-after urban neighborhoods, known for its trendy boutiques, diverse dining, and close proximity to Hollywood, Koreatown, and Downtown LA. This multi-family property features three units with a functional layout, including a front unit with 3 bedrooms and 2 bathrooms, a rear unit with 2 bedrooms and 1 bathroom, and an additional studio unit with 1 bathroom, creating multiple income streams and flexible living options. Ideal for investors seeking strong rental potential or owner-occupants looking to offset their mortgage by renting out additional units, the property offers versatility for both income generation and multi-generational living. Gated property with rear access and parking for up to six vehicles in the back. Conveniently located near Melrose Avenue, major freeways, public transportation, shopping, dining, and key employment hubs, this property is perfectly situated for long term value and demand. ALL UNITS ARE SEPARATELY METERED FOR WATER, GAS, AND ELECTRICITY, A SIGNIFICANT ADVANTAGE THAT HELPS REDUCE OPERATING EXPENSES AND INCREASE OVERALL INVESTMENT EFFICIENCY. Buyer to verify all information, including permits, square footage, and unit details.

7. 1986-06-12
   soldstatus $95,000

ⓘ 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: $5,829 · $486/mo
• Projected year-2 tax: $7,562 · $630/mo
• Expected delta: +$1,733/yr (+$144/mo · 29.7%)

ⓘ 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 ≥92°F today · 22 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: $146,340
• − Mortgage interest: −$55,735
• − Property taxes: −$5,829
• − Insurance: −$4,975
• − Repairs & maintenance: −$11,707
• − Management: −$11,707
• − Depreciation: −$28,945
• Taxable income: $27,440
• Est. tax owed @ 24.0%: −$6,586
• After-tax cash flow: $35,604/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): 58,484
• Household income: $64,826
• Rent vs Own: 83.8% rent · 16.2% own
• Severe rent burden: 6512.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 46% Asian 25% White 21% Two or more races 11% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 1% Romanian 1% Scotch-Irish 1%
• Foreign-born: 47% · Canada, South Korea, China
• Languages at home: 34% English-only · Spanish 40% Korean 10% Tagalog/Filipino 8%

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: ▼ -896.52%
• Current HPI: 421.3689
• Rent YoY: ▼ -1.71%
• 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

+947.4% since first listed

2 events — show timeline

• 2026-02-23 Listed $995,000 TheMLS
• 1986-06-12 Sold (Public Records) $95,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $5,829 · +1.5% YoY. Source: county tax records.