235 E 87th St · Los Angeles, CA 90003

$1,135,000

12 bd · 6.0 ba · 4,320 sqft · MultiFamily public records · 119 Days on market

Built 1965 7,593 sqft lot $263/sqft · 10% above area Est $1029k · 10% over

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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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• ARV discount +2.9/15.0
• 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 (5+ Unit). Listing-text estimate: 6 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

Excellent investment opportunity in the highly desirable Metropolitan South area of Los Angeles! This 6-unit apartment complex features six spacious 2-bedroom, 1-bathroom units, with three units located downstairs and three units upstairs, offering a well-balanced and functional layout. The property provides ample on-site outdoor parking for up to 12 vehicles, a rare and valuable amenity for the area. An exterior electric gate adds an extra layer of security and privacy for tenants. All units are currently tenant-occupied, offering immediate rental income for the next owner. Conveniently located near the 110 Freeway, the property offers easy access for commuters and is just minutes from a wide variety of retail stores, restaurants, and everyday conveniences. This centrally located asset presents strong long-term upside potential in one of Los Angeles’ steadily growing rental markets. A fantastic opportunity to own a well-positioned multi-unit property in the heart of Los Angeles.

Key facts

• 7,593 sq ft lot
• Built 1965
• Listed 119 days

Tags

• 6 UNIT APARTMENT COMPLEX
• AMPLE ON SITE OUTDOOR PARKING
• EXTERIOR ELECTRIC GATE
• EASY ACCESS FOR COMMUTERS
• CENTRALLY LOCATED ASSET

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $1.14M.

Deal economics

• At list price, monthly cash flow is $4k ($46k/yr) — positive. Per door: $640/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.14M).
• Recommended offer: $1.03M (9.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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 flat; 161 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $13,719/mo this rent would consume 294% 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 $8k of loan paydown is wiped out by about $34k 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 119 days — a 9% lower offer ($1.03M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y ago; this cycle's ask has dropped $165k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $250k; list at $1.14M implies a 354% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $1,032,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 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 1965 — 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: 1.21% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.50%
• DSCR: 1.65
• GRM: 6.9

CMA / ARV

• ARV (median comp): $1,028,884
• List price: $1,135,000
• Delta: 10.31%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
525 W 85th St	0.19mi	13/7.0 (+1)	4,209 (-3%)	1mo	$1,550,000	$368	77
735 E 82nd St	0.63mi	13/8.0 (+1)	4,537 (+5%)	17mo	$1,620,000	$357	35

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $21,606
• Equity at exit: $169,232

10-year hold

• IRR: 8.6%
• Equity multiple: 1.57×
• Total profit: $182,351
• Equity at exit: $98,134

Cash invested: $317,800 (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: 41.4×

Monthly cashflow live

• Estimated rent: $13,719 high
• Mortgage (P&I): −$5,952
• Tax from tax record: −$572 /mo · $6,869/yr
• Insurance: −$473
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,881
• Net cashflow: $3,841

Break-even live

Break-even rent $8,857

Max offer price $1,135,000

Occupancy floor 67%

Sensitivity live

Price	-10% $4,483	-5% $4,162	+0% $3,841	+5% $3,519	+10% $3,198
Rent	-10% $2,757	-5% $3,299	+0% $3,841	+5% $4,383	+10% $4,924
Rate	-1.0pp $4,412	-0.5pp $4,129	base $3,841	+0.5pp $3,547	+1.0pp $3,247

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$13,722
Total (6 units)			$13,719

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: $283,750
• Closing costs: $34,050
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $1,135,000 Active 119 DOM
2. 2026-06-18
   days on market $1,135,000 Active 116 DOM
3. 2026-06-17
   days on market $1,135,000 Active 115 DOM
4. 2026-06-16
   days on market $1,135,000 Active 114 DOM
5. 2026-06-15
   days on market $1,135,000 Active 113 DOM
6. 2026-06-13
   days on market $1,135,000 Active 111 DOM
7. 2026-06-09
   days on market $1,135,000 Active 107 DOM
8. 2026-06-08
   days on market $1,135,000 Active 106 DOM
9. 2026-06-07
   days on market $1,135,000 Active 105 DOM
10. 2026-06-04
    days on market $1,135,000 Active 102 DOM
11. 2026-06-03
    days on market $1,135,000 Active 101 DOM
12. 2026-06-02
    days on market $1,135,000 Active 100 DOM
13. 2026-06-01
    days on market $1,135,000 Active 99 DOM
14. 2026-05-31
    days on market $1,135,000 Active 98 DOM
15. 2026-05-05
    price $1,135,000 1000-char remark

    Show marketing remark (1000 chars)

    Excellent investment opportunity in the highly desirable Metropolitan South area of Los Angeles! This 6-unit apartment complex features six spacious 2-bedroom, 1-bathroom units, with three units located downstairs and three units upstairs, offering a well-balanced and functional layout. The property provides ample on-site outdoor parking for up to 12 vehicles, a rare and valuable amenity for the area. An exterior electric gate adds an extra layer of security and privacy for tenants. All units are currently tenant-occupied, offering immediate rental income for the next owner. Conveniently located near the 110 Freeway, the property offers easy access for commuters and is just minutes from a wide variety of retail stores, restaurants, and everyday conveniences. This centrally located asset presents strong long-term upside potential in one of Los Angeles’ steadily growing rental markets. A fantastic opportunity to own a well-positioned multi-unit property in the heart of Los Angeles.

16. 2026-04-20
    price $1,199,000 1000-char remark

    Show marketing remark (1000 chars)

    Excellent investment opportunity in the highly desirable Metropolitan South area of Los Angeles! This 6-unit apartment complex features six spacious 2-bedroom, 1-bathroom units, with three units located downstairs and three units upstairs, offering a well-balanced and functional layout. The property provides ample on-site outdoor parking for up to 12 vehicles, a rare and valuable amenity for the area. An exterior electric gate adds an extra layer of security and privacy for tenants. All units are currently tenant-occupied, offering immediate rental income for the next owner. Conveniently located near the 110 Freeway, the property offers easy access for commuters and is just minutes from a wide variety of retail stores, restaurants, and everyday conveniences. This centrally located asset presents strong long-term upside potential in one of Los Angeles’ steadily growing rental markets. A fantastic opportunity to own a well-positioned multi-unit property in the heart of Los Angeles.

17. 2026-03-20
    price $1,250,000 1000-char remark

    Show marketing remark (1000 chars)

    Excellent investment opportunity in the highly desirable Metropolitan South area of Los Angeles! This 6-unit apartment complex features six spacious 2-bedroom, 1-bathroom units, with three units located downstairs and three units upstairs, offering a well-balanced and functional layout. The property provides ample on-site outdoor parking for up to 12 vehicles, a rare and valuable amenity for the area. An exterior electric gate adds an extra layer of security and privacy for tenants. All units are currently tenant-occupied, offering immediate rental income for the next owner. Conveniently located near the 110 Freeway, the property offers easy access for commuters and is just minutes from a wide variety of retail stores, restaurants, and everyday conveniences. This centrally located asset presents strong long-term upside potential in one of Los Angeles’ steadily growing rental markets. A fantastic opportunity to own a well-positioned multi-unit property in the heart of Los Angeles.

18. 2026-02-22
    listed $1,299,950 Active 1000-char remark

    Show marketing remark (1000 chars)

    Excellent investment opportunity in the highly desirable Metropolitan South area of Los Angeles! This 6-unit apartment complex features six spacious 2-bedroom, 1-bathroom units, with three units located downstairs and three units upstairs, offering a well-balanced and functional layout. The property provides ample on-site outdoor parking for up to 12 vehicles, a rare and valuable amenity for the area. An exterior electric gate adds an extra layer of security and privacy for tenants. All units are currently tenant-occupied, offering immediate rental income for the next owner. Conveniently located near the 110 Freeway, the property offers easy access for commuters and is just minutes from a wide variety of retail stores, restaurants, and everyday conveniences. This centrally located asset presents strong long-term upside potential in one of Los Angeles’ steadily growing rental markets. A fantastic opportunity to own a well-positioned multi-unit property in the heart of Los Angeles.

19. 2000-02-15
    historical
20. 1999-08-15
    listed $220,665
21. 1989-07-03
    soldstatus $250,000
22. 1983-06-01
    soldstatus $135,000

ⓘ 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: $6,869 · $572/mo
• Projected year-2 tax: $8,626 · $719/mo
• Expected delta: +$1,757/yr (+$146/mo · 25.6%)

ⓘ 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 5/10 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: $164,628
• − Mortgage interest: −$63,578
• − Property taxes: −$6,869
• − Insurance: −$5,675
• − Repairs & maintenance: −$13,170
• − Management: −$13,170
• − Depreciation: −$33,018
• Taxable income: $29,148
• Est. tax owed @ 24.0%: −$6,995
• After-tax cash flow: $39,092/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

+740.7% since first listed

8 events — show timeline

• 2026-05-05 Price Changed $1,135,000 CRMLS
• 2026-04-20 Price Changed $1,199,000 CRMLS
• 2026-03-20 Price Changed $1,250,000 CRMLS
• 2026-02-22 Listed $1,299,950 CRMLS
• 2000-02-15 Listing Removed — CRMLS
• 1999-08-15 Listed $220,665 CRMLS
• 1989-07-03 Sold (Public Records) $250,000 Public Records
• 1983-06-01 Sold (Public Records) $135,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $6,869 · +2.3% YoY. Source: county tax records.