3405 N Figueroa St · Los Angeles, CA 90065

$6,450,000

49 bd · 27.0 ba · 17,549 sqft · MultiFamily public records · 10 Days on market

Built 1988 0.57 ac lot

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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 +25.0/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• 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: 26 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

We are pleased to present the opportunity to acquire 3401-3405 N. Figueroa Street, a rare mixed use asset located in the highly sought after Cypress Park neighborhood of Los Angeles. Offered for sale for the first time since its development, the property consists of a 26 unit apartment community and two commercial spaces situated across two separate parcels, providing investors with operational flexibility and future value enhancement potential. The asset is being offered at $248,077 per unit and $319 per square foot, representing an attractive 10.37 GRM and 5.47% capitalization rate on current operations. Constructed in 1988, the residential component features an attractive unit mix of one

Key facts

• Restaurant space
• 20
• 0.57 acre lot

Tags

• CYPRESS PARK NEIGHBORHOOD
• 26 UNIT APARTMENT COMMUNITY
• TWO COMMERCIAL SPACES
• RESTAURANT SPACE
• 20
• 188 RENTABLE SQUARE FEET

Property features AI

Finance

• Other: Property zoning: LARD2; Four buildings on the parcel; Directions: Located on N Figueroa St near Cypress Ave
• Financial info: Gross income: $622,080; Gross operating income: $603,418; Net operating income: $353,092; Total annual expenses: $250,326; Cap rate: 5.47%; Gross rent multiplier: 10.37; Vacancy rate: 3%; Income reported as Actual
• HOA & community: 28 units in the complex

Exterior

• Parking: Tandem garage; 52 total parking spaces
• Home design: Residential income property; Mixed-use unit types; Three total floors (multi-level)
• Construction: Mansard roof
• Exterior features: City lot location; 2–4 lots; No other structures noted

Interior

• Kitchen: Range/oven; Refrigerator
• Bedrooms: One 1-bedroom unit; Twenty-two 2-bedroom units; Two 2-bedroom (2-bath) units; One 3-bedroom unit; One studio unit (0 beds); One studio unit (0 beds)
• Bathrooms: Multiple 1-bath units; Two 2-bath units; Multiple 1-bath studio units
• Heating & cooling: Wall heating; Window air conditioning units; Ceiling fans
• Interior features: Ceiling fan; Wall heat; Window unit cooling; Has city view
• Laundry & utility: No on-site laundry

What this means for you Summary

Snapshot

• This is a 26 × 2-bed/1.2-bath units multifamily listed at $6.45M.

Deal economics

• At list price, monthly cash flow is $14k ($169k/yr) — positive. Per door: $542/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($67k rent vs $6.45M).
• Cap rate 8.9% 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; 239 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $66,609/mo this rent would consume 843% of the median local household income ($95k/yr) (locally 2198% 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 $45k of loan paydown is wiped out by about $194k 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.

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 $6,450,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.36%
• DSCR: 1.42
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.21% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.82×
• Total profit: $-332,638
• Equity at exit: $961,716

10-year hold

• IRR: 1.3%
• Equity multiple: 1.08×
• Total profit: $148,636
• Equity at exit: $557,678

Cash invested: $1,806,000 (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 90065

• Rents YoY: 0.2%
• Active inventory: 239
• Price-to-rent: 209.8×

Monthly cashflow live

• Estimated rent: $66,609 high
• Mortgage (P&I): −$33,825
• Tax from tax record: −$2,023 /mo · $24,274/yr
• Insurance: −$2,688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$13,988
• Net cashflow: $14,086

Break-even live

Break-even rent $48,778

Max offer price $6,450,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 26× units	2	1.2	$66,612
Total (26 units)			$66,609

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: $1,612,500
• Closing costs: $193,500
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $6,450,000 Active 10 DOM
2. 2026-06-17
   days on market $6,450,000 Active 9 DOM
3. 2026-06-16
   days on market $6,450,000 Active 8 DOM
4. 2026-06-15
   days on market $6,450,000 Active 7 DOM
5. 2026-06-13
   days on market $6,450,000 Active 5 DOM
6. 2026-06-08
   remarks 699-char remark
7. 2026-06-08
   listed $6,450,000 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: $24,274 · $2,023/mo
• Projected year-2 tax: $49,020 · $4,085/mo
• Expected delta: +$24,746/yr (+$2,062/mo · 101.9%)

ⓘ 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 ≥96°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $799,308
• − Mortgage interest: −$361,300
• − Property taxes: −$24,274
• − Insurance: −$32,250
• − Repairs & maintenance: −$63,945
• − Management: −$63,945
• − Depreciation: −$187,636
• Taxable income: $65,958
• Est. tax owed @ 24.0%: −$15,830
• After-tax cash flow: $153,205/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): 44,658
• Household income: $94,784
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2198.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 27% Two or more races 20% Asian 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 36% · Canada, China, South Korea
• Languages at home: 45% English-only · Spanish 41% Tagalog/Filipino 5% Other Indo-European 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: ▼ -1578.12%
• Current HPI: 536.5042
• Rent YoY: ▲ 0.21%
• 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

1 event — show timeline

• 2026-05-27 Listed $6,450,000 TheMLS

Property tax history

+1.6%/yr

Latest (2025): $24,274 · +2.1% YoY. Source: county tax records.