8400 De Longpre Ave #104

West Hollywood, CA 90069

$619,500D

2 bd · 2.0 ba · 1,110 sqft · Built 1973 · Condo · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,081/mo
• Mortgage (P&I): −$3,249
• Tax + insurance: −$517
• HOA: −$625
• Vac / Maint / Mgmt: −$857
• Net cashflow: $-1,166/mo
• Annual: $-13,994/yr
• Cap rate: 4.03%
• Cash-on-cash: -8.07%
• DSCR: 0.64
• 1% rule: 0.66%
• Cash to close: $173,460

Investor read

• This is a 2-bed/2.0-bath condo listed at $620k.
• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $413k (33.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $408k (34.1% below list).
• It's been on market 33 days — a 3% lower offer ($601k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $408k (34.1% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($4k loan paydown + $5k appreciation (0.8% local appreciation)).
• 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 (-0.5%/yr); 379 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $105k; list at $620k implies a 490% gain — meaningful room to come down on a strong offer.
• By year 5, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.
• Cap rate 4.0% 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.
• At $4,081/mo this rent would consume 45% of the median local household income ($108k/yr) (locally 2412% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?