1045 N Ardmore Ave · Los Angeles, CA 90029

$3,295,000

13 bd · 14.0 ba · 9,940 sqft · MultiFamily public records · 60 Days on market

Built 1963 9,024 sqft lot $331/sqft · 10% above area Est $3235k · at est.

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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 +15.2/30.0
• ARV discount +6.7/15.0
• DSCR +4.7/10.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 13 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

Huge 500k Price Reduction! Renovated 13-unit building cash flowing at an amazing 6.25% Cap Rate from day 1 with 37% upside to a 9.3% Cap on Proforma! Attractively priced at only $313/SF and $259k/door with a large unit mix consisting of 3 (2bed/2bath) units, 9 spacious (1bed/1bath) units, and 1 (studio/1bath) unit. Majority of the units (7) have been renovated including 2 brand-new attached ADUs. Amenities include gated entry, communal laundry room, large balconies, large patios, as well as 9 parking spaces (4 of which have not been officially assigned and may be rented for additional income). Many units boast updated cabinets, flooring, lighting, bathrooms, and significant exterior improvements including soft-story retrofit. Prime East Hollywood location just minutes away from the Vermont/Santa Monica Metro station, Silverlake, Hollywood, West Hollywood as well as many hip neighborhood attractions, restaurants, bars, and shops such as Hollywood Walk of Fame, Griffith Observatory, Cara Hotel, Saffy's Restaurant, Courage Bagels, and many more.

Key facts

• Large balconies
• Updated cabinets
• Large patios

Tags

• GATED ENTRY
• COMMUNAL LAUNDRY ROOM
• LARGE BALCONIES
• LARGE PATIOS
• ATTACHED ADUS
• UPDATED CABINETS

What this means for you Summary

Snapshot

• This is a 3×2bd/2ba + 9×1bd/1ba + 1×?bd/1ba units multifamily listed at $3.29M.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $87/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.83M (14.1% below list).
• Recommended offer: $2.83M (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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-, 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; 77 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $28,302/mo this rent would consume 562% of the median local household income ($60k/yr) (locally 3614% 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 $23k of loan paydown is wiped out by about $99k 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 60 days — a 3% lower offer ($3.20M) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 10y ago; this cycle's ask is 194295% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $2.12M; list at $3.29M implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,830,200 (14.1% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 14% 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 1963 — 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: 0.86% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.47%
• DSCR: 1.07
• GRM: 9.7

CMA / ARV

• ARV (median comp): $3,235,373
• List price: $3,295,000
• Delta: 1.84%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.19% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.41×
• Total profit: $-540,274
• Equity at exit: $491,295

10-year hold

• IRR: -14.7%
• Equity multiple: 0.26×
• Total profit: $-681,780
• Equity at exit: $284,891

Cash invested: $922,600 (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 90029

• Rents YoY: 0.2%
• Active inventory: 77
• Price-to-rent: 121.2×

Monthly cashflow live

• Estimated rent: $28,302 high
• Mortgage (P&I): −$17,279
• Tax from tax record: −$2,576 /mo · $30,908/yr
• Insurance: −$1,373
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,943
• Net cashflow: $1,131

Break-even live

Break-even rent $26,871

Max offer price $3,295,000

Occupancy floor 91%

Sensitivity live

Price	-10% $2,996	-5% $2,063	+0% $1,131	+5% $198	+10% $-735
Rent	-10% $-1,105	-5% $13	+0% $1,131	+5% $2,249	+10% $3,367
Rate	-1.0pp $2,790	-0.5pp $1,969	base $1,131	+0.5pp $277	+1.0pp $-592

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	2	$6,798
▸ 9× units	1	1	$19,368
1× unit	0	1	$2,139
Total (13 units)			$28,302

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: $823,750
• Closing costs: $98,850
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-21
   days on market $3,295,000 Active 60 DOM
2. 2026-06-18
   days on market $3,295,000 Active 57 DOM
3. 2026-06-17
   days on market $3,295,000 Active 56 DOM
4. 2026-06-16
   days on market $3,295,000 Active 55 DOM
5. 2026-06-15
   days on market $3,295,000 Active 54 DOM
6. 2026-06-13
   days on market $3,295,000 Active 52 DOM
7. 2026-06-09
   days on market $3,295,000 Active 48 DOM
8. 2026-06-08
   days on market $3,295,000 Active 47 DOM
9. 2026-06-07
   days on market $3,295,000 Active 46 DOM
10. 2026-06-04
    days on market $3,295,000 Active 43 DOM
11. 2026-06-03
    days on market $3,295,000 Active 42 DOM
12. 2026-06-02
    days on market $3,295,000 Active 41 DOM
13. 2026-06-01
    days on market $3,295,000 Active 40 DOM
14. 2026-05-31
    days on market $3,295,000 Active 39 DOM
15. 2026-05-20
    historical $1,695
16. 2026-04-23
    listed $1,695
17. 2026-04-22
    listed $3,375,000 Active 1058-char remark

    Show marketing remark (1058 chars)

    Huge 500k Price Reduction! Renovated 13-unit building cash flowing at an amazing 6.25% Cap Rate from day 1 with 37% upside to a 9.3% Cap on Proforma! Attractively priced at only $313/SF and $259k/door with a large unit mix consisting of 3 (2bed/2bath) units, 9 spacious (1bed/1bath) units, and 1 (studio/1bath) unit. Majority of the units (7) have been renovated including 2 brand-new attached ADUs. Amenities include gated entry, communal laundry room, large balconies, large patios, as well as 9 parking spaces (4 of which have not been officially assigned and may be rented for additional income). Many units boast updated cabinets, flooring, lighting, bathrooms, and significant exterior improvements including soft-story retrofit. Prime East Hollywood location just minutes away from the Vermont/Santa Monica Metro station, Silverlake, Hollywood, West Hollywood as well as many hip neighborhood attractions, restaurants, bars, and shops such as Hollywood Walk of Fame, Griffith Observatory, Cara Hotel, Saffy's Restaurant, Courage Bagels, and many more.

18. 2026-04-08
    historical $1,695
19. 2026-03-23
    price
20. 2026-03-21
    price $1,695
21. 2026-03-14
    listed $1,795
22. 2026-01-22
    listed Active
23. 2025-11-26
    price
24. 2025-10-21
    listed Active
25. 2025-09-22
    price
26. 2025-08-25
    listed Active
27. 2025-07-31
    price
28. 2025-06-23
    listed Active
29. 2021-09-14
    listed Active
30. 2021-02-10
    soldstatus $2,125,000
31. 2016-09-02
    historical Expired
32. 2016-09-02
    historical
33. 2016-06-29
    status Active
34. 2016-06-19
    historical Hold
35. 2016-06-18
    status Active
36. 2016-06-08
    historical Hold
37. 2016-03-03
    listed Active
38. 2016-03-02
    listed $1,850,000
39. 1968-04-23
    soldstatus $138,000

ⓘ 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: $30,908 · $2,576/mo
• Projected year-2 tax: $30,908 · $2,576/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 6/10 Major 7 d/yr ≥92°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $339,624
• − Mortgage interest: −$184,571
• − Property taxes: −$30,908
• − Insurance: −$16,475
• − Repairs & maintenance: −$27,170
• − Management: −$27,170
• − Depreciation: −$95,855
• Taxable loss: −$42,524
• Est. tax savings @ 24.0%: +$10,206
• After-tax cash flow: $23,774/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): 33,303
• Household income: $60,440
• Rent vs Own: 89.7% rent · 10.3% own
• Severe rent burden: 3614.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 49% White 27% Asian 17% Two or more races 10% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Scotch-Irish 1% Romanian 1% Slovak 1%
• Foreign-born: 49% · Canada, China, South Korea
• Languages at home: 33% English-only · Spanish 45% Tagalog/Filipino 9% Other Indo-European 6%

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: ▼ -292.27%
• Current HPI: 451.0593
• Rent YoY: ▲ 0.19%
• 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

-98.8% since first listed

25 events — show timeline

• 2026-05-20 Rental Removed $1,695 SHOWMOJO
• 2026-04-23 Listed for Rent $1,695 SHOWMOJO
• 2026-04-22 Listed $3,375,000 TheMLS
• 2026-04-08 Rental Removed $1,695 SHOWMOJO
• 2026-03-23 Price Changed — TheMLS
• 2026-03-21 Price Changed $1,695 SHOWMOJO
• 2026-03-14 Listed for Rent $1,795 SHOWMOJO
• 2026-01-22 Listed — TheMLS
• 2025-11-26 Price Changed — TheMLS
• 2025-10-21 Listed — TheMLS
• 2025-09-22 Price Changed — TheMLS
• 2025-08-25 Listed — TheMLS
• 2025-07-31 Price Changed — TheMLS
• 2025-06-23 Listed — TheMLS
• 2021-09-14 Listed — TheMLS
• 2021-02-10 Sold (Public Records) $2,125,000 Public Records
• 2016-09-02 Listing Removed — SDMLS
• 2016-09-02 Delisted — TheMLS
• 2016-06-29 Relisted — TheMLS
• 2016-06-19 Delisted — TheMLS
• 2016-06-18 Relisted — TheMLS
• 2016-06-08 Delisted — TheMLS
• 2016-03-03 Listed — TheMLS
• 2016-03-02 Listed $1,850,000 SDMLS
• 1968-04-23 Sold (Public Records) $138,000 Public Records

Property tax history

+12.9%/yr

Latest (2025): $30,908 · +1.4% YoY. Source: county tax records.