1247 W 8th St · Los Angeles, CA 90017

$1,300,000

9 bd · 12.0 ba · 6,762 sqft · MultiFamily public records · 23 Days on market

Built 1910 5,508 sqft lot

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Why this score? — see what drove the B- 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +1.3/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. 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

We are pleased to present a twelve (12) unit apartment building located at 1247 W 8th St in Los Angeles, California. The subject property is located in a solid Westlake location, north of Olympic Blvd and west of Union Ave. Located in the Westlake neighborhood adjacent to Downtown Los Angeles, 1247 W 8th St features a solid unit mix of four studio units and eight one-bedroom units, with one unit delivered vacant and approximately 30% rental upside potential. The asset is separately metered for gas and electricity, features new electric panels, and operates as a strong cashflow investment at approximately 170 basis points above current debt. Residents benefit from immediate access to the 110

Key facts

• One vacant unit
• Nearby amenities
• Metro a and b lines

Tags

• WESTLAKE LOCATION
• METRO A AND B LINES
• NEARBY AMENITIES
• SOLID UNIT MIX
• ONE VACANT UNIT
• RENTAL UPSIDE POTENTIAL

Property features AI

Finance

• Other: Unit mix: four like studio units and eight like 1-bedroom units; Unit rents example: studios listed with actual rent totaling about 5,100 (projected 6,400); 1-bedrooms actual rent about 10,942 (projected 14,800)
• Financial info: Gross income reported at 192,512; Gross operating income approximately 186,736; Net operating income approximately 99,973; Total annual expenses approximately 86,763; Cap rate about 7.69%; Gross rent multiplier about 6.75; Vacancy rate reported at 1%; Income reported as actual

Exterior

• Parking: No garage
• Utilities: No specific water, sewer, or power details provided
• Home design: Residential income property; Two-level building; 12 total units in the complex; One building on the lot; Zoned LACW; Located north of Olympic Blvd and west of Union Ave
• Construction: No construction material or year built provided
• Exterior features: No additional exterior structures

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Unit types include studio and 1-bedroom apartments
• Bathrooms: Units include one bathroom
• Heating & cooling: Other heating; Other cooling
• Interior features: As-is condition
• Laundry & utility: No laundry or utility appliance details provided

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $1.30M.

Deal economics

• At list price, monthly cash flow is $5k ($57k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.30M).
• Recommended offer: $1.28M (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 soft (-1.9%/yr); 121 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $16,489/mo this rent would consume 375% of the median local household income ($53k/yr) (locally 4819% 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 $39k 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 23 days — a 2% lower offer ($1.28M) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 18y 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 $630k; list at $1.30M implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $1,280,500 (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 1910 — 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: 1.27% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.77%
• DSCR: 1.70
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.12×
• Total profit: $45,431
• Equity at exit: $193,834

10-year hold

• IRR: 10.0%
• Equity multiple: 1.67×
• Total profit: $244,216
• Equity at exit: $112,400

Cash invested: $364,000 (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 90017

• Home prices YoY: -2.3%
• Rents YoY: -1.9%
• Active inventory: 121
• Price-to-rent: 19.7×

Monthly cashflow live

• Estimated rent: $16,489 high
• Mortgage (P&I): −$6,817
• Tax from tax record: −$885 /mo · $10,615/yr
• Insurance: −$542
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,463
• Net cashflow: $4,783

Break-even live

Break-even rent $10,435

Max offer price $1,300,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$16,488
Total (3 units)			$16,489

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: $325,000
• Closing costs: $39,000
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $1,300,000 Active 23 DOM
2. 2026-06-17
   days on market $1,300,000 Active 22 DOM
3. 2026-06-16
   days on market $1,300,000 Active 21 DOM
4. 2026-06-15
   days on market $1,300,000 Active 20 DOM
5. 2026-06-13
   days on market $1,300,000 Active 18 DOM
6. 2026-06-09
   days on market $1,300,000 Active 14 DOM
7. 2026-06-08
   days on market $1,300,000 Active 13 DOM
8. 2026-06-07
   days on market $1,300,000 Active 12 DOM
9. 2026-06-04
   days on market $1,300,000 Active 9 DOM
10. 2026-06-03
    days on market $1,300,000 Active 8 DOM
11. 2026-06-02
    days on market $1,300,000 Active 7 DOM
12. 2026-06-01
    days on market $1,300,000 Active 6 DOM
13. 2026-05-31
    days on market $1,300,000 Active 5 DOM
14. 2026-05-26
    listed $1,300,000 Active
15. 2025-10-03
    listed Active
16. 2025-09-03
    status Active
17. 2025-09-03
    price
18. 2025-08-28
    status Pending
19. 2025-08-20
    listed Active
20. 2025-08-20
    historical
21. 2012-12-07
    soldstatus $630,000 Closed
22. 2012-12-07
    soldstatus $630,000
23. 2012-11-13
    status Pending
24. 2012-08-13
    status Active
25. 2012-08-07
    status Pending
26. 2012-07-26
    listed $775,000 Active
27. 2010-03-16
    historical Expired
28. 2009-12-14
    price
29. 2009-10-09
    listed Active
30. 2009-10-06
    historical
31. 2009-09-21
    price
32. 2009-05-18
    price
33. 2009-03-31
    price
34. 2009-01-02
    status
35. 2009-01-02
    historical
36. 2008-05-02
    listed

ⓘ 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: $10,615 · $885/mo
• Projected year-2 tax: $10,615 · $885/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 · 21 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: $197,868
• − Mortgage interest: −$72,820
• − Property taxes: −$10,615
• − Insurance: −$6,500
• − Repairs & maintenance: −$15,829
• − Management: −$15,829
• − Depreciation: −$37,818
• Taxable income: $38,456
• Est. tax owed @ 24.0%: −$9,229
• After-tax cash flow: $48,164/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): 30,172
• Household income: $52,717
• Rent vs Own: 94.3% rent · 5.7% own
• Severe rent burden: 4819.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 56% Asian 18% Black 13% White 11% Two or more races 9% Native American 1%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 44% · Canada, South Korea, China
• Languages at home: 34% English-only · Spanish 48% Korean 9% Chinese 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: ▼ -7.36%
• Current HPI: 308.6973
• Rent YoY: ▼ -1.91%
• 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

+67.7% since first listed

23 events — show timeline

• 2026-05-26 Listed $1,300,000 TheMLS
• 2025-10-03 Listed — TheMLS
• 2025-09-03 Relisted — TheMLS
• 2025-09-03 Price Changed — TheMLS
• 2025-08-28 Pending — TheMLS
• 2025-08-20 Listed — TheMLS
• 2025-08-20 Coming Soon — TheMLS
• 2012-12-07 Sold (Public Records) $630,000 Public Records
• 2012-12-07 Sold (MLS) $630,000 TheMLS
• 2012-11-13 Pending — TheMLS
• 2012-08-13 Relisted — TheMLS
• 2012-08-07 Pending — TheMLS
• 2012-07-26 Listed $775,000 TheMLS
• 2010-03-16 Delisted — TheMLS
• 2009-12-14 Price Changed — TheMLS
• 2009-10-09 Listed — TheMLS
• 2009-10-06 Delisted — TheMLS
• 2009-09-21 Price Changed — TheMLS
• 2009-05-18 Price Changed — TheMLS
• 2009-03-31 Price Changed — TheMLS
• 2009-01-02 Relisted — TheMLS
• 2009-01-02 Delisted — TheMLS
• 2008-05-02 Listed — TheMLS

Property tax history

+9.5%/yr

Latest (2025): $10,615 · +1.7% YoY. Source: county tax records.