860 W 54th · Los Angeles, CA 90037

$599,000

2 bd · 1.0 ba · 1,132 sqft · MultiFamily public records · 136 Days on market

Built 1907 5,397 sqft lot $529/sqft · 47% above area Est $677k · 12% under ↓ 9% since listing

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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 +12.7/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• 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

Great Investment opportunity. 3 unit property located in the city of Los Angeles. Live in one and rent out the others. Front unit is currently vacant and in need of some TLC. Property sold "As Is", Back 2 units are rent control with long term tenants. Centrally located, close to everything you need.

Key facts

• 3 unit property
• Centrally located
• Vacant front unit

Tags

• INVESTMENT OPPORTUNITY
• 3 UNIT PROPERTY
• VACANT FRONT UNIT
• RENT CONTROLLED UNITS
• CENTRALLY LOCATED

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/2.5-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $767/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $599k).
• Recommended offer: $527k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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 rising (+1.7%/yr); 104 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $7,434/mo this rent would consume 155% of the median local household income ($58k/yr) (locally 4200% 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 $4k of loan paydown is wiped out by about $18k 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 + 1.7% rent growth), your $168k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($527k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• 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 $527,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 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 1907 — 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: 1.24% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.46%
• DSCR: 1.73
• GRM: 6.7

CMA / ARV

• ARV (median comp): $677,013
• List price: $599,000
• Delta: -11.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.69% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.24×
• Total profit: $39,549
• Equity at exit: $89,313

10-year hold

• IRR: 14.4%
• Equity multiple: 2.09×
• Total profit: $183,490
• Equity at exit: $51,791

Cash invested: $167,720 (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 90037

• Rents YoY: 1.7%
• Active inventory: 104
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $7,434 medium
• Mortgage (P&I): −$3,141
• Tax from tax record: −$182 /mo · $2,178/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,561
• Net cashflow: $2,301

Break-even live

Break-even rent $4,522

Max offer price $599,000

Occupancy floor 64%

Sensitivity live

Price	-10% $2,640	-5% $2,470	+0% $2,301	+5% $2,131	+10% $1,961
Rent	-10% $1,713	-5% $2,007	+0% $2,301	+5% $2,594	+10% $2,888
Rate	-1.0pp $2,602	-0.5pp $2,453	base $2,301	+0.5pp $2,145	+1.0pp $1,987

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	2.5	$7,434
Total (3 units)			$7,434

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
844 W 54th St Los Angeles, CA	3.0	2.0	900	$2,895	$3.22	17d	1	0.02mi
860 W 56th St Los Angeles, CA	3.0	1.0	1344	$2,849	$2.12	0d	1	0.12mi
860 W 56th St Unit 1 Los Angeles, CA	3.0	1.0	1344	$2,995	$2.23	17d	1	0.12mi
1050 57th St Unit 25 Los Angeles, CA	3.0	1.0	1000	$2,566	$2.57	0d	1	0.31mi
1050 57th St Unit 105025 Los Angeles, CA	3.0	1.0	1000	$2,933	$2.93	17d	1	0.31mi
1138 W 52nd St Los Angeles, CA	2.0	1.5	750	$2,500	$3.33	25d	1	0.37mi
5900 S Hoover St Apt 1 Los Angeles, CA	2.0	2.0	1096	$2,700	$2.46	44d	1	0.42mi
5847 Denver Ave Los Angeles, CA	2.0	1.0	844	$2,150	$2.55	44d	1	0.43mi
720 W 47th St Los Angeles, CA	1.0	1.0	810	$1,950	$2.41	44d	1	0.53mi
6010 Kansas Ave Los Angeles, CA	1.0	1.0	789	$1,980	$2.51	44d	1	0.59mi
326 1/2 W 51st St Los Angeles, CA	3.0	1.0	1100	$2,450	$2.23	6d	1	0.60mi
326 W 51st St Los Angeles, CA	3.0	1.5	1100	$2,450	$2.23	6d	1	0.60mi
324 1/2 W 51st St Los Angeles, CA	3.0	1.0	1100	$2,450	$2.23	44d	1	0.60mi
1050 W 60th Pl Unit 1050 1/2 Los Angeles, CA	2.0	1.0	800	$1,795	$2.24	25d	1	0.62mi
1052 W 60th Pl Los Angeles, CA	2.0	1.0	850	$1,995	$2.35	25d	1	0.62mi
4506 1/2 S Hoover St Los Angeles, CA	1.0	1.0	750	$1,795	$2.39	19d	1	0.65mi
917 W 62nd Pl Unit 917 Los Angeles, CA	3.0	1.0	1000	$4,800	$4.80	44d	1	0.69mi
1217 W 60th Pl Los Angeles, CA	2.0	1.0	864	$2,800	$3.24	44d	1	0.69mi
1033 W 62nd St Los Angeles, CA	2.0	1.0	725	$2,500	$3.45	25d	1	0.69mi
1219 W 47th St Los Angeles, CA	2.0	1.0	750	$2,500	$3.33	44d	1	0.70mi
1049 W 62nd St Unit 1049 Los Angeles, CA	3.0	2.0	1129	$3,695	$3.27	4d	1	0.70mi
235 W 58th St Los Angeles, CA	3.0	2.0	1225	$4,250	$3.47	44d	1	0.70mi
1439 W 53rd St Unit 1441 Los Angeles, CA	1.0	1.0	900	$1,900	$2.11	44d	1	0.73mi
244 W 49th St Los Angeles, CA	3.0	2.0	1212	$3,100	$2.56	8d	1	0.74mi
244 W 49th St Los Angeles, CA	3.0	2.0	1212	$3,100	$2.56	44d	1	0.74mi
708 W Vernon Ave Los Angeles, CA	2.0	1.0	900	$2,295	$2.55	44d	1	0.75mi
847 W Gage Ave Unit 1 Los Angeles, CA	3.0	2.0	1224	$3,200	$2.61	44d	1	0.75mi
847 W Gage Ave Los Angeles, CA	3.0	2.0	1224	$3,200	$2.61	25d	1	0.75mi
241 W 49th St Los Angeles, CA	3.0	2.0	1200	$2,900	$2.42	13d	1	0.75mi
850 W Gage Ave Unit 850 Los Angeles, CA	3.0	2.0	1281	$2,999	$2.34	0d	1	0.78mi
850 W Gage Ave Unit 850 Los Angeles, CA	3.0	2.0	1281	$3,199	$2.50	6d	1	0.78mi
850 W Gage Ave Unit 852 Los Angeles, CA	3.0	2.0	1201	$3,071	$2.56	8d	1	0.78mi
629 W Vernon Ave Unit 2 Los Angeles, CA	3.0	1.0	1000	$2,500	$2.50	11d	1	0.80mi
4815 Normandie Ave Unit 1/2 Los Angeles, CA	2.0	1.0	725	$2,095	$2.89	25d	1	0.80mi
1510 W 52nd St Unit 1510 Los Angeles, CA	2.0	1.0	750	$2,520	$3.36	45d	1	0.80mi
1510 W 52nd St Unit 5 Los Angeles, CA	1.0	1.0	800	$1,925	$2.41	0d	1	0.80mi
1510 W 52nd St Unit 15125 Los Angeles, CA	1.0	1.0	800	$1,925	$2.41	13d	1	0.80mi
841 W 64th St Unit 8415 Los Angeles, CA	3.0	2.0	800	$2,725	$3.41	25d	1	0.81mi
855 W 43rd Pl Los Angeles, CA	2.0	1.0	1150	$2,349	$2.04	8d	1	0.81mi
855 1/2 W 43rd Pl Los Angeles, CA	2.0	1.0	1150	$2,399	$2.09	6d	1	0.81mi

Listing history 27 events

1. 2026-06-21
   days on marketlisting id $599,000 Active 136 DOM
2. 2026-06-18
   days on market $599,000 Active 133 DOM
3. 2026-06-17
   days on market $599,000 Active 132 DOM
4. 2026-06-16
   days on market $599,000 Active 131 DOM
5. 2026-06-15
   days on market $599,000 Active 130 DOM
6. 2026-06-13
   days on market $599,000 Active 128 DOM
7. 2026-06-09
   days on marketlisting id $599,000 Active 124 DOM
8. 2026-06-08
   days on market $599,000 Active 123 DOM
9. 2026-06-07
   days on market $599,000 Active 122 DOM
10. 2026-06-04
    days on market $599,000 Active 119 DOM
11. 2026-06-03
    days on market $599,000 Active 118 DOM
12. 2026-06-02
    days on market $599,000 Active 117 DOM
13. 2026-06-01
    days on market $599,000 Active 116 DOM
14. 2026-05-31
    days on market $599,000 Active 115 DOM
15. 2026-04-01
    price $599,000 310-char remark

    Show marketing remark (312 chars)

    Great Investment opportunity. 3 unit property located i the city of Los Angeles. Live in one and rent out the others. Front unit is currently vacant and in need of some TLC. Property sold "AS IS", Back 2 units are rent controlled with long term tenants. Centrally located, close to everything you need.

16. 2026-04-01
    price $599,000 312-char remark

    Show marketing remark (312 chars)

    Great Investment opportunity. 3 unit property located i the city of Los Angeles. Live in one and rent out the others. Front unit is currently vacant and in need of some TLC. Property sold "AS IS", Back 2 units are rent controlled with long term tenants. Centrally located, close to everything you need.

17. 2026-02-05
    listed $629,500 Active 310-char remark

    Show marketing remark (312 chars)

    Great Investment opportunity. 3 unit property located i the city of Los Angeles. Live in one and rent out the others. Front unit is currently vacant and in need of some TLC. Property sold "AS IS", Back 2 units are rent controlled with long term tenants. Centrally located, close to everything you need.

18. 2026-02-05
    listed $629,500 Active 312-char remark

    Show marketing remark (312 chars)

    Great Investment opportunity. 3 unit property located i the city of Los Angeles. Live in one and rent out the others. Front unit is currently vacant and in need of some TLC. Property sold "AS IS", Back 2 units are rent controlled with long term tenants. Centrally located, close to everything you need.

19. 2026-01-27
    historical
20. 2026-01-27
    historical
21. 2025-11-26
    listed $649,500 Active
22. 2025-11-01
    listed $649,500 Active
23. 2025-06-30
    historical
24. 2025-02-04
    price $725,000
25. 2024-09-09
    listed $789,000 Active
26. 2024-03-15
    historical
27. 2022-07-07
    listed $659,000 Active

ⓘ 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: $2,178 · $182/mo
• Projected year-2 tax: $4,552 · $379/mo
• Expected delta: +$2,374/yr (+$198/mo · 109.0%)

ⓘ 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 5/10 Major 7 d/yr ≥88°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $89,208
• − Mortgage interest: −$33,553
• − Property taxes: −$2,178
• − Insurance: −$2,995
• − Repairs & maintenance: −$7,137
• − Management: −$7,137
• − Depreciation: −$17,425
• Taxable income: $18,783
• Est. tax owed @ 24.0%: −$4,508
• After-tax cash flow: $23,099/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): 65,482
• Household income: $57,622
• Rent vs Own: 77.3% rent · 22.7% own
• Severe rent burden: 4200.0

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 (80%)
• Race & ethnicity: Hispanic / Latino 80% Two or more races 15% Black 15% Native American 3% White 2% Asian 1%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: British 1%
• Foreign-born: 44% · Canada, South Korea
• Languages at home: 23% English-only · Spanish 74% Korean 1% French/Haitian/Cajun 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: ▼ -639.09%
• Current HPI: 467.0371
• Rent YoY: ▲ 1.69%
• 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

-9.1% since first listed

13 events — show timeline

• 2026-04-01 Price Changed $599,000 CRMLS
• 2026-04-01 Price Changed $599,000 CRMLS
• 2026-02-05 Listed $629,500 CRMLS
• 2026-02-05 Listed $629,500 CRMLS
• 2026-01-27 Listing Removed — CRMLS
• 2026-01-27 Listing Removed — CRMLS
• 2025-11-26 Listed $649,500 CRMLS
• 2025-11-01 Listed $649,500 CRMLS
• 2025-06-30 Listing Removed — CRMLS
• 2025-02-04 Price Changed $725,000 CRMLS
• 2024-09-09 Listed $789,000 CRMLS
• 2024-03-15 Listing Removed — CRMLS
• 2022-07-07 Listed $659,000 CRMLS

Property tax history

+1.8%/yr

Latest (2025): $2,178 · +3.4% YoY. Source: county tax records.