23901 Civic Center Way #126 · Malibu, CA 90265

$899,000

2 bd · 2.0 ba · 905 sqft · Condo public records · 3 Days on market

Built 1972 $1065/mo HOA · 13% of rent

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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).

• Cash flow +9.1/30.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• Appreciation +5.3/10.0
• 1% rule +4.2/10.0
• Livability +2.7/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0

Listing remarks MLS

Incredible opportunity to own this tastefully remodeled ground floor corner unit in the highly desirable back row w/ direct access to your front door from the beautiful manicured pathway only a handful of condos in the complex have. No expense was spared with brand new custom cabinetry, appliances, high end flooring throughout & Quartz bathrooms w/ custom cabinetry. The ideal floor plan includes an expansive living & dining area leading out to the private back patio w/ views of the lush landscaping, a master suite w/ light coming in from two sides, ocean view & in-suite bathroom w/ beautiful finishes, a second bedroom & a close by full bathroom that doubles as a guest bathroom, where most units either do not have two full bathrooms or guests have to go through a bedroom to use a bathroom. Malibu Canyon Village features around the clock gate guard, substantial third car/guest parking, pool & gym studio both with ocean views, lighted tennis court & located in the center of Malibu.  

Key facts

• Custom cabinetry
• Single level unit
• Corner unit

Tags

• GUARD GATED COMMUNITY
• CORNER UNIT
• PRIVATE COVERED PATIO
• CUSTOM CABINETRY
• STAINLESS STEEL APPLIANCES
• SINGLE LEVEL UNIT

Property features AI

Finance

• Other: Zoning: LCC2*; Special zoning: Coastal Commission; Disclosures: As Is, CC&Rs, Coastal Commission restrictions; Directions: Pacific Coast Highway to guard gate on Civic Center Way
• Financial info: Available for lease
• HOA & community: Monthly HOA dues; Association amenities include fitness center and tennis courts; Association pet rules (call for details); Complex has 104 units; Complex: Malibu Canyon Village

Exterior

• Parking: Assigned parking; Community garage; Guest parking available; Total 2 parking spaces (2 covered)
• Security: Gated community with guard
• Utilities: Standard utilities (water, sewer, power not specified)
• Home design: Residential condo/co-op; Attached condominium; One level (entry floor 1); Located in a gated community with guard
• Construction: Attached construction
• Exterior features: Association pool; Planned urban development; Coastal Commission restrictions

Interior

• Kitchen: Dishwasher; Garbage disposal; Freezer; Microwave; Range/oven; Refrigerator; Other kitchen equipment
• Flooring: Other flooring
• Bathrooms: One full bathroom; One 3/4 bathroom
• Heating & cooling: Wall electric heat; Ceiling fan for cooling
• Interior features: Ceiling fan; Powder room; Patio (covered); Living room; Dining area; Has a view (mountains, ocean, peek-a-boo)
• Laundry & utility: Community laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $899k.

Deal economics

• At list price, monthly cash flow is $-694 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $776k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $831k (7.6% below list).
• Recommended offer: $776k (13.6% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 0.7% in Malibu — 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 53/100 on livability (#979 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, schools B; Watch: housing C-, crime F, amenities F.
• Santa Monica-Malibu Unified (urban): math 61% / reading 74% proficiency, ranked #123 of 1,400 in CA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents falling (-3.4%/yr); 636 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $8,309/mo this rent would consume 51% of the median local household income ($197k/yr) (locally 420% 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 $12k of equity ($6k loan paydown + $6k appreciation (0.6% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 5, paydown + projected appreciation supports a ~$57k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 13y 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 $725k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 8→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $776,321 (13.6% 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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?
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: 0.92% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.31%
• DSCR: 0.85
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.62% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.73×
• Total profit: $-67,679
• Equity at exit: $289,162

10-year hold

• IRR: -2.1%
• Equity multiple: 0.77×
• Total profit: $-58,260
• Equity at exit: $370,904

Cash invested: $251,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90265

• Home prices YoY: 0.1%
• Rents YoY: -3.4%
• Active inventory: 636
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $8,309 high
• Mortgage (P&I): −$4,714
• Tax from tax record: −$1,105 /mo · $13,258/yr
• Insurance: −$375
• HOA: −$1,065
• Vacancy / Maint / Mgmt: −$1,745
• Net cashflow: $-694

Break-even live

Break-even rent $9,188

Max offer price $776,321

Occupancy floor —

Sensitivity live

Price	-10% $-186	-5% $-440	+0% $-694	+5% $-949	+10% $-1,203
Rent	-10% $-1,351	-5% $-1,023	+0% $-694	+5% $-366	+10% $-38
Rate	-1.0pp $-242	-0.5pp $-466	base $-694	+0.5pp $-927	+1.0pp $-1,164

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23901 Civic Center Way Unit D133 Malibu, CA	2.0	2.0	895	$4,550	$5.08	19d	1	0.03mi
23901 Civic Center Way Unit D133 Malibu, CA	2.0	2.0	895	$4,550	$5.08	6d	1	0.03mi
23901 Civic Center Way Unit 126B Malibu, CA	2.0	2.0	905	$5,600	$6.19	0d	1	0.03mi
23901 Civic Center Way Malibu, CA	2.0–3.0	1.5–2.0	920	$4,450	$4.83	18d	6	0.04mi
23901 Civic Center Way Malibu, CA	2.0–3.0	1.0–1.5	989	$4,800	$4.85	2d	2	0.04mi
23901 Civic Center Way Malibu, CA	2.0–3.0	1.0–2.0	987	$4,600	$4.66	0d	3	0.04mi
22860 Pacific Coast Hwy Malibu, CA	1.0	1.0	650	$4,295	$6.61	44d	1	1.28mi

HOA detail condo

• Monthly dues: $1,065 · $12,780/yr
• Likely covers: landscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $899,000 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $899,000 Active 1 DOM

ⓘ 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: $13,258 · $1,105/mo
• Projected year-2 tax: $13,258 · $1,105/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 6/10 Major
• 🌡 Heat 6/10 Major 8 d/yr ≥83°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $99,712
• − Mortgage interest: −$50,358
• − Property taxes: −$13,258
• − Insurance: −$4,495
• − Repairs & maintenance: −$7,977
• − Management: −$7,977
• − HOA: −$12,780
• − Depreciation: −$26,153
• Taxable loss: −$23,285
• Est. tax savings @ 24.0%: +$5,588
• After-tax cash flow: $-2,745/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: Santa Monica-Malibu Unified
• NCES district ID: 0635700
• Math proficiency: 61% ▬ 0.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $81,489
• Composite: 61.58/100
• National rank: #1535
• State rank: #123 of 1400 in CA

Livability — Malibu

• Score: 53/100
• State rank: #979
• US rank: #24630

Category grades

Amenities F Commute F Cost of living F Crime F Employment A+ Housing C- Health & safety C+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Malibu, CA
• County: Los Angeles County · 9,444,647 people
• City population: 15,918
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 15,918
• Household income: $196,742
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 420.0

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 White (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 9% Asian 5% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 8% Scotch-Irish 3% Romanian 3%
• Foreign-born: 16% · Canada, South Korea, China
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 6% French/Haitian/Cajun 2%

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: ▲ 0.62%
• Current HPI: 498.5117
• Rent YoY: ▼ -3.39%
• 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

+596.9% since first listed

20 events — show timeline

• 2026-06-18 Listed $899,000 TheMLS
• 2025-08-09 Rental Removed $5,950 CLAW
• 2025-07-02 Listed for Rent $5,950 CLAW
• 2025-07-01 Listed — TheMLS
• 2020-07-27 Sold (MLS) $725,000 TheMLS
• 2020-07-21 Sold (Public Records) $725,000 Public Records
• 2020-07-20 Pending — TheMLS
• 2020-05-19 Listed $725,000 TheMLS
• 2020-01-27 Sold (Public Records) $400,000 Public Records
• 2020-01-27 Sold (MLS) $400,000 TheMLS
• 2020-01-11 Delisted — TheMLS
• 2020-01-10 Listed $400,000 TheMLS
• 2013-07-26 Sold (Public Records) $450,000 Public Records
• 2013-07-26 Sold (MLS) $450,000 TheMLS
• 2013-07-15 Pending — TheMLS
• 2013-06-21 Pending — TheMLS
• 2013-06-20 Listed $450,000 TheMLS
• 1994-06-13 Sold (Public Records) $137,000 Public Records
• 1986-10-15 Sold (Public Records) $125,000 Public Records
• 1980-12-24 Sold (Public Records) $129,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $13,258 · +12.2% YoY. Source: county tax records.