20234 Roscoe Blvd · Los Angeles, CA 91306

$4,750,000

56 bd · 26.0 ba · 24,176 sqft · MultiFamily public records · 78 Days on market

Built 1964 0.72 ac lot

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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 +8.6/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• 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: 25 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

25-unit fee simple LIHTC multifamily asset in Winnetka. Built in 1964 and placed in service in 1997 under the 9% LIHTC program. The property is governed by a 30-year regulatory agreement set to expire in July 2027, after which all income and rent restrictions are eligible to sunset. Subject to Los Angeles Rent Stabilization Ordinance (RSO). Current unit mix includes 4x1BR, 13x2BR, 7x3BR, and 1x4BR. As of July 2025, 42% of units are leased to Section 8 voucher holders. Asset includes 29 gated parking spaces, an on-site laundry facility with five washers and four dryers, and AT & T fiber infrastructure. Ground-floor leasing office and rec room present ADU conversion potential post-expirat

Key facts

• Rec room
• Gated parking spaces
• 0.72 acre lot

Tags

• GATED PARKING SPACES
• ON-SITE LAUNDRY FACILITY
• AT AND T FIBER INFRASTRUCTURE
• GROUND-FLOOR LEASING OFFICE
• REC ROOM
• ADU CONVERSION POTENTIAL

What this means for you Summary

Snapshot

• This is a 25 × 2-bed/1.0-bath units multifamily listed at $4.75M.

Deal economics

• At list price, monthly cash flow is $18k ($221k/yr) — positive. Per door: $736/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($65k rent vs $4.75M).
• Recommended offer: $4.46M (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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 (+3.2%/yr); 83 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 $64,828/mo this rent would consume 835% of the median local household income ($93k/yr) (locally 2276% 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 $33k of loan paydown is wiped out by about $142k 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 + 3.2% rent growth), your $1.33M cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($4.46M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $2.08M; list at $4.75M implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $4,465,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1964 — 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: 1.36% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.59%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.16% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.31×
• Total profit: $412,865
• Equity at exit: $708,240

10-year hold

• IRR: 17.3%
• Equity multiple: 2.44×
• Total profit: $1,914,549
• Equity at exit: $410,693

Cash invested: $1,330,000 (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 91306

• Rents YoY: 3.2%
• Active inventory: 83
• Price-to-rent: 152.6×

Monthly cashflow live

• Estimated rent: $64,828 high
• Mortgage (P&I): −$24,910
• Tax est. 1.5%: −$5,938 /mo · $71,250/yr
• Insurance: −$1,979
• HOA: −$0
• Vacancy / Maint / Mgmt: −$13,614
• Net cashflow: $18,388

Break-even live

Break-even rent $41,552

Max offer price $4,750,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 25× units	2	1	$64,825
Total (25 units)			$64,828

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: $1,187,500
• Closing costs: $142,500
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2025-09-26
   status Pending
2. 2025-08-12
   price $4,750,000
3. 2025-07-10
   listed $4,990,000 Active
4. 2015-07-24
   soldstatus $2,075,000
5. 1995-06-02
   soldstatus $850,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $777,936
• − Mortgage interest: −$266,074
• − Property taxes: −$71,250
• − Insurance: −$23,750
• − Repairs & maintenance: −$62,235
• − Management: −$62,235
• − Depreciation: −$138,182
• Taxable income: $154,211
• Est. tax owed @ 24.0%: −$37,011
• After-tax cash flow: $183,645/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): 47,176
• Household income: $93,151
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 2276.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 47% White 24% Asian 20% Two or more races 14% Black 3%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Italian 1% Romanian 1% Subsaharan African 1%
• Foreign-born: 43% · Canada, Vietnam, South Korea
• Languages at home: 37% English-only · Spanish 40% Other Indo-European 7% Vietnamese 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: ▼ -848.31%
• Current HPI: 447.7638
• Rent YoY: ▲ 3.16%
• 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

+458.8% since first listed

5 events — show timeline

• 2025-09-26 Pending — TheMLS
• 2025-08-12 Price Changed $4,750,000 TheMLS
• 2025-07-10 Listed $4,990,000 TheMLS
• 2015-07-24 Sold (Public Records) $2,075,000 Public Records
• 1995-06-02 Sold (Public Records) $850,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $3,152 · +11.0% YoY. Source: county tax records.