543 N Ardmore Ave · Los Angeles, CA 90004

$2,000,000

14 bd · 14.0 ba · 9,320 sqft · MultiFamily public records · 133 Days on market

Built 1958 0.25 ac lot $215/sqft · 24% below area Est $2633k · 24% under

---

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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 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

Fantastic 12 unit building that has been in the same family since it was built in 1958. The property features a desirable unit mix of 10 spacious (1Br+1Ba) units and 2 (2Br+2Ba) with an average unit size of 775 SF. Offered at under 10.8 GRM on current rents and under $240/SF, the property stands out as an excellent "value add" opportunity with appx. 56% upside in rents, NOT including ADU potential. The property has seismic retrofitting and tuck under and carport parking with ADU potential (Buyer to verify). A new roof was installed in 2025. Laundry and storage rooms in the rear. The property is located just south of Melrose Avenue in the heart of Melrose Hill. Excellent access to LA City College, as well as major employment and lifestyle hubs, including post-production studios, creative office corridors, and media companies, and is only minutes from Paramount Studios. Its central location provides convenient connectivity to Hollywood, Koreatown, Silver Lake and DTLA, making it highly attractive to professionals in the entertainment, tech, and creative sectors! With a Walk Score of 86 ("Very Walkable"), tenants enjoy easy access to nearby restaurants, cafes, and the Metro B Line. Call for a rent roll and marketing package.

Key facts

• 12 unit building
• Desirable unit mix
• Seismic retrofitting

Tags

• 12 UNIT BUILDING
• DESIRABLE UNIT MIX
• SEISMIC RETROFITTING
• CARPORT PARKING
• NEW ROOF
• LAUNDRY AND STORAGE ROOMS

What this means for you Summary

Snapshot

• This is a 10×1bd/1ba + 2×2bd/2ba units multifamily listed at $2.00M.

Deal economics

• At list price, monthly cash flow is $9k ($112k/yr) — positive. Per door: $780/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($27k rent vs $2.00M).
• Recommended offer: $1.76M (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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 soft (-1.7%/yr); 137 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $26,721/mo this rent would consume 495% of the median local household income ($65k/yr) (locally 6512% 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 $14k of loan paydown is wiped out by about $60k 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 + 0.0% rent growth), your $560k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($1.76M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $300k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,760,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% 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 1958 — 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: 1.34% ✓
• Cap rate: 11.91%
• Cash-on-cash: 20.05%
• DSCR: 1.89
• GRM: 6.2

CMA / ARV

• ARV (median comp): $2,633,020
• List price: $2,000,000
• Delta: -24.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 9.1%
• Equity multiple: 1.34×
• Total profit: $192,799
• Equity at exit: $298,207

10-year hold

• IRR: 15.8%
• Equity multiple: 2.12×
• Total profit: $629,249
• Equity at exit: $172,923

Cash invested: $560,000 (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 90004

• Rents YoY: -1.7%
• Active inventory: 137
• Price-to-rent: 75.5×

Monthly cashflow live

• Estimated rent: $26,721 high
• Mortgage (P&I): −$10,488
• Tax from tax record: −$429 /mo · $5,152/yr
• Insurance: −$833
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,611
• Net cashflow: $9,359

Break-even live

Break-even rent $14,874

Max offer price $2,000,000

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$22,060
▸ 2× units	2	2	$4,656
Total (12 units)			$26,721

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: $500,000
• Closing costs: $60,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $2,000,000 Active 133 DOM
2. 2026-06-17
   days on market $2,000,000 Active 132 DOM
3. 2026-06-16
   days on market $2,000,000 Active 131 DOM
4. 2026-06-15
   days on market $2,000,000 Active 130 DOM
5. 2026-06-13
   days on market $2,000,000 Active 128 DOM
6. 2026-06-09
   days on market $2,000,000 Active 124 DOM
7. 2026-06-08
   days on market $2,000,000 Active 123 DOM
8. 2026-06-07
   days on market $2,000,000 Active 122 DOM
9. 2026-06-04
   days on market $2,000,000 Active 119 DOM
10. 2026-06-03
    days on market $2,000,000 Active 118 DOM
11. 2026-06-02
    days on market $2,000,000 Active 117 DOM
12. 2026-06-01
    days on market $2,000,000 Active 116 DOM
13. 2026-05-31
    days on market $2,000,000 Active 115 DOM
14. 2026-05-05
    status Active 1262-char remark

    Show marketing remark (1262 chars)

    Fantastic 12 unit building that has been in the same family since it was built in 1958. The property features a desirable unit mix of 10 spacious (1Br+1Ba) units and 2 (2Br+2Ba) with an average unit size of 775 SF. Offered at under 10.8 GRM on current rents and under $240/SF, the property stands out as an excellent "value add" opportunity with appx. 56% upside in rents, NOT including ADU potential. The property has seismic retrofitting and tuck under and carport parking with ADU potential (Buyer to verify). A new roof was installed in 2025. Laundry and storage rooms in the rear. The property is located just south of Melrose Avenue in the heart of Melrose Hill. Excellent access to LA City College, as well as major employment and lifestyle hubs, including post-production studios, creative office corridors, and media companies, and is only minutes from Paramount Studios. Its central location provides convenient connectivity to Hollywood, Koreatown, Silver Lake and DTLA, making it highly attractive to professionals in the entertainment, tech, and creative sectors! With a Walk Score of 86 ("Very Walkable"), tenants enjoy easy access to nearby restaurants, cafes, and the Metro B Line. Call for a rent roll and marketing package.

15. 2026-04-22
    historical Backup Offers Accepted 1262-char remark

    Show marketing remark (1262 chars)

    Fantastic 12 unit building that has been in the same family since it was built in 1958. The property features a desirable unit mix of 10 spacious (1Br+1Ba) units and 2 (2Br+2Ba) with an average unit size of 775 SF. Offered at under 10.8 GRM on current rents and under $240/SF, the property stands out as an excellent "value add" opportunity with appx. 56% upside in rents, NOT including ADU potential. The property has seismic retrofitting and tuck under and carport parking with ADU potential (Buyer to verify). A new roof was installed in 2025. Laundry and storage rooms in the rear. The property is located just south of Melrose Avenue in the heart of Melrose Hill. Excellent access to LA City College, as well as major employment and lifestyle hubs, including post-production studios, creative office corridors, and media companies, and is only minutes from Paramount Studios. Its central location provides convenient connectivity to Hollywood, Koreatown, Silver Lake and DTLA, making it highly attractive to professionals in the entertainment, tech, and creative sectors! With a Walk Score of 86 ("Very Walkable"), tenants enjoy easy access to nearby restaurants, cafes, and the Metro B Line. Call for a rent roll and marketing package.

16. 2026-04-13
    price $2,200,000 1262-char remark

    Show marketing remark (1262 chars)

    Fantastic 12 unit building that has been in the same family since it was built in 1958. The property features a desirable unit mix of 10 spacious (1Br+1Ba) units and 2 (2Br+2Ba) with an average unit size of 775 SF. Offered at under 10.8 GRM on current rents and under $240/SF, the property stands out as an excellent "value add" opportunity with appx. 56% upside in rents, NOT including ADU potential. The property has seismic retrofitting and tuck under and carport parking with ADU potential (Buyer to verify). A new roof was installed in 2025. Laundry and storage rooms in the rear. The property is located just south of Melrose Avenue in the heart of Melrose Hill. Excellent access to LA City College, as well as major employment and lifestyle hubs, including post-production studios, creative office corridors, and media companies, and is only minutes from Paramount Studios. Its central location provides convenient connectivity to Hollywood, Koreatown, Silver Lake and DTLA, making it highly attractive to professionals in the entertainment, tech, and creative sectors! With a Walk Score of 86 ("Very Walkable"), tenants enjoy easy access to nearby restaurants, cafes, and the Metro B Line. Call for a rent roll and marketing package.

17. 2026-02-05
    listed $2,300,000 Active 1262-char remark

    Show marketing remark (1262 chars)

    Fantastic 12 unit building that has been in the same family since it was built in 1958. The property features a desirable unit mix of 10 spacious (1Br+1Ba) units and 2 (2Br+2Ba) with an average unit size of 775 SF. Offered at under 10.8 GRM on current rents and under $240/SF, the property stands out as an excellent "value add" opportunity with appx. 56% upside in rents, NOT including ADU potential. The property has seismic retrofitting and tuck under and carport parking with ADU potential (Buyer to verify). A new roof was installed in 2025. Laundry and storage rooms in the rear. The property is located just south of Melrose Avenue in the heart of Melrose Hill. Excellent access to LA City College, as well as major employment and lifestyle hubs, including post-production studios, creative office corridors, and media companies, and is only minutes from Paramount Studios. Its central location provides convenient connectivity to Hollywood, Koreatown, Silver Lake and DTLA, making it highly attractive to professionals in the entertainment, tech, and creative sectors! With a Walk Score of 86 ("Very Walkable"), tenants enjoy easy access to nearby restaurants, cafes, and the Metro B Line. Call for a rent roll and marketing package.

18. 2024-03-28
    historical $1,795
19. 2024-03-21
    price $1,795
20. 2024-03-13
    listed $1,845
21. 2023-09-30
    historical $1,745
22. 2023-09-07
    price $1,745
23. 2023-08-24
    listed $1,795
24. 2022-06-06
    price $1,745

ⓘ 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: $5,152 · $429/mo
• Projected year-2 tax: $15,200 · $1,267/mo
• Expected delta: +$10,048/yr (+$837/mo · 195.1%)

ⓘ 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 · 21 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: $320,652
• − Mortgage interest: −$112,031
• − Property taxes: −$5,152
• − Insurance: −$10,000
• − Repairs & maintenance: −$25,652
• − Management: −$25,652
• − Depreciation: −$58,182
• Taxable income: $83,983
• Est. tax owed @ 24.0%: −$20,156
• After-tax cash flow: $92,149/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): 58,484
• Household income: $64,826
• Rent vs Own: 83.8% rent · 16.2% own
• Severe rent burden: 6512.0

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: Hispanic / Latino 46% Asian 25% White 21% Two or more races 11% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 1% Romanian 1% Scotch-Irish 1%
• Foreign-born: 47% · Canada, South Korea, China
• Languages at home: 34% English-only · Spanish 40% Korean 10% Tagalog/Filipino 8%

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: ▼ -896.52%
• Current HPI: 421.3689
• Rent YoY: ▼ -1.71%
• 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

+125974.5% since first listed

11 events — show timeline

• 2026-05-05 Relisted — TheMLS
• 2026-04-22 Contingent — TheMLS
• 2026-04-13 Price Changed $2,200,000 TheMLS
• 2026-02-05 Listed $2,300,000 TheMLS
• 2024-03-28 Rental Removed $1,795 APPFOLIO
• 2024-03-21 Price Changed $1,795 APPFOLIO
• 2024-03-13 Listed for Rent $1,845 APPFOLIO
• 2023-09-30 Rental Removed $1,745 APPFOLIO
• 2023-09-07 Price Changed $1,745 APPFOLIO
• 2023-08-24 Listed for Rent $1,795 APPFOLIO
• 2022-06-06 Price Changed $1,745 APPFOLIO

Property tax history

+1.7%/yr

Latest (2025): $5,152 · +3.5% YoY. Source: county tax records.