3735 Mentone Ave · Los Angeles, CA 90034

$2,375,000

10 bd · 11.0 ba · 7,318 sqft · MultiFamily public records · 40 Days on market

Built 1967 7,502 sqft lot $325/sqft · 11% below area Est $2669k · 11% under

---

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 +18.5/30.0
• ARV discount +12.5/15.0
• DSCR +5.8/10.0
• 1% rule +3.9/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• 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

Roque & Mark Co. is pleased to represent this well maintained 8-unit apartment building in the most desirable living area of Palms - north of Venice Blvd. and steps to restaurants, shopping, and downtown Culver City. This property can be purchased separately or with 3625 Mentone Ave. Excellent unit mix consisting of (3) 2 beds + 2 baths, (1) 1 bed + large den + 1 bath, (3) 1 bed + 1 bath, and (1) studio unit. The property is fully occupied and currently offered at a 11.0 GRM and 6.0% CAP rate with actual rents. Most units have their own balcony or patio. Plenty of parking with 8 individual spaces and 11 total if used as tandem. There is an alley. All soft-story retrofitting and balcon

Key facts

• Own balcony or patio
• Plenty of parking
• 8 individual spaces

Tags

• 8 UNIT APARTMENT BUILDING
• OWN BALCONY OR PATIO
• PLENTY OF PARKING
• 8 INDIVIDUAL SPACES
• COMPLETED BALCONY INSPECTIONS
• LARGE BUILDING FOOTPRINT

Property features AI

Finance

• Other: Units are apartments (eight units total); unit rents range from approximately $1,087 to $2,895
• Financial info: Gross income: $215,424; Gross operating income: $211,116; Net operating income: $141,154; Total annual expenses: $69,962; Cap rate: 5.48%; Gross rent multiplier: 11.95; Vacancy allowance: 2%; Income reported as Actual
• HOA & community: 8 total units in complex

Exterior

• Parking: 11 total parking spaces; 8 carport spaces; 3 open parking spaces; Driveway access
• Utilities: Sewer connection in street; Water in street; served by LADWP; Tenant pays gas and electric; owner pays water
• Home design: Residential income property; Two total floors (building described as one level per unit)
• Construction: Composition/Shingle roof
• Exterior features: Alley access; No additional detached structures

Interior

• Kitchen: Garbage disposal included in units
• Bedrooms: Unit mix includes 3 two-bedroom units, 5 one-bedroom/efficiency units (unit-level breakdown below)
• Bathrooms: Multiple full and three-quarter bathrooms across units (see unit breakdown)
• Heating & cooling: Wall heating; No central cooling
• Interior features: Garbage disposal; Balcony
• Laundry & utility: Onsite community laundry (owner-owned equipment); Central gas water heater

What this means for you Summary

Snapshot

• This is a 3×2bd/2ba + 4×1bd/1ba + 1×?bd/1ba units multifamily listed at $2.38M.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $284/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.11M (11.0% below list).
• Recommended offer: $2.11M (11.0% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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-, 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.
• Zoned schools: Palms Elementary (250 students, 75% FRL); Palms Middle (1,244 students, 66% FRL); Alexander Hamilton Senior High (math 31% / reading 65%, grade D, #380 of 1,170 statewide, top 33%, 2,259 students, 74% FRL) — zoned schools at 72% FRL track the district average.
• Market conditions: Rents flat; 120 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 $21,146/mo this rent would consume 240% of the median local household income ($106k/yr) (locally 4507% 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 $71k 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 40 days — a 3% lower offer ($2.30M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $200k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $435k; list at $2.38M implies a 446% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $2,114,600 (11.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 11% 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 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.89% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 9.4

CMA / ARV

• ARV (median comp): $2,669,081
• List price: $2,375,000
• Delta: -11.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3310 Keystone Ave	0.58mi	10/11.0	7,316 (-0%)	2mo	$2,450,000	$335	71
3831 Motor	0.20mi	10/13.0	8,159 (+12%)	3mo	$2,045,000	$251	61

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 · 0.3% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.55×
• Total profit: $-297,224
• Equity at exit: $354,120

10-year hold

• IRR: -7.9%
• Equity multiple: 0.56×
• Total profit: $-293,901
• Equity at exit: $205,347

Cash invested: $665,000 (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 90034

• Rents YoY: 0.3%
• Active inventory: 120
• Price-to-rent: 72.1×

Monthly cashflow live

• Estimated rent: $21,146 high
• Mortgage (P&I): −$12,455
• Tax from tax record: −$993 /mo · $11,914/yr
• Insurance: −$990
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,441
• Net cashflow: $2,268

Break-even live

Break-even rent $18,275

Max offer price $2,375,000

Occupancy floor 84%

Sensitivity live

Price	-10% $3,613	-5% $2,940	+0% $2,268	+5% $1,596	+10% $924
Rent	-10% $598	-5% $1,433	+0% $2,268	+5% $3,103	+10% $3,939
Rate	-1.0pp $3,464	-0.5pp $2,872	base $2,268	+0.5pp $1,653	+1.0pp $1,027

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	2	$8,232
▸ 4× units	1	1	$10,332
1× unit	0	1	$2,584
Total (8 units)			$21,146

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: $593,750
• Closing costs: $71,250
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $2,375,000 Active 40 DOM
2. 2026-06-18
   days on market $2,375,000 Active 37 DOM
3. 2026-06-17
   days on market $2,375,000 Active 36 DOM
4. 2026-06-16
   days on market $2,375,000 Active 35 DOM
5. 2026-06-15
   price $2,375,000 Active 34 DOM
6. 2026-06-15
   days on market $2,575,000 Active 34 DOM
7. 2026-06-13
   days on market $2,575,000 Active 32 DOM
8. 2026-06-09
   days on market $2,575,000 Active 28 DOM
9. 2026-06-08
   days on market $2,575,000 Active 27 DOM
10. 2026-06-07
    days on market $2,575,000 Active 26 DOM
11. 2026-06-04
    days on market $2,575,000 Active 23 DOM
12. 2026-06-03
    days on market $2,575,000 Active 22 DOM
13. 2026-06-02
    days on market $2,575,000 Active 21 DOM
14. 2026-06-01
    days on market $2,575,000 Active 20 DOM
15. 2026-05-31
    days on market $2,575,000 Active 19 DOM
16. 2026-05-12
    listed $2,575,000 Active 1122-char remark
17. 2024-04-10
    historical $2,950
18. 2024-03-29
    listed $2,950
19. 2022-03-20
    price $2,950
20. 1983-10-31
    soldstatus $435,000

ⓘ 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: $11,914 · $993/mo
• Projected year-2 tax: $18,050 · $1,504/mo
• Expected delta: +$6,136/yr (+$511/mo · 51.5%)

ⓘ 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 6/10 Major 7 d/yr ≥85°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $253,752
• − Mortgage interest: −$133,037
• − Property taxes: −$11,914
• − Insurance: −$11,875
• − Repairs & maintenance: −$20,300
• − Management: −$20,300
• − Depreciation: −$69,091
• Taxable loss: −$12,765
• Est. tax savings @ 24.0%: +$3,064
• After-tax cash flow: $30,282/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): 57,075
• Household income: $105,701
• Rent vs Own: 79.6% rent · 20.4% own
• Severe rent burden: 4507.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 41% Hispanic / Latino 26% Asian 18% Two or more races 13% Black 9%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Scotch-Irish 3% Romanian 3% Italian 2%
• Foreign-born: 30% · Canada, China, South Korea
• Languages at home: 58% English-only · Spanish 21% Other Indo-European 6% Chinese 4%

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: ▼ -1346.08%
• Current HPI: 445.7709
• Rent YoY: ▲ 0.30%
• 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

+446.0% since first listed

6 events — show timeline

• 2026-06-15 Price Changed $2,375,000 TheMLS
• 2026-05-12 Listed $2,575,000 TheMLS
• 2024-04-10 Rental Removed $2,950 APPFOLIO
• 2024-03-29 Listed for Rent $2,950 APPFOLIO
• 2022-03-20 Price Changed $2,950 RENT.
• 1983-10-31 Sold (Public Records) $435,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $11,914 · +1.6% YoY. Source: county tax records.