2710 Queen · Los Angeles, CA 90039

$1,199,999

8 bd · 4.0 ba · 3,538 sqft · MultiFamily public records · 75 Days on market

Built 1964 5,453 sqft lot $339/sqft · 19% below area Est $1490k · 19% under

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Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 11 units. estimate disagrees with records

Listing remarks MLS

Four-unit multifamily opportunity in the sought-after Elysian Valley (Frogtown) submarket of Los Angeles. The property features four 2-bedroom, 1-bathroom units with functional layouts that continue to attract stable tenancy. The building has seen various improvements over time, supporting overall livability and ongoing performance. Elysian Valley continues to gain attention for its unique blend of residential charm and creative energy, anchored by the LA River path and an expanding mix of dining, retail, and local businesses. Its central location provides convenient access to Downtown Los Angeles, Silver Lake, Echo Park, and major transportation corridors. This is an ideal investment for buyers seeking exposure to a neighborhood with strong tenant demand, lifestyle appeal, and continued growth.

Key facts

• 5,453 sq ft lot
• 4 garage spots
• Built 1964

What this means for you Summary

Snapshot

• This is a 11 × 1-bed/?-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $10k ($118k/yr) — positive. Per door: $895/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($23k rent vs $1.20M).
• Recommended offer: $1.13M (6.0% below list) — sets the bar for market timing.
• Cap rate 16.1% 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: Allesandro Elementary (310 students, 77% FRL); Washington Irving Mid Sch Math Music And Engr Magnet (695 students, 76% FRL); Valley Academy of Arts And Sciences (math 22% / reading 52%, grade F, #578 of 1,170 statewide, top 51%, 868 students, 64% FRL).
• Market conditions: Rents rising (+1.0%/yr); 103 active listings in the ZIP; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $22,863/mo this rent would consume 241% of the median local household income ($114k/yr) (locally 1726% 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 $8k of loan paydown is wiped out by about $36k 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 (-3.0% appreciation + 1.0% rent growth), your $336k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 $700k; list at $1.20M implies a 71% 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 $1,127,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% 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 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.91% ✓
• Cap rate: 16.13%
• Cash-on-cash: 35.14%
• DSCR: 2.56
• GRM: 4.4

CMA / ARV

• ARV (median comp): $1,490,022
• List price: $1,199,999
• Delta: -19.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2368 Allesandro St	0.52mi	8/4.0	3,840 (+8%)	18mo	$945,000	$246	46
2106 Valentine St	0.70mi	7/4.0 (-1)	3,258 (-8%)	13mo	$1,525,000	$468	38
2916 Marsh St	0.51mi	7/4.0 (-1)	3,088 (-13%)	24mo	$1,135,000	$368	30

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 · 1.02% rent growth · sell at horizon

5-year hold

• IRR: 28.5%
• Equity multiple: 2.15×
• Total profit: $387,912
• Equity at exit: $178,924

10-year hold

• IRR: 34.7%
• Equity multiple: 3.89×
• Total profit: $969,878
• Equity at exit: $103,754

Cash invested: $336,000 (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 90039

• Rents YoY: 1.0%
• Active inventory: 103
• Price-to-rent: 48.1×

Monthly cashflow live

• Estimated rent: $22,863 medium
• Mortgage (P&I): −$6,293
• Tax from tax record: −$1,429 /mo · $17,143/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,801
• Net cashflow: $9,840

Break-even live

Break-even rent $10,407

Max offer price $1,199,999

Occupancy floor 52%

Sensitivity live

Price	-10% $10,520	-5% $10,180	+0% $9,840	+5% $9,501	+10% $9,161
Rent	-10% $8,034	-5% $8,937	+0% $9,840	+5% $10,743	+10% $11,646
Rate	-1.0pp $10,445	-0.5pp $10,145	base $9,840	+0.5pp $9,529	+1.0pp $9,213

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

Units	Beds	Baths	Est. rent
▸ 11× units	1	—	$22,858
Total (11 units)			$22,863

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $1,199,999 Active 75 DOM
2. 2026-06-18
   days on market $1,199,999 Active 72 DOM
3. 2026-06-17
   days on market $1,199,999 Active 71 DOM
4. 2026-06-16
   days on market $1,199,999 Active 70 DOM
5. 2026-06-15
   days on market $1,199,999 Active 69 DOM
6. 2026-06-13
   days on market $1,199,999 Active 67 DOM
7. 2026-06-09
   days on market $1,199,999 Active 63 DOM
8. 2026-06-08
   days on market $1,199,999 Active 62 DOM
9. 2026-06-07
   days on market $1,199,999 Active 61 DOM
10. 2026-06-04
    days on market $1,199,999 Active 58 DOM
11. 2026-06-03
    days on market $1,199,999 Active 57 DOM
12. 2026-06-02
    days on market $1,199,999 Active 56 DOM
13. 2026-06-01
    days on market $1,199,999 Active 55 DOM
14. 2026-05-31
    days on market $1,199,999 Active 54 DOM
15. 2026-04-07
    listed $1,199,999 Active 806-char remark

    Show marketing remark (806 chars)

    Four-unit multifamily opportunity in the sought-after Elysian Valley (Frogtown) submarket of Los Angeles. The property features four 2-bedroom, 1-bathroom units with functional layouts that continue to attract stable tenancy. The building has seen various improvements over time, supporting overall livability and ongoing performance. Elysian Valley continues to gain attention for its unique blend of residential charm and creative energy, anchored by the LA River path and an expanding mix of dining, retail, and local businesses. Its central location provides convenient access to Downtown Los Angeles, Silver Lake, Echo Park, and major transportation corridors. This is an ideal investment for buyers seeking exposure to a neighborhood with strong tenant demand, lifestyle appeal, and continued growth.

16. 2026-03-31
    historical
17. 2026-01-15
    price $1,200,000
18. 2025-10-28
    listed $1,224,000 Active
19. 2025-08-28
    historical
20. 2025-08-12
    price $1,224,000
21. 2025-05-07
    listed $1,250,000 Active
22. 2025-05-05
    historical
23. 2023-11-11
    historical
24. 2023-10-27
    price $1,299,997
25. 2023-07-13
    price $1,299,998
26. 2023-04-07
    listed $1,299,999 Active
27. 2023-04-05
    historical
28. 2022-07-14
    historical
29. 2022-03-22
    listed $1,350,000 Active
30. 2007-02-05
    soldstatus $700,000
31. 2005-10-08
    historical
32. 2005-07-08
    listed
33. 1984-07-03
    soldstatus $295,000

ⓘ 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: $17,143 · $1,429/mo
• Projected year-2 tax: $17,143 · $1,429/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 ≥94°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: $274,356
• − Mortgage interest: −$67,219
• − Property taxes: −$17,143
• − Insurance: −$6,000
• − Repairs & maintenance: −$21,948
• − Management: −$21,948
• − Depreciation: −$34,909
• Taxable income: $105,188
• Est. tax owed @ 24.0%: −$25,245
• After-tax cash flow: $92,838/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): 28,884
• Household income: $113,818
• Rent vs Own: 54.3% rent · 45.7% own
• Severe rent burden: 1726.0

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 0.69)
• Race & ethnicity: White 42% Hispanic / Latino 31% Asian 19% Two or more races 14% Black 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Romanian 2% Italian 2% Scotch-Irish 2%
• Foreign-born: 30% · Canada, China, South Korea
• Languages at home: 59% English-only · Spanish 25% Tagalog/Filipino 8% Other Indo-European 2%

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: ▼ -987.09%
• Current HPI: 469.7964
• Rent YoY: ▲ 1.02%
• 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

+306.8% since first listed

19 events — show timeline

• 2026-04-07 Listed $1,199,999 CRMLS
• 2026-03-31 Listing Removed — CRMLS
• 2026-01-15 Price Changed $1,200,000 CRMLS
• 2025-10-28 Listed $1,224,000 CRMLS
• 2025-08-28 Listing Removed — CRMLS
• 2025-08-12 Price Changed $1,224,000 CRMLS
• 2025-05-07 Listed $1,250,000 CRMLS
• 2025-05-05 Coming Soon — CRMLS
• 2023-11-11 Listing Removed — CRMLS
• 2023-10-27 Price Changed $1,299,997 CRMLS
• 2023-07-13 Price Changed $1,299,998 CRMLS
• 2023-04-07 Listed $1,299,999 CRMLS
• 2023-04-05 Coming Soon — CRMLS
• 2022-07-14 Listing Removed — CRMLS
• 2022-03-22 Listed $1,350,000 CRMLS
• 2007-02-05 Sold (Public Records) $700,000 Public Records
• 2005-10-08 Delisted — TheMLS
• 2005-07-08 Listed — TheMLS
• 1984-07-03 Sold (Public Records) $295,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $17,143 · +1.3% YoY. Source: county tax records.