3212 Drew St · Los Angeles, CA 90065

$1,350,000

8 bd · 4.0 ba · 3,000 sqft · MultiFamily public records · 34 Days on market

Built 1962 9,603 sqft lot Est $1149k · 17% over ↓ 25% since listing

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Why this score? — see what drove the D 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 +19.9/30.0
• DSCR +6.3/10.0
• 1% rule +4.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

Exceptional investment opportunity in the heart of Glassell Park! This unique 5-unit income property offers a combined 4,437 sq ft of living space with a total of 11 bedrooms and 6 bathrooms. The front residence features approximately 2,400 sq ft with 3 bedrooms and 2 bathrooms, providing a spacious single-family home feel. The additional four units each offer 2 bedrooms and 1 bathroom with approximately 600 sq ft each, creating strong rental income potential. Situated on a desirable lot with 5 uncovered parking spaces, this property presents an ideal opportunity for investors, owner-users, or multi-generational living. Conveniently located near shopping, dining, freeways, and all that vibrant Glassell Park has to offer. A rare chance to own a versatile multi-unit property in a sought-after Los Angeles neighborhood!

Key facts

• Desirable lot
• Conveniently located
• 9,603 sq ft lot

Tags

• 5 UNIT INCOME PROPERTY
• STRONG RENTAL INCOME POTENTIAL
• DESIRABLE LOT
• UNCOVERED PARKING SPACES
• CONVENIENTLY LOCATED
• VERSATILE MULTI UNIT PROPERTY

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.22M (9.7% below list).
• Recommended offer: $1.22M (9.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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: Rents flat; 242 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 $12,192/mo this rent would consume 154% of the median local household income ($95k/yr) (locally 2198% 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 $9k of loan paydown is wiped out by about $40k 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 34 days — a 3% lower offer ($1.31M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,219,200 (9.7% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.90% ✗
• Cap rate: 7.74%
• Cash-on-cash: 5.18%
• DSCR: 1.23
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $1,149,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3636 Eagle Rock Blvd	0.60mi	7/3.0 (-1)	3,172 (+6%)	9mo	$1,045,000	$329	46
3278 -84 Casitas Ave	0.49mi	7/7.0 (-1)	3,080 (+3%)	20mo	$2,175,000	$706	39
3119 Larga Ave	0.67mi	9/8.0 (+1)	3,396 (+13%)	8mo	$1,299,999	$383	20

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 · 0.21% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.61×
• Total profit: $-148,795
• Equity at exit: $201,289

10-year hold

• IRR: -5.9%
• Equity multiple: 0.66×
• Total profit: $-127,576
• Equity at exit: $116,723

Cash invested: $378,000 (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 90065

• Rents YoY: 0.2%
• Active inventory: 242
• Price-to-rent: 37.7×

Monthly cashflow live

• Estimated rent: $12,192 high
• Mortgage (P&I): −$7,080
• Tax from tax record: −$358 /mo · $4,301/yr
• Insurance: −$562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,560
• Net cashflow: $1,631

Break-even live

Break-even rent $10,127

Max offer price $1,350,000

Occupancy floor 82%

Sensitivity live

Price	-10% $2,395	-5% $2,013	+0% $1,631	+5% $1,249	+10% $867
Rent	-10% $668	-5% $1,150	+0% $1,631	+5% $2,113	+10% $2,594
Rate	-1.0pp $2,311	-0.5pp $1,975	base $1,631	+0.5pp $1,281	+1.0pp $926

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$2,984
▸ 4× units	2	1	$9,208
Total (5 units)			$12,192

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: $337,500
• Closing costs: $40,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $1,350,000 Active 34 DOM
2. 2026-06-18
   days on market $1,350,000 Active 31 DOM
3. 2026-06-17
   days on market $1,350,000 Active 30 DOM
4. 2026-06-16
   days on market $1,350,000 Active 29 DOM
5. 2026-06-15
   days on market $1,350,000 Active 28 DOM
6. 2026-06-13
   days on market $1,350,000 Active 26 DOM
7. 2026-06-09
   days on market $1,350,000 Active 22 DOM
8. 2026-06-08
   days on market $1,350,000 Active 21 DOM
9. 2026-06-07
   days on market $1,350,000 Active 20 DOM
10. 2026-06-04
    days on market $1,350,000 Active 17 DOM
11. 2026-06-03
    days on market $1,350,000 Active 16 DOM
12. 2026-06-02
    days on market $1,350,000 Active 15 DOM
13. 2026-06-01
    days on market $1,350,000 Active 14 DOM
14. 2026-05-31
    days on market $1,350,000 Active 13 DOM
15. 2026-05-18
    listed $1,350,000 Active 827-char remark

    Show marketing remark (827 chars)

    Exceptional investment opportunity in the heart of Glassell Park! This unique 5-unit income property offers a combined 4,437 sq ft of living space with a total of 11 bedrooms and 6 bathrooms. The front residence features approximately 2,400 sq ft with 3 bedrooms and 2 bathrooms, providing a spacious single-family home feel. The additional four units each offer 2 bedrooms and 1 bathroom with approximately 600 sq ft each, creating strong rental income potential. Situated on a desirable lot with 5 uncovered parking spaces, this property presents an ideal opportunity for investors, owner-users, or multi-generational living. Conveniently located near shopping, dining, freeways, and all that vibrant Glassell Park has to offer. A rare chance to own a versatile multi-unit property in a sought-after Los Angeles neighborhood!

16. 2026-05-03
    historical
17. 2026-03-18
    listed $1,799,000 Active

ⓘ 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: $4,301 · $358/mo
• Projected year-2 tax: $10,260 · $855/mo
• Expected delta: +$5,959/yr (+$497/mo · 138.6%)

ⓘ 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 ≥97°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $146,304
• − Mortgage interest: −$75,621
• − Property taxes: −$4,301
• − Insurance: −$6,750
• − Repairs & maintenance: −$11,704
• − Management: −$11,704
• − Depreciation: −$39,273
• Taxable loss: −$3,049
• Est. tax savings @ 24.0%: +$732
• After-tax cash flow: $20,307/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): 44,658
• Household income: $94,784
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2198.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 27% Two or more races 20% Asian 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 36% · Canada, China, South Korea
• Languages at home: 45% English-only · Spanish 41% Tagalog/Filipino 5% 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: ▼ -1578.12%
• Current HPI: 536.5042
• Rent YoY: ▲ 0.21%
• 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

-25.0% since first listed

3 events — show timeline

• 2026-05-18 Listed $1,350,000 CRMLS
• 2026-05-03 Listing Removed — CRMLS
• 2026-03-18 Listed $1,799,000 CRMLS

Property tax history

+1.9%/yr

Latest (2025): $4,301 · +2.7% YoY. Source: county tax records.