1037 S Bonnie Brae · Los Angeles, CA 90006

$1,699,000

6 bd · 4.0 ba · 3,524 sqft · MultiFamily public records · 106 Days on market

Built 1896 7,498 sqft lot $482/sqft · 73% above area

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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 +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Appreciation +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0

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

Property shows on tax records as Quad and is being use as a total of 8 units. 4 separate units with their own entrance and 4 bedrooms with access through the lobby on the front of the house. The four upstairs units are sharing a separate shower/tub room and completely separate toilet room. The property is in need of some TLC.

Key facts

• 7,498 sq ft lot
• Garage
• Built 1896

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath multifamily listed at $1.70M.

Deal economics

• At list price, monthly cash flow is $9k ($114k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $1.70M).
• Recommended offer: $1.55M (9.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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 (-0.8%/yr); 162 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $25,191/mo this rent would consume 581% of the median local household income ($52k/yr) (locally 5727% 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 $12k of loan paydown is wiped out by about $51k 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 $476k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($1.55M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y 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 $177k; list at $1.70M implies a 860% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,546,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1896 — 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. 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: 1.48% ✓
• Cap rate: 12.98%
• Cash-on-cash: 23.87%
• DSCR: 2.06
• GRM: 5.6

CMA / ARV

• ARV (median comp): $982,160
• List price: $1,699,000
• Delta: 72.99%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.8%
• Equity multiple: 1.53×
• Total profit: $253,087
• Equity at exit: $253,326

10-year hold

• IRR: 20.3%
• Equity multiple: 2.49×
• Total profit: $709,372
• Equity at exit: $146,898

Cash invested: $475,720 (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 90006

• Home prices YoY: -1.2%
• Rents YoY: -0.8%
• Active inventory: 162
• Price-to-rent: 45.0×

Monthly cashflow live

• Estimated rent: $25,191 medium
• Mortgage (P&I): −$8,910
• Tax from tax record: −$821 /mo · $9,854/yr
• Insurance: −$708
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,290
• Net cashflow: $9,462

Break-even live

Break-even rent $13,214

Max offer price $1,699,000

Occupancy floor 57%

Sensitivity live

Price	-10% $10,424	-5% $9,943	+0% $9,462	+5% $8,981	+10% $8,500
Rent	-10% $7,472	-5% $8,467	+0% $9,462	+5% $10,457	+10% $11,452
Rate	-1.0pp $10,318	-0.5pp $9,894	base $9,462	+0.5pp $9,022	+1.0pp $8,574

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

Units	Beds	Baths	Est. rent
▸ 8× units	4	2	$25,192
Total (8 units)			$25,191

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: $424,750
• Closing costs: $50,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1130 S Hoover St Los Angeles, CA	6.0	5.0	3264	$1,100	$0.34	44d	1	0.34mi
2317 Scarff St Unit B Los Angeles, CA	5.0	3.5	3000	$5,495	$1.83	0d	1	1.18mi
230 W Olympic Blvd Los Angeles, CA	1.0–5.0	1.0–6.0	2538	$29,277	$11.54	0d	43	1.27mi
1180 W Adams Blvd Los Angeles, CA	6.0	5.0	2916	$9,988	$3.43	11d	1	1.31mi
2601 S Hoover St Los Angeles, CA	8.0	1.0–8.0	1477	$11,175	$7.56	2d	1	1.32mi
150 N Coronado St Unit main Los Angeles, CA	5.0	2.0	2550	$4,800	$1.88	44d	1	1.41mi
2640 Menlo Ave Los Angeles, CA	2.0–9.0	2.0–7.5	2185	$8,257	$3.78	2d	2	1.45mi

Listing history 32 events

1. 2026-06-18
   days on market $1,699,000 Active 106 DOM
2. 2026-06-17
   days on market $1,699,000 Active 105 DOM
3. 2026-06-16
   days on market $1,699,000 Active 104 DOM
4. 2026-06-15
   days on market $1,699,000 Active 103 DOM
5. 2026-06-13
   days on market $1,699,000 Active 101 DOM
6. 2026-06-09
   days on market $1,699,000 Active 97 DOM
7. 2026-06-08
   days on market $1,699,000 Active 96 DOM
8. 2026-06-07
   days on market $1,699,000 Active 95 DOM
9. 2026-06-04
   days on market $1,699,000 Active 92 DOM
10. 2026-06-03
    days on market $1,699,000 Active 91 DOM
11. 2026-06-02
    days on market $1,699,000 Active 90 DOM
12. 2026-06-01
    days on market $1,699,000 Active 89 DOM
13. 2026-05-31
    days on market $1,699,000 Active 88 DOM
14. 2026-03-04
    listed $1,699,000 Active 327-char remark

    Show marketing remark (327 chars)

    Property shows on tax records as Quad and is being use as a total of 8 units. 4 separate units with their own entrance and 4 bedrooms with access through the lobby on the front of the house. The four upstairs units are sharing a separate shower/tub room and completely separate toilet room. The property is in need of some TLC.

15. 2025-12-31
    historical
16. 2025-06-27
    price $1,890,000
17. 2025-01-22
    price $1,995,000
18. 2024-07-10
    listed $2,199,000 Active
19. 2024-07-08
    historical
20. 2024-02-07
    listed $2,295,000 Active
21. 2023-02-15
    historical
22. 2022-07-25
    listed $1,999,999 Active
23. 2022-07-12
    historical
24. 2022-03-31
    listed $2,500,000 Active
25. 2022-02-10
    historical
26. 2021-11-18
    listed Active
27. 2021-11-10
    listed Active
28. 2021-11-09
    historical
29. 2021-09-28
    price $2,499,999
30. 2021-08-08
    listed $3,000,000 Active
31. 2000-03-06
    soldstatus $177,000
32. 1988-07-29
    soldstatus $190,000

ⓘ 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: $9,854 · $821/mo
• Projected year-2 tax: $12,912 · $1,076/mo
• Expected delta: +$3,058/yr (+$255/mo · 31.0%)

ⓘ 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 ≥90°F today · 21 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: $302,292
• − Mortgage interest: −$95,170
• − Property taxes: −$9,854
• − Insurance: −$8,495
• − Repairs & maintenance: −$24,183
• − Management: −$24,183
• − Depreciation: −$49,425
• Taxable income: $90,980
• Est. tax owed @ 24.0%: −$21,835
• After-tax cash flow: $91,709/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): 55,527
• Household income: $51,998
• Rent vs Own: 90.3% rent · 9.7% own
• Severe rent burden: 5727.0

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 (71%)
• Race & ethnicity: Hispanic / Latino 71% Asian 19% Two or more races 15% White 5% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 54% · Canada, South Korea, China
• Languages at home: 16% English-only · Spanish 65% Korean 13% 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: ▼ -4.73%
• Current HPI: 389.2079
• Rent YoY: ▼ -0.80%
• 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

+794.2% since first listed

19 events — show timeline

• 2026-03-04 Listed $1,699,000 CRMLS
• 2025-12-31 Listing Removed — CRMLS
• 2025-06-27 Price Changed $1,890,000 CRMLS
• 2025-01-22 Price Changed $1,995,000 CRMLS
• 2024-07-10 Listed $2,199,000 CRMLS
• 2024-07-08 Listing Removed — CRMLS
• 2024-02-07 Listed $2,295,000 CRMLS
• 2023-02-15 Listing Removed — CRMLS
• 2022-07-25 Listed $1,999,999 CRMLS
• 2022-07-12 Listing Removed — CRMLS
• 2022-03-31 Listed $2,500,000 CRMLS
• 2022-02-10 Delisted — TheMLS
• 2021-11-18 Listed — TheMLS
• 2021-11-10 Listed — TheMLS
• 2021-11-09 Listing Removed — CRMLS
• 2021-09-28 Price Changed $2,499,999 CRMLS
• 2021-08-08 Listed $3,000,000 CRMLS
• 2000-03-06 Sold (Public Records) $177,000 Public Records
• 1988-07-29 Sold (Public Records) $190,000 Public Records

Property tax history

+7.1%/yr

Latest (2025): $9,854 · +1.1% YoY. Source: county tax records.