936 N Curson Ave · West Hollywood, CA 90046

$2,299,000

96 bd · 64.0 ba · 6,712 sqft · MultiFamily · 7 Days on market

Built 1956 Good condition 6,615 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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 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

Located in one of Los Angeles' most desirable rental corridors, 936 N Curson Ave presents a rare opportunity to acquire a well-positioned 8-unit multifamily asset just moments from West Hollywood, Melrose Avenue, and Beverly Grove. Priced at a 5.0% cap rate, the property offers strong in-place income, long-term upside potential, and a premier central location. All eight units are fully occupied and providing stable cash flow. Additionally, two units can be delivered vacant, creating immediate upside potential for an owner-user or investor seeking market-rate leasing opportunities. Situated on a quiet street with excellent walkability to some of LA's best dining, retail, and entertainment de

Key facts

• Onsite parking
• Stable cash flow
• Fully occupied

Tags

• 8 UNIT MULTIFAMILY ASSET
• FULLY OCCUPIED
• STABLE CASH FLOW
• IMMEDIATE UPSIDE POTENTIAL
• EXCELLENT WALKABILITY
• ONSITE PARKING

Property features AI

Finance

• Other: Property is rent controlled (disclosure)
• Financial info: Actual annual gross income reported at $178,068; Net operating income reported at $115,730; Total annual expenses reported at $62,338.50 (includes insurance, water, gardener, maintenance, taxes); Cap rate listed at 5.0; Gross rent multiplier approximately 12.91; Listing terms: Cash to new loan; Owner pays water and gardener; tenants pay gas and electric; Laundry equipment owned by building
• HOA & community: Eight-unit complex; No tennis court or athletic court

Exterior

• Parking: Total of 7 parking spaces with 5 covered spaces and 2 open spaces
• Utilities: Water meter on property; Sewer connection in street; Tenant pays gas and electric; owner pays water and gardener
• Home design: Residential income property; Two levels; Faces west
• Construction: Stucco construction; Shingle/composition roof
• Exterior features: Stucco exterior; Composition/shingle roof; No additional exterior structures

Interior

• Kitchen: Gas cooking; Range/oven; Refrigerator; Freezer
• Bedrooms: Mix of 1- and 2-bedroom units (eight units total)
• Flooring: Laminate floors
• Bathrooms: Multiple 1-bath units
• Heating & cooling: Wall heating; Wall-mounted cooling units
• Interior features: Tile counters; Ceiling fans
• Laundry & utility: Communal laundry room (building-owned machines; two tenant-owned washers excluded); Washer and dryer listed in equipment; Central gas water heater

What this means for you Summary

Snapshot

• This is a 8 × 12-bed/8.0-bath units multifamily listed at $2.30M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $8k ($99k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($31k rent vs $2.30M).
• Cap rate 10.6% vs local median 1.5% in West Hollywood — 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 70/100 on livability (#239 in CA) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: health & safety C-, crime F, cost of living 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 (-1.5%/yr); 334 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 $30,524/mo this rent would consume 381% of the median local household income ($96k/yr) (locally 5563% 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 $16k of loan paydown is wiped out by about $69k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

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 $2,299,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 1.33% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.33%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

No comps found within radius.

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: $62,394
• Equity at exit: $342,788

10-year hold

• IRR: 9.0%
• Equity multiple: 1.60×
• Total profit: $385,134
• Equity at exit: $198,776

Cash invested: $643,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90046

• Rents YoY: -1.5%
• Active inventory: 334
• Price-to-rent: 50.2×

Monthly cashflow live

• Estimated rent: $30,524 medium
• Mortgage (P&I): −$12,056
• Tax est. 1.5%: −$2,874 /mo · $34,485/yr
• Insurance: −$958
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,410
• Net cashflow: $8,226

Break-even live

Break-even rent $20,111

Max offer price $2,299,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 8× units	12	8	$30,528
Total (8 units)			$30,524

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: $574,750
• Closing costs: $68,970
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $2,299,000 Active 7 DOM
2. 2026-06-17
   days on market $2,299,000 Active 6 DOM
3. 2026-06-16
   days on market $2,299,000 Active 5 DOM
4. 2026-06-15
   days on market $2,299,000 Active 4 DOM
5. 2026-06-13
   days on marketlisting id $2,299,000 Active 2 DOM
6. 2026-05-19
   listed $2,299,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 8 d/yr ≥88°F today · 23 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: $366,288
• − Mortgage interest: −$128,780
• − Property taxes: −$34,485
• − Insurance: −$11,495
• − Repairs & maintenance: −$29,303
• − Management: −$29,303
• − Depreciation: −$66,880
• Taxable income: $66,042
• Est. tax owed @ 24.0%: −$15,850
• After-tax cash flow: $82,863/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This 8-unit multifamily property is in good condition with cosmetic updates needed. It offers strong in-place income and a prime location.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathroom fixtures — Dated appearance

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Rental Replace dated bathroom fixtures — Modern fixtures improve tenant satisfaction and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathroom fixtures · Dated appearance	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Rental Replace dated bathroom fixtures — Modern fixtures improve tenant satisfaction and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — West Hollywood

• Score: 70/100
• State rank: #239
• US rank: #7852

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B+ Housing C Health & safety C- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Hollywood, CA
• County: Los Angeles County · 9,444,647 people
• City population: 20,961
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 48,296
• Household income: $96,250
• Rent vs Own: 77.8% rent · 22.2% own
• Severe rent burden: 5563.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 16% Two or more races 13% Asian 7% Black 5%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Scotch-Irish 6% Lithuanian 4% Romanian 4%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 71% English-only · Spanish 9% Russian/Polish/Slavic 8% Other Indo-European 3%

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: ▼ -571.28%
• Current HPI: 365.8036
• Rent YoY: ▼ -1.48%
• 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

1 event — show timeline

• 2026-05-19 Listed $2,299,000 TheMLS