7228 Independence · Los Angeles, CA 91303

$1,495,000

7 bd · 5.0 ba · 3,660 sqft · MultiFamily public records · 10 Days on market

Built 2009 6,387 sqft lot

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Why this score? — see what drove the F 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 +8.0/30.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• DSCR +2.1/10.0
• 1% rule +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Fabulous 5 unit apartment building, built 2009. All units have granite counters in kitchen and wood floors. New appliances in kitchen and bathrooms are tile and upgraded. Great mix with 2 2br and 3 1 br. All units have 1 bath. .. Parking in rear. Building is new with landscaping in the front and parking in the rear. There is a laundry area/room. All units leased. Great potential. .. .Priced to sell. .. Don't miss this opportunity for your investors. .. .

Key facts

• Immediate cash flow
• Turnkey asset
• Desirable location

Tags

• TURNKEY ASSET
• ESTABLISHED RENTAL INCOME
• INCOME PRODUCING PROPERTY
• IMMEDIATE CASH FLOW
• FULLY OCCUPIED
• DESIRABLE LOCATION

Property features AI

Finance

• Other: 0–1 unit/acre lot characteristic; Between De Soto and Sherman Way (directions); Approximately 5 units leased
• Financial info: Total actual rent collected: $10,350; Gross scheduled income: $124,200; Net operating income: $110,228; Total expenses: $10,654 (including insurance $3,318; water/sewer $6,850; trash $3,804); Five total units with five separate electric meters and five separate gas meters; One separate water meter; Total building area: 3,660
• HOA & community: Community: Valley

Exterior

• Utilities: Public sewer; District/Public water
• Home design: Attached property; Two-story building
• Construction: Built (year from public records)
• Exterior features: No pool

Interior

• Bedrooms: Unit breakdown includes 1- and 2-bedroom units (mix of one- and two-bedroom apartments)
• Bathrooms: Each unit has one full bathroom
• Interior features: Front door entry; Entry level: 1
• Laundry & utility: On-site laundry area

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 3×1bd/1.0ba units multifamily listed at $1.50M.

Deal economics

• At list price, monthly cash flow is $-2k ($-18k/yr) — negative. Per door: $-305/mo.
• To cash-flow at today's rent, offer at most $1.23M (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.01M (32.4% below list).
• Recommended offer: $1.01M (32.4% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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: Hart Street Elementary (660 students, 95% FRL); Christopher Columbus Middle (673 students, 93% FRL); Canoga Park Senior High (math 20% / reading 52%, grade F, #604 of 1,170 statewide, top 52%, 1,436 students, 92% FRL) — zoned schools average 93% FRL vs 67% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.1%/yr); 35 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $10,101/mo this rent would consume 163% of the median local household income ($74k/yr) (locally 2338% 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 $10k of loan paydown is wiped out by about $45k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 22y 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 $850k; list at $1.50M implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,010,100 (32.4% 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. 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. 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. 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?
8. 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.
9. 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.
10. 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: 0.68% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.37%
• DSCR: 0.81
• GRM: 12.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -26.8%
• Equity multiple: 0.12×
• Total profit: $-369,406
• Equity at exit: $222,909

10-year hold

• IRR: -37.4%
• Equity multiple: -0.34×
• Total profit: $-562,668
• Equity at exit: $129,260

Cash invested: $418,600 (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 91303

• Rents YoY: -1.1%
• Active inventory: 35
• Price-to-rent: 56.2×

Monthly cashflow live

• Estimated rent: $10,101 high
• Mortgage (P&I): −$7,840
• Tax from tax record: −$1,043 /mo · $12,516/yr
• Insurance: −$623
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,121
• Net cashflow: $-1,526

Break-even live

Break-even rent $12,033

Max offer price $1,225,418

Occupancy floor —

Sensitivity live

Price	-10% $-680	-5% $-1,103	+0% $-1,526	+5% $-1,949	+10% $-2,372
Rent	-10% $-2,324	-5% $-1,925	+0% $-1,526	+5% $-1,127	+10% $-728
Rate	-1.0pp $-773	-0.5pp $-1,146	base $-1,526	+0.5pp $-1,913	+1.0pp $-2,308

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,430
▸ 3× units	1	1	$5,670
Total (5 units)			$10,101

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: $373,750
• Closing costs: $44,850
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $1,495,000 Active 10 DOM
2. 2026-06-18
   days on market $1,495,000 Active 7 DOM
3. 2026-06-17
   days on market $1,495,000 Active 6 DOM
4. 2026-06-16
   days on market $1,495,000 Active 5 DOM
5. 2026-06-15
   days on market $1,495,000 Active 4 DOM
6. 2026-06-13
   remarks 575-char remark
7. 2026-06-13
   listed $1,495,000 Active 2 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: $12,516 · $1,043/mo
• Projected year-2 tax: $12,516 · $1,043/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 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: $121,212
• − Mortgage interest: −$83,743
• − Property taxes: −$12,516
• − Insurance: −$7,475
• − Repairs & maintenance: −$9,697
• − Management: −$9,697
• − Depreciation: −$43,491
• Taxable loss: −$45,407
• Est. tax savings @ 24.0%: +$10,898
• After-tax cash flow: $-7,415/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): 29,805
• Household income: $74,474
• Rent vs Own: 78.4% rent · 21.6% own
• Severe rent burden: 2338.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 57% White 26% Two or more races 14% Asian 11% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Italian 1% Scotch-Irish 1% Slovak 1%
• Foreign-born: 42% · Canada, Vietnam, Jamaica
• Languages at home: 34% English-only · Spanish 49% Other Indo-European 6% Tagalog/Filipino 3%

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: ▼ -702.35%
• Current HPI: 464.5509
• Rent YoY: ▼ -1.10%
• 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

+3834.2% since first listed

14 events — show timeline

• 2026-06-11 Listed $1,495,000 CRMLS
• 2025-05-28 Listing Removed — CRMLS
• 2025-02-13 Price Changed $1,895,000 CRMLS
• 2025-02-04 Listed $2,195,000 CRMLS
• 2009-10-17 Sold (MLS) $850,000 CRMLS
• 2009-09-22 Contingent — CRMLS
• 2009-09-01 Listed $849,950 CRMLS
• 2005-03-15 Sold (Public Records) $395,000 Public Records
• 2005-01-14 Sold (MLS) $424,500 CRMLS
• 2004-12-02 Listed $439,000 CRMLS
• 2003-02-18 Sold (Public Records) $220,000 Public Records
• 2000-01-28 Sold (Public Records) $125,000 Public Records
• 1997-09-22 Sold (Public Records) $103,000 Public Records
• 1979-04-06 Sold (Public Records) $38,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $12,516 · +1.3% YoY. Source: county tax records.