12029 Washington Pl · Los Angeles, CA 90066

$1,250,000

4 bd · 3.0 ba · 2,336 sqft · MultiFamily public records · 4 Days on market

Built 1950 5,006 sqft lot Est $1923k · 35% 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 +15.0/15.0
• Cash flow +7.4/30.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Framed by a charming white picket fence and mature palms, this bright Mar Vista triplex presents a premier Westside investment opportunity with substantial value-add potential. The property features an ideal unit mix consisting of one 2-bedroom home and two 1-bedroom units, complemented by an attached garage generating additional income. Fully occupied and professionally managed, the property offers immediate, stable cash flow with exceptional long-term upside. Current rents sit approximately one-third below market value, representing a projected 52% increase in rental income upon unit turnover. Major capital improvements have already been addressed, including a brand-new main sewer line co

Key facts

• Attached garage
• White picket fence
• Mature palms

Tags

• WHITE PICKET FENCE
• MATURE PALMS
• ATTACHED GARAGE
• MAJOR CAPITAL IMPROVEMENTS
• BRAND-NEW MAIN SEWER LINE
• HIGH-DEMAND LOCATION

Property features AI

Finance

• Other: Listed as rent controlled; Offered in as-is condition
• Financial info: Gross income: $61,410; Gross operating income: $63,458; Net operating income: $50,288; Total annual expenses: $13,170; Cap rate: 4.02%; Gross rent multiplier: 20.4; Vacancy rate reported as 0%; Rents by unit (actual): Unit 1 $1,625; Unit 2 $2,351; Unit 3 $1,225; Projected rents: Unit 1 $3,000; Unit 2 $2,400; Unit 3 $2,400
• HOA & community: Complex contains 3 units

Exterior

• Parking: Assigned attached garage; 3 covered parking spaces (total 3 parking spaces)
• Home design: Residential income property (triplex); One building containing 3 units; Mixed split-level and single-level configuration; Faces south
• Exterior features: No additional structures; Zoned LAR3

Interior

• Kitchen: Dishwasher
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom; Unit 3: 1 bedroom
• Bathrooms: Unit 1: 1 bath; Unit 2: 1 bath; Unit 3: 1 bath
• Heating & cooling: Solar heating; Other heating (unspecified); No central cooling
• Interior features: Attached common walls (multi-unit); Property faces south; Split level and one-level layouts present

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $1.25M.

Deal economics

• At list price, monthly cash flow is $-2k ($-19k/yr) — negative. Per door: $-537/mo.
• To cash-flow at today's rent, offer at most $965k (22.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $786k (37.1% below list).
• Recommended offer: $786k (37.1% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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: Grand View Boulevard Elementary (541 students, 60% FRL); Marina Del Rey Middle (412 students, 91% FRL); Venice Senior High (math 33% / reading 64%, grade D, #373 of 1,170 statewide, top 32%, 2,107 students, 69% FRL).
• Market conditions: Rents soft (-0.1%/yr); 158 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $7,860/mo this rent would consume 83% of the median local household income ($114k/yr) (locally 3174% 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 $9k of loan paydown is wiped out by about $38k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 19 sale attempts since 23y 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 $500k; list at $1.25M implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $786,000 (37.1% 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.63% ✗
• Cap rate: 4.75%
• Cash-on-cash: -5.53%
• DSCR: 0.75
• GRM: 13.3

CMA / ARV

• ARV (on-the-fly): $1,922,528
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4038 Rosabell St	0.67mi	5/4.0 (+1)	2,460 (+5%)	19mo	$2,025,000	$823	35

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

Projected returns pro-forma

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

5-year hold

• IRR: -28.8%
• Equity multiple: 0.06×
• Total profit: $-328,619
• Equity at exit: $186,379

10-year hold

• IRR: -43.5%
• Equity multiple: -0.45×
• Total profit: $-508,909
• Equity at exit: $108,077

Cash invested: $350,000 (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 90066

• Rents YoY: -0.1%
• Active inventory: 158
• Price-to-rent: 38.4×

Monthly cashflow live

• Estimated rent: $7,860 high
• Mortgage (P&I): −$6,555
• Tax from tax record: −$745 /mo · $8,941/yr
• Insurance: −$521
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,651
• Net cashflow: $-1,612

Break-even live

Break-even rent $9,900

Max offer price $965,294

Occupancy floor —

Sensitivity live

Price	-10% $-904	-5% $-1,258	+0% $-1,612	+5% $-1,965	+10% $-2,319
Rent	-10% $-2,233	-5% $-1,922	+0% $-1,612	+5% $-1,301	+10% $-991
Rate	-1.0pp $-982	-0.5pp $-1,294	base $-1,612	+0.5pp $-1,936	+1.0pp $-2,265

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$2,712
▸ 2× units	1	1	$5,148
Total (3 units)			$7,860

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: $312,500
• Closing costs: $37,500
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11924 W Washington Blvd Los Angeles, CA	3.0	1.0–2.0	1127	$6,504	$5.77	1d	6	0.47mi
12600 Mitchell Ave Los Angeles, CA	3.0	2.0	1656	$9,750	$5.89	45d	1	0.49mi
3932 Minerva Ave Los Angeles, CA	4.0	4.0	2193	$10,000	$4.56	5d	1	0.55mi
3932 Minerva Ave Los Angeles, CA	4.0	4.0	2193	$12,500	$5.70	26d	1	0.55mi
12706 Pacific Ave Los Angeles, CA	3.0	3.5	2098	$8,500	$4.05	45d	1	0.61mi
3783 Stewart Ave Los Angeles, CA	3.0	2.0	2174	$11,000	$5.06	45d	1	0.63mi
4118 Wade St Los Angeles, CA	3.0	3.5	2271	$11,995	$5.28	45d	1	0.64mi
4041 Sawtelle Blvd Unit C Los Angeles, CA	3.0	3.0	1718	$6,800	$3.96	45d	1	0.68mi
12111 Wagner St Culver City, CA	4.0	3.0	2225	$6,900	$3.10	9d	1	0.83mi
12111 Wagner St Culver City, CA	4.0	3.0	2225	$6,900	$3.10	45d	1	0.83mi
4455 S Slauson Ave Culver City, CA	4.0	5.0	1800	$5,363	$2.98	7d	1	0.83mi
12106 Wagner St Culver City, CA	5.0	3.0	2247	$7,100	$3.16	26d	1	0.83mi
3655 May St Los Angeles, CA	4.0	3.0	2496	$11,500	$4.61	5d	1	0.85mi
4720 Marshall Dr Culver City, CA	3.0	3.0	1700	$8,995	$5.29	1d	1	0.91mi
4720 Marshall Dr Culver City, CA	3.0	3.0	1592	$8,995	$5.65	45d	1	0.91mi
3846 Bentley Ave Unit 2 Culver City, CA	3.0	2.5	1982	$7,250	$3.66	45d	1	1.03mi
3846 Bentley Ave Unit 4 Culver City, CA	3.0	2.5	1900	$7,499	$3.95	45d	1	1.03mi
3838 Tilden Ave Culver City, CA	3.0	3.5	2590	$6,495	$2.51	26d	1	1.09mi
4711 Purdue Ave Culver City, CA	5.0	3.0	2300	$7,300	$3.17	17d	1	1.10mi
4922 S Centinela Ave Unit 3 Los Angeles, CA	3.0	3.5	1700	$5,099	$3.00	45d	1	1.12mi
3533 Tuller Ave Los Angeles, CA	4.0	3.0	2638	$6,700	$2.54	9d	1	1.13mi
4905 Coolidge Ave Culver City, CA	4.0	2.0	1862	$5,495	$2.95	26d	1	1.16mi
4905 Coolidge Ave Culver City, CA	4.0	2.0	1862	$5,995	$3.22	45d	1	1.16mi
11033 Barman Ave Culver City, CA	4.0	3.0	2300	$6,700	$2.91	23d	1	1.27mi
10963 Lindblade St Culver City, CA	3.0	2.0	1600	$7,900	$4.94	1d	1	1.29mi
12668 Rose Ave Los Angeles, CA	4.0	3.0	2535	$14,875	$5.87	4d	1	1.31mi
3808 College Ave #1 Culver City, CA	3.0	3.5	2250	$8,995	$4.00	45d	1	1.31mi
49381 McConnell Ave Los Angeles, CA	3.0	2.5	1858	$6,200	$3.34	45d	1	1.33mi
13461 Beach Ave Unit C Marina Del Rey, CA	5.0	5.5	2168	$6,275	$2.89	45d	1	1.34mi
13461 Beach Ave Unit 134635 Marina Del Rey, CA	5.0	5.5	2168	$6,275	$2.89	20d	1	1.34mi
13463 Beach Ave Unit 13463 Marina Del Rey, CA	4.0	4.5	1672	$5,868	$3.51	45d	1	1.34mi
13488 Maxella Ave Marina del Rey, CA	3.0	1.0–2.0	1175	$6,608	$5.62	1d	12	1.39mi
2440 Penmar Ave Unit 2 Venice, CA	3.0	2.5	2000	$4,500	$2.25	45d	1	1.43mi
2432 Penmar Ave #201 Venice, CA	4.0	3.5	3000	$10,994	$3.66	26d	1	1.43mi
2432 Penmar Ave Venice, CA	4.0	4.0	3000	$10,474	$3.49	20d	1	1.43mi
2435 Penmar Ave Venice, CA	4.0	4.5	2672	$15,000	$5.61	5d	1	1.46mi
2306 Penmar Ave Venice, CA	4.0	4.0	2032	$10,800	$5.31	24d	1	1.48mi
10767 Oregon Ave Culver City, CA	4.0	3.0	3152	$9,250	$2.93	45d	1	1.49mi

Listing history 3 events

1. 2026-06-21
   days on market $1,250,000 Active 4 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $1,250,000 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: $8,941 · $745/mo
• Projected year-2 tax: $9,500 · $792/mo
• Expected delta: +$559/yr (+$47/mo · 6.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 94% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥85°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $94,320
• − Mortgage interest: −$70,019
• − Property taxes: −$8,941
• − Insurance: −$6,250
• − Repairs & maintenance: −$7,546
• − Management: −$7,546
• − Depreciation: −$36,364
• Taxable loss: −$42,345
• Est. tax savings @ 24.0%: +$10,163
• After-tax cash flow: $-9,177/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): 56,740
• Household income: $114,141
• Rent vs Own: 61.7% rent · 38.3% own
• Severe rent burden: 3174.0

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: White 48% Hispanic / Latino 25% Asian 16% Two or more races 13% Black 5%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Italian 3% Romanian 3% Scotch-Irish 2%
• Foreign-born: 25% · Canada, China, South Korea
• Languages at home: 63% English-only · Spanish 19% Other Indo-European 4% Chinese 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: ▼ -1200.36%
• Current HPI: 466.5309
• Rent YoY: ▼ -0.08%
• 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

+290.6% since first listed

42 events — show timeline

• 2026-06-17 Listed $1,250,000 TheMLS
• 2023-10-23 Rental Removed $2,195 APPFOLIO
• 2023-09-21 Price Changed $2,195 APPFOLIO
• 2023-09-13 Price Changed $2,395 APPFOLIO
• 2023-09-10 Listed for Rent $2,095 APPFOLIO
• 2021-07-20 Listed — TheMLS
• 2021-04-21 Listed — TheMLS
• 2020-07-29 Listed — TheMLS
• 2019-05-27 Listing Removed — CRMLS
• 2019-05-27 Listing Removed — SDMLS
• 2019-01-26 Price Changed $1,300,000 CRMLS
• 2018-12-27 Listed $1,400,000 CRMLS
• 2018-12-27 Listed $1,300,000 SDMLS
• 2018-12-05 Listing Removed — SDMLS
• 2018-12-05 Delisted — TheMLS
• 2018-11-14 Relisted — TheMLS
• 2018-11-13 Delisted — TheMLS
• 2018-10-05 Price Changed — TheMLS
• 2018-09-27 Listed $1,480,000 SDMLS
• 2018-09-27 Listed — TheMLS
• 2018-09-11 Listing Removed — SDMLS
• 2018-09-11 Delisted — TheMLS
• 2018-08-23 Price Changed — TheMLS
• 2018-08-14 Listed $1,560,000 SDMLS
• 2018-08-14 Listed — TheMLS
• 2016-03-08 Listing Removed — SDMLS
• 2016-03-08 Delisted — TheMLS
• 2015-10-21 Listed — TheMLS
• 2015-10-21 Listed $1,100,000 SDMLS
• 2015-10-20 Listing Removed — SDMLS
• 2015-10-20 Delisted — TheMLS
• 2015-06-08 Listed — TheMLS
• 2015-05-25 Listed $1,100,000 SDMLS
• 2007-12-22 Delisted — TheMLS
• 2007-12-22 Listing Removed — CRMLS
• 2007-07-26 Listed $959,000 CRMLS
• 2007-06-22 Listed — TheMLS
• 2003-10-24 Sold (MLS) $500,000 TheMLS
• 2003-10-20 Sold (Public Records) $500,000 Public Records
• 2003-08-06 Delisted — TheMLS
• 2003-07-12 Listed $499,000 TheMLS
• 1988-12-28 Sold (Public Records) $320,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $8,941 · +1.4% YoY. Source: county tax records.