2119 S Union Ave · Los Angeles, CA 90007

$1,525,000

4 bd · 4.0 ba · 5,028 sqft · MultiFamily public records · 375 Days on market

Built 1912 6,999 sqft lot $303/sqft · 17% below area Est $2447k · 38% 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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.0/10.0
• Rent growth +4.0/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 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: 6 units. estimate disagrees with records

Listing remarks MLS

CASH COW! An exceptional opportunity to own a 6-unit private student housing property near the University of Southern California. Located within USC's Department of Public Safety Patrol Zone and Campus Cruiser area, this asset offers immediate income with a 6.9% CAP Rate. The property includes a renovated 4-unit building built in 1912 with one fully remodeled unit featuring new plumbing, HVAC, electrical, kitchen, baths, flooring, lighting, doors, windows, and upgraded main water line and electric panel. In addition, there is a brand new 2-story ADU built in 2024 with two 3-bedroom, 3-bathroom townhome-style units designed for student living with modern finishes and efficient systems. The property offers potential for up to 30 beds with double occupancy layouts and is within walking distance to USC Campus, Metro Line, USC Village, and Exposition Park, property located within DPS patrol zone and ride share program. the property is surrounded by strong student rental demand! This investment combines strong existing income with major upside through student unit conversions.

Key facts

• New plumbing
• New kitchen
• New hvac

Tags

• RENOVATED 4-UNIT BUILDING
• FULLY REMODELED UNIT
• NEW PLUMBING
• NEW HVAC
• NEW ELECTRICAL
• NEW KITCHEN

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.8-bath units multifamily listed at $1.52M.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $412/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.52M).
• Recommended offer: $1.34M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 rising fast (+5.9%/yr); 82 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $15,284/mo this rent would consume 518% of the median local household income ($35k/yr) (locally 4179% 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 $11k of loan paydown is wiped out by about $46k 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 + 5.9% rent growth), your $427k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 375 days — a 12% lower offer ($1.34M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $100k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $875k; list at $1.52M implies a 74% 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 $1,342,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 375 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.00% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.96%
• DSCR: 1.31
• GRM: 8.3

CMA / ARV

• ARV (median comp): $2,446,683
• List price: $1,525,000
• Delta: -37.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.88% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-44,267
• Equity at exit: $227,382

10-year hold

• IRR: 9.8%
• Equity multiple: 1.85×
• Total profit: $361,382
• Equity at exit: $131,854

Cash invested: $427,000 (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 90007

• Home prices YoY: -32.8%
• Rents YoY: 5.9%
• Active inventory: 82
• Price-to-rent: 49.9×

Monthly cashflow live

• Estimated rent: $15,284 high
• Mortgage (P&I): −$7,997
• Tax from tax record: −$967 /mo · $11,601/yr
• Insurance: −$635
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,210
• Net cashflow: $2,475

Break-even live

Break-even rent $12,151

Max offer price $1,525,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1.8	$15,282
Total (6 units)			$15,284

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: $381,250
• Closing costs: $45,750
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1347 Valencia St Unit 1347 Los Angeles, CA	4.0	8.0	3724	$2,499	$0.67	43d	1	0.61mi
1200 S Figueroa St Los Angeles, CA	1.0–3.0	1.0–4.0	2305	$23,215	$10.07	1d	32	1.02mi
2754 Kenwood Ave Los Angeles, CA	5.0	2.5	3502	$6,795	$1.94	43d	1	1.02mi
900 W Olympic Blvd Los Angeles, CA	1.0–3.0	2.0–4.0	2620	$25,000	$9.54	5d	9	1.13mi
900 W Olympic Blvd Los Angeles, CA	1.0–3.0	2.0–4.0	2625	$25,000	$9.52	24d	7	1.13mi
215 E 29th St Unit 1 Los Angeles, CA	4.0	4.0	4000	$750	$0.19	24d	1	1.28mi
225 E 30th St Unit 225 1/2 Los Angeles, CA	3.0	2.0	4346	$3,100	$0.71	43d	1	1.32mi
230 W Olympic Blvd Los Angeles, CA	1.0–5.0	1.0–6.0	2538	$22,684	$8.94	1d	30	1.46mi
145 E 36th St Unit 145 Los Angeles, CA	5.0	3.0	4500	$5,400	$1.20	24d	1	1.48mi

Listing history 24 events

1. 2026-06-18
   days on market $1,525,000 Active 375 DOM
2. 2026-06-17
   days on market $1,525,000 Active 374 DOM
3. 2026-06-16
   days on market $1,525,000 Active 373 DOM
4. 2026-06-15
   days on market $1,525,000 Active 372 DOM
5. 2026-06-13
   days on market $1,525,000 Active 370 DOM
6. 2026-06-09
   days on market $1,525,000 Active 366 DOM
7. 2026-06-08
   days on market $1,525,000 Active 365 DOM
8. 2026-06-07
   days on market $1,525,000 Active 364 DOM
9. 2026-06-04
   days on market $1,525,000 Active 361 DOM
10. 2026-06-03
    days on market $1,525,000 Active 360 DOM
11. 2026-06-02
    days on market $1,525,000 Active 359 DOM
12. 2026-06-01
    days on market $1,525,000 Active 358 DOM
13. 2026-05-31
    days on market $1,525,000 Active 357 DOM
14. 2026-02-06
    status Active 1087-char remark

    Show marketing remark (1087 chars)

    CASH COW! An exceptional opportunity to own a 6-unit private student housing property near the University of Southern California. Located within USC's Department of Public Safety Patrol Zone and Campus Cruiser area, this asset offers immediate income with a 6.9% CAP Rate. The property includes a renovated 4-unit building built in 1912 with one fully remodeled unit featuring new plumbing, HVAC, electrical, kitchen, baths, flooring, lighting, doors, windows, and upgraded main water line and electric panel. In addition, there is a brand new 2-story ADU built in 2024 with two 3-bedroom, 3-bathroom townhome-style units designed for student living with modern finishes and efficient systems. The property offers potential for up to 30 beds with double occupancy layouts and is within walking distance to USC Campus, Metro Line, USC Village, and Exposition Park, property located within DPS patrol zone and ride share program. the property is surrounded by strong student rental demand! This investment combines strong existing income with major upside through student unit conversions.

15. 2025-06-01
    listed $1,625,000 Active 1087-char remark

    Show marketing remark (1087 chars)

    CASH COW! An exceptional opportunity to own a 6-unit private student housing property near the University of Southern California. Located within USC's Department of Public Safety Patrol Zone and Campus Cruiser area, this asset offers immediate income with a 6.9% CAP Rate. The property includes a renovated 4-unit building built in 1912 with one fully remodeled unit featuring new plumbing, HVAC, electrical, kitchen, baths, flooring, lighting, doors, windows, and upgraded main water line and electric panel. In addition, there is a brand new 2-story ADU built in 2024 with two 3-bedroom, 3-bathroom townhome-style units designed for student living with modern finishes and efficient systems. The property offers potential for up to 30 beds with double occupancy layouts and is within walking distance to USC Campus, Metro Line, USC Village, and Exposition Park, property located within DPS patrol zone and ride share program. the property is surrounded by strong student rental demand! This investment combines strong existing income with major upside through student unit conversions.

16. 2025-01-18
    historical
17. 2023-02-15
    soldstatus $875,000 Closed Sale
18. 2023-02-15
    soldstatus $875,000
19. 2023-01-26
    status Pending Sale
20. 2023-01-25
    listed $875,000 Active
21. 2022-09-13
    historical
22. 2022-07-28
    listed $1,065,000 Active
23. 2022-04-03
    listed $1,050,000
24. 1989-04-14
    soldstatus $185,000

ⓘ 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: $11,601 · $967/mo
• Projected year-2 tax: $11,601 · $967/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥90°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: $183,408
• − Mortgage interest: −$85,424
• − Property taxes: −$11,601
• − Insurance: −$7,625
• − Repairs & maintenance: −$14,673
• − Management: −$14,673
• − Depreciation: −$44,364
• Taxable income: $5,050
• Est. tax owed @ 24.0%: −$1,212
• After-tax cash flow: $28,487/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): 38,715
• Household income: $35,378
• Rent vs Own: 90.2% rent · 9.8% own
• Severe rent burden: 4179.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 53% Asian 18% White 17% Two or more races 14% Black 8% Native American 1%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Romanian 1% Scotch-Irish 1% Iranian 1%
• Foreign-born: 41% · Canada, China, South Korea
• Languages at home: 37% English-only · Spanish 45% Chinese 7% Other Indo-European 5%

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: ▼ -225.40%
• Current HPI: 460.9539
• Rent YoY: ▲ 5.88%
• 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

+778.4% since first listed

11 events — show timeline

• 2026-02-06 Relisted — TheMLS
• 2025-06-01 Listed $1,625,000 TheMLS
• 2025-01-18 Listing Removed — SDMLS
• 2023-02-15 Sold (Public Records) $875,000 Public Records
• 2023-02-15 Sold (MLS) $875,000 CRMLS
• 2023-01-26 Pending — CRMLS
• 2023-01-25 Listed $875,000 CRMLS
• 2022-09-13 Listing Removed — SDMLS
• 2022-07-28 Listed $1,065,000 SDMLS
• 2022-04-03 Listed $1,050,000 SDMLS
• 1989-04-14 Sold (Public Records) $185,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $11,601 · +1.6% YoY. Source: county tax records.