248 S Occidental · Los Angeles, CA 90057

$3,900,000

24 bd · 23.0 ba · 18,654 sqft · MultiFamily public records · 199 Days on market

Built 1962 9,945 sqft lot $209/sqft · at area comps Est $4069k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +9.4/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Appreciation +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 21 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

High-Performing 21-Unit Asset in Prime Los Angeles — CAP 6% and First Time on the Market in 20 Years! This rare offering delivers strong in-place income with a solid 6% CAP rate in one of Los Angeles’ most desirable rental markets. The property features a balanced and attractive unit mix: nineteen one-bedroom units, one two-bedroom unit, and a standout three-bedroom rooftop penthouse with its own private outdoor space—ideal for commanding premium rents. Located in a high-demand neighborhood, the building enjoys consistently strong occupancy and stable rental income, supported by immediate access to shopping, dining, and public transit. With room for value-add upgrades and rent growth, this asset offers both steady cash flow and significant long-term upside. Don’t miss this rare chance to acquire a high-yield property in a top-tier Los Angeles location!

Key facts

• Nearby dining
• Nearby shopping
• 9,945 sq ft lot

Tags

• THREE-BEDROOM PENTHOUSE
• PRIVATE OUTDOOR SPACE
• HIGH-DEMAND NEIGHBORHOOD
• STRONG OCCUPANCY RATE
• NEARBY SHOPPING
• NEARBY DINING

What this means for you Summary

Snapshot

• This is a 21 × 24-bed/22.0-bath units multifamily listed at $3.90M.

Deal economics

• At list price, monthly cash flow is $21k ($247k/yr) — positive. Per door: $980/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($58k rent vs $3.90M).
• Recommended offer: $3.43M (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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 (-4.1%/yr); 45 active listings in the ZIP; lower-income renter base — watch delinquency; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $57,556/mo this rent would consume 1541% of the median local household income ($45k/yr) (locally 5064% 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 $27k of loan paydown is wiped out by about $117k 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 $1.09M cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($3.43M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $990k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.07M; list at $3.90M implies a 264% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,432,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 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 1962 — 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: 1.48% ✓
• Cap rate: 12.63%
• Cash-on-cash: 22.62%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (median comp): $4,069,389
• List price: $3,900,000
• Delta: -4.16%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.47×
• Total profit: $509,732
• Equity at exit: $581,503

10-year hold

• IRR: 18.7%
• Equity multiple: 2.35×
• Total profit: $1,478,214
• Equity at exit: $337,201

Cash invested: $1,092,000 (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 90057

• Home prices YoY: -1.1%
• Rents YoY: -4.1%
• Active inventory: 45
• Price-to-rent: 118.6×

Monthly cashflow live

• Estimated rent: $57,556 medium
• Mortgage (P&I): −$20,452
• Tax from tax record: −$2,812 /mo · $33,742/yr
• Insurance: −$1,625
• HOA: −$0
• Vacancy / Maint / Mgmt: −$12,087
• Net cashflow: $20,580

Break-even live

Break-even rent $31,505

Max offer price $3,900,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 21× units	24	22	$57,561
Total (21 units)			$57,556

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: $975,000
• Closing costs: $117,000
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $3,900,000 Active 199 DOM
2. 2026-06-17
   days on market $3,900,000 Active 198 DOM
3. 2026-06-16
   days on market $3,900,000 Active 197 DOM
4. 2026-06-15
   days on market $3,900,000 Active 196 DOM
5. 2026-06-13
   days on market $3,900,000 Active 194 DOM
6. 2026-06-09
   days on market $3,900,000 Active 190 DOM
7. 2026-06-08
   days on market $3,900,000 Active 189 DOM
8. 2026-06-07
   days on market $3,900,000 Active 188 DOM
9. 2026-06-04
   days on market $3,900,000 Active 185 DOM
10. 2026-06-03
    days on market $3,900,000 Active 184 DOM
11. 2026-06-02
    days on market $3,900,000 Active 183 DOM
12. 2026-06-01
    days on market $3,900,000 Active 182 DOM
13. 2026-05-31
    days on market $3,900,000 Active 181 DOM
14. 2026-05-17
    price $3,900,000 889-char remark

    Show marketing remark (889 chars)

    High-Performing 21-Unit Asset in Prime Los Angeles — CAP 6% and First Time on the Market in 20 Years! This rare offering delivers strong in-place income with a solid 6% CAP rate in one of Los Angeles’ most desirable rental markets. The property features a balanced and attractive unit mix: nineteen one-bedroom units, one two-bedroom unit, and a standout three-bedroom rooftop penthouse with its own private outdoor space—ideal for commanding premium rents. Located in a high-demand neighborhood, the building enjoys consistently strong occupancy and stable rental income, supported by immediate access to shopping, dining, and public transit. With room for value-add upgrades and rent growth, this asset offers both steady cash flow and significant long-term upside. Don’t miss this rare chance to acquire a high-yield property in a top-tier Los Angeles location!

15. 2026-05-14
    price $3,800,000 889-char remark

    Show marketing remark (889 chars)

    High-Performing 21-Unit Asset in Prime Los Angeles — CAP 6% and First Time on the Market in 20 Years! This rare offering delivers strong in-place income with a solid 6% CAP rate in one of Los Angeles’ most desirable rental markets. The property features a balanced and attractive unit mix: nineteen one-bedroom units, one two-bedroom unit, and a standout three-bedroom rooftop penthouse with its own private outdoor space—ideal for commanding premium rents. Located in a high-demand neighborhood, the building enjoys consistently strong occupancy and stable rental income, supported by immediate access to shopping, dining, and public transit. With room for value-add upgrades and rent growth, this asset offers both steady cash flow and significant long-term upside. Don’t miss this rare chance to acquire a high-yield property in a top-tier Los Angeles location!

16. 2026-04-27
    price $3,900,000 889-char remark

    Show marketing remark (889 chars)

    High-Performing 21-Unit Asset in Prime Los Angeles — CAP 6% and First Time on the Market in 20 Years! This rare offering delivers strong in-place income with a solid 6% CAP rate in one of Los Angeles’ most desirable rental markets. The property features a balanced and attractive unit mix: nineteen one-bedroom units, one two-bedroom unit, and a standout three-bedroom rooftop penthouse with its own private outdoor space—ideal for commanding premium rents. Located in a high-demand neighborhood, the building enjoys consistently strong occupancy and stable rental income, supported by immediate access to shopping, dining, and public transit. With room for value-add upgrades and rent growth, this asset offers both steady cash flow and significant long-term upside. Don’t miss this rare chance to acquire a high-yield property in a top-tier Los Angeles location!

17. 2026-04-01
    price $4,390,000 889-char remark

    Show marketing remark (889 chars)

    High-Performing 21-Unit Asset in Prime Los Angeles — CAP 6% and First Time on the Market in 20 Years! This rare offering delivers strong in-place income with a solid 6% CAP rate in one of Los Angeles’ most desirable rental markets. The property features a balanced and attractive unit mix: nineteen one-bedroom units, one two-bedroom unit, and a standout three-bedroom rooftop penthouse with its own private outdoor space—ideal for commanding premium rents. Located in a high-demand neighborhood, the building enjoys consistently strong occupancy and stable rental income, supported by immediate access to shopping, dining, and public transit. With room for value-add upgrades and rent growth, this asset offers both steady cash flow and significant long-term upside. Don’t miss this rare chance to acquire a high-yield property in a top-tier Los Angeles location!

18. 2026-02-23
    price $4,400,000 889-char remark

    Show marketing remark (889 chars)

    High-Performing 21-Unit Asset in Prime Los Angeles — CAP 6% and First Time on the Market in 20 Years! This rare offering delivers strong in-place income with a solid 6% CAP rate in one of Los Angeles’ most desirable rental markets. The property features a balanced and attractive unit mix: nineteen one-bedroom units, one two-bedroom unit, and a standout three-bedroom rooftop penthouse with its own private outdoor space—ideal for commanding premium rents. Located in a high-demand neighborhood, the building enjoys consistently strong occupancy and stable rental income, supported by immediate access to shopping, dining, and public transit. With room for value-add upgrades and rent growth, this asset offers both steady cash flow and significant long-term upside. Don’t miss this rare chance to acquire a high-yield property in a top-tier Los Angeles location!

19. 2026-01-08
    price $4,500,000 889-char remark

    Show marketing remark (889 chars)

    High-Performing 21-Unit Asset in Prime Los Angeles — CAP 6% and First Time on the Market in 20 Years! This rare offering delivers strong in-place income with a solid 6% CAP rate in one of Los Angeles’ most desirable rental markets. The property features a balanced and attractive unit mix: nineteen one-bedroom units, one two-bedroom unit, and a standout three-bedroom rooftop penthouse with its own private outdoor space—ideal for commanding premium rents. Located in a high-demand neighborhood, the building enjoys consistently strong occupancy and stable rental income, supported by immediate access to shopping, dining, and public transit. With room for value-add upgrades and rent growth, this asset offers both steady cash flow and significant long-term upside. Don’t miss this rare chance to acquire a high-yield property in a top-tier Los Angeles location!

20. 2025-12-09
    price $4,600,000 889-char remark

    Show marketing remark (889 chars)

    High-Performing 21-Unit Asset in Prime Los Angeles — CAP 6% and First Time on the Market in 20 Years! This rare offering delivers strong in-place income with a solid 6% CAP rate in one of Los Angeles’ most desirable rental markets. The property features a balanced and attractive unit mix: nineteen one-bedroom units, one two-bedroom unit, and a standout three-bedroom rooftop penthouse with its own private outdoor space—ideal for commanding premium rents. Located in a high-demand neighborhood, the building enjoys consistently strong occupancy and stable rental income, supported by immediate access to shopping, dining, and public transit. With room for value-add upgrades and rent growth, this asset offers both steady cash flow and significant long-term upside. Don’t miss this rare chance to acquire a high-yield property in a top-tier Los Angeles location!

21. 2025-12-01
    listed $4,890,000 Active 889-char remark

    Show marketing remark (889 chars)

    High-Performing 21-Unit Asset in Prime Los Angeles — CAP 6% and First Time on the Market in 20 Years! This rare offering delivers strong in-place income with a solid 6% CAP rate in one of Los Angeles’ most desirable rental markets. The property features a balanced and attractive unit mix: nineteen one-bedroom units, one two-bedroom unit, and a standout three-bedroom rooftop penthouse with its own private outdoor space—ideal for commanding premium rents. Located in a high-demand neighborhood, the building enjoys consistently strong occupancy and stable rental income, supported by immediate access to shopping, dining, and public transit. With room for value-add upgrades and rent growth, this asset offers both steady cash flow and significant long-term upside. Don’t miss this rare chance to acquire a high-yield property in a top-tier Los Angeles location!

22. 2025-11-30
    historical
23. 2025-09-04
    listed $4,990,000 Active
24. 2025-08-25
    historical
25. 2025-04-03
    price $4,990,000
26. 2025-02-26
    listed $5,250,000 Active
27. 2005-04-18
    soldstatus $1,072,010

ⓘ 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: $33,742 · $2,812/mo
• Projected year-2 tax: $33,742 · $2,812/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 ≥92°F today · 21 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: $690,672
• − Mortgage interest: −$218,461
• − Property taxes: −$33,742
• − Insurance: −$19,500
• − Repairs & maintenance: −$55,254
• − Management: −$55,254
• − Depreciation: −$113,455
• Taxable income: $195,007
• Est. tax owed @ 24.0%: −$46,802
• After-tax cash flow: $200,162/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): 46,629
• Household income: $44,823
• Rent vs Own: 96.2% rent · 3.8% own
• Severe rent burden: 5064.0

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 (68%)
• Race & ethnicity: Hispanic / Latino 68% Asian 18% Two or more races 11% Black 7% White 5% Native American 4%
• Hispanic origin (detail): Mexican 28%
• Foreign-born: 55% · Canada, South Korea, China
• Languages at home: 19% English-only · Spanish 62% Korean 10% Tagalog/Filipino 5%

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: ▼ -4.79%
• Current HPI: 446.8368
• Rent YoY: ▼ -4.06%
• 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

+263.8% since first listed

14 events — show timeline

• 2026-05-17 Price Changed $3,900,000 CRMLS
• 2026-05-14 Price Changed $3,800,000 CRMLS
• 2026-04-27 Price Changed $3,900,000 CRMLS
• 2026-04-01 Price Changed $4,390,000 CRMLS
• 2026-02-23 Price Changed $4,400,000 CRMLS
• 2026-01-08 Price Changed $4,500,000 CRMLS
• 2025-12-09 Price Changed $4,600,000 CRMLS
• 2025-12-01 Listed $4,890,000 CRMLS
• 2025-11-30 Listing Removed — CRMLS
• 2025-09-04 Listed $4,990,000 CRMLS
• 2025-08-25 Listing Removed — CRMLS
• 2025-04-03 Price Changed $4,990,000 CRMLS
• 2025-02-26 Listed $5,250,000 CRMLS
• 2005-04-18 Sold (Public Records) $1,072,010 Public Records

Property tax history

+1.6%/yr

Latest (2025): $33,742 · +1.7% YoY. Source: county tax records.