1344 W 4th St · Los Angeles, CA 90017

$4,250,000

None bd · 20.0 ba · 7,700 sqft · MultiFamily public records · 43 Days on market

Built 1922 5,414 sqft lot $552/sqft · 121% above area

---

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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.3/10.0
• 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: 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

Renovated 20-unit apartment building cash flowing at an amazing Current 8% Cap Rate from day 1! Fully Approved RTI plans to add 4 attached ADUs to achieve a remarkable 10% Cap Rate after taking into account all constructions costs (~312k assuming $340/SF). The property features 20 Spacious and easy to rent studios each with their own separate kitchen and bathrooms. Almost every single unit (95%) has been upgraded with updated cabinets, flooring, kitchens, bathrooms, as well as exterior improvements including renovated hallways. The property also offers an on-site laundry room, which could be re-opened to generate additional income. Located in the heart of Westlake, just steps away from trendy Echo Park, FilipinoTown, DTLA, and Koreatown. Highly walkable area surrounded by shops, restaurants, and major transit lines, the property combines steady cash flow with exceptional long-term upside in a prime urban corridor.

Key facts

• Updated cabinets
• Separate kitchen
• Separate bathrooms

Tags

• 20 UNIT APARTMENT BUILDING
• FULLY APPROVED RTI PLANS
• 4 ATTACHED ADUS
• SEPARATE KITCHEN
• SEPARATE BATHROOMS
• UPDATED CABINETS

What this means for you Summary

Snapshot

• This is a 20 × ?-bed/1-bath units multifamily listed at $4.25M.

Deal economics

• At list price, monthly cash flow is $5k ($58k/yr) — positive. Per door: $240/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 $3.96M (6.7% below list).
• Recommended offer: $3.96M (6.7% 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 soft (-1.9%/yr); 121 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $39,633/mo this rent would consume 902% 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 $29k of loan paydown is wiped out by about $128k 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 43 days — a 3% lower offer ($4.12M) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 28y 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 $1.30M; list at $4.25M implies a 227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,963,300 (6.7% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 7% 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 1922 — 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: 0.93% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 8.9

CMA / ARV

• ARV (median comp): $1,919,279
• List price: $4,250,000
• Delta: 121.44%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 S Bonnie Brae St	0.59mi	12/14.0	6,989 (-9%)	14mo	$1,162,500	$166	26

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.58×
• Total profit: $-499,647
• Equity at exit: $633,689

10-year hold

• IRR: -7.5%
• Equity multiple: 0.58×
• Total profit: $-494,215
• Equity at exit: $367,462

Cash invested: $1,190,000 (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: 178.7×

Monthly cashflow live

• Estimated rent: $39,633 high
• Mortgage (P&I): −$22,287
• Tax from tax record: −$2,442 /mo · $29,301/yr
• Insurance: −$1,771
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,323
• Net cashflow: $4,810

Break-even live

Break-even rent $33,544

Max offer price $4,250,000

Occupancy floor 83%

Sensitivity live

Price	-10% $7,216	-5% $6,013	+0% $4,810	+5% $3,607	+10% $2,404
Rent	-10% $1,679	-5% $3,244	+0% $4,810	+5% $6,375	+10% $7,941
Rate	-1.0pp $6,950	-0.5pp $5,891	base $4,810	+0.5pp $3,709	+1.0pp $2,588

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

Units	Beds	Baths	Est. rent
▸ 20× units	0	1	$39,640
Total (20 units)			$39,633

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: $1,062,500
• Closing costs: $127,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 S Broadway Unit 7TH Los Angeles, CA	2.0	3.0	6000	$11,000	$1.83	24d	1	1.03mi

Listing history 42 events

1. 2026-06-18
   days on market $4,250,000 Active 43 DOM
2. 2026-06-17
   days on market $4,250,000 Active 42 DOM
3. 2026-06-16
   days on market $4,250,000 Active 41 DOM
4. 2026-06-15
   days on market $4,250,000 Active 40 DOM
5. 2026-06-13
   days on market $4,250,000 Active 38 DOM
6. 2026-06-10
   price $4,250,000 Active 34 DOM
7. 2026-06-09
   days on market $4,449,000 Active 34 DOM
8. 2026-06-08
   days on market $4,449,000 Active 33 DOM
9. 2026-06-07
   days on market $4,449,000 Active 32 DOM
10. 2026-06-04
    days on market $4,449,000 Active 29 DOM
11. 2026-06-03
    days on market $4,449,000 Active 28 DOM
12. 2026-06-02
    days on market $4,449,000 Active 27 DOM
13. 2026-06-01
    days on market $4,449,000 Active 26 DOM
14. 2026-05-31
    days on market $4,449,000 Active 25 DOM
15. 2026-05-06
    listed $4,449,000 Active 927-char remark

    Show marketing remark (927 chars)

    Renovated 20-unit apartment building cash flowing at an amazing Current 8% Cap Rate from day 1! Fully Approved RTI plans to add 4 attached ADUs to achieve a remarkable 10% Cap Rate after taking into account all constructions costs (~312k assuming $340/SF). The property features 20 Spacious and easy to rent studios each with their own separate kitchen and bathrooms. Almost every single unit (95%) has been upgraded with updated cabinets, flooring, kitchens, bathrooms, as well as exterior improvements including renovated hallways. The property also offers an on-site laundry room, which could be re-opened to generate additional income. Located in the heart of Westlake, just steps away from trendy Echo Park, FilipinoTown, DTLA, and Koreatown. Highly walkable area surrounded by shops, restaurants, and major transit lines, the property combines steady cash flow with exceptional long-term upside in a prime urban corridor.

16. 2026-03-21
    price $1,295
17. 2026-02-25
    price $1,395
18. 2025-12-22
    listed $1,495
19. 2025-12-03
    historical $1,495
20. 2025-11-09
    listed $1,495
21. 2025-08-09
    historical $1,495
22. 2025-07-09
    listed $1,495
23. 2025-04-20
    historical $1,895
24. 2025-03-27
    price $1,895
25. 2025-03-14
    listed $1,995
26. 2023-11-14
    historical $1,200
27. 2023-11-02
    listed $1,200
28. 2008-06-20
    soldstatus $1,300,000
29. 2008-04-08
    historical
30. 2008-02-19
    listed
31. 2003-02-14
    soldstatus $500,000
32. 2000-11-17
    soldstatus $375,000
33. 2000-11-17
    soldstatus $375,000
34. 2000-11-17
    soldstatus $375,000
35. 2000-07-27
    historical
36. 1999-12-22
    listed $399,900
37. 1999-12-22
    listed $384,900
38. 1999-05-05
    soldstatus $329,545
39. 1999-05-04
    soldstatus $329,500
40. 1999-03-03
    listed $360,000
41. 1999-03-02
    historical
42. 1998-09-02
    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: $29,301 · $2,442/mo
• Projected year-2 tax: $32,300 · $2,692/mo
• Expected delta: +$2,999/yr (+$250/mo · 10.2%)

ⓘ 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 6 d/yr ≥93°F today · 18 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: $475,596
• − Mortgage interest: −$238,066
• − Property taxes: −$29,301
• − Insurance: −$21,250
• − Repairs & maintenance: −$38,048
• − Management: −$38,048
• − Depreciation: −$123,636
• Taxable loss: −$12,753
• Est. tax savings @ 24.0%: +$3,061
• After-tax cash flow: $60,781/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

+1135.8% since first listed

28 events — show timeline

• 2026-05-06 Listed $4,449,000 TheMLS
• 2026-03-21 Price Changed $1,295 SHOWMOJO
• 2026-02-25 Price Changed $1,395 SHOWMOJO
• 2025-12-22 Listed for Rent $1,495 SHOWMOJO
• 2025-12-03 Rental Removed $1,495 SHOWMOJO
• 2025-11-09 Listed for Rent $1,495 SHOWMOJO
• 2025-08-09 Rental Removed $1,495 SHOWMOJO
• 2025-07-09 Listed for Rent $1,495 SHOWMOJO
• 2025-04-20 Rental Removed $1,895 SHOWMOJO
• 2025-03-27 Price Changed $1,895 SHOWMOJO
• 2025-03-14 Listed for Rent $1,995 SHOWMOJO
• 2023-11-14 Rental Removed $1,200 APPFOLIO
• 2023-11-02 Listed for Rent $1,200 APPFOLIO
• 2008-06-20 Sold (Public Records) $1,300,000 Public Records
• 2008-04-08 Delisted — TheMLS
• 2008-02-19 Listed — TheMLS
• 2003-02-14 Sold (Public Records) $500,000 Public Records
• 2000-11-17 Sold (Public Records) $375,000 Public Records
• 2000-11-17 Sold (MLS) $375,000 CRMLS
• 2000-11-17 Sold (MLS) $375,000 TheMLS
• 2000-07-27 Delisted — TheMLS
• 1999-12-22 Listed $384,900 CRMLS
• 1999-12-22 Listed $399,900 TheMLS
• 1999-05-05 Sold (Public Records) $329,545 Public Records
• 1999-05-04 Sold (MLS) $329,500 TheMLS
• 1999-03-03 Listed $360,000 TheMLS
• 1999-03-02 Delisted — TheMLS
• 1998-09-02 Listed — TheMLS

Property tax history

+8.0%/yr

Latest (2025): $29,301 · +36.3% YoY. Source: county tax records.