1646 N Harvard · Los Angeles, CA 90027

$2,400,000

10 bd · 10.0 ba · 6,766 sqft · MultiFamily public records · 8 Days on market

Built 1949 8,490 sqft lot Est $1908k · 26% over

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Why this score? — see what drove the F 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 +11.0/30.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• DSCR +3.2/10.0
• Rent growth +3.1/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 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

This property is a prime investment opportunity located at the gateway to Hollywood and Downtown LA, nestled at the base of Griffith Observatory in the vibrant East Hollywood/Los Feliz Area. The asset consists of 10 units, all of which are 1 bedroom and 1 bathroom. Built in 1949, the property is approximately 6,766 square feet and has no story-story construction. Additionally, the property includes a detached ±6-car carport with an attached laundry facility. The location of this property is excellent, as it is only three city blocks or a six-minute walk from the Metro B Line (Red) at the Hollywood/Western Station stop. The area is known for being one of Los Angeles's strongest rental markets, and the location scores a 92 via Walker's Paradise. There are also many retail destinations, eateries, and entertainment options in the immediate vicinity. The property offers significant potential for upside and value-add. The property is well-maintained and professionally managed. Additionally, seller financing is available. Buyer to verify all info.

Key facts

• 8 490 sf lot
• Walkable access
• Oversized lot

Tags

• 10 UNIT APARTMENT COMMUNITY
• 8 490 SF LOT
• WALKABLE ACCESS
• RENOWNED RESTAURANTS
• MAJOR EMPLOYMENT CENTERS
• OVERSIZED LOT

Property features AI

Finance

• Other: Tenant pays gas and electricity
• Financial info: Total building area 6,766; Total of 10 units with 9 currently leased; Gross scheduled income $211,847; Gross operating income $205,492; Total actual rent $211,847; Net operating income $132,406; Operating expenses $73,086 (includes insurance, water/sewer, maintenance, gardener, pest control, taxes); Vacancy allowance 6,355; Gross multiplier 11.33
• HOA & community: Community features include sidewalks; Rent control applies

Exterior

• Parking: Assigned parking; Six parking/carport spaces
• Utilities: Public sewer; District/public water; Separate gas meters for 10 units; Separate electric meters for 10 units; One separate water meter
• Home design: Community apartment (attached property); Two-story building; Entry on front
• Construction: One building; Built year sourced from assessor
• Exterior features: No pool; Paved lot; Rectangular lot shape; 6–10 units per acre

Interior

• Bedrooms: Ten 1-bedroom units
• Bathrooms: Each unit has one full bathroom
• Interior features: Front entry; Two-level layout
• Laundry & utility: Laundry area on site

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/1.0-bath units multifamily listed at $2.40M.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative. Per door: $-102/mo.
• To cash-flow at today's rent, offer at most $2.22M (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.90M (20.9% below list).
• Recommended offer: $1.90M (20.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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 (+2.3%/yr); 120 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 $18,993/mo this rent would consume 241% of the median local household income ($95k/yr) (locally 4571% 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 $17k of loan paydown is wiped out by about $72k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 9y 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 1949 — 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 $1,899,300 (20.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.79% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.82%
• DSCR: 0.92
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $1,908,012
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5418 Franklin Ave	0.33mi	10/8.0	6,556 (-3%)	7mo	$1,850,000	$282	66
4730 Franklin Ave	0.69mi	11/10.0 (+1)	7,130 (+5%)	2mo	$2,100,000	$295	52
1812 N Wilton Pl	0.56mi	11/11.0 (+1)	6,318 (-7%)	16mo	$1,578,000	$250	41
1167 N Kingsley Dr	0.61mi	10/6.0	6,176 (-9%)	11mo	$1,410,000	$228	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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.31×
• Total profit: $-466,870
• Equity at exit: $357,848

10-year hold

• IRR: -14.5%
• Equity multiple: 0.19×
• Total profit: $-542,723
• Equity at exit: $207,508

Cash invested: $672,000 (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 90027

• Rents YoY: 2.3%
• Active inventory: 120
• Price-to-rent: 105.3×

Monthly cashflow live

• Estimated rent: $18,993 high
• Mortgage (P&I): −$12,586
• Tax from tax record: −$2,439 /mo · $29,270/yr
• Insurance: −$1,000
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,989
• Net cashflow: $-1,021

Break-even live

Break-even rent $20,285

Max offer price $2,219,711

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$18,990
Total (10 units)			$18,993

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: $600,000
• Closing costs: $72,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $2,400,000 Active 8 DOM
2. 2026-06-17
   days on market $2,400,000 Active 7 DOM
3. 2026-06-16
   days on market $2,400,000 Active 6 DOM
4. 2026-06-15
   days on market $2,400,000 Active 5 DOM
5. 2026-06-13
   remarks 687-char remark
6. 2026-06-13
   listed $2,400,000 Active 3 DOM

ⓘ 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: $29,270 · $2,439/mo
• Projected year-2 tax: $29,270 · $2,439/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥92°F today · 22 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: $227,916
• − Mortgage interest: −$134,437
• − Property taxes: −$29,270
• − Insurance: −$12,000
• − Repairs & maintenance: −$18,233
• − Management: −$18,233
• − Depreciation: −$69,818
• Taxable loss: −$54,076
• Est. tax savings @ 24.0%: +$12,978
• After-tax cash flow: $731/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): 46,558
• Household income: $94,521
• Rent vs Own: 80.0% rent · 20.0% own
• Severe rent burden: 4571.0

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 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 23% Asian 12% Two or more races 10% Black 4%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 3% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 28% · Canada, South Korea, China
• Languages at home: 60% English-only · Spanish 17% Other Indo-European 11% Russian/Polish/Slavic 3%

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: ▼ -427.46%
• Current HPI: 494.8966
• Rent YoY: ▲ 2.32%
• 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

+3233.3% since first listed

27 events — show timeline

• 2026-06-10 Listed $2,400,000 CRMLS
• 2024-04-18 Rental Removed $2,175 APPFOLIO
• 2024-04-10 Listed for Rent $2,175 APPFOLIO
• 2024-04-10 Rental Removed $2,175 APPFOLIO
• 2024-03-13 Listed for Rent $2,175 APPFOLIO
• 2023-10-13 Sold (Public Records) $2,300,000 Public Records
• 2023-10-13 Sold (MLS) $2,300,000 CRMLS
• 2023-07-19 Relisted — CRMLS
• 2023-07-19 Price Changed $2,600,000 CRMLS
• 2023-07-05 Contingent — CRMLS
• 2023-03-10 Listed $2,850,000 CRMLS
• 2022-08-18 Listing Removed — CRMLS
• 2022-07-22 Price Changed $2,899,000 CRMLS
• 2022-05-31 Listed $2,925,000 CRMLS
• 2022-04-01 Listing Removed — CRMLS
• 2022-01-11 Price Changed $2,950,000 CRMLS
• 2021-11-01 Listed $3,100,000 CRMLS
• 2017-09-19 Sold (MLS) $2,562,500 SDMLS
• 2017-09-19 Sold (MLS) $2,562,500 TheMLS
• 2017-08-14 Pending — TheMLS
• 2017-07-24 Price Changed $2,625,000 TheMLS
• 2017-06-20 Price Changed $2,699,000 TheMLS
• 2017-06-06 Price Changed $2,750,000 TheMLS
• 2017-04-26 Listed $2,800,000 TheMLS
• 2017-04-26 Listed $2,625,000 SDMLS
• 1995-04-24 Sold (Public Records) $295,000 Public Records
• 1980-09-15 Sold (Public Records) $72,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $29,270 · +1.2% YoY. Source: county tax records.