23 19th Ave · Los Angeles, CA 90291

$2,195,000

3 bd · 5.0 ba · 2,765 sqft · MultiFamily public records · 151 Days on market

Built 1904 2,647 sqft lot $794/sqft · 8% above area Est $2038k · 8% over

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Why this score? — see what drove the C 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 +22.2/30.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Appreciation +4.6/10.0
• ARV discount +4.0/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 6 units. estimate disagrees with records

Listing remarks MLS

Charming 6 - unit investment property in the heart of Venice on a "Walk-Street", just steps to the sand. The property features 4 -Singles, 2 of them have a sunporch, 1 - 1bd+1ba and 1 - 2bd+1ba units. Long term owner (over 40 years) with below market rents. The building has copper plumbing. Two of the units (units 2 & 4) have been completely remodeled. Two other units (units 3 & 5) have been partially remodeled including hardwood floors. Master metered for electricity. Individually metered for gas. However, the seller pays the gas for the tenants. The are 4 parking spots. The owner collects $150/mo. for parking from units 1, 3 and 6. The building was earthquake retrofitted in 1994. You can't beat the location, close to the Venice Boardwalk, Santa Monica Pier and Muscle Beach.

Key facts

• Sunporch
• Copper plumbing
• Completely remodeled

Tags

• SUNPORCH
• COPPER PLUMBING
• COMPLETELY REMODELED
• HARDWOOD FLOORS
• EARTHQUAKE RETROFITTED
• CLOSE TO VENICE BOARDWALK

What this means for you Summary

Snapshot

• This is a 6 × 3-bed/6.0-bath units multifamily listed at $2.19M.

Deal economics

• At list price, monthly cash flow is $4k ($43k/yr) — positive. Per door: $596/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $2.19M).
• Recommended offer: $1.93M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 flat; 223 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $23,730/mo this rent would consume 232% of the median local household income ($123k/yr) (locally 2471% 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 (-0.8%/yr); year-one equity from $15k of loan paydown is wiped out by about $18k 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.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($1.93M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $155k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,931,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 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 1904 — 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: 1.08% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.99%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $2,037,950
• List price: $2,195,000
• Delta: 7.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 19th Ave	0.02mi	4/5.0 (+1)	2,724 (-2%)	10mo	$2,600,000	$954	84
22 20th Ave	0.06mi	4/6.0 (+1)	2,980 (+8%)	6mo	$1,150,000	$386	70
217 Windward Ave	0.20mi	4/3.0 (+1)	2,762 (-0%)	12mo	$2,708,750	$981	68
32 Horizon Ave	0.21mi	4/4.0 (+1)	2,454 (-11%)	5mo	$1,600,000	$652	58
214 Market St	0.21mi	2/4.0 (-1)	2,564 (-7%)	22mo	$1,666,500	$650	51
110 Driftwood St	0.74mi	3/4.0	2,407 (-13%)	20mo	$2,350,000	$976	23

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

Projected returns pro-forma

-0.81% appreciation · 0.53% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.04×
• Total profit: $24,366
• Equity at exit: $550,040

10-year hold

• IRR: 5.2%
• Equity multiple: 1.47×
• Total profit: $289,836
• Equity at exit: $594,971

Cash invested: $614,600 (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 90291

• Home prices YoY: -0.2%
• Rents YoY: 0.5%
• Active inventory: 223
• Price-to-rent: 46.2×

Monthly cashflow live

• Estimated rent: $23,730 medium
• Mortgage (P&I): −$11,511
• Tax est. 1.5%: −$2,744 /mo · $32,925/yr
• Insurance: −$915
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,983
• Net cashflow: $3,578

Break-even live

Break-even rent $19,201

Max offer price $2,195,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 6× units	3	6	$23,730
Total (6 units)			$23,730

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: $548,750
• Closing costs: $65,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38 19th Ave Venice, CA	3.0	3.0	2150	$8,998	$4.19	43d	1	0.05mi
216 Grand Blvd Venice, CA	3.0	3.0	4104	$12,500	$3.05	14d	1	0.16mi
234 Grand Blvd Venice, CA	3.0	3.5	2768	$11,995	$4.33	15d	1	0.18mi
2217 Grand Canal Venice, CA	3.0	3.5	3518	$16,850	$4.79	43d	1	0.22mi
404 Grand Blvd Venice, CA	3.0	3.5	3089	$16,000	$5.18	17d	1	0.24mi
411 Grand Blvd Venice, CA	4.0	4.0	2746	$19,950	$7.27	43d	1	0.25mi
419 Venice Way Venice, CA	4.0	4.0	3173	$11,500	$3.62	43d	1	0.26mi
411 Linnie Canal Venice, CA	3.0	2.0	1945	$14,000	$7.20	1d	1	0.33mi
522 Grand Blvd Venice, CA	4.0	3.0	2220	$10,250	$4.62	43d	1	0.35mi
2609 Ocean Front Walk Venice, CA	3.0	2.0	3290	$11,000	$3.34	43d	1	0.36mi
2512 Grand Canal Venice, CA	4.0	4.0	3309	$13,995	$4.23	43d	1	0.37mi
524 Rialto Ave Venice, CA	3.0	3.0	2990	$17,000	$5.69	24d	1	0.38mi
1217 Cabrillo Ave Venice, CA	4.0	4.5	3110	$16,500	$5.31	24d	1	0.38mi
225 Sherman Canal Venice, CA	3.0	2.5	2893	$11,000	$3.80	43d	1	0.38mi
405 Sherman Canal Venice, CA	4.0	3.5	3936	$23,000	$5.84	43d	1	0.41mi
115 Park Pl Venice, CA	3.0	3.5	3155	$20,000	$6.34	43d	1	0.48mi
2909 Ocean Front Walk Venice, CA	3.0	2.0	3784	$26,950	$7.12	24d	1	0.49mi
702 Pacific Ave Venice, CA	4.0	6.0	3807	$16,500	$4.33	43d	1	0.53mi
3007 Ocean Front Walk Venice, CA	3.0	4.0	2060	$18,000	$8.74	43d	1	0.53mi
546 Broadway St Venice, CA	3.0	3.0	2200	$14,999	$6.82	43d	1	0.59mi
3111 Via Dolce #301 Marina del Rey, CA	3.0	3.0	2230	$9,750	$4.37	43d	1	0.60mi
2425 Clement Ave Venice, CA	3.0	3.0	2966	$15,555	$5.24	24d	1	0.61mi
656 California Ave Venice, CA	4.0	4.0	3170	$15,975	$5.04	17d	1	0.63mi
3015 Ocean Ave Venice, CA	2.0	2.0	3584	$4,475	$1.25	7d	1	0.65mi
1670 Electric Ave Venice, CA	3.0	3.0	1951	$11,000	$5.64	43d	1	0.70mi
24 Catamaran St #1149 Marina Del Rey, CA	3.0	4.0	2100	$6,010	$2.86	24d	1	0.71mi
661 Broadway St Venice, CA	3.0	3.0	2920	$17,900	$6.13	43d	1	0.74mi
749 Milwood Ave Venice, CA	4.0	3.0	2514	$24,000	$9.55	7d	1	0.76mi
678 Broadway St Venice, CA	4.0	3.0	2495	$14,300	$5.73	24d	1	0.76mi
615 6th Ave Unit 1/2 Venice, CA	4.0	3.0	3660	$11,995	$3.28	43d	1	0.77mi
602 Victoria Ave Venice, CA	4.0	3.0	1944	$7,795	$4.01	43d	1	0.81mi
1008 Oakwood Ave Venice, CA	4.0	3.5	3308	$18,500	$5.59	43d	1	0.84mi
716 Brooks Ave Venice, CA	4.0	4.5	4000	$27,500	$6.88	24d	1	0.84mi
716 Brooks Ave Venice, CA	4.0	4.5	4000	$25,000	$6.25	7d	1	0.84mi
116 Pacific Ave Venice, CA	3.0	4.0	2280	$7,900	$3.46	43d	1	0.85mi
746 Marco Pl Venice, CA	3.0	3.0	4000	$33,000	$8.25	22d	1	0.86mi
115 Galleon St Unit A Marina Del Rey, CA	3.0	3.0	2000	$8,500	$4.25	15d	1	0.86mi
821 Nowita Pl Venice, CA	3.0	2.5	2036	$17,500	$8.60	43d	1	0.88mi
844 California Ave Venice, CA	3.0	2.5	2265	$15,000	$6.62	43d	1	0.88mi
3806 Ocean Front Walk Apt 2 Marina Del Rey, CA	4.0	5.0	2521	$20,000	$7.93	43d	1	0.89mi

Listing history 19 events

1. 2026-06-13
   days on market $2,195,000 Active 151 DOM
2. 2026-06-09
   days on market $2,195,000 Active 147 DOM
3. 2026-06-08
   days on market $2,195,000 Active 146 DOM
4. 2026-06-07
   days on market $2,195,000 Active 145 DOM
5. 2026-06-04
   days on market $2,195,000 Active 142 DOM
6. 2026-06-03
   days on market $2,195,000 Active 141 DOM
7. 2026-06-02
   days on market $2,195,000 Active 140 DOM
8. 2026-06-01
   days on market $2,195,000 Active 139 DOM
9. 2026-05-31
   days on market $2,195,000 Active 138 DOM
10. 2026-02-02
    price $2,195,000 807-char remark

    Show marketing remark (807 chars)

    Charming 6 - unit investment property in the heart of Venice on a "Walk-Street", just steps to the sand. The property features 4 -Singles, 2 of them have a sunporch, 1 - 1bd+1ba and 1 - 2bd+1ba units. Long term owner (over 40 years) with below market rents. The building has copper plumbing. Two of the units (units 2 & 4) have been completely remodeled. Two other units (units 3 & 5) have been partially remodeled including hardwood floors. Master metered for electricity. Individually metered for gas. However, the seller pays the gas for the tenants. The are 4 parking spots. The owner collects $150/mo. for parking from units 1, 3 and 6. The building was earthquake retrofitted in 1994. You can't beat the location, close to the Venice Boardwalk, Santa Monica Pier and Muscle Beach.

11. 2026-01-13
    listed $2,350,000 Active 807-char remark

    Show marketing remark (807 chars)

    Charming 6 - unit investment property in the heart of Venice on a "Walk-Street", just steps to the sand. The property features 4 -Singles, 2 of them have a sunporch, 1 - 1bd+1ba and 1 - 2bd+1ba units. Long term owner (over 40 years) with below market rents. The building has copper plumbing. Two of the units (units 2 & 4) have been completely remodeled. Two other units (units 3 & 5) have been partially remodeled including hardwood floors. Master metered for electricity. Individually metered for gas. However, the seller pays the gas for the tenants. The are 4 parking spots. The owner collects $150/mo. for parking from units 1, 3 and 6. The building was earthquake retrofitted in 1994. You can't beat the location, close to the Venice Boardwalk, Santa Monica Pier and Muscle Beach.

12. 2025-11-10
    listed Active
13. 2023-11-10
    historical $2,100
14. 2023-10-29
    price $2,100
15. 2023-10-02
    listed $2,295
16. 2001-04-30
    historical
17. 2000-12-01
    listed
18. 2000-10-26
    historical
19. 2000-10-25
    listed

ⓘ 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 ≥83°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $284,760
• − Mortgage interest: −$122,954
• − Property taxes: −$32,925
• − Insurance: −$10,975
• − Repairs & maintenance: −$22,781
• − Management: −$22,781
• − Depreciation: −$63,855
• Taxable income: $8,490
• Est. tax owed @ 24.0%: −$2,038
• After-tax cash flow: $40,893/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): 26,324
• Household income: $122,738
• Rent vs Own: 67.1% rent · 32.9% own
• Severe rent burden: 2471.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 14% Two or more races 11% Asian 6% Black 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 5% Lithuanian 4% Romanian 3%
• Foreign-born: 21% · Canada, China, Dominican Republic
• Languages at home: 72% English-only · Spanish 13% French/Haitian/Cajun 4% Other Indo-European 4%

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: ▼ -0.81%
• Current HPI: 377.6708
• Rent YoY: ▲ 0.53%
• 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

+95542.7% since first listed

10 events — show timeline

• 2026-02-02 Price Changed $2,195,000 TheMLS
• 2026-01-13 Listed $2,350,000 TheMLS
• 2025-11-10 Listed — TheMLS
• 2023-11-10 Rental Removed $2,100 APPFOLIO
• 2023-10-29 Price Changed $2,100 APPFOLIO
• 2023-10-02 Listed for Rent $2,295 APPFOLIO
• 2001-04-30 Delisted — TheMLS
• 2000-12-01 Listed — TheMLS
• 2000-10-26 Delisted — TheMLS
• 2000-10-25 Listed — TheMLS

Property tax history

+1.6%/yr

Latest (2025): $3,630 · +2.2% YoY. Source: county tax records.