981 S Catalina St · Los Angeles, CA 90006

$1,730,000

11 bd · 7.0 ba · 4,135 sqft · MultiFamily public records · 104 Days on market

Built 1961 5,918 sqft lot $418/sqft · 17% above area Est $1484k · 17% 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 +19.1/30.0
• DSCR +6.0/10.0
• 1% rule +4.1/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Appreciation +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• ARV discount +0.1/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Exceptional 6-Unit Multifamily Property located in the highly desirable area of Los Angeles Koreatown. This prime investment opportunity is perfectly situated in a high-demand rental neighborhood, conveniently close to public transportation, markets, churches, and a variety of restaurants. This well-maintained apartment complex features a desirable mix of spacious units, providing an excellent unit configuration for investors seeking stable cash flow and long-term appreciation. Whether you are a seasoned investor or looking to expand your real estate portfolio, this turnkey property offers immediate rental income with strong upside potential.

Key facts

• Turnkey property
• 5,918 sq ft lot
• 6 parking spots

Tags

• 6 UNIT MULTIFAMILY PROPERTY
• HIGHLY DESIRABLE AREA
• CLOSE TO PUBLIC TRANSPORTATION
• EXCELLENT UNIT CONFIGURATION
• TURNKEY PROPERTY
• IMMEDIATE RENTAL INCOME

What this means for you Summary

Snapshot

• This is a 6 × 11-bed/7.0-bath units multifamily listed at $1.73M.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $308/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 $1.58M (8.7% below list).
• Recommended offer: $1.57M (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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: Hobart Boulevard Elementary (423 students, 96% FRL); Young Oak Kim Academy (786 students, 99% FRL); Valley Academy of Arts And Sciences (math 22% / reading 52%, grade F, #578 of 1,170 statewide, top 51%, 868 students, 64% FRL) — zoned schools average 86% FRL vs 67% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.8%/yr); 165 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $15,800/mo this rent would consume 365% of the median local household income ($52k/yr) (locally 5727% 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 $12k of loan paydown is wiped out by about $52k 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 104 days — a 9% lower offer ($1.57M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $415k; list at $1.73M implies a 317% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $1,574,300 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% 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 1961 — 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: 0.91% ✗
• Cap rate: 7.57%
• Cash-on-cash: 4.57%
• DSCR: 1.20
• GRM: 9.1

CMA / ARV

• ARV (median comp): $1,484,340
• List price: $1,730,000
• Delta: 16.55%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1243 S Kenmore Ave	0.39mi	10/7.0 (-1)	3,985 (-4%)	9mo	$750,000	$188	63
1120 S Harvard Blvd	0.55mi	10/6.0 (-1)	4,488 (+8%)	5mo	$1,300,000	$290	47
2233 W 14th St	0.63mi	10/10.0 (-1)	4,576 (+11%)	4mo	$1,580,000	$345	32

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: -12.3%
• Equity multiple: 0.57×
• Total profit: $-209,672
• Equity at exit: $257,949

10-year hold

• IRR: -8.0%
• Equity multiple: 0.56×
• Total profit: $-212,500
• Equity at exit: $149,579

Cash invested: $484,400 (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 90006

• Home prices YoY: -1.2%
• Rents YoY: -0.8%
• Active inventory: 165
• Price-to-rent: 54.7×

Monthly cashflow live

• Estimated rent: $15,800 medium
• Mortgage (P&I): −$9,072
• Tax from tax record: −$843 /mo · $10,121/yr
• Insurance: −$721
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,318
• Net cashflow: $1,845

Break-even live

Break-even rent $13,464

Max offer price $1,730,000

Occupancy floor 83%

Sensitivity live

Price	-10% $2,825	-5% $2,335	+0% $1,845	+5% $1,356	+10% $866
Rent	-10% $597	-5% $1,221	+0% $1,845	+5% $2,470	+10% $3,094
Rate	-1.0pp $2,717	-0.5pp $2,285	base $1,845	+0.5pp $1,397	+1.0pp $941

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

Units	Beds	Baths	Est. rent
▸ 6× units	11	7	$15,798
Total (6 units)			$15,800

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: $432,500
• Closing costs: $51,900
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $1,730,000 Active 104 DOM
2. 2026-06-18
   days on market $1,730,000 Active 101 DOM
3. 2026-06-17
   days on market $1,730,000 Active 100 DOM
4. 2026-06-16
   days on market $1,730,000 Active 99 DOM
5. 2026-06-15
   days on market $1,730,000 Active 98 DOM
6. 2026-06-13
   days on market $1,730,000 Active 96 DOM
7. 2026-06-09
   days on market $1,730,000 Active 92 DOM
8. 2026-06-08
   days on market $1,730,000 Active 91 DOM
9. 2026-06-07
   days on market $1,730,000 Active 90 DOM
10. 2026-06-04
    days on market $1,730,000 Active 87 DOM
11. 2026-06-03
    days on market $1,730,000 Active 86 DOM
12. 2026-06-02
    days on market $1,730,000 Active 85 DOM
13. 2026-06-01
    days on market $1,730,000 Active 84 DOM
14. 2026-05-31
    days on market $1,730,000 Active 83 DOM
15. 2026-03-09
    listed $1,730,000 Active 650-char remark

    Show marketing remark (650 chars)

    Exceptional 6-Unit Multifamily Property located in the highly desirable area of Los Angeles Koreatown. This prime investment opportunity is perfectly situated in a high-demand rental neighborhood, conveniently close to public transportation, markets, churches, and a variety of restaurants. This well-maintained apartment complex features a desirable mix of spacious units, providing an excellent unit configuration for investors seeking stable cash flow and long-term appreciation. Whether you are a seasoned investor or looking to expand your real estate portfolio, this turnkey property offers immediate rental income with strong upside potential.

16. 2026-02-12
    historical
17. 2025-06-19
    listed $1,790,000 Active
18. 1989-11-14
    soldstatus $415,000

ⓘ 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: $10,121 · $843/mo
• Projected year-2 tax: $13,148 · $1,096/mo
• Expected delta: +$3,027/yr (+$252/mo · 29.9%)

ⓘ 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 ≥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: $189,600
• − Mortgage interest: −$96,907
• − Property taxes: −$10,121
• − Insurance: −$8,650
• − Repairs & maintenance: −$15,168
• − Management: −$15,168
• − Depreciation: −$50,327
• Taxable loss: −$6,741
• Est. tax savings @ 24.0%: +$1,618
• After-tax cash flow: $23,763/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): 55,527
• Household income: $51,998
• Rent vs Own: 90.3% rent · 9.7% own
• Severe rent burden: 5727.0

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: Predominantly Hispanic (71%)
• Race & ethnicity: Hispanic / Latino 71% Asian 19% Two or more races 15% White 5% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 54% · Canada, South Korea, China
• Languages at home: 16% English-only · Spanish 65% Korean 13% Tagalog/Filipino 1%

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: ▼ -4.73%
• Current HPI: 389.2079
• Rent YoY: ▼ -0.80%
• 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

+316.9% since first listed

4 events — show timeline

• 2026-03-09 Listed $1,730,000 TheMLS
• 2026-02-12 Listing Removed — CRMLS
• 2025-06-19 Listed $1,790,000 CRMLS
• 1989-11-14 Sold (Public Records) $415,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $10,121 · +1.6% YoY. Source: county tax records.