9234 Graham Ave · Los Angeles, CA 90002

$1,650,000

8 bd · 4.0 ba · 2,352 sqft · MultiFamily public records · 29 Days on market

Built 1940 9,983 sqft lot

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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 +24.5/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• 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 (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

Excellent multifamily investment opportunity in Los Angeles. This 8-unit property offers strong in-place income with additional upside through lease-up of the current vacancy. The property is currently generating approximately $173,808 in annual gross rental income with one vacant unit, producing an actual GRM of 9.49.Once fully occupied, projected annual gross rental income increases to approximately $199,000, bringing the projected GRM to approximately 8.29. This creates a compelling value-add opportunity for an investor seeking immediate cash flow with clear upside. Nearby transit includes access to the Metro A Line, including the Firestone Station on Graham Avenue and the 103rd Street/W

Key facts

• Metro a line
• 8 unit property
• Nearby transit

Tags

• 8 UNIT PROPERTY
• STRONG IN PLACE INCOME
• ANNUAL GROSS RENTAL INCOME
• VALUE ADD OPPORTUNITY
• NEARBY TRANSIT
• METRO A LINE

Property features AI

Finance

• Other: Two buildings on the property
• Financial info: Actual annual gross rent of $172,688; Gross operating income $172,688; Net operating income $160,000; Total annual expenses $12,688; Gross rent multiplier 9.55; Vacancy rate 1%; Actual income reported
• HOA & community: Eight units in the complex

Exterior

• Parking: Gated parking; Twelve total parking spaces
• Home design: Residential income property; Building with two levels
• Exterior features: No additional structures on the property; Zoned LAR2

Interior

• Bedrooms: Seven 2-bedroom units; One 2-bedroom unit
• Bathrooms: Seven 1-bath units; One 1-bath unit
• Heating & cooling: Central heating; Window-unit cooling
• Interior features: Attached common walls (multi-unit); Two-level building with two total floors

What this means for you Summary

Snapshot

• This is a 8 × 2-bed/1.0-bath units multifamily listed at $1.65M.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $423/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.65M).
• Recommended offer: $1.63M (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: 73 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $18,137/mo this rent would consume 369% of the median local household income ($59k/yr) (locally 2997% 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 $50k 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 29 days — a 2% lower offer ($1.63M) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 27y 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 $1.40M; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,625,250 (1.5% below list)

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 1940 — 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 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?
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: 1.10% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.79%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $858,480
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9704 Graham Ave	0.31mi	7/3.0 (-1)	2,446 (+4%)	10mo	$810,000	$331	61
1615 87th Pl E	0.45mi	8/4.0	2,237 (-5%)	18mo	$790,000	$353	56
9007 Beach St	0.16mi	7/5.0 (-1)	2,486 (+6%)	23mo	$1,000,000	$402	55
9802 Graham Ave	0.35mi	9/4.0 (+1)	2,656 (+13%)	5mo	$970,000	$365	53

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-51,818
• Equity at exit: $246,020

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $232,414
• Equity at exit: $142,662

Cash invested: $462,000 (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 90002

• Active inventory: 73
• Price-to-rent: 60.7×

Monthly cashflow live

• Estimated rent: $18,137 medium
• Mortgage (P&I): −$8,653
• Tax from tax record: −$1,603 /mo · $19,241/yr
• Insurance: −$688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,809
• Net cashflow: $3,385

Break-even live

Break-even rent $13,853

Max offer price $1,650,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$18,136
Total (8 units)			$18,137

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: $412,500
• Closing costs: $49,500
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $1,650,000 Active 29 DOM
2. 2026-06-17
   days on market $1,650,000 Active 28 DOM
3. 2026-06-16
   days on market $1,650,000 Active 27 DOM
4. 2026-06-15
   days on market $1,650,000 Active 26 DOM
5. 2026-06-13
   days on market $1,650,000 Active 24 DOM
6. 2026-06-09
   days on market $1,650,000 Active 20 DOM
7. 2026-06-08
   days on market $1,650,000 Active 19 DOM
8. 2026-06-07
   days on market $1,650,000 Active 18 DOM
9. 2026-06-04
   days on market $1,650,000 Active 15 DOM
10. 2026-06-03
    days on market $1,650,000 Active 14 DOM
11. 2026-06-02
    days on market $1,650,000 Active 13 DOM
12. 2026-06-01
    days on market $1,650,000 Active 12 DOM
13. 2026-05-31
    days on market $1,650,000 Active 11 DOM
14. 2026-05-20
    listed $1,650,000 Active
15. 2025-08-13
    price
16. 2025-06-19
    price
17. 2025-04-28
    price
18. 2025-03-04
    listed Active
19. 2022-12-30
    soldstatus $1,400,000 Sold
20. 2022-12-30
    soldstatus $1,400,000
21. 2022-12-21
    listed $1,400,000 Active
22. 2022-10-19
    price
23. 2022-08-18
    price
24. 2022-07-07
    price
25. 2022-06-17
    price
26. 2022-05-24
    listed Active
27. 2018-04-25
    soldstatus $1,225,000
28. 2018-04-25
    soldstatus $1,225,000 Closed Sale
29. 2018-04-20
    soldstatus $1,225,000
30. 2018-01-15
    listed $1,249,000
31. 2018-01-15
    listed $1,249,000 Active
32. 2017-10-19
    soldstatus $950,000
33. 2012-12-18
    price $143,000
34. 2012-12-18
    price $143,000
35. 2012-12-18
    price $143,000
36. 2006-02-28
    soldstatus $825,000
37. 2004-08-04
    soldstatus $500,000
38. 2001-09-04
    soldstatus $265,000
39. 2001-09-04
    soldstatus $265,000
40. 2001-09-04
    soldstatus $265,000
41. 2001-07-20
    historical
42. 2001-05-23
    historical
43. 2001-05-22
    listed $265,000
44. 2001-03-21
    listed
45. 2001-03-21
    historical
46. 2001-01-24
    listed $265,000
47. 2000-12-29
    historical
48. 2000-12-29
    listed
49. 2000-11-16
    listed
50. 2000-11-16
    historical

ⓘ 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: $19,241 · $1,603/mo
• Projected year-2 tax: $19,241 · $1,603/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥90°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $217,644
• − Mortgage interest: −$92,426
• − Property taxes: −$19,241
• − Insurance: −$8,250
• − Repairs & maintenance: −$17,412
• − Management: −$17,412
• − Depreciation: −$48,000
• Taxable income: $14,904
• Est. tax owed @ 24.0%: −$3,577
• After-tax cash flow: $37,037/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): 52,122
• Household income: $59,021
• Rent vs Own: 60.8% rent · 39.2% own
• Severe rent burden: 2997.0

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 (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 23% Black 15% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 61%
• Foreign-born: 36% · Canada
• Languages at home: 25% English-only · Spanish 74%

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: ▼ -698.86%
• Current HPI: 478.4773
• Rent YoY: —
• 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

+371.4% since first listed

44 events — show timeline

• 2026-05-20 Listed $1,650,000 TheMLS
• 2025-08-13 Price Changed — TheMLS
• 2025-06-19 Price Changed — TheMLS
• 2025-04-28 Price Changed — TheMLS
• 2025-03-04 Listed — TheMLS
• 2022-12-30 Sold (Public Records) $1,400,000 Public Records
• 2022-12-30 Sold (MLS) $1,400,000 TheMLS
• 2022-12-21 Listed $1,400,000 TheMLS
• 2022-10-19 Price Changed — TheMLS
• 2022-08-18 Price Changed — TheMLS
• 2022-07-07 Price Changed — TheMLS
• 2022-06-17 Price Changed — TheMLS
• 2022-05-24 Listed — TheMLS
• 2018-04-25 Sold (MLS) $1,225,000 CRMLS
• 2018-04-25 Sold (MLS) $1,225,000 SDMLS
• 2018-04-20 Sold (Public Records) $1,225,000 Public Records
• 2018-01-15 Listed $1,249,000 CRMLS
• 2018-01-15 Listed $1,249,000 SDMLS
• 2017-10-19 Sold (Public Records) $950,000 Public Records
• 2012-12-18 Price Changed $143,000 CRMLS
• 2012-12-18 Price Changed $143,000 CRMLS
• 2012-12-18 Price Changed $143,000 CRMLS
• 2006-02-28 Sold (Public Records) $825,000 Public Records
• 2004-08-04 Sold (Public Records) $500,000 Public Records
• 2001-09-04 Sold (Public Records) $265,000 Public Records
• 2001-09-04 Sold (MLS) $265,000 CRMLS
• 2001-09-04 Sold (MLS) $265,000 TheMLS
• 2001-07-20 Delisted — TheMLS
• 2001-05-23 Delisted — TheMLS
• 2001-05-22 Listed $265,000 TheMLS
• 2001-03-21 Delisted — TheMLS
• 2001-03-21 Listed — TheMLS
• 2001-01-24 Listed $265,000 CRMLS
• 2000-12-29 Listed — TheMLS
• 2000-12-29 Delisted — TheMLS
• 2000-11-16 Delisted — TheMLS
• 2000-11-16 Listed — TheMLS
• 2000-10-16 Listed — TheMLS
• 1999-09-02 Price Changed $280,000 CRMLS
• 1999-09-02 Price Changed $280,000 CRMLS
• 1999-09-02 Price Changed $280,000 CRMLS
• 1999-09-02 Price Changed $280,000 CRMLS
• 1999-07-02 Listed $143,000 CRMLS
• 1989-04-17 Sold (Public Records) $350,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $19,241 · +1.2% YoY. Source: county tax records.