275 S Union Ave · Los Angeles, CA 90026

$1,199,999

3 bd · 3.0 ba · 3,695 sqft · MultiFamily public records · 137 Days on market

Built 1905 6,829 sqft lot $325/sqft · 17% above area Est $1097k · 9% over

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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 +18.5/30.0
• DSCR +5.8/10.0
• 1% rule +4.6/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• ARV discount +3.3/15.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Positioned in the heart of Historic Filipinotown within Los Angeles, and moments from the energy of Silver Lake and Echo Park, this exceptional 3-unit multifamily asset delivers a rare combination of immediate upside, strong yield, and long-term appreciation. The property features an excellent unit mix consisting of one 5-bedroom unit, one 4-bedroom unit, and one 3-bedroom unit, offering oversized layouts that are highly sought after by today's urban renters. Two of the three units are delivered vacant, allowing investors to immediately capture full market rents and execute their business plan without delay. Tenants are responsible for all utilities, keeping operating expenses lean and maximizing net income. On a proforma basis (after lease-up of the vacant units), the property operates at an approximate 9.2% cap rate and 7.96 GRM, generating strong positive cash flow. An on-site storage structure presents potential ADU conversion upside, subject to buyer verification with the city and buyer's own professionals, adding an additional value-add component for future growth. -- The property is situated within an R3 zoning designation, which may allow for by-right development of up to approximately 8 residential units, with additional density potential under the City of Los Angeles ED1 program, potentially supporting 20+ units, subject entirely to buyer verification. -- Located near major employment hubs, dining, nightlife, transit corridors, and cultural landmarks, this asset benefits from consistent rental demand in one of Los Angeles' most dynamic and supply-constrained submarkets. Full Offering Memorandum & Property Package available upon request. DO NOT DISTURB OCCUPANTS. Tours of vacant units available by appointment; full interior access subject to accepted offer. DISCLAIMER: Cash flow, net income, and returns may vary based on interest rates, loan terms, and down payment. Buyer to complete full due diligence and come to their own conclusions.

Key facts

• Excellent unit mix
• Immediate upside
• Strong yield

Tags

• IMMEDIATE UPSIDE
• STRONG YIELD
• LONG-TERM APPRECIATION
• EXCELLENT UNIT MIX
• OVERSIZED LAYOUTS
• TWO UNITS DELIVERED VACANT

What this means for you Summary

Snapshot

• This is a 1×5bd/1.3ba + 2×4bd/1.3ba units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $381/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 $1.15M (3.9% below list).
• Recommended offer: $1.06M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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: Union Avenue Elementary (847 students, 98% FRL); Sal Castro Middle (329 students, 98% FRL); Ramon C. Cortines School of Visual And Performing Arts (math 18% / reading 62%, grade F, #514 of 1,170 statewide, top 44%, 1,171 students, 69% FRL) — zoned schools average 89% FRL vs 67% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.0%/yr); 190 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $11,526/mo this rent would consume 158% of the median local household income ($87k/yr) (locally 4974% 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.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($1.06M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $175k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $994k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — 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 $1,055,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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 1905 — 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. 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?
10. 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.
11. 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.
12. 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: 0.96% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.08%
• DSCR: 1.18
• GRM: 8.7

CMA / ARV

• ARV (median comp): $1,096,817
• List price: $1,199,999
• Delta: 9.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1509 Bellevue Ave	0.75mi	4/4.0 (+1)	4,144 (+12%)	23mo	$995,000	$240	16

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.54×
• Total profit: $-155,444
• Equity at exit: $178,924

10-year hold

• IRR: -9.6%
• Equity multiple: 0.49×
• Total profit: $-172,256
• 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 90026

• Rents YoY: -0.0%
• Active inventory: 190
• Price-to-rent: 22.0×

Monthly cashflow live

• Estimated rent: $11,526 high
• Mortgage (P&I): −$6,293
• Tax from tax record: −$1,169 /mo · $14,032/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,420
• Net cashflow: $1,143

Break-even live

Break-even rent $10,079

Max offer price $1,199,999

Occupancy floor 85%

Sensitivity live

Price	-10% $1,823	-5% $1,483	+0% $1,143	+5% $804	+10% $464
Rent	-10% $233	-5% $688	+0% $1,143	+5% $1,599	+10% $2,054
Rate	-1.0pp $1,748	-0.5pp $1,448	base $1,143	+0.5pp $832	+1.0pp $516

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

Units	Beds	Baths	Est. rent
1× unit	5	1.3	$4,535
▸ 2× units	4	1.3	$6,992
Total (3 units)			$11,526

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: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2001 Bellevue Ave Los Angeles, CA	4.0	4.5	2651	$8,000	$3.02	26d	1	0.74mi
1046 W Kensington Rd Los Angeles, CA	3.0	4.5	3865	$12,000	$3.10	20d	1	0.92mi
1000 W 8th St Los Angeles, CA	4.0	1.0–2.5	1995	$19,879	$9.96	0d	18	0.94mi
2801 Sunset Pl Los Angeles, CA	3.0	1.0–3.0	1680	$14,711	$8.76	0d	33	0.95mi
814 E Edgeware Rd Los Angeles, CA	3.0	3.0	2944	$9,750	$3.31	4d	1	1.01mi
900 W Olympic Blvd Los Angeles, CA	1.0–3.0	2.0–4.0	2625	$25,000	$9.52	26d	7	1.16mi
900 W Olympic Blvd Los Angeles, CA	1.0–3.0	2.0–4.0	2620	$25,000	$9.54	7d	9	1.16mi
717 W Olympic Blvd Los Angeles, CA	1.0–2.0	1.0–2.5	1760	$8,335	$4.73	12d	15	1.20mi
695 S Vermont Ave Los Angeles, CA	3.0	1.0–3.0	6378	$5,167	$0.81	22d	29	1.37mi
1347 Valencia St Unit 1347 Los Angeles, CA	4.0	8.0	3724	$2,499	$0.67	45d	1	1.41mi
1200 S Figueroa St Los Angeles, CA	1.0–3.0	1.0–4.0	2305	$23,215	$10.07	0d	36	1.42mi

Listing history 30 events

1. 2026-06-21
   days on market $1,199,999 Active 137 DOM
2. 2026-06-18
   days on market $1,199,999 Active 134 DOM
3. 2026-06-17
   days on market $1,199,999 Active 133 DOM
4. 2026-06-16
   days on market $1,199,999 Active 132 DOM
5. 2026-06-15
   days on market $1,199,999 Active 131 DOM
6. 2026-06-13
   days on market $1,199,999 Active 129 DOM
7. 2026-06-09
   days on market $1,199,999 Active 125 DOM
8. 2026-06-08
   days on market $1,199,999 Active 124 DOM
9. 2026-06-07
   days on market $1,199,999 Active 123 DOM
10. 2026-06-04
    days on market $1,199,999 Active 120 DOM
11. 2026-06-03
    days on market $1,199,999 Active 119 DOM
12. 2026-06-02
    days on market $1,199,999 Active 118 DOM
13. 2026-06-01
    days on market $1,199,999 Active 117 DOM
14. 2026-05-31
    days on market $1,199,999 Active 116 DOM
15. 2026-05-19
    price $1,199,999 1986-char remark

    Show marketing remark (1986 chars)

    Positioned in the heart of Historic Filipinotown within Los Angeles, and moments from the energy of Silver Lake and Echo Park, this exceptional 3-unit multifamily asset delivers a rare combination of immediate upside, strong yield, and long-term appreciation. The property features an excellent unit mix consisting of one 5-bedroom unit, one 4-bedroom unit, and one 3-bedroom unit, offering oversized layouts that are highly sought after by today's urban renters. Two of the three units are delivered vacant, allowing investors to immediately capture full market rents and execute their business plan without delay. Tenants are responsible for all utilities, keeping operating expenses lean and maximizing net income. On a proforma basis (after lease-up of the vacant units), the property operates at an approximate 9.2% cap rate and 7.96 GRM, generating strong positive cash flow. An on-site storage structure presents potential ADU conversion upside, subject to buyer verification with the city and buyer's own professionals, adding an additional value-add component for future growth. -- The property is situated within an R3 zoning designation, which may allow for by-right development of up to approximately 8 residential units, with additional density potential under the City of Los Angeles ED1 program, potentially supporting 20+ units, subject entirely to buyer verification. -- Located near major employment hubs, dining, nightlife, transit corridors, and cultural landmarks, this asset benefits from consistent rental demand in one of Los Angeles' most dynamic and supply-constrained submarkets. Full Offering Memorandum & Property Package available upon request. DO NOT DISTURB OCCUPANTS. Tours of vacant units available by appointment; full interior access subject to accepted offer. DISCLAIMER: Cash flow, net income, and returns may vary based on interest rates, loan terms, and down payment. Buyer to complete full due diligence and come to their own conclusions.

16. 2026-03-10
    price $1,299,999 1986-char remark

    Show marketing remark (1986 chars)

    Positioned in the heart of Historic Filipinotown within Los Angeles, and moments from the energy of Silver Lake and Echo Park, this exceptional 3-unit multifamily asset delivers a rare combination of immediate upside, strong yield, and long-term appreciation. The property features an excellent unit mix consisting of one 5-bedroom unit, one 4-bedroom unit, and one 3-bedroom unit, offering oversized layouts that are highly sought after by today's urban renters. Two of the three units are delivered vacant, allowing investors to immediately capture full market rents and execute their business plan without delay. Tenants are responsible for all utilities, keeping operating expenses lean and maximizing net income. On a proforma basis (after lease-up of the vacant units), the property operates at an approximate 9.2% cap rate and 7.96 GRM, generating strong positive cash flow. An on-site storage structure presents potential ADU conversion upside, subject to buyer verification with the city and buyer's own professionals, adding an additional value-add component for future growth. -- The property is situated within an R3 zoning designation, which may allow for by-right development of up to approximately 8 residential units, with additional density potential under the City of Los Angeles ED1 program, potentially supporting 20+ units, subject entirely to buyer verification. -- Located near major employment hubs, dining, nightlife, transit corridors, and cultural landmarks, this asset benefits from consistent rental demand in one of Los Angeles' most dynamic and supply-constrained submarkets. Full Offering Memorandum & Property Package available upon request. DO NOT DISTURB OCCUPANTS. Tours of vacant units available by appointment; full interior access subject to accepted offer. DISCLAIMER: Cash flow, net income, and returns may vary based on interest rates, loan terms, and down payment. Buyer to complete full due diligence and come to their own conclusions.

17. 2026-02-04
    listed $1,375,000 Active 1986-char remark

    Show marketing remark (1986 chars)

    Positioned in the heart of Historic Filipinotown within Los Angeles, and moments from the energy of Silver Lake and Echo Park, this exceptional 3-unit multifamily asset delivers a rare combination of immediate upside, strong yield, and long-term appreciation. The property features an excellent unit mix consisting of one 5-bedroom unit, one 4-bedroom unit, and one 3-bedroom unit, offering oversized layouts that are highly sought after by today's urban renters. Two of the three units are delivered vacant, allowing investors to immediately capture full market rents and execute their business plan without delay. Tenants are responsible for all utilities, keeping operating expenses lean and maximizing net income. On a proforma basis (after lease-up of the vacant units), the property operates at an approximate 9.2% cap rate and 7.96 GRM, generating strong positive cash flow. An on-site storage structure presents potential ADU conversion upside, subject to buyer verification with the city and buyer's own professionals, adding an additional value-add component for future growth. -- The property is situated within an R3 zoning designation, which may allow for by-right development of up to approximately 8 residential units, with additional density potential under the City of Los Angeles ED1 program, potentially supporting 20+ units, subject entirely to buyer verification. -- Located near major employment hubs, dining, nightlife, transit corridors, and cultural landmarks, this asset benefits from consistent rental demand in one of Los Angeles' most dynamic and supply-constrained submarkets. Full Offering Memorandum & Property Package available upon request. DO NOT DISTURB OCCUPANTS. Tours of vacant units available by appointment; full interior access subject to accepted offer. DISCLAIMER: Cash flow, net income, and returns may vary based on interest rates, loan terms, and down payment. Buyer to complete full due diligence and come to their own conclusions.

18. 2025-03-07
    price
19. 2025-01-16
    listed Active
20. 2024-09-28
    price
21. 2024-08-27
    listed Active
22. 2021-08-27
    historical
23. 2021-06-23
    listed $1,695,000 Active
24. 2020-12-18
    soldstatus $994,000 Closed Sale
25. 2020-12-18
    soldstatus $994,000
26. 2020-11-11
    status Pending Sale
27. 2020-08-04
    listed $1,250,000 Active
28. 2005-11-09
    soldstatus $515,000
29. 2003-10-31
    listed $390,000
30. 1988-03-29
    soldstatus $155,000

ⓘ 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: $14,032 · $1,169/mo
• Projected year-2 tax: $14,032 · $1,169/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 ≥90°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: $138,312
• − Mortgage interest: −$67,219
• − Property taxes: −$14,032
• − Insurance: −$6,000
• − Repairs & maintenance: −$11,065
• − Management: −$11,065
• − Depreciation: −$34,909
• Taxable loss: −$5,978
• Est. tax savings @ 24.0%: +$1,435
• After-tax cash flow: $15,154/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): 62,692
• Household income: $87,334
• Rent vs Own: 76.5% rent · 23.5% own
• Severe rent burden: 4974.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 46% White 31% Asian 13% Two or more races 13% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Lithuanian 2% Italian 2% Romanian 1%
• Foreign-born: 34% · Canada, China, South Korea
• Languages at home: 47% English-only · Spanish 39% Tagalog/Filipino 5% Chinese 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: ▼ -1087.70%
• Current HPI: 456.3465
• Rent YoY: ▬ -0.01%
• 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

+674.2% since first listed

16 events — show timeline

• 2026-05-19 Price Changed $1,199,999 TheMLS
• 2026-03-10 Price Changed $1,299,999 TheMLS
• 2026-02-04 Listed $1,375,000 TheMLS
• 2025-03-07 Price Changed — TheMLS
• 2025-01-16 Listed — TheMLS
• 2024-09-28 Price Changed — TheMLS
• 2024-08-27 Listed — TheMLS
• 2021-08-27 Listing Removed — CRMLS
• 2021-06-23 Listed $1,695,000 CRMLS
• 2020-12-18 Sold (Public Records) $994,000 Public Records
• 2020-12-18 Sold (MLS) $994,000 CRMLS
• 2020-11-11 Pending — CRMLS
• 2020-08-04 Listed $1,250,000 CRMLS
• 2005-11-09 Sold (Public Records) $515,000 Public Records
• 2003-10-31 Listed $390,000 CRMLS
• 1988-03-29 Sold (Public Records) $155,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $14,032 · +1.2% YoY. Source: county tax records.