617 N Orange Dr · Los Angeles, CA 90036

$5,250,000

20 bd · 20.0 ba · 15,000 sqft · MultiFamily public records · 104 Days on market

Built 1964 0.31 ac lot $350/sqft · 9% above area Est $4832k · 9% 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 +22.0/30.0
• DSCR +7.0/10.0
• Appreciation +6.3/10.0
• 1% rule +5.3/10.0
• ARV discount +3.6/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 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

20-unit Los Angeles multifamily opportunity featuring 2.69% interest-only assumable financing through December 2030. The property offers strong in-place income with an approx. cash on cash return above 6.7%, a 12.31 GRM and 4.49% cap rate, equating to approximately $262,500 per unit and $350 per square foot. Comprised entirely of one-bedroom, one-bath units, the asset is well positioned in a supply-constrained rental submarket with consistent demand. Built in 1964, the property provides operational scale and value-add potential through interior renovations. Favorable assumable financing enhances cash flow and reduces acquisition financing risk.

Key facts

• 0.31 acre lot
• 22 parking spots
• Built 1964

What this means for you Summary

Snapshot

• This is a 20 × 1-bed/?-bath units multifamily listed at $5.25M.

Deal economics

• At list price, monthly cash flow is $8k ($100k/yr) — positive. Per door: $417/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($54k rent vs $5.25M).
• Recommended offer: $4.78M (9.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: Vine Street Elementary (251 students, 92% FRL); Hubert Howe Bancroft Middle (446 students, 92% FRL); Fairfax Senior High (math 40% / reading 61%, grade D+, #324 of 1,170 statewide, top 28%, 1,632 students, 81% FRL) — zoned schools average 89% FRL vs 67% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.1%/yr); 94 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 $53,887/mo this rent would consume 589% of the median local household income ($110k/yr) (locally 4924% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $170k of equity ($36k loan paydown + $134k appreciation (2.5% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.5% appreciation + 0.0% rent growth), your $1.47M cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$427k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($4.78M) is reasonable based on typical stale-listing flexibility.

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 $4,777,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 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 1964 — 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: 1.03% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.81%
• DSCR: 1.30
• GRM: 8.1

CMA / ARV

• ARV (median comp): $4,831,614
• List price: $5,250,000
• Delta: 8.66%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
455 N Sycamore Ave	0.18mi	21/16.0 (+1)	14,378 (-4%)	8mo	$6,000,000	$417	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.55% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.60×
• Total profit: $882,398
• Equity at exit: $2,229,762

10-year hold

• IRR: 12.0%
• Equity multiple: 2.61×
• Total profit: $2,366,932
• Equity at exit: $3,337,854

Cash invested: $1,470,000 (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 90036

• Home prices YoY: 0.6%
• Rents YoY: -1.1%
• Active inventory: 94
• Price-to-rent: 162.4×

Monthly cashflow live

• Estimated rent: $53,887 high
• Mortgage (P&I): −$27,532
• Tax from tax record: −$4,509 /mo · $54,109/yr
• Insurance: −$2,188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$11,316
• Net cashflow: $8,343

Break-even live

Break-even rent $43,327

Max offer price $5,250,000

Occupancy floor 80%

Sensitivity live

Price	-10% $11,314	-5% $9,829	+0% $8,343	+5% $6,857	+10% $5,371
Rent	-10% $4,085	-5% $6,214	+0% $8,343	+5% $10,471	+10% $12,600
Rate	-1.0pp $10,986	-0.5pp $9,678	base $8,343	+0.5pp $6,982	+1.0pp $5,598

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

Units	Beds	Baths	Est. rent
▸ 20× units	1	—	$53,880
Total (20 units)			$53,887

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: $1,312,500
• Closing costs: $157,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $5,250,000 Active 104 DOM
2. 2026-06-18
   days on market $5,250,000 Active 101 DOM
3. 2026-06-17
   days on market $5,250,000 Active 100 DOM
4. 2026-06-16
   days on market $5,250,000 Active 99 DOM
5. 2026-06-15
   days on market $5,250,000 Active 98 DOM
6. 2026-06-13
   days on market $5,250,000 Active 96 DOM
7. 2026-06-09
   days on market $5,250,000 Active 92 DOM
8. 2026-06-08
   days on market $5,250,000 Active 91 DOM
9. 2026-06-07
   days on market $5,250,000 Active 90 DOM
10. 2026-06-04
    days on market $5,250,000 Active 87 DOM
11. 2026-06-03
    days on market $5,250,000 Active 86 DOM
12. 2026-06-02
    days on market $5,250,000 Active 85 DOM
13. 2026-06-01
    days on market $5,250,000 Active 84 DOM
14. 2026-05-31
    days on market $5,250,000 Active 83 DOM
15. 2026-03-09
    listed $5,250,000 Active 652-char remark

    Show marketing remark (652 chars)

    20-unit Los Angeles multifamily opportunity featuring 2.69% interest-only assumable financing through December 2030. The property offers strong in-place income with an approx. cash on cash return above 6.7%, a 12.31 GRM and 4.49% cap rate, equating to approximately $262,500 per unit and $350 per square foot. Comprised entirely of one-bedroom, one-bath units, the asset is well positioned in a supply-constrained rental submarket with consistent demand. Built in 1964, the property provides operational scale and value-add potential through interior renovations. Favorable assumable financing enhances cash flow and reduces acquisition financing risk.

ⓘ 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: $54,109 · $4,509/mo
• Projected year-2 tax: $54,109 · $4,509/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 6/10 Major 7 d/yr ≥90°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $646,644
• − Mortgage interest: −$294,082
• − Property taxes: −$54,109
• − Insurance: −$26,250
• − Repairs & maintenance: −$51,732
• − Management: −$51,732
• − Depreciation: −$152,727
• Taxable income: $16,013
• Est. tax owed @ 24.0%: −$3,843
• After-tax cash flow: $96,268/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): 39,278
• Household income: $109,785
• Rent vs Own: 86.3% rent · 13.7% own
• Severe rent burden: 4924.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 54% Asian 19% Hispanic / Latino 13% Two or more races 11% Black 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 4% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 26% · Canada, South Korea, China
• Languages at home: 66% English-only · Spanish 9% Korean 6% Other Indo-European 5%

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: ▲ 2.55%
• Current HPI: 439.6946
• Rent YoY: ▼ -1.13%
• 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

• 2026-03-09 Listed $5,250,000 TheMLS

Property tax history

+1.6%/yr

Latest (2025): $54,109 · +1.3% YoY. Source: county tax records.