5274 Ithaca Ave · Los Angeles, CA 90032

$1,650,000

8 bd · 8.0 ba · 4,300 sqft · MultiFamily public records · 62 Days on market

Built 1963 9,604 sqft lot $384/sqft · 21% above area Est $1719k · at est.

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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 +26.2/30.0
• ARV discount +9.3/15.0
• DSCR +8.9/10.0
• 1% rule +6.7/10.0
• Rent growth +4.3/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 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

Located in the growing community of El Sereno, 5274 Ithaca Ave is a well-positioned 9-unit apartment building offered at$1,650,000. With a strong 7.23% Cap Rate and 8.59 GRM, this property provides immediate income along with long-term potential. The unit mix includes (1) 3-bed/1-bath, (4) 2-bed/1-bath, and (4) 1-bed/1-bath units spread across 5,439 square feet of living space. A large lot offers ADU development potential for added upside (buyer to verify). An excellent investment in a rapidly developing pocket of Northeast LA, with convenient access to Downtown, Highland Park, and surrounding neighborhoods

Key facts

• Convenient access
• Strong cap rate
• Excellent investment

Tags

• 9-UNIT APARTMENT BUILDING
• STRONG CAP RATE
• ADU DEVELOPMENT POTENTIAL
• EXCELLENT INVESTMENT
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 4×2bd/1ba + 4×1bd/1ba units multifamily listed at $1.65M.

Deal economics

• At list price, monthly cash flow is $4k ($50k/yr) — positive. Per door: $466/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $1.65M).
• Recommended offer: $1.55M (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 rising fast (+7.2%/yr); 153 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $19,285/mo this rent would consume 281% of the median local household income ($82k/yr) (locally 1522% 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 $11k of loan paydown is wiped out by about $50k 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 + 7.2% rent growth), your $462k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($1.55M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y 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.

Risks & watch-outs

• 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 $1,551,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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 1963 — 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: 1.17% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.90%
• DSCR: 1.49
• GRM: 7.1

CMA / ARV

• ARV (median comp): $1,718,757
• List price: $1,650,000
• Delta: -4.00%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.21% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $85,189
• Equity at exit: $246,020

10-year hold

• IRR: 17.5%
• Equity multiple: 2.73×
• Total profit: $799,849
• Equity at exit: $142,662

Cash invested: $462,000 (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 90032

• Rents YoY: 7.2%
• Active inventory: 153
• Price-to-rent: 52.6×

Monthly cashflow live

• Estimated rent: $19,285 medium
• Mortgage (P&I): −$8,653
• Tax from tax record: −$1,697 /mo · $20,368/yr
• Insurance: −$688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,050
• Net cashflow: $4,198

Break-even live

Break-even rent $13,972

Max offer price $1,650,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$2,616
▸ 4× units	2	1	$9,244
▸ 4× units	1	1	$7,424
Total (9 units)			$19,285

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: $412,500
• Closing costs: $49,500
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $1,650,000 Active 62 DOM
2. 2026-06-17
   days on market $1,650,000 Active 61 DOM
3. 2026-06-16
   days on market $1,650,000 Active 60 DOM
4. 2026-06-15
   days on market $1,650,000 Active 59 DOM
5. 2026-06-13
   days on market $1,650,000 Active 57 DOM
6. 2026-06-09
   days on market $1,650,000 Active 53 DOM
7. 2026-06-08
   days on market $1,650,000 Active 52 DOM
8. 2026-06-07
   days on market $1,650,000 Active 51 DOM
9. 2026-06-04
   days on market $1,650,000 Active 48 DOM
10. 2026-06-03
    days on market $1,650,000 Active 47 DOM
11. 2026-06-02
    days on market $1,650,000 Active 46 DOM
12. 2026-06-01
    days on market $1,650,000 Active 45 DOM
13. 2026-05-31
    days on market $1,650,000 Active 44 DOM
14. 2026-04-17
    listed $1,650,000 Active 614-char remark

    Show marketing remark (614 chars)

    Located in the growing community of El Sereno, 5274 Ithaca Ave is a well-positioned 9-unit apartment building offered at$1,650,000. With a strong 7.23% Cap Rate and 8.59 GRM, this property provides immediate income along with long-term potential. The unit mix includes (1) 3-bed/1-bath, (4) 2-bed/1-bath, and (4) 1-bed/1-bath units spread across 5,439 square feet of living space. A large lot offers ADU development potential for added upside (buyer to verify). An excellent investment in a rapidly developing pocket of Northeast LA, with convenient access to Downtown, Highland Park, and surrounding neighborhoods

15. 2025-11-17
    historical
16. 2025-11-10
    status Active
17. 2025-09-24
    historical Active Under Contract
18. 2025-05-29
    listed $1,700,000 Active
19. 2024-10-08
    listed Active
20. 2018-04-09
    soldstatus $1,442,000
21. 2012-12-18
    historical
22. 2012-11-25
    price $1,095,000
23. 2012-11-25
    listed $104,900,000 Active
24. 2008-03-21
    historical
25. 2007-12-09
    listed $1,049,000
26. 2007-11-06
    historical
27. 2007-06-20
    listed $1,085,000
28. 2004-11-16
    soldstatus $655,000

ⓘ 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: $20,368 · $1,697/mo
• Projected year-2 tax: $20,368 · $1,697/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 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $231,420
• − Mortgage interest: −$92,426
• − Property taxes: −$20,368
• − Insurance: −$8,250
• − Repairs & maintenance: −$18,514
• − Management: −$18,514
• − Depreciation: −$48,000
• Taxable income: $25,349
• Est. tax owed @ 24.0%: −$6,084
• After-tax cash flow: $44,287/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): 43,117
• Household income: $82,292
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 1522.0

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 (74%)
• Race & ethnicity: Hispanic / Latino 74% Two or more races 19% Asian 12% White 10% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Iranian 1%
• Foreign-born: 36% · Canada, China, South Korea
• Languages at home: 33% English-only · Spanish 57% Chinese 6% Tagalog/Filipino 1%

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: ▼ -1250.52%
• Current HPI: 507.2343
• Rent YoY: ▲ 7.21%
• 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

+151.9% since first listed

15 events — show timeline

• 2026-04-17 Listed $1,650,000 TheMLS
• 2025-11-17 Listing Removed — CRMLS
• 2025-11-10 Relisted — CRMLS
• 2025-09-24 Contingent — CRMLS
• 2025-05-29 Listed $1,700,000 CRMLS
• 2024-10-08 Listed — TheMLS
• 2018-04-09 Sold (Public Records) $1,442,000 Public Records
• 2012-12-18 Listing Removed — CRMLS
• 2012-11-25 Price Changed $1,095,000 CRMLS
• 2012-11-25 Listed $104,900,000 CRMLS
• 2008-03-21 Listing Removed — CRMLS
• 2007-12-09 Listed $1,049,000 CRMLS
• 2007-11-06 Listing Removed — CRMLS
• 2007-06-20 Listed $1,085,000 CRMLS
• 2004-11-16 Sold (Public Records) $655,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $20,368 · -1.0% YoY. Source: county tax records.