8129 S San Pedro St · Los Angeles, CA 90003

$395,000

None bd · None ba · — sqft · MultiFamily · 35 Days on market

Built 1924 2,559 sqft lot

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

Multi-family units

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

Listing remarks

Rare RTI development opportunity in South Los Angeles, shovel-ready & priced to move. This cleared corner lot at San Pedro St and E 82nd Place offers City-approved plans for a 2-story, 4-unit residential project (2 primary units + 2 ADUs), with onsite parking included. At approximately 2,558 SF and zoned R3, the site is ideally suited for a small developer or investor-operator looking to build & hold for income. Projected Section 8 rental income of $2,041/unit/month (current HACLA 0BR for 90003) translates to approximately $97,968 in gross annual income. New construction ADUs are RSO-exempt for 30 years. Permits are in hand so no entitlement risk & no waiting to build here

Key facts

• Onsite parking
• Cleared corner lot
• City approved plans

Tags

• CLEARED CORNER LOT
• CITY APPROVED PLANS
• ONSITE PARKING
• ZONED R3
• DUAL STREET FRONTAGE
• READY TO BUILD INCOME PLAY

Property features AI

Finance

• Other: Zoning: LAR3; Lot dimensions approximately 43 x 60
• Financial info: Gross income reported as 0; Income scheduled as 'Scheduled'; One building on the parcel; Unit type count: 1 (unit types listed as N/A)
• HOA & community: No HOA information provided

Exterior

• Parking: On-street parking
• Security: No security features listed
• Utilities: No utility details provided
• Home design: Residential income property; One story
• Construction: No construction material, roof, foundation, or year built provided; No other structures (none)
• Exterior features: Fenced lot; Rectangular, level/flat lot; Sidewalks; Single lot; Value in land

Interior

• Kitchen: No kitchen appliances or details provided
• Bedrooms: Unit configured as non-residential / no bedrooms listed
• Flooring: No flooring details provided
• Bathrooms: No bathrooms listed
• Heating & cooling: No heating; No cooling
• Interior features: One-level layout
• Laundry & utility: No laundry or utility details provided

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $395k.

Deal economics

• At list price, monthly cash flow is $5k ($63k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $395k).
• Recommended offer: $383k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.2% 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 flat; 161 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $10,093/mo this rent would consume 216% of the median local household income ($56k/yr) (locally 4550% 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 $3k of loan paydown is wiped out by about $12k 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.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $111k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 7y ago; this cycle's ask has dropped $94k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $383,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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 1924 — 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: 2.56% ✓
• Cap rate: 22.22%
• Cash-on-cash: 56.89%
• DSCR: 3.53
• GRM: 3.3

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8110 S San Pedro St	0.04mi	10/7.0	3,752	2mo	$1,295,000	$345	84
8115 S San Pedro	0.03mi	5/2.0	1,567	2mo	$730,000	$466	84
158 E 85th	0.35mi	6/3.0	1,453	0mo	$825,000	$568	71
217 E 77th St	0.31mi	5/2.0	2,120	3mo	$905,000	$427	71
525 W 85th St	0.40mi	13/7.0	4,209	1mo	$1,550,000	$368	68
604 E 85th	0.42mi	—/—	3,128	2mo	$825,000	$264	66
213 E 87th Pl	0.50mi	8/4.0	2,723	1mo	$739,000	$271	63
210 85th Pl	0.51mi	3/2.0	1,006	2mo	$500,000	$497	62
640 E 74th	0.61mi	5/3.0	2,078	0mo	$735,000	$354	59
431 W 78th	0.72mi	7/4.0	2,415	0mo	$900,000	$373	54
233 W 88th St	0.71mi	4/3.0	1,907	2mo	$520,000	$273	53
150 E 70th St	0.73mi	4/3.0	1,431	2mo	$465,000	$325	52

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 · 0.11% rent growth · sell at horizon

5-year hold

• IRR: 52.0%
• Equity multiple: 3.18×
• Total profit: $241,595
• Equity at exit: $58,896

10-year hold

• IRR: 56.2%
• Equity multiple: 5.80×
• Total profit: $530,565
• Equity at exit: $34,152

Cash invested: $110,600 (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 90003

• Rents YoY: 0.1%
• Active inventory: 161
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $10,093 high
• Mortgage (P&I): −$2,071
• Tax est. 1.5%: −$494 /mo · $5,925/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,120
• Net cashflow: $5,244

Break-even live

Break-even rent $3,455

Max offer price $395,000

Occupancy floor 43%

Sensitivity live

Price	-10% $5,517	-5% $5,380	+0% $5,244	+5% $5,107	+10% $4,971
Rent	-10% $4,446	-5% $4,845	+0% $5,244	+5% $5,642	+10% $6,041
Rate	-1.0pp $5,443	-0.5pp $5,344	base $5,244	+0.5pp $5,141	+1.0pp $5,037

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$10,092
Total (4 units)			$10,093

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
237 E 81st St Los Angeles, CA	3.0	2.0	—	$3,500	—	44d	1	0.04mi
211 E 81st St Unit D Los Angeles, CA	2.0	1.0	—	$2,295	—	25d	1	0.08mi
239 E 80th St Los Angeles, CA	2.0	1.0	—	$2,040	—	25d	1	0.09mi
252 E 79th St Los Angeles, CA	2.0	1.0	650	$2,887	$4.44	25d	1	0.12mi
7811 San Pedro St Unit 4 Los Angeles, CA	3.0	1.0	800	$3,100	$3.88	44d	1	0.17mi
7843 Towne Ave Unit 19 Los Angeles, CA	2.0	1.0	—	$2,325	—	25d	1	0.17mi
159 E 83rd St Unit 159 Los Angeles, CA	3.0	1.0	—	$3,200	—	19d	1	0.17mi
7833 Towne Ave Los Angeles, CA	2.0	1.0	700	$2,325	$3.32	25d	1	0.18mi
202 E 78th St Los Angeles, CA	1.0	1.0	550	$2,250	$4.09	25d	1	0.19mi
8316 S San Pedro St Los Angeles, CA	3.0	1.0	—	$2,495	—	3d	1	0.20mi
227 1/2 E 78th St Unit 227 1/2 Los Angeles, CA	2.0	1.0	—	$2,289	—	25d	1	0.21mi
227 E 84th St Los Angeles, CA	1.0	1.0	378	$1,800	$4.76	25d	1	0.21mi
7924 S Main St Los Angeles, CA	2.0	1.0	580	$2,265	$3.91	18d	1	0.23mi
7924 S Main St Los Angeles, CA	2.0	1.0	—	$2,165	—	21d	1	0.23mi
240 E 84th St Los Angeles, CA	2.0	1.0	2039	$1,950	$0.96	25d	1	0.23mi
263 E 84th Pl Los Angeles, CA	3.0	1.0	1450	$2,950	$2.03	15d	1	0.27mi
7655 San Pedro St Unit 1 Los Angeles, CA	1.0	1.0	—	$2,289	—	25d	1	0.29mi
7655 San Pedro St Unit 2 Los Angeles, CA	2.0	1.0	—	$2,887	—	25d	1	0.29mi
607 E 81st St Apt 4 Los Angeles, CA	2.0	1.0	—	$2,000	—	25d	1	0.30mi
138 W 82nd St Los Angeles, CA	2.0	1.0	—	$2,100	—	25d	1	0.31mi
7688 Main St Los Angeles, CA	3.0	2.0	1100	$3,200	$2.91	25d	1	0.33mi
229 E 85th St Unit 231 12 Los Angeles, CA	3.0	1.0	950	$2,750	$2.89	44d	1	0.33mi
8418 Main St Unit 8418 Los Angeles, CA	3.0	3.0	977	$2,695	$2.76	44d	1	0.33mi
107 W 84th Pl Los Angeles, CA	2.0	1.0	800	$2,395	$2.99	44d	1	0.34mi
118 E 84th Pl Los Angeles, CA	3.0	1.0	—	$2,000	—	3d	1	0.35mi
7718 Avalon Blvd Unit 7718-5 Los Angeles, CA	2.0	1.0	613	$2,095	$3.42	25d	1	0.35mi
632 E 82nd St Los Angeles, CA	1.0	1.0	—	$1,554	—	2d	1	0.37mi
219 E 76th St Los Angeles, CA	2.0	1.0	805	$2,395	$2.98	44d	1	0.39mi
231 W 81st St Unit 231 Los Angeles, CA	3.0	2.0	—	$2,999	—	19d	1	0.41mi
8460 Avalon Blvd Unit 06 Los Angeles, CA	2.0	1.0	—	$2,300	—	22d	1	0.43mi
212 W 84th St Los Angeles, CA	2.0	1.0	990	$3,100	$3.13	44d	1	0.43mi
8464 S Avalon Blvd Apt 2 Los Angeles, CA	2.0	1.0	—	$2,350	—	0d	1	0.43mi
8464 Avalon Blvd Unit 6 Los Angeles, CA	2.0	1.0	680	$2,350	$3.46	44d	1	0.43mi
8464 Avalon Blvd Unit 03 Los Angeles, CA	2.0	1.0	—	$2,300	—	45d	1	0.43mi
239 W 80th St Unit 241 Los Angeles, CA	1.0	1.0	—	$2,289	—	44d	1	0.44mi
719 E 79th St Unit 1 Los Angeles, CA	3.0	1.0	—	$3,299	—	44d	1	0.46mi
734 E 80th St Unit 736 Los Angeles, CA	2.0	1.0	—	$2,450	—	44d	1	0.47mi
735 E 82nd St Los Angeles, CA	3.0	2.0	913	$3,400	$3.72	44d	1	0.48mi
7418 S Main St #6 Los Angeles, CA	2.0	1.0	450	$1,999	$4.44	8d	1	0.49mi
8027 S Broadway Los Angeles, CA	2.0	1.0	—	$1,800	—	17d	1	0.50mi

Listing history 38 events

1. 2026-06-18
   days on market $395,000 Active 35 DOM
2. 2026-06-17
   days on market $395,000 Active 34 DOM
3. 2026-06-16
   days on market $395,000 Active 33 DOM
4. 2026-06-15
   days on market $395,000 Active 32 DOM
5. 2026-06-13
   pricedays on market $395,000 Active 30 DOM
6. 2026-06-09
   days on market $464,000 Active 26 DOM
7. 2026-06-08
   days on market $464,000 Active 25 DOM
8. 2026-06-07
   pricedays on market $464,000 Active 24 DOM
9. 2026-06-04
   days on market $489,000 Active 21 DOM
10. 2026-06-03
    days on market $489,000 Active 20 DOM
11. 2026-06-02
    days on market $489,000 Active 19 DOM
12. 2026-06-01
    days on market $489,000 Active 18 DOM
13. 2026-05-31
    days on market $489,000 Active 17 DOM
14. 2026-05-14
    listed $489,000 Active
15. 2025-02-27
    historical
16. 2025-01-06
    price $475,000
17. 2024-11-28
    listed $525,000 Active
18. 2022-10-15
    historical
19. 2022-10-10
    status Active
20. 2022-10-10
    price $549,999
21. 2022-05-22
    status Pending Sale
22. 2022-04-26
    status Pending Sale
23. 2022-04-25
    historical
24. 2022-04-15
    listed $399,999 Active
25. 2021-07-29
    listed Active
26. 2020-10-30
    historical
27. 2020-10-22
    price $465,000
28. 2020-09-03
    listed $474,999 Active
29. 2020-06-30
    historical
30. 2020-05-12
    price $495,000
31. 2020-04-09
    price $499,000
32. 2020-03-15
    listed $550,000 Active
33. 2019-12-27
    soldstatus $350,000 Sold
34. 2019-12-09
    status Pending
35. 2019-09-24
    price $379,000
36. 2019-08-22
    price $397,000
37. 2019-07-31
    price $429,000
38. 2019-07-01
    listed $475,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $121,116
• − Mortgage interest: −$22,126
• − Property taxes: −$5,925
• − Insurance: −$1,975
• − Repairs & maintenance: −$9,689
• − Management: −$9,689
• − Depreciation: −$11,491
• Taxable income: $60,220
• Est. tax owed @ 24.0%: −$14,453
• After-tax cash flow: $48,472/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): 70,065
• Household income: $56,030
• Rent vs Own: 72.8% rent · 27.2% own
• Severe rent burden: 4550.0

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: Predominantly Hispanic (81%)
• Race & ethnicity: Hispanic / Latino 81% Two or more races 20% Black 16% Native American 1%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: British 1%
• Foreign-born: 40% · Canada
• Languages at home: 24% English-only · Spanish 75%

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: ▼ -785.95%
• Current HPI: 512.5667
• Rent YoY: ▲ 0.11%
• 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

+2.9% since first listed

25 events — show timeline

• 2026-05-14 Listed $489,000 TheMLS
• 2025-02-27 Listing Removed — CRMLS
• 2025-01-06 Price Changed $475,000 CRMLS
• 2024-11-28 Listed $525,000 CRMLS
• 2022-10-15 Listing Removed — CRMLS
• 2022-10-10 Relisted — CRMLS
• 2022-10-10 Price Changed $549,999 CRMLS
• 2022-05-22 Pending — CRMLS
• 2022-04-26 Pending — CRMLS
• 2022-04-25 Listing Removed — CRMLS
• 2022-04-15 Listed $399,999 CRMLS
• 2021-07-29 Listed — TheMLS
• 2020-10-30 Listing Removed — CRMLS
• 2020-10-22 Price Changed $465,000 CRMLS
• 2020-09-03 Listed $474,999 CRMLS
• 2020-06-30 Listing Removed — CRMLS
• 2020-05-12 Price Changed $495,000 CRMLS
• 2020-04-09 Price Changed $499,000 CRMLS
• 2020-03-15 Listed $550,000 CRMLS
• 2019-12-27 Sold (MLS) $350,000 TheMLS
• 2019-12-09 Pending — TheMLS
• 2019-09-24 Price Changed $379,000 TheMLS
• 2019-08-22 Price Changed $397,000 TheMLS
• 2019-07-31 Price Changed $429,000 TheMLS
• 2019-07-01 Listed $475,000 TheMLS