11903 Burbank Blvd · Los Angeles, CA 91607

$1,925,000

4 bd · 4.0 ba · 1,720 sqft · MultiFamily public records · 139 Days on market

Built 1948 10,243 sqft lot $1119/sqft · 122% above area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

An exceptional development opportunity awaits at 11903 Burbank Boulevard, a fully entitled multifamily development site located in the highly desirable neighborhood of Valley Village, California. This offering presents a unique chance for a developer to acquire a project with approvals in place for a 23-unit modern apartment building spanning six stories above grade with the potential for an additional 3 to 4 ADUs to be added (Buyer to conduct their own investigations. ) This 10,259 square foot corner lot at the intersection of Burbank Boulevard and Radford Avenue is currently an existing 4-unit multifamily property with 3 units being tenant occupied. It has been entitled under the Transit Oriented Communities (TOC) Tier 3 program, providing significant density bonuses that maximize the site's development potential. The current approvals encompass a well-designed mix of studios, one-bedroom, and two-bedroom units, complete with subterranean parking and modern resident amenities.

Key facts

• Subterranean parking
• Density bonuses
• Fully entitled

Tags

• MULTIFAMILY DEVELOPMENT SITE
• FULLY ENTITLED
• TRANSIT ORIENTED COMMUNITIES
• DENSITY BONUSES
• CORNER LOT
• SUBTERRANEAN PARKING

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $1.93M.

Deal economics

• At list price, monthly cash flow is $59k ($709k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($91k rent vs $1.93M).
• Recommended offer: $1.69M (12.0% below list) — sets the bar for market timing.
• Cap rate 43.1% 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 (-1.1%/yr); 90 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $90,514/mo this rent would consume 1236% of the median local household income ($88k/yr) (locally 3099% 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 $13k of loan paydown is wiped out by about $58k 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 $539k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($1.69M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 16y 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 $1.35M; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $1,694,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 4.70% ✓
• Cap rate: 43.15%
• Cash-on-cash: 131.62%
• DSCR: 6.86
• GRM: 1.8

CMA / ARV

• ARV (median comp): $867,969
• List price: $1,925,000
• Delta: 121.78%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5734 Colfax Ave	0.33mi	3/2.0 (-1)	1,517 (-12%)	4mo	$880,000	$580	49
11840 Magnolia Blvd	0.53mi	3/3.0 (-1)	1,902 (+11%)	17mo	$960,000	$505	35

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: —
• Equity multiple: 6.92×
• Total profit: $3,188,862
• Equity at exit: $287,024

10-year hold

• IRR: —
• Equity multiple: 13.25×
• Total profit: $6,603,302
• Equity at exit: $166,439

Cash invested: $539,000 (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 91607

• Rents YoY: -1.1%
• Active inventory: 90
• Price-to-rent: 40.8×

Monthly cashflow live

• Estimated rent: $90,514 high
• Mortgage (P&I): −$10,095
• Tax from tax record: −$1,491 /mo · $17,894/yr
• Insurance: −$802
• HOA: −$0
• Vacancy / Maint / Mgmt: −$19,008
• Net cashflow: $59,118

Break-even live

Break-even rent $15,681

Max offer price $1,925,000

Occupancy floor 30%

Sensitivity live

Price	-10% $60,208	-5% $59,663	+0% $59,118	+5% $58,573	+10% $58,028
Rent	-10% $51,967	-5% $55,543	+0% $59,118	+5% $62,693	+10% $66,269
Rate	-1.0pp $60,087	-0.5pp $59,608	base $59,118	+0.5pp $58,619	+1.0pp $58,112

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

Units	Beds	Baths	Est. rent
▸ 23× units	4	4	$90,505
Total (23 units)			$90,514

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: $481,250
• Closing costs: $57,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5555 Carpenter Ave Unit 4 Valley Village, CA	3.0	2.5	1800	$4,180	$2.32	9d	1	0.04mi
5651 Radford Ave Valley Village, CA	4.0	3.0	1935	$5,500	$2.84	19d	1	0.12mi
5439 Carpenter Ave Valley Village, CA	3.0	2.0	1769	$6,250	$3.53	16d	1	0.15mi
5419 Gentry Ave Valley Village, CA	3.0	2.0	1650	$5,999	$3.64	26d	1	0.21mi
5416 Morella Ave Valley Village, CA	3.0	2.0	2072	$7,000	$3.38	26d	1	0.23mi
5415 Simpson Ave Valley Village, CA	3.0	1.0	1200	$7,500	$6.25	45d	1	0.25mi
5321 Ben Ave Unit 1 Valley Village, CA	4.0	3.0	1945	$6,000	$3.08	45d	1	0.35mi
5317 Ben Ave Valley Village, CA	3.0	3.0	1411	$4,695	$3.33	6d	1	0.37mi
5313 Ben Ave Unit 1 Valley Village, CA	4.0	3.5	1915	$5,695	$2.97	6d	1	0.37mi
5740 Vantage Ave Valley Village, CA	4.0	3.0	2078	$8,500	$4.09	45d	1	0.37mi
12039 Weddington St Valley Village, CA	3.0	2.0	1962	$7,950	$4.05	45d	1	0.41mi
11556 Burbank Blvd North Hollywood, CA	3.0–4.0	2.0–3.0	1602	$3,795	$2.37	3d	2	0.41mi
12243 Collins St Valley Village, CA	3.0	2.0	1711	$6,600	$3.86	45d	1	0.49mi
5343 Lemp Ave Valley Village, CA	3.0	2.0	2000	$5,553	$2.78	45d	1	0.49mi
5923 Laurel Canyon Blvd Valley Village, CA	2.0–3.0	2.0	1312	$3,600	$2.74	45d	2	0.50mi
5938 Simpson Ave Valley Village, CA	3.0	2.0	1152	$4,000	$3.47	26d	1	0.51mi
5950 Simpson Ave Unit NA North Hollywood, CA	3.0	2.0	1791	$5,500	$3.07	45d	1	0.52mi
11905 Hartsook St Valley Village, CA	3.0	3.0	2083	$7,999	$3.84	13d	1	0.54mi
5253 Vantage Ave #202 Valley Village, CA	3.0	2.0	1680	$5,600	$3.33	45d	1	0.54mi
5736 Beck Ave North Hollywood, CA	3.0	2.5	1200	$4,500	$3.75	26d	1	0.55mi
5255 Bellingham Ave #205 Valley Village, CA	3.0	3.0	1349	$3,450	$2.56	26d	1	0.57mi
11488 Burbank Blvd North Hollywood, CA	3.0	3.5	1855	$4,500	$2.43	5d	1	0.58mi
5424 Camellia Ave North Hollywood, CA	3.0	3.5	1660	$4,525	$2.73	45d	1	0.59mi
11524 Emelita St North Hollywood, CA	4.0	4.0	1650	$4,795	$2.91	45d	1	0.60mi
11522 Emelita St North Hollywood, CA	4.0	4.0	1328	$3,500	$2.64	15d	1	0.60mi
11522 Emelita St North Hollywood, CA	4.0	4.0	1433	$3,950	$2.76	45d	1	0.60mi
5119 Colfax Ave Unit 301 North Hollywood, CA	3.0	2.0	1762	$6,200	$3.52	45d	1	0.61mi
5119 Colfax Ave Unit 201 North Hollywood, CA	3.0	2.0	1862	$5,300	$2.85	18d	1	0.61mi
5119 Colfax Ave Unit 202 North Hollywood, CA	3.0	2.0	1739	$5,400	$3.11	18d	1	0.61mi
6057 Morella Ave North Hollywood, CA	3.0	2.0	1521	$4,500	$2.96	14d	1	0.63mi
12402 Killion St Valley Village, CA	3.0	1.5	1809	$4,750	$2.63	45d	1	0.65mi
5331 Corteen Pl Valley Village, CA	3.0	2.0	1132	$3,853	$3.40	3d	1	0.66mi
12400 Cumpston St Valley Village, CA	3.0	3.5	1350	$4,500	$3.33	26d	1	0.67mi
5057 Colfax Ave North Hollywood, CA	3.0	2.0	1100	$4,200	$3.82	45d	1	0.67mi
6064 Colfax Ave North Hollywood, CA	3.0	3.0	1541	$3,400	$2.21	45d	1	0.69mi
5044 Laurel Canyon Blvd Valley Village, CA	3.0	3.0	1300	$3,839	$2.95	45d	1	0.70mi
5216 Corteen Pl Valley Village, CA	3.0	2.0	1300	$3,100	$2.38	45d	1	0.71mi
11443 Hatteras St North Hollywood, CA	3.0	3.0	1152	$3,499	$3.04	26d	1	0.72mi
11443 Hatteras St North Hollywood, CA	3.0	3.0	1152	$3,499	$3.04	25d	1	0.72mi
11443 Hatteras St North Hollywood, CA	3.0	3.0	1184	$3,499	$2.96	9d	1	0.72mi

Listing history 36 events

1. 2026-06-18
   days on market $1,925,000 Active 139 DOM
2. 2026-06-17
   days on market $1,925,000 Active 138 DOM
3. 2026-06-16
   days on market $1,925,000 Active 137 DOM
4. 2026-06-15
   days on market $1,925,000 Active 136 DOM
5. 2026-06-13
   days on market $1,925,000 Active 134 DOM
6. 2026-06-09
   days on market $1,925,000 Active 130 DOM
7. 2026-06-08
   days on market $1,925,000 Active 129 DOM
8. 2026-06-07
   days on market $1,925,000 Active 128 DOM
9. 2026-06-04
   days on market $1,925,000 Active 125 DOM
10. 2026-06-03
    days on market $1,925,000 Active 124 DOM
11. 2026-06-02
    days on market $1,925,000 Active 123 DOM
12. 2026-06-01
    days on market $1,925,000 Active 122 DOM
13. 2026-05-31
    days on market $1,925,000 Active 121 DOM
14. 2026-03-13
    price $1,925,000 993-char remark

    Show marketing remark (993 chars)

    An exceptional development opportunity awaits at 11903 Burbank Boulevard, a fully entitled multifamily development site located in the highly desirable neighborhood of Valley Village, California. This offering presents a unique chance for a developer to acquire a project with approvals in place for a 23-unit modern apartment building spanning six stories above grade with the potential for an additional 3 to 4 ADUs to be added (Buyer to conduct their own investigations. ) This 10,259 square foot corner lot at the intersection of Burbank Boulevard and Radford Avenue is currently an existing 4-unit multifamily property with 3 units being tenant occupied. It has been entitled under the Transit Oriented Communities (TOC) Tier 3 program, providing significant density bonuses that maximize the site's development potential. The current approvals encompass a well-designed mix of studios, one-bedroom, and two-bedroom units, complete with subterranean parking and modern resident amenities.

15. 2026-01-30
    listed $2,000,000 Active 993-char remark

    Show marketing remark (993 chars)

    An exceptional development opportunity awaits at 11903 Burbank Boulevard, a fully entitled multifamily development site located in the highly desirable neighborhood of Valley Village, California. This offering presents a unique chance for a developer to acquire a project with approvals in place for a 23-unit modern apartment building spanning six stories above grade with the potential for an additional 3 to 4 ADUs to be added (Buyer to conduct their own investigations. ) This 10,259 square foot corner lot at the intersection of Burbank Boulevard and Radford Avenue is currently an existing 4-unit multifamily property with 3 units being tenant occupied. It has been entitled under the Transit Oriented Communities (TOC) Tier 3 program, providing significant density bonuses that maximize the site's development potential. The current approvals encompass a well-designed mix of studios, one-bedroom, and two-bedroom units, complete with subterranean parking and modern resident amenities.

16. 2024-08-31
    historical
17. 2024-06-12
    price $2,750,000
18. 2024-05-28
    price $2,850,000
19. 2024-05-28
    listed $2,800,000 Active
20. 2020-08-31
    soldstatus $1,350,000 Closed Sale
21. 2020-08-31
    soldstatus $1,350,000
22. 2020-07-27
    status Pending Sale
23. 2020-07-01
    historical Active Under Contract
24. 2020-06-23
    listed $1,300,000 Active
25. 2016-08-23
    historical Expired
26. 2016-08-23
    historical
27. 2016-08-23
    historical
28. 2016-08-23
    historical
29. 2016-02-25
    listed $1,499,000 Active
30. 2016-02-25
    listed Active
31. 2016-02-23
    listed $1,499,000
32. 2016-02-23
    listed $1,499,000
33. 2011-02-03
    soldstatus $407,000 Closed
34. 2010-12-29
    status Pending
35. 2010-11-20
    listed $364,900 Active
36. 1999-07-16
    soldstatus $201,000

ⓘ 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: $17,894 · $1,491/mo
• Projected year-2 tax: $17,894 · $1,491/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 ≥97°F today · 22 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: $1,086,168
• − Mortgage interest: −$107,830
• − Property taxes: −$17,894
• − Insurance: −$9,625
• − Repairs & maintenance: −$86,893
• − Management: −$86,893
• − Depreciation: −$56,000
• Taxable income: $721,032
• Est. tax owed @ 24.0%: −$173,048
• After-tax cash flow: $536,367/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): 31,890
• Household income: $87,874
• Rent vs Own: 70.1% rent · 29.9% own
• Severe rent burden: 3099.0

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: White 57% Hispanic / Latino 21% Two or more races 15% Asian 8% Black 7%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Scotch-Irish 4% Romanian 3% Subsaharan African 2%
• Foreign-born: 29% · Canada, Vietnam, Jamaica
• Languages at home: 61% English-only · Spanish 16% Other Indo-European 9% Russian/Polish/Slavic 7%

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: ▼ -861.04%
• Current HPI: 464.0519
• Rent YoY: ▼ -1.13%
• 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

+857.7% since first listed

23 events — show timeline

• 2026-03-13 Price Changed $1,925,000 TheMLS
• 2026-01-30 Listed $2,000,000 TheMLS
• 2024-08-31 Listing Removed — CRMLS
• 2024-06-12 Price Changed $2,750,000 CRMLS
• 2024-05-28 Price Changed $2,850,000 CRMLS
• 2024-05-28 Listed $2,800,000 CRMLS
• 2020-08-31 Sold (Public Records) $1,350,000 Public Records
• 2020-08-31 Sold (MLS) $1,350,000 CRMLS
• 2020-07-27 Pending — CRMLS
• 2020-07-01 Contingent — CRMLS
• 2020-06-23 Listed $1,300,000 CRMLS
• 2016-08-23 Listing Removed — SDMLS
• 2016-08-23 Listing Removed — CRMLS
• 2016-08-23 Listing Removed — SDMLS
• 2016-08-23 Delisted — TheMLS
• 2016-02-25 Listed $1,499,000 CRMLS
• 2016-02-25 Listed — TheMLS
• 2016-02-23 Listed $1,499,000 SDMLS
• 2016-02-23 Listed $1,499,000 SDMLS
• 2011-02-03 Sold (MLS) $407,000 TheMLS
• 2010-12-29 Pending — TheMLS
• 2010-11-20 Listed $364,900 TheMLS
• 1999-07-16 Sold (Public Records) $201,000 Public Records

Property tax history

+10.8%/yr

Latest (2025): $17,894 · +1.4% YoY. Source: county tax records.