5516 Virginia Ave · Los Angeles, CA 90038

$3,350,000

11 bd · 8.0 ba · 5,970 sqft · MultiFamily public records · 86 Days on market

Built 1958 0.34 ac lot $561/sqft · 90% above area Est $3407k · at est.

---

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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +8.3/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• 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: 16 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

5516 & 5522 Virgina Ave, a charming 16-unit apartment situated on two separate parcels, building located in Hollywood, a highly desired neighborhood in Los Angeles, CA. Built in 1953 and 1958, the property consists of two buildings featuring (11) one-bedroom + one-bathroom units and (5) two-bedroom + one-bathroom units. The building is 11,550 gross square feet and sits on a 15,000 square foot lot. Located in the heart of Hollywood, 55165522 Virginia Ave offers residents a dynamic, centrally located lifestyle within one of Los Angeles' most creative and culturally rich neighborhoods. Just moments from Santa Monica Boulevard, Hollywood Boulevard, and Melrose Avenue, the property places tenants close to major employment hubs, entertainment studios, and an ever-growing mix of dining, retail, and nightlife options. Residents can easily enjoy nearby cafes, local restaurants, and neighborhood conveniences, along with quick access to Hollywood landmarks, music venues, and cultural destinations. The property benefits from a walkable location, convenient public transit access, and strong connectivity toHollywood, Mid-Wilshire, Los Feliz, and Downtown Los Angeles.

Key facts

• Two separate parcels
• 16 unit apartment
• Two buildings

Tags

• 16 UNIT APARTMENT
• TWO SEPARATE PARCELS
• HIGHLY DESIRED NEIGHBORHOOD
• TWO BUILDINGS
• CLOSE TO MAJOR EMPLOYMENT HUBS
• ENTERTAINMENT STUDIOS

What this means for you Summary

Snapshot

• This is a 16 × 21-bed/16.0-bath units multifamily listed at $3.35M.

Deal economics

• At list price, monthly cash flow is $15k ($176k/yr) — positive. Per door: $916/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($48k rent vs $3.35M).
• Recommended offer: $3.15M (6.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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 flat; 87 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $47,865/mo this rent would consume 935% of the median local household income ($61k/yr) (locally 4038% 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 $23k of loan paydown is wiped out by about $100k 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 + 0.7% rent growth), your $938k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($3.15M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — 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 $3,149,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 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 1958 — 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: 1.43% ✓
• Cap rate: 11.55%
• Cash-on-cash: 18.76%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

• ARV (median comp): $3,406,848
• List price: $3,350,000
• Delta: -1.67%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1167 N Kingsley Dr	0.41mi	10/6.0 (-1)	6,176 (+4%)	11mo	$1,410,000	$228	53
5727 Virginia Ave	0.27mi	10/12.0 (-1)	6,544 (+10%)	11mo	$1,650,000	$252	43
5115 Clinton St #1	0.71mi	10/11.0 (-1)	5,393 (-10%)	5mo	$2,420,000	$449	30

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.30×
• Total profit: $282,058
• Equity at exit: $499,496

10-year hold

• IRR: 15.1%
• Equity multiple: 2.09×
• Total profit: $1,021,550
• Equity at exit: $289,647

Cash invested: $938,000 (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 90038

• Rents YoY: 0.7%
• Active inventory: 87
• Price-to-rent: 93.3×

Monthly cashflow live

• Estimated rent: $47,865 medium
• Mortgage (P&I): −$17,568
• Tax est. 1.5%: −$4,188 /mo · $50,250/yr
• Insurance: −$1,396
• HOA: −$0
• Vacancy / Maint / Mgmt: −$10,052
• Net cashflow: $14,662

Break-even live

Break-even rent $29,305

Max offer price $3,350,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 16× units	21	16	$47,872
Total (16 units)			$47,865

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: $837,500
• Closing costs: $100,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $3,350,000 Active 86 DOM
2. 2026-06-17
   days on market $3,350,000 Active 85 DOM
3. 2026-06-16
   days on market $3,350,000 Active 84 DOM
4. 2026-06-15
   days on market $3,350,000 Active 83 DOM
5. 2026-06-13
   days on market $3,350,000 Active 81 DOM
6. 2026-06-09
   days on market $3,350,000 Active 77 DOM
7. 2026-06-08
   days on market $3,350,000 Active 76 DOM
8. 2026-06-07
   days on market $3,350,000 Active 75 DOM
9. 2026-06-04
   days on market $3,350,000 Active 72 DOM
10. 2026-06-03
    days on market $3,350,000 Active 71 DOM
11. 2026-06-02
    days on market $3,350,000 Active 70 DOM
12. 2026-06-01
    days on market $3,350,000 Active 69 DOM
13. 2026-05-31
    days on market $3,350,000 Active 68 DOM
14. 2026-03-24
    listed $3,350,000 Active 1177-char remark

    Show marketing remark (1177 chars)

    5516 & 5522 Virgina Ave, a charming 16-unit apartment situated on two separate parcels, building located in Hollywood, a highly desired neighborhood in Los Angeles, CA. Built in 1953 and 1958, the property consists of two buildings featuring (11) one-bedroom + one-bathroom units and (5) two-bedroom + one-bathroom units. The building is 11,550 gross square feet and sits on a 15,000 square foot lot. Located in the heart of Hollywood, 55165522 Virginia Ave offers residents a dynamic, centrally located lifestyle within one of Los Angeles' most creative and culturally rich neighborhoods. Just moments from Santa Monica Boulevard, Hollywood Boulevard, and Melrose Avenue, the property places tenants close to major employment hubs, entertainment studios, and an ever-growing mix of dining, retail, and nightlife options. Residents can easily enjoy nearby cafes, local restaurants, and neighborhood conveniences, along with quick access to Hollywood landmarks, music venues, and cultural destinations. The property benefits from a walkable location, convenient public transit access, and strong connectivity toHollywood, Mid-Wilshire, Los Feliz, and Downtown Los Angeles.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥90°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: $574,380
• − Mortgage interest: −$187,652
• − Property taxes: −$50,250
• − Insurance: −$16,750
• − Repairs & maintenance: −$45,950
• − Management: −$45,950
• − Depreciation: −$97,455
• Taxable income: $130,373
• Est. tax owed @ 24.0%: −$31,289
• After-tax cash flow: $144,658/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): 27,127
• Household income: $61,454
• Rent vs Own: 91.8% rent · 8.2% own
• Severe rent burden: 4038.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 49% White 31% Two or more races 15% Asian 7% Black 7% Native American 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Romanian 2% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 39% · Canada, South Korea, Jamaica
• Languages at home: 44% English-only · Spanish 43% Other Indo-European 4% Tagalog/Filipino 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: ▼ -461.01%
• Current HPI: 349.1001
• Rent YoY: ▲ 0.67%
• 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

1 event — show timeline

• 2026-03-24 Listed $3,350,000 TheMLS

Property tax history

+1.9%/yr

Latest (2025): $3,898 · +2.8% YoY. Source: county tax records.