746 E 32nd St · Los Angeles, CA 90011

$699,000

4 bd · 4.0 ba · 3,216 sqft · MultiFamily public records · 17 Days on market

Built 1912 5,388 sqft lot Est $823k · 15% under

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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 +28.6/30.0
• ARV discount +14.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +0.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Attention investors this is your opportunity to own 4 units in Los Angeles. Very good condition 1 bedroom, 1 bath each unit. All the units are occupied, tenants pay on time.

Key facts

• Brand new roof
• Turnkey quadruplex
• Conveniently located

Tags

• TURNKEY QUADRUPLEX
• MAJOR CAPITAL IMPROVEMENT
• BRAND NEW ROOF
• DEDICATED PARKING SPOT
• HIGH DEMAND RENTAL MARKET
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: One building on the parcel; Management company listed as Ever
• Financial info: Gross income reported approximately $44,772; Gross operating income approximately $42,534; Net operating income approximately $36,000; Total annual expenses approximately $7,200; Cap rate about 5.1; Gross rent multiplier about 16.18; Current rents (actual): Unit rents reported $883, $948, $950, $950; Projected rent per unit listed at $1,900
• HOA & community: Four units in the complex

Exterior

• Parking: On-street parking; Uncovered private parking spaces (8 open spaces total)
• Utilities: Gas water heater
• Home design: Residential income property; Two-level building
• Construction: Stucco exterior
• Exterior features: No other structures; Zoned LARD1.5

Interior

• Kitchen: Kitchens in each unit (appliances not specified)
• Bedrooms: Four 1‑bedroom units
• Bathrooms: Four 1‑bath units
• Heating & cooling: Wall heat; No central cooling
• Interior features: Wall heating; Gas water heater
• Laundry & utility: Water heaters present

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $574/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $699k).
• Recommended offer: $689k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% 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-, 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 falling (-8.2%/yr); 126 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $8,629/mo this rent would consume 175% of the median local household income ($59k/yr) (locally 5930% 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 $5k of loan paydown is wiped out by about $21k 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 17 days — a 2% lower offer ($689k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $450k; list at $699k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• 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 $688,515 (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 1912 — 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: 1.23% ✓
• Cap rate: 10.23%
• Cash-on-cash: 14.07%
• DSCR: 1.63
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $823,296
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
182 E 35th St	0.44mi	4/4.0	3,128 (-3%)	3mo	$800,000	$256	72
317 E 36th St	0.40mi	4/4.0	2,868 (-11%)	4mo	$695,000	$242	60

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $7,546
• Equity at exit: $104,223

10-year hold

• IRR: 7.5%
• Equity multiple: 1.49×
• Total profit: $96,807
• Equity at exit: $60,437

Cash invested: $195,720 (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 90011

• Rents YoY: -8.2%
• Active inventory: 126
• Price-to-rent: 27.0×

Monthly cashflow live

• Estimated rent: $8,629 high
• Mortgage (P&I): −$3,666
• Tax from tax record: −$565 /mo · $6,782/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,812
• Net cashflow: $2,295

Break-even live

Break-even rent $5,724

Max offer price $699,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$8,628
Total (4 units)			$8,629

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
839 E 32nd St Unit 32(841) Los Angeles, CA	5.0	4.0	2150	$4,000	$1.86	24d	1	0.11mi
839 E 32nd St Los Angeles, CA	5.0	4.0	2150	$4,000	$1.86	16d	1	0.11mi
2823 Maple Ave Los Angeles, CA	3.0	3.0	2499	$3,700	$1.48	24d	1	0.43mi
225 E 30th St Unit 225 1/2 Los Angeles, CA	3.0	2.0	4346	$3,100	$0.71	43d	1	0.48mi
215 E 29th St Unit 1 Los Angeles, CA	4.0	4.0	4000	$750	$0.19	24d	1	0.51mi
145 E 36th St Unit 145 Los Angeles, CA	5.0	3.0	4500	$5,400	$1.20	24d	1	0.53mi
1265 E Adams Blvd Unit 1 Los Angeles, CA	5.0	4.0	4000	$749	$0.19	24d	1	0.73mi
213 W 43rd St Los Angeles, CA	5.0	4.0	2302	$4,200	$1.82	4d	1	1.05mi
1635 E 33rd St Los Angeles, CA	5.0	4.0	3000	$750	$0.25	24d	1	1.12mi

Listing history 12 events

1. 2026-06-18
   days on market $699,000 Active 17 DOM
2. 2026-06-17
   days on market $699,000 Active 16 DOM
3. 2026-06-16
   days on market $699,000 Active 15 DOM
4. 2026-06-15
   days on market $699,000 Active 14 DOM
5. 2026-06-13
   days on market $699,000 Active 12 DOM
6. 2026-06-09
   days on market $699,000 Active 8 DOM
7. 2026-06-08
   days on market $699,000 Active 7 DOM
8. 2026-06-07
   days on market $699,000 Active 6 DOM
9. 2026-06-04
   days on market $699,000 Active 3 DOM
10. 2026-06-03
    days on market $699,000 Active 2 DOM
11. 2026-06-02
    remarks 699-char remark
12. 2026-06-02
    listed $699,000 Active 1 DOM

ⓘ 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: $6,782 · $565/mo
• Projected year-2 tax: $6,782 · $565/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 ≥91°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $103,548
• − Mortgage interest: −$39,155
• − Property taxes: −$6,782
• − Insurance: −$3,495
• − Repairs & maintenance: −$8,284
• − Management: −$8,284
• − Depreciation: −$20,335
• Taxable income: $17,214
• Est. tax owed @ 24.0%: −$4,131
• After-tax cash flow: $23,407/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): 100,113
• Household income: $59,017
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 5930.0

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: Predominantly Hispanic (92%)
• Race & ethnicity: Hispanic / Latino 92% Two or more races 26% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 67%
• Foreign-born: 45% · Canada, South Korea
• Languages at home: 13% English-only · Spanish 86%

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: ▼ -636.62%
• Current HPI: 477.6496
• Rent YoY: ▼ -8.20%
• 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

+437.7% since first listed

12 events — show timeline

• 2026-05-30 Listed $699,000 TheMLS
• 2016-11-30 Sold (MLS) $450,000 SDMLS
• 2016-11-30 Sold (MLS) $450,000 CRMLS
• 2016-11-29 Sold (Public Records) $450,000 Public Records
• 2016-10-14 Pending — CRMLS
• 2016-10-07 Sold (MLS) $450,000 CRMLS
• 2016-08-26 Pending — CRMLS
• 2016-08-17 Delisted — CRMLS
• 2016-07-19 Listed $450,000 CRMLS
• 2016-07-16 Listed $450,000 SDMLS
• 1994-05-31 Sold (Public Records) $145,000 Public Records
• 1993-09-01 Sold (Public Records) $130,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $6,782 · +2.2% YoY. Source: county tax records.