117 Paloma Ave · Los Angeles, CA 90291

$3,195,000

4 bd · 4.0 ba · 3,111 sqft · MultiFamily public records · 47 Days on market

Built 1922 3,885 sqft lot $1027/sqft · 70% above area Est $2276k · 40% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Appreciation +4.6/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 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

117-117 1/2 is a 9-unit apartment building located in the heart of Venice. It is located across the street from the Google Headquarters and the future site of the 341 - unit development for the Venice Metro Yard. The development plan features 12,900 square feet of public open space, a pedestrian crossing for beach access and integration of the existing Vietnam War Memorial. In addition, the project offers 30,000 square feet of commercial space and a subterranean parking garage for residents, commercial tenants, and beach visitors. The property consists of a 2 bedroom + 1 bath house over the garage, 4 - 1 bedroom + 1 bath and 4 Studios. Long term owner - first time on the market in more than 40 years. The property is individually metered for electricity. The 4 Studios are master metered for gas. The remaining 5 units are individually metered for gas. It has copper plumbing and been earthquake retrofitted. Several of the kitchens and bathrooms have been remodeled. The units have hardwood floors. There is on site laundry. The other income ($11,100/year) is from the laundry, parking and garage. The property is located less than 2 blocks from Pacific Ocean on a beautiful walk street surrounded by multi-million dollar homes. It has a 94 Walkscore - close to Abbott Kinney, Main Street, Rose Avenue and the Venice Boardwalk.

Key facts

• Public open space
• Copper plumbing
• Hardwood floors

Tags

• 9 UNIT APARTMENT BUILDING
• PUBLIC OPEN SPACE
• SUBTERRANEAN PARKING GARAGE
• COPPER PLUMBING
• EARTHQUAKE RETROFITTED
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 9 × 6-bed/9.0-bath units multifamily listed at $3.19M.

Deal economics

• At list price, monthly cash flow is $12k ($143k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($39k rent vs $3.19M).
• Recommended offer: $3.10M (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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; 227 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 $38,741/mo this rent would consume 379% 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 $22k of loan paydown is wiped out by about $26k 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.
• At projected returns (-0.8% appreciation + 0.5% rent growth), your $895k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($3.10M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1922 — 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 $3,099,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% 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 1922 — 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. 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: 1.21% ✓
• Cap rate: 10.77%
• Cash-on-cash: 15.99%
• DSCR: 1.71
• GRM: 6.9

CMA / ARV

• ARV (median comp): $2,276,284
• List price: $3,195,000
• Delta: 40.36%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 5th Ave	0.32mi	5/4.0 (+1)	2,743 (-12%)	17mo	$2,217,000	$808	46
217 Windward Ave	0.57mi	4/3.0	2,762 (-11%)	12mo	$2,708,750	$981	41
11 19th Ave	0.70mi	4/5.0	2,724 (-12%)	10mo	$2,600,000	$954	35

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: 11.3%
• Equity multiple: 1.50×
• Total profit: $450,798
• Equity at exit: $800,628

10-year hold

• IRR: 15.4%
• Equity multiple: 2.44×
• Total profit: $1,286,070
• Equity at exit: $866,028

Cash invested: $894,600 (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: 227
• Price-to-rent: 61.9×

Monthly cashflow live

• Estimated rent: $38,741 medium
• Mortgage (P&I): −$16,755
• Tax from tax record: −$599 /mo · $7,188/yr
• Insurance: −$1,331
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,136
• Net cashflow: $11,920

Break-even live

Break-even rent $23,652

Max offer price $3,195,000

Occupancy floor 64%

Sensitivity live

Price	-10% $13,729	-5% $12,825	+0% $11,920	+5% $11,016	+10% $10,112
Rent	-10% $8,860	-5% $10,390	+0% $11,920	+5% $13,450	+10% $14,981
Rate	-1.0pp $13,529	-0.5pp $12,733	base $11,920	+0.5pp $11,092	+1.0pp $10,250

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

Units	Beds	Baths	Est. rent
▸ 9× units	6	9	$38,745
Total (9 units)			$38,741

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: $798,750
• Closing costs: $95,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44 Dudley Ave Venice, CA	5.0	3.0	3128	$14,245	$4.55	5d	1	0.09mi
702 Pacific Ave Venice, CA	4.0	6.0	3807	$16,500	$4.33	44d	1	0.15mi
116 Pacific Ave Venice, CA	3.0	4.0	2280	$7,900	$3.46	44d	1	0.17mi
115 Park Pl Venice, CA	3.0	3.5	3155	$20,000	$6.34	44d	1	0.20mi
34 Park Ave Venice, CA	5.0	4.0	2112	$15,000	$7.10	44d	1	0.23mi
615 6th Ave Unit 1/2 Venice, CA	4.0	3.0	3660	$11,995	$3.28	44d	1	0.39mi
302 Ashland Ave #301 Santa Monica, CA	3.0	2.0	2156	$17,000	$7.88	5d	1	0.41mi
546 Broadway St Venice, CA	3.0	3.0	2200	$14,999	$6.82	44d	1	0.48mi
3104 7th St Santa Monica, CA	4.0	4.0	2460	$14,000	$5.69	21d	1	0.51mi
1217 Cabrillo Ave Venice, CA	4.0	4.5	3110	$16,500	$5.31	25d	1	0.56mi
653 Pier Ave #1 Santa Monica, CA	4.0	3.0	2250	$12,500	$5.56	4d	1	0.57mi
661 Broadway St Venice, CA	3.0	3.0	2920	$17,900	$6.13	44d	1	0.60mi
216 Grand Blvd Venice, CA	3.0	3.0	4104	$12,500	$3.05	15d	1	0.63mi
234 Grand Blvd Venice, CA	3.0	3.5	2768	$11,995	$4.33	16d	1	0.64mi
678 Broadway St Venice, CA	4.0	3.0	2495	$14,300	$5.73	25d	1	0.65mi
411 Grand Blvd Venice, CA	4.0	4.0	2746	$19,950	$7.27	44d	1	0.66mi
716 Brooks Ave Venice, CA	4.0	4.5	4000	$25,000	$6.25	8d	1	0.67mi
716 Brooks Ave Venice, CA	4.0	4.5	4000	$27,500	$6.88	25d	1	0.67mi
404 Grand Blvd Venice, CA	3.0	3.5	3089	$16,000	$5.18	19d	1	0.69mi
38 19th Ave Venice, CA	3.0	3.0	2150	$8,998	$4.19	44d	1	0.72mi
419 Venice Way Venice, CA	4.0	4.0	3173	$11,500	$3.62	44d	1	0.72mi
1008 Oakwood Ave Venice, CA	4.0	3.5	3308	$18,500	$5.59	44d	1	0.73mi
802 Indiana Ave Venice, CA	3.0	2.5	2229	$13,495	$6.05	25d	1	0.73mi
524 Rialto Ave Venice, CA	3.0	3.0	2990	$17,000	$5.69	25d	1	0.74mi
656 California Ave Venice, CA	4.0	4.0	3170	$14,975	$4.72	0d	1	0.74mi
157 Hart Ave Santa Monica, CA	4.0	4.0	3389	$18,500	$5.46	25d	1	0.74mi
157 Hart Ave Santa Monica, CA	4.0	4.0	3389	$19,500	$5.75	44d	1	0.74mi
821 Flower Ave Venice, CA	4.0	3.0	2700	$13,200	$4.89	25d	1	0.76mi
522 Grand Blvd Venice, CA	4.0	3.0	2220	$10,250	$4.62	44d	1	0.77mi
749 Milwood Ave Venice, CA	4.0	3.0	2514	$24,000	$9.55	8d	1	0.82mi
710 Milwood Ave Venice, CA	5.0	3.5	3490	$17,800	$5.10	44d	1	0.82mi
207 Hollister Ave Santa Monica, CA	4.0	3.5	4177	$44,000	$10.53	44d	1	0.83mi
127 Hollister Ave Santa Monica, CA	3.0	4.0	2791	$25,000	$8.96	44d	1	0.84mi
133 Hollister Ave Santa Monica, CA	3.0	3.5	2738	$22,000	$8.04	8d	1	0.85mi
844 California Ave Venice, CA	3.0	2.5	2265	$15,000	$6.62	44d	1	0.85mi
1620 Electric Ave Venice, CA	5.0	5.0	3790	$27,800	$7.34	12d	1	0.88mi
2217 Grand Canal Venice, CA	3.0	3.5	3518	$16,850	$4.79	44d	1	0.88mi
2216 Main St Unit 204 Santa Monica, CA	3.0	2.5	2550	$10,500	$4.12	8d	1	0.91mi
818 Palms Blvd Venice, CA	5.0	3.0	2200	$12,500	$5.68	44d	1	0.93mi
2234 5th St Santa Monica, CA	4.0	4.5	4291	$17,500	$4.08	15d	1	0.94mi

Listing history 22 events

1. 2026-06-21
   days on market $3,195,000 Active 47 DOM
2. 2026-06-18
   days on market $3,195,000 Active 44 DOM
3. 2026-06-17
   days on market $3,195,000 Active 43 DOM
4. 2026-06-16
   days on market $3,195,000 Active 42 DOM
5. 2026-06-15
   days on market $3,195,000 Active 41 DOM
6. 2026-06-13
   days on market $3,195,000 Active 39 DOM
7. 2026-06-09
   days on market $3,195,000 Active 35 DOM
8. 2026-06-08
   days on market $3,195,000 Active 34 DOM
9. 2026-06-07
   days on market $3,195,000 Active 33 DOM
10. 2026-06-04
    days on market $3,195,000 Active 30 DOM
11. 2026-06-03
    days on market $3,195,000 Active 29 DOM
12. 2026-06-02
    days on market $3,195,000 Active 28 DOM
13. 2026-06-01
    days on market $3,195,000 Active 27 DOM
14. 2026-05-31
    days on market $3,195,000 Active 26 DOM
15. 2026-05-05
    listed $3,195,000 Active 1337-char remark

    Show marketing remark (1337 chars)

    117-117 1/2 is a 9-unit apartment building located in the heart of Venice. It is located across the street from the Google Headquarters and the future site of the 341 - unit development for the Venice Metro Yard. The development plan features 12,900 square feet of public open space, a pedestrian crossing for beach access and integration of the existing Vietnam War Memorial. In addition, the project offers 30,000 square feet of commercial space and a subterranean parking garage for residents, commercial tenants, and beach visitors. The property consists of a 2 bedroom + 1 bath house over the garage, 4 - 1 bedroom + 1 bath and 4 Studios. Long term owner - first time on the market in more than 40 years. The property is individually metered for electricity. The 4 Studios are master metered for gas. The remaining 5 units are individually metered for gas. It has copper plumbing and been earthquake retrofitted. Several of the kitchens and bathrooms have been remodeled. The units have hardwood floors. There is on site laundry. The other income ($11,100/year) is from the laundry, parking and garage. The property is located less than 2 blocks from Pacific Ocean on a beautiful walk street surrounded by multi-million dollar homes. It has a 94 Walkscore - close to Abbott Kinney, Main Street, Rose Avenue and the Venice Boardwalk.

16. 2025-05-15
    historical $1,595
17. 2025-04-03
    listed $1,595
18. 2024-12-19
    price $2,495
19. 2023-10-09
    historical $2,295
20. 2023-09-28
    price $2,295
21. 2023-09-07
    listed $2,495
22. 2022-08-15
    price $2,495

ⓘ 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: $7,188 · $599/mo
• Projected year-2 tax: $24,282 · $2,024/mo
• Expected delta: +$17,094/yr (+$1,424/mo · 237.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥80°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: $464,892
• − Mortgage interest: −$178,970
• − Property taxes: −$7,188
• − Insurance: −$15,975
• − Repairs & maintenance: −$37,191
• − Management: −$37,191
• − Depreciation: −$92,945
• Taxable income: $95,431
• Est. tax owed @ 24.0%: −$22,903
• After-tax cash flow: $120,139/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

+127956.1% since first listed

8 events — show timeline

• 2026-05-05 Listed $3,195,000 TheMLS
• 2025-05-15 Rental Removed $1,595 APPFOLIO
• 2025-04-03 Listed for Rent $1,595 APPFOLIO
• 2024-12-19 Price Changed $2,495 RENT.
• 2023-10-09 Rental Removed $2,295 APPFOLIO
• 2023-09-28 Price Changed $2,295 APPFOLIO
• 2023-09-07 Listed for Rent $2,495 APPFOLIO
• 2022-08-15 Price Changed $2,495 APPFOLIO

Property tax history

+1.7%/yr

Latest (2025): $7,188 · +1.7% YoY. Source: county tax records.