5335 Harmony Ave · Los Angeles, CA 91601

$1,350,000

6 bd · 8.0 ba · 2,297 sqft · MultiFamily public records · 189 Days on market

Built 1955 7,599 sqft lot Est $1013k · 33% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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: 8 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

We are proud to represent this 8 unit property in North Hollywood. The property was constructed in 1955. Its unit mix consists of (4) studio units and (4) 1+1 units. With a lot size of 7,514 square feet, the property has a total of 2,297 rentable square feet. North Hollywood offers many things to see and do, especially in its NoHo Arts District, which has been greatly expanding into a hip, pedestrian-friendly urban village. North Hollywood has historic shopping and interesting local restaurants and bars that make it a diverse, thriving neighborhood. It is home to many theatres, art galleries, cafes, music recording venues, and shops. Its residents have easy access of public transportation w

Key facts

• Historic shopping
• Art galleries
• Noho arts district

Tags

• NOHO ARTS DISTRICT
• HISTORIC SHOPPING
• LOCAL RESTAURANTS
• THEATRES
• ART GALLERIES
• MUSIC RECORDING VENUES

What this means for you Summary

Snapshot

• This is a 8 × 4-bed/8.0-bath units multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $8k ($96k/yr) — positive. Per door: $998/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($22k rent vs $1.35M).
• Recommended offer: $1.19M (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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 (-0.9%/yr); 89 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $22,088/mo this rent would consume 333% of the median local household income ($80k/yr) (locally 5323% 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $378k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($1.19M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $245k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,188,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% 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 1955 — 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: 1.64% ✓
• Cap rate: 13.39%
• Cash-on-cash: 25.35%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $1,012,977
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5738 N Klump Ave	0.68mi	5/— (-1)	2,380 (+4%)	6mo	$1,050,000	$441	52
10802 Morrison St	0.50mi	6/3.0	2,456 (+7%)	9mo	$1,000,000	$407	38

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: 15.4%
• Equity multiple: 1.60×
• Total profit: $225,492
• Equity at exit: $201,289

10-year hold

• IRR: 21.8%
• Equity multiple: 2.59×
• Total profit: $602,742
• 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 91601

• Rents YoY: -0.9%
• Active inventory: 89
• Price-to-rent: 40.7×

Monthly cashflow live

• Estimated rent: $22,088 medium
• Mortgage (P&I): −$7,080
• Tax from tax record: −$1,823 /mo · $21,870/yr
• Insurance: −$562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,638
• Net cashflow: $7,985

Break-even live

Break-even rent $11,980

Max offer price $1,350,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 8× units	4	8	$22,088
Total (8 units)			$22,088

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: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5340 Denny Ave North Hollywood, CA	5.0	5.5	2080	$4,995	$2.40	7d	1	0.17mi
4952 Placidia Ave North Hollywood, CA	6.0	4.0	2859	$13,750	$4.81	43d	1	0.80mi
4963 Clybourn Ave North Hollywood, CA	5.0	4.5	3350	$12,500	$3.73	43d	1	0.94mi

Listing history 15 events

1. 2026-06-18
   days on market $1,350,000 Active 189 DOM
2. 2026-06-17
   days on market $1,350,000 Active 188 DOM
3. 2026-06-16
   days on market $1,350,000 Active 187 DOM
4. 2026-06-15
   days on market $1,350,000 Active 186 DOM
5. 2026-06-13
   pricestatusdays on market $1,350,000 Active 184 DOM
6. 2025-11-13
   status Pending Sale
7. 2025-09-08
   price $1,345,000
8. 2025-08-25
   status Active
9. 2025-08-25
   price $1,395,000
10. 2025-07-01
    historical
11. 2025-03-20
    listed $1,595,000 Active
12. 2018-06-29
    soldstatus $1,550,000
13. 1989-08-07
    soldstatus $109,500
14. 1988-10-24
    soldstatus $240,000
15. 1987-11-23
    soldstatus $137,000

ⓘ 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: $21,870 · $1,823/mo
• Projected year-2 tax: $21,870 · $1,823/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 3/10 Moderate FEMA zone X (unshaded) · 9% 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 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $265,056
• − Mortgage interest: −$75,621
• − Property taxes: −$21,870
• − Insurance: −$6,750
• − Repairs & maintenance: −$21,204
• − Management: −$21,204
• − Depreciation: −$39,273
• Taxable income: $79,133
• Est. tax owed @ 24.0%: −$18,992
• After-tax cash flow: $76,827/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): 36,992
• Household income: $79,607
• Rent vs Own: 83.3% rent · 16.7% own
• Severe rent burden: 5323.0

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 0.69)
• Race & ethnicity: White 43% Hispanic / Latino 33% Two or more races 14% Black 10% Asian 8%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Scotch-Irish 3% Romanian 2% Italian 2%
• Foreign-born: 25% · Canada, China, South Korea
• Languages at home: 62% English-only · Spanish 25% Other Indo-European 4% Russian/Polish/Slavic 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: ▼ -883.97%
• Current HPI: 446.1574
• Rent YoY: ▼ -0.89%
• 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

+881.8% since first listed

10 events — show timeline

• 2025-11-13 Pending — CRMLS
• 2025-09-08 Price Changed $1,345,000 CRMLS
• 2025-08-25 Relisted — CRMLS
• 2025-08-25 Price Changed $1,395,000 CRMLS
• 2025-07-01 Listing Removed — CRMLS
• 2025-03-20 Listed $1,595,000 CRMLS
• 2018-06-29 Sold (Public Records) $1,550,000 Public Records
• 1989-08-07 Sold (Public Records) $109,500 Public Records
• 1988-10-24 Sold (Public Records) $240,000 Public Records
• 1987-11-23 Sold (Public Records) $137,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $21,870 · +1.0% YoY. Source: county tax records.