1017 S Shenandoah St · Los Angeles, CA 90035

$1,995,000

7 bd · 7.0 ba · 5,056 sqft · MultiFamily public records · 130 Days on market

Built 1955 6,010 sqft lot $395/sqft · 7% below area Est $2152k · 7% under

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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).

• ARV discount +10.8/15.0
• Cash flow +9.5/30.0
• Appreciation +6.4/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 1% rule +2.9/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Discover 1017 S Shenandoah St, a charming 6-unit multifamily building in Pico-Robertson. This well-maintained property offers a diverse unit mix, including one studio, three 1-bedroom units, one 2-bedroom unit, and one spacious 3-bedroom unit, all fully occupied. Situated in a vibrant neighborhood, residents enjoy proximity to amenities like restaurants, coffee shops, and grocery stores. Nearby attractions such as La Cienega Park and the Beverly Center offer recreation and shopping options. The property's strategic location provides easy access to major freeways, ensuring seamless commutes. Constructed in 1955 on a 6,010 square foot lot, it combines timeless charm with modern conveniences. Investors will benefit from stable cash flow and the potential for future appreciation in this thriving area. Don't miss this opportunity to own a piece of Los Angeles real estate in a prime location known for its community feel and urban conveniences.

Key facts

• Nearby attractions
• Modern conveniences
• Multifamily building

Tags

• MULTIFAMILY BUILDING
• PROXIMITY TO AMENITIES
• NEARBY ATTRACTIONS
• EASY ACCESS TO MAJOR FREEWAYS
• MODERN CONVENIENCES

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1-bath units multifamily listed at $2.00M.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative. Per door: $-232/mo.
• To cash-flow at today's rent, offer at most $1.79M (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.57M (21.3% below list).
• Recommended offer: $1.57M (21.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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-, crime F, cost of living 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.
• Zoned schools: Carthay Elementary of Environmental Studies Magnet (323 students, 66% FRL); Emerson Community Charter (492 students, 51% FRL, charter); Fairfax Senior High (math 40% / reading 61%, grade D+, #324 of 1,170 statewide, top 28%, 1,632 students, 81% FRL) — zoned schools at 66% FRL track the district average.
• Market conditions: Rents soft (-1.6%/yr); 108 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 $15,691/mo this rent would consume 179% of the median local household income ($105k/yr) (locally 2317% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $68k of equity ($14k loan paydown + $54k appreciation (2.7% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$170k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($1.76M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $1,569,100 (21.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.79% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.99%
• DSCR: 0.87
• GRM: 10.6

CMA / ARV

• ARV (median comp): $2,152,364
• List price: $1,995,000
• Delta: -7.31%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1026 S Shenandoah St	0.04mi	8/8.0 (+1)	5,294 (+5%)	8mo	$2,152,000	$406	74
1111 S Holt Ave	0.22mi	7/7.0	4,630 (-8%)	6mo	$1,785,000	$386	70
8701 W Olympic Blvd	0.06mi	8/4.0 (+1)	4,681 (-7%)	10mo	$1,960,000	$419	60
6120 Packard St	0.51mi	7/7.0	4,864 (-4%)	22mo	$1,730,625	$356	52
1200 S Alfred St	0.48mi	6/4.0 (-1)	4,814 (-5%)	2mo	$2,278,950	$473	51
439 S Palm Dr	0.60mi	8/6.0 (+1)	5,620 (+11%)	5mo	$2,968,000	$528	40
419 S Rexford Dr	0.71mi	8/8.0 (+1)	5,511 (+9%)	3mo	$3,995,000	$725	40
1437 Cardiff Ave	0.69mi	8/9.0 (+1)	4,982 (-2%)	21mo	$3,500,000	$703	35
215 S Gale Dr	0.55mi	8/4.0 (+1)	4,656 (-8%)	12mo	$2,226,000	$478	34
6107 Alcott St	0.62mi	6/5.0 (-1)	5,550 (+10%)	18mo	$1,500,000	$270	27
128 S Oakhurst Dr	0.71mi	8/6.0 (+1)	5,532 (+9%)	20mo	$3,018,260	$546	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.72% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.14×
• Total profit: $76,277
• Equity at exit: $865,440

10-year hold

• IRR: 4.8%
• Equity multiple: 1.68×
• Total profit: $379,633
• Equity at exit: $1,309,682

Cash invested: $558,600 (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 90035

• Home prices YoY: 0.7%
• Rents YoY: -1.6%
• Active inventory: 108
• Price-to-rent: 63.6×

Monthly cashflow live

• Estimated rent: $15,691 high
• Mortgage (P&I): −$10,462
• Tax est. 1.5%: −$2,494 /mo · $29,925/yr
• Insurance: −$831
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,295
• Net cashflow: $-1,391

Break-even live

Break-even rent $17,452

Max offer price $1,793,705

Occupancy floor —

Sensitivity live

Price	-10% $-12	-5% $-702	+0% $-1,391	+5% $-2,080	+10% $-2,770
Rent	-10% $-2,631	-5% $-2,011	+0% $-1,391	+5% $-771	+10% $-152
Rate	-1.0pp $-386	-0.5pp $-884	base $-1,391	+0.5pp $-1,908	+1.0pp $-2,434

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$15,690
Total (6 units)			$15,691

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: $498,750
• Closing costs: $59,850
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
332 S Almont Dr Beverly Hills, CA	6.0	7.5	6040	$18,000	$2.98	45d	1	0.34mi
1510 Cardiff Ave Los Angeles, CA	7.0	5.5	4747	$19,000	$4.00	9d	1	0.73mi
137 S Rexford Dr Unit 1 Beverly Hills, CA	6.0	5.0	3500	$15,900	$4.54	26d	1	0.84mi
9033 Cresta Dr Los Angeles, CA	6.0	5.5	5500	$16,500	$3.00	45d	1	0.93mi
9033 Cresta Dr Los Angeles, CA	6.0	5.5	5500	$18,000	$3.27	4d	1	0.93mi
1170 Beverwil Dr Los Angeles, CA	6.0	5.5	3581	$12,995	$3.63	45d	1	0.98mi
1170 Beverwil Dr Los Angeles, CA	6.0	5.5	3581	$11,995	$3.35	26d	1	0.98mi
9500 Sawyer St Los Angeles, CA	7.0	4.5	3554	$17,500	$4.92	3d	1	1.20mi
2122 Castle Heights Ave Los Angeles, CA	6.0	6.0	4555	$19,950	$4.38	45d	1	1.36mi
2122 Castle Heights Ave Los Angeles, CA	6.0	5.0	4555	$19,950	$4.38	0d	1	1.36mi
2122 Castle Heights Ave Los Angeles, CA	6.0	5.5	4192	$18,995	$4.53	26d	1	1.36mi
346 N Kings Rd Los Angeles, CA	6.0	7.0	4500	$22,950	$5.10	45d	1	1.40mi
2408 Castle Heights Ave Los Angeles, CA	6.0	6.5	5800	$24,950	$4.30	45d	1	1.46mi

Listing history 15 events

1. 2026-06-21
   days on market $1,995,000 Active 130 DOM
2. 2026-06-18
   days on market $1,995,000 Active 127 DOM
3. 2026-06-17
   days on market $1,995,000 Active 126 DOM
4. 2026-06-16
   days on market $1,995,000 Active 125 DOM
5. 2026-06-15
   days on market $1,995,000 Active 124 DOM
6. 2026-06-13
   days on market $1,995,000 Active 122 DOM
7. 2026-06-09
   days on market $1,995,000 Active 118 DOM
8. 2026-06-08
   days on market $1,995,000 Active 117 DOM
9. 2026-06-07
   days on market $1,995,000 Active 116 DOM
10. 2026-06-04
    days on market $1,995,000 Active 113 DOM
11. 2026-06-03
    days on market $1,995,000 Active 112 DOM
12. 2026-06-02
    days on market $1,995,000 Active 111 DOM
13. 2026-06-01
    days on market $1,995,000 Active 110 DOM
14. 2026-05-31
    days on market $1,995,000 Active 109 DOM
15. 2026-02-11
    listed $1,995,000 Active 951-char remark

    Show marketing remark (951 chars)

    Discover 1017 S Shenandoah St, a charming 6-unit multifamily building in Pico-Robertson. This well-maintained property offers a diverse unit mix, including one studio, three 1-bedroom units, one 2-bedroom unit, and one spacious 3-bedroom unit, all fully occupied. Situated in a vibrant neighborhood, residents enjoy proximity to amenities like restaurants, coffee shops, and grocery stores. Nearby attractions such as La Cienega Park and the Beverly Center offer recreation and shopping options. The property's strategic location provides easy access to major freeways, ensuring seamless commutes. Constructed in 1955 on a 6,010 square foot lot, it combines timeless charm with modern conveniences. Investors will benefit from stable cash flow and the potential for future appreciation in this thriving area. Don't miss this opportunity to own a piece of Los Angeles real estate in a prime location known for its community feel and urban conveniences.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥88°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: $188,292
• − Mortgage interest: −$111,751
• − Property taxes: −$29,925
• − Insurance: −$9,975
• − Repairs & maintenance: −$15,063
• − Management: −$15,063
• − Depreciation: −$58,036
• Taxable loss: −$51,522
• Est. tax savings @ 24.0%: +$12,365
• After-tax cash flow: $-4,328/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): 29,000
• Household income: $105,013
• Rent vs Own: 69.5% rent · 30.5% own
• Severe rent burden: 2317.0

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 0.57)
• Race & ethnicity: White 64% Hispanic / Latino 14% Two or more races 11% Asian 7% Black 7%
• Hispanic origin (detail): Mexican 7% Cuban 1%
• Common ancestry: Scotch-Irish 4% Italian 3% Romanian 3%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 72% English-only · Other Indo-European 8% Spanish 7% Russian/Polish/Slavic 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: ▲ 2.72%
• Current HPI: 394.903
• Rent YoY: ▼ -1.60%
• 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

1 event — show timeline

• 2026-02-11 Listed $1,995,000 TheMLS

Property tax history

+1.8%/yr

Latest (2025): $3,394 · +3.1% YoY. Source: county tax records.