820 Chestnut Ave · Los Angeles, CA 90042

$2,295,000

16 bd · 16.0 ba · 10,492 sqft · MultiFamily public records · 88 Days on market

Built 1959 0.37 ac lot $219/sqft · 44% below area Est $4116k · 44% 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• 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 (5+ Unit). Listing-text estimate: 14 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

* * PRICE REDUCED * * New Metrics: $164K/Door, 9.16 GRM, 218/SF, 6.81% Cap Rate * * We are proud to present an extremely rare 43-unit portfolio opportunity in Highland Park, one of LA's hottest and most sought-after sub-markets: 820 Chestnut Ave, a 14-unit mid-century building. The property was built in 1959 and features a 10,492 square foot building situated on a large 15,933 square foot lot, zoned RD1.5-1. The property offers an excellent unit mix consisting of eight (1+1) units, three (2+1) units, two (2+2) units, and one (0+1) unit with 2 UNITS DELIVERED VACANT. Offered for sale for the first time in 17 years, the asset presents an excellent value-add opportunity with a compelling basis and potential to further enhance returns through rental upside and multiple ADU additions. Ideally located in a quiet and quaint neighborhood, tenants will enjoy close proximity to LA's top retail corridors of York Blvd and Figueroa Street, as well as easy access to South Pasadena and Pasadena. See Listing Details. DISCLOSURE: Buyers are advised to conduct independent, thorough due diligence, including but not limited to verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & any Q Conditions, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibility.

Key facts

• 0.37 acre lot
• 30 parking spots
• Built 1959

What this means for you Summary

Snapshot

• This is a 9×1bd/1ba + 3×2bd/1ba + 2×2bd/2ba units multifamily listed at $2.29M.

Deal economics

• At list price, monthly cash flow is $12k ($139k/yr) — positive. Per door: $830/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($33k rent vs $2.29M).
• Recommended offer: $2.16M (6.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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-, 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 rising (+1.3%/yr); 182 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 $33,247/mo this rent would consume 419% of the median local household income ($95k/yr) (locally 2699% 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 $16k of loan paydown is wiped out by about $69k 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 + 1.3% rent growth), your $643k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($2.16M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $1.18M; list at $2.29M implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — 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 $2,157,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 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 1959 — 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: 1.45% ✓
• Cap rate: 12.37%
• Cash-on-cash: 21.70%
• DSCR: 1.97
• GRM: 5.8

CMA / ARV

• ARV (median comp): $4,115,633
• List price: $2,295,000
• Delta: -44.24%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.34% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.49×
• Total profit: $313,285
• Equity at exit: $342,192

10-year hold

• IRR: 20.1%
• Equity multiple: 2.57×
• Total profit: $1,007,930
• Equity at exit: $198,430

Cash invested: $642,600 (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 90042

• Rents YoY: 1.3%
• Active inventory: 182
• Price-to-rent: 83.4×

Monthly cashflow live

• Estimated rent: $33,247 high
• Mortgage (P&I): −$12,035
• Tax from tax record: −$1,654 /mo · $19,850/yr
• Insurance: −$956
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,982
• Net cashflow: $11,619

Break-even live

Break-even rent $18,539

Max offer price $2,295,000

Occupancy floor 60%

Sensitivity live

Price	-10% $12,919	-5% $12,269	+0% $11,619	+5% $10,970	+10% $10,320
Rent	-10% $8,993	-5% $10,306	+0% $11,619	+5% $12,933	+10% $14,246
Rate	-1.0pp $12,775	-0.5pp $12,203	base $11,619	+0.5pp $11,025	+1.0pp $10,420

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

Units	Beds	Baths	Est. rent
▸ 9× units	1	1	$20,637
▸ 3× units	2	1	$7,569
▸ 2× units	2	2	$5,046
Total (14 units)			$33,247

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: $573,750
• Closing costs: $68,850
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-16
   status $2,295,000 Pending 88 DOM
2. 2026-06-15
   days on market $2,295,000 Active 88 DOM
3. 2026-06-13
   days on market $2,295,000 Active 86 DOM
4. 2026-06-09
   days on market $2,295,000 Active 82 DOM
5. 2026-06-08
   days on market $2,295,000 Active 81 DOM
6. 2026-06-07
   days on market $2,295,000 Active 80 DOM
7. 2026-06-04
   days on market $2,295,000 Active 77 DOM
8. 2026-06-03
   days on market $2,295,000 Active 76 DOM
9. 2026-06-02
   days on market $2,295,000 Active 75 DOM
10. 2026-06-01
    days on market $2,295,000 Active 74 DOM
11. 2026-05-31
    days on market $2,295,000 Active 73 DOM
12. 2026-05-13
    price $2,295,000 1424-char remark

    Show marketing remark (1424 chars)

    * * PRICE REDUCED * * New Metrics: $164K/Door, 9.16 GRM, 218/SF, 6.81% Cap Rate * * We are proud to present an extremely rare 43-unit portfolio opportunity in Highland Park, one of LA's hottest and most sought-after sub-markets: 820 Chestnut Ave, a 14-unit mid-century building. The property was built in 1959 and features a 10,492 square foot building situated on a large 15,933 square foot lot, zoned RD1.5-1. The property offers an excellent unit mix consisting of eight (1+1) units, three (2+1) units, two (2+2) units, and one (0+1) unit with 2 UNITS DELIVERED VACANT. Offered for sale for the first time in 17 years, the asset presents an excellent value-add opportunity with a compelling basis and potential to further enhance returns through rental upside and multiple ADU additions. Ideally located in a quiet and quaint neighborhood, tenants will enjoy close proximity to LA's top retail corridors of York Blvd and Figueroa Street, as well as easy access to South Pasadena and Pasadena. See Listing Details. DISCLOSURE: Buyers are advised to conduct independent, thorough due diligence, including but not limited to verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & any Q Conditions, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibility.

13. 2026-03-19
    listed $2,495,000 Active 1424-char remark

    Show marketing remark (1424 chars)

    * * PRICE REDUCED * * New Metrics: $164K/Door, 9.16 GRM, 218/SF, 6.81% Cap Rate * * We are proud to present an extremely rare 43-unit portfolio opportunity in Highland Park, one of LA's hottest and most sought-after sub-markets: 820 Chestnut Ave, a 14-unit mid-century building. The property was built in 1959 and features a 10,492 square foot building situated on a large 15,933 square foot lot, zoned RD1.5-1. The property offers an excellent unit mix consisting of eight (1+1) units, three (2+1) units, two (2+2) units, and one (0+1) unit with 2 UNITS DELIVERED VACANT. Offered for sale for the first time in 17 years, the asset presents an excellent value-add opportunity with a compelling basis and potential to further enhance returns through rental upside and multiple ADU additions. Ideally located in a quiet and quaint neighborhood, tenants will enjoy close proximity to LA's top retail corridors of York Blvd and Figueroa Street, as well as easy access to South Pasadena and Pasadena. See Listing Details. DISCLOSURE: Buyers are advised to conduct independent, thorough due diligence, including but not limited to verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & any Q Conditions, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibility.

14. 2009-11-24
    soldstatus $1,175,000
15. 2003-12-24
    soldstatus $1,175,000
16. 1986-12-10
    soldstatus $660,000

ⓘ 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: $19,850 · $1,654/mo
• Projected year-2 tax: $19,850 · $1,654/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 2/10 Low FEMA zone X (unshaded) · 5% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 21 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: $398,964
• − Mortgage interest: −$128,556
• − Property taxes: −$19,850
• − Insurance: −$11,475
• − Repairs & maintenance: −$31,917
• − Management: −$31,917
• − Depreciation: −$66,764
• Taxable income: $108,485
• Est. tax owed @ 24.0%: −$26,036
• After-tax cash flow: $113,397/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): 56,835
• Household income: $95,282
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 2699.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 56% White 24% Two or more races 22% Asian 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 36% · Canada, China, South Korea
• Languages at home: 40% English-only · Spanish 47% 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: ▼ -1816.99%
• Current HPI: 637.0324
• Rent YoY: ▲ 1.34%
• 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

+247.7% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $2,295,000 TheMLS
• 2026-03-19 Listed $2,495,000 TheMLS
• 2009-11-24 Sold (Public Records) $1,175,000 Public Records
• 2003-12-24 Sold (Public Records) $1,175,000 Public Records
• 1986-12-10 Sold (Public Records) $660,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $19,850 · +1.9% YoY. Source: county tax records.