5227 Corteen Pl · Los Angeles, CA 91607

$2,725,000

18 bd · 16.0 ba · 11,202 sqft · MultiFamily public records · 68 Days on market

Built 1956 0.37 ac lot $243/sqft · 12% below area Est $3094k · 12% under

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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 +23.9/30.0
• ARV discount +12.9/15.0
• DSCR +7.7/10.0
• 1% rule +6.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 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

Now offered at just 10.7x gross on in-place rents! Fully occupied with 2.76% assumable financing in place. 5227 Corteen Place presents a rare opportunity to acquire a premier 10-unit multifamily asset in the heart of Valley Village, offered alongside its sister property at 5223 Corteen (separately priced). Situated on an oversized 16,000+ SF R3-zoned lot, the property offers meaningful future upside with the potential to add up to 8 ADUs (Buyer to Verify), creating a clear path to increased density and long-term value creation. The asset features a highly desirable unit mix of primarily 2- and 3-bedroom units, catering to Valley Village's strong tenant base of professionals, families, and entertainment industry employees. Built in 1956, the property is 100% occupied, delivering immediate, stable income with additional upside through strategic renovations and operational improvements. The property benefits from excellent curb appeal, lush landscaping, a gated swimming pool, and ample on-site parking amenities that continue to drive strong tenant demand and long-term retention. What truly sets this offering apart is the exceptional 2.76% interest-only assumable loan through 2030, providing immediate positive leverage in today's high-rate environment. With debt significantly below current market rates, investors can realize enhanced cash flow from day one while securing a powerful hedge against inflation and future rate volatility. Located on a quiet, tree-lined street in a prime Valley Village location, the property offers convenient access to Ventura Boulevard's retail and dining corridor, as well as proximity to major employment hubs including Studio City, Universal, and Warner Bros. Valley Village continues to stand out as one of the San Fernando Valley's most stable and consistently appreciating rental markets, driven by strong demographics and limited new supply. Together, 5223 & 5227 Corteen Place offer a rare chance to acquire scale, secure below-market debt, and unlock future density in a high-demand Los Angeles submarket all while generating durable in-place income and long-term appreciation.

Key facts

• Walkable access
• Strong mix of units
• 64 units

Tags

• 64 UNITS
• PREMIER INFILL LOCATIONS
• EXCEPTIONAL PROXIMITY
• WALKABLE ACCESS
• RENOWNED DESTINATIONS
• STRONG MIX OF UNITS

What this means for you Summary

Snapshot

• This is a 5×2bd/1ba + 5×3bd/1ba units multifamily listed at $2.73M.

Deal economics

• At list price, monthly cash flow is $5k ($64k/yr) — positive. Per door: $531/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($30k rent vs $2.73M).
• Recommended offer: $2.56M (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 (-1.1%/yr); 90 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 $29,915/mo this rent would consume 409% of the median local household income ($88k/yr) (locally 3099% 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 $19k of loan paydown is wiped out by about $82k 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 68 days — a 6% lower offer ($2.56M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $875k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,561,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% 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 1956 — 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: 1.10% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.35%
• DSCR: 1.37
• GRM: 7.6

CMA / ARV

• ARV (median comp): $3,094,295
• List price: $2,725,000
• Delta: -11.93%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.0%
• Equity multiple: 0.75×
• Total profit: $-190,906
• Equity at exit: $406,306

10-year hold

• IRR: -1.5%
• Equity multiple: 0.91×
• Total profit: $-69,006
• Equity at exit: $235,608

Cash invested: $763,000 (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 91607

• Rents YoY: -1.1%
• Active inventory: 90
• Price-to-rent: 82.7×

Monthly cashflow live

• Estimated rent: $29,915 high
• Mortgage (P&I): −$14,290
• Tax from tax record: −$2,897 /mo · $34,768/yr
• Insurance: −$1,135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,282
• Net cashflow: $5,310

Break-even live

Break-even rent $23,194

Max offer price $2,725,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$13,725
▸ 5× units	3	1	$16,190
Total (10 units)			$29,915

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: $681,250
• Closing costs: $81,750
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-16
   status Pending 2144-char remark

   Show marketing remark (2144 chars)

   Now offered at just 10.7x gross on in-place rents! Fully occupied with 2.76% assumable financing in place. 5227 Corteen Place presents a rare opportunity to acquire a premier 10-unit multifamily asset in the heart of Valley Village, offered alongside its sister property at 5223 Corteen (separately priced). Situated on an oversized 16,000+ SF R3-zoned lot, the property offers meaningful future upside with the potential to add up to 8 ADUs (Buyer to Verify), creating a clear path to increased density and long-term value creation. The asset features a highly desirable unit mix of primarily 2- and 3-bedroom units, catering to Valley Village's strong tenant base of professionals, families, and entertainment industry employees. Built in 1956, the property is 100% occupied, delivering immediate, stable income with additional upside through strategic renovations and operational improvements. The property benefits from excellent curb appeal, lush landscaping, a gated swimming pool, and ample on-site parking amenities that continue to drive strong tenant demand and long-term retention. What truly sets this offering apart is the exceptional 2.76% interest-only assumable loan through 2030, providing immediate positive leverage in today's high-rate environment. With debt significantly below current market rates, investors can realize enhanced cash flow from day one while securing a powerful hedge against inflation and future rate volatility. Located on a quiet, tree-lined street in a prime Valley Village location, the property offers convenient access to Ventura Boulevard's retail and dining corridor, as well as proximity to major employment hubs including Studio City, Universal, and Warner Bros. Valley Village continues to stand out as one of the San Fernando Valley's most stable and consistently appreciating rental markets, driven by strong demographics and limited new supply. Together, 5223 & 5227 Corteen Place offer a rare chance to acquire scale, secure below-market debt, and unlock future density in a high-demand Los Angeles submarket all while generating durable in-place income and long-term appreciation.

2. 2026-04-27
   price $2,725,000 2144-char remark

   Show marketing remark (2144 chars)

   Now offered at just 10.7x gross on in-place rents! Fully occupied with 2.76% assumable financing in place. 5227 Corteen Place presents a rare opportunity to acquire a premier 10-unit multifamily asset in the heart of Valley Village, offered alongside its sister property at 5223 Corteen (separately priced). Situated on an oversized 16,000+ SF R3-zoned lot, the property offers meaningful future upside with the potential to add up to 8 ADUs (Buyer to Verify), creating a clear path to increased density and long-term value creation. The asset features a highly desirable unit mix of primarily 2- and 3-bedroom units, catering to Valley Village's strong tenant base of professionals, families, and entertainment industry employees. Built in 1956, the property is 100% occupied, delivering immediate, stable income with additional upside through strategic renovations and operational improvements. The property benefits from excellent curb appeal, lush landscaping, a gated swimming pool, and ample on-site parking amenities that continue to drive strong tenant demand and long-term retention. What truly sets this offering apart is the exceptional 2.76% interest-only assumable loan through 2030, providing immediate positive leverage in today's high-rate environment. With debt significantly below current market rates, investors can realize enhanced cash flow from day one while securing a powerful hedge against inflation and future rate volatility. Located on a quiet, tree-lined street in a prime Valley Village location, the property offers convenient access to Ventura Boulevard's retail and dining corridor, as well as proximity to major employment hubs including Studio City, Universal, and Warner Bros. Valley Village continues to stand out as one of the San Fernando Valley's most stable and consistently appreciating rental markets, driven by strong demographics and limited new supply. Together, 5223 & 5227 Corteen Place offer a rare chance to acquire scale, secure below-market debt, and unlock future density in a high-demand Los Angeles submarket all while generating durable in-place income and long-term appreciation.

3. 2026-03-09
   listed $3,600,000 Active 2144-char remark

   Show marketing remark (2144 chars)

   Now offered at just 10.7x gross on in-place rents! Fully occupied with 2.76% assumable financing in place. 5227 Corteen Place presents a rare opportunity to acquire a premier 10-unit multifamily asset in the heart of Valley Village, offered alongside its sister property at 5223 Corteen (separately priced). Situated on an oversized 16,000+ SF R3-zoned lot, the property offers meaningful future upside with the potential to add up to 8 ADUs (Buyer to Verify), creating a clear path to increased density and long-term value creation. The asset features a highly desirable unit mix of primarily 2- and 3-bedroom units, catering to Valley Village's strong tenant base of professionals, families, and entertainment industry employees. Built in 1956, the property is 100% occupied, delivering immediate, stable income with additional upside through strategic renovations and operational improvements. The property benefits from excellent curb appeal, lush landscaping, a gated swimming pool, and ample on-site parking amenities that continue to drive strong tenant demand and long-term retention. What truly sets this offering apart is the exceptional 2.76% interest-only assumable loan through 2030, providing immediate positive leverage in today's high-rate environment. With debt significantly below current market rates, investors can realize enhanced cash flow from day one while securing a powerful hedge against inflation and future rate volatility. Located on a quiet, tree-lined street in a prime Valley Village location, the property offers convenient access to Ventura Boulevard's retail and dining corridor, as well as proximity to major employment hubs including Studio City, Universal, and Warner Bros. Valley Village continues to stand out as one of the San Fernando Valley's most stable and consistently appreciating rental markets, driven by strong demographics and limited new supply. Together, 5223 & 5227 Corteen Place offer a rare chance to acquire scale, secure below-market debt, and unlock future density in a high-demand Los Angeles submarket all while generating durable in-place income and long-term appreciation.

4. 2024-03-14
   historical $2,450
5. 2024-01-31
   price $2,450
6. 2024-01-26
   listed $2,195
7. 2023-08-20
   historical $2,195
8. 2023-07-16
   listed $2,195
9. 2022-08-12
   price $2,495
10. 2015-09-04
    soldstatus $4,650,000
11. 2007-06-01
    soldstatus $1,980,000
12. 1992-09-22
    soldstatus $575,000
13. 1981-01-14
    soldstatus $302,500

ⓘ 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: $34,768 · $2,897/mo
• Projected year-2 tax: $34,768 · $2,897/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 8 d/yr ≥97°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $358,980
• − Mortgage interest: −$152,642
• − Property taxes: −$34,768
• − Insurance: −$13,625
• − Repairs & maintenance: −$28,718
• − Management: −$28,718
• − Depreciation: −$79,273
• Taxable income: $21,235
• Est. tax owed @ 24.0%: −$5,096
• After-tax cash flow: $58,622/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): 31,890
• Household income: $87,874
• Rent vs Own: 70.1% rent · 29.9% own
• Severe rent burden: 3099.0

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 0.62)
• Race & ethnicity: White 57% Hispanic / Latino 21% Two or more races 15% Asian 8% Black 7%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Scotch-Irish 4% Romanian 3% Subsaharan African 2%
• Foreign-born: 29% · Canada, Vietnam, Jamaica
• Languages at home: 61% English-only · Spanish 16% Other Indo-European 9% Russian/Polish/Slavic 7%

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: ▼ -861.04%
• Current HPI: 464.0519
• Rent YoY: ▼ -1.13%
• 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

+800.8% since first listed

13 events — show timeline

• 2026-05-16 Pending — TheMLS
• 2026-04-27 Price Changed $2,725,000 TheMLS
• 2026-03-09 Listed $3,600,000 TheMLS
• 2024-03-14 Rental Removed $2,450 APPFOLIO
• 2024-01-31 Price Changed $2,450 APPFOLIO
• 2024-01-26 Listed for Rent $2,195 APPFOLIO
• 2023-08-20 Rental Removed $2,195 APPFOLIO
• 2023-07-16 Listed for Rent $2,195 APPFOLIO
• 2022-08-12 Price Changed $2,495 APPFOLIO
• 2015-09-04 Sold (Public Records) $4,650,000 Public Records
• 2007-06-01 Sold (Public Records) $1,980,000 Public Records
• 1992-09-22 Sold (Public Records) $575,000 Public Records
• 1981-01-14 Sold (Public Records) $302,500 Public Records

Property tax history

+1.8%/yr

Latest (2025): $34,768 · +0.6% YoY. Source: county tax records.