1467 W Vernon · Los Angeles, CA 90062

$845,000

16 bd · 4.0 ba · 3,372 sqft · MultiFamily public records · 33 Days on market

Built 1914 7,371 sqft lot

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Why this score? — see what drove the C 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 +23.6/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Rent growth +5.0/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 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: 4 units. confirmed

Listing remarks MLS

We are pleased to present a 4-unit multi-family asset located in the Vermont Square neighborhood of South Los Angeles. A short 15-minute drive to Downtown Los Angeles and centrally located near 2 major freeways, the subject property gives tenants convenient access to the 10 and 110 Freeways. The property also sits about 1.2 miles south-west from the Los Angeles Memorial Coliseum, and just over 2 miles south from USC. Comprised of approximately 3,372 rentable square feet on a 7,369 square foot lot, the building features one 3-bedroom unit ( * 1-bedroom per title) that will be delivered non-occupied, and three oversized 1-bedroom additional units. The one non-occupied unit, which fully rehabbed could command a rent of $2,450 ( * buyer to verify), allows an investor to achieve market rent for that unit. This is a great opportunity to acquire a desirable multi-family asset with substantial upside and potential for an ADU development in an up-and-coming neighborhood of Los Angeles and could be a great addition to any investor's portfolio

Key facts

• In-place income
• Vacant unit ready
• Oversized lot

Tags

• AMPLE REAR PARKING
• OVERSIZED LOT
• ADUS TO THE REAR
• STRONG TENANT DEMAND DRIVERS
• IN-PLACE INCOME
• VACANT UNIT READY

Property features AI

Finance

• Other: Property has one building with four total units; Three units currently leased
• Financial info: Total building area reported as 3,372; Gross scheduled income: $75,000; Gross operating income: $75,000; Gross spendable income: $48,150; Total actual rent currently: $6,250; Individual unit rents shown: $1,000; $1,350; $1,400 (one unit rent not listed); Net operating income: $56,250; Operating expense: $18,750; Total expenses (water/sewer): $1,200; Operating expense percent: 25; Rent control applies
• HOA & community: Community features include curbs

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public sewer; District/public water; One separate water meter; Four separate gas meters; Four separate electric meters
• Home design: Attached multi-unit property; Two-story building; No accessory dwelling unit
• Construction: Year built from assessor (year not specified in data); 2+ common walls
• Exterior features: No pool; Curbs in the community

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Four 1-bedroom units (each unit listed as unfurnished)
• Flooring: No flooring details provided
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: No heating or cooling details provided
• Interior features: Two levels; Entry on main level
• Laundry & utility: No laundry on site

What this means for you Summary

Snapshot

• This is a 3×1bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $845k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $398/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $845k).
• Recommended offer: $820k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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-, 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 fast (+14.5%/yr); 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $9,344/mo this rent would consume 166% of the median local household income ($68k/yr) (locally 1890% 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 $6k of loan paydown is wiped out by about $25k 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 + 8.0% rent growth), your $237k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($820k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 30y ago; this cycle's ask has dropped $60k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $819,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% 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 1914 — 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. 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.
9. 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.
10. 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: 1.11% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.08%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $13,991
• Equity at exit: $125,992

10-year hold

• IRR: 15.5%
• Equity multiple: 2.56×
• Total profit: $367,986
• Equity at exit: $73,060

Cash invested: $236,600 (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 90062

• Rents YoY: 14.5%
• Active inventory: 86
• Price-to-rent: 31.9×

Monthly cashflow live

• Estimated rent: $9,344 high
• Mortgage (P&I): −$4,431
• Tax from tax record: −$1,006 /mo · $12,071/yr
• Insurance: −$352
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,962
• Net cashflow: $1,592

Break-even live

Break-even rent $7,328

Max offer price $845,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$6,615
1× unit	3	1	$2,728
Total (4 units)			$9,344

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: $211,250
• Closing costs: $25,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1150 W 38th St Los Angeles, CA	3.0–19.0	3.0–18.5	4527	$20,194	$4.46	1d	9	0.99mi

Listing history 37 events

1. 2026-06-18
   days on market $845,000 Active 33 DOM
2. 2026-06-17
   pricedays on market $845,000 Active 32 DOM
3. 2026-06-16
   days on market $895,000 Active 31 DOM
4. 2026-06-15
   days on market $895,000 Active 30 DOM
5. 2026-06-13
   days on market $895,000 Active 28 DOM
6. 2026-06-09
   days on market $895,000 Active 24 DOM
7. 2026-06-08
   days on market $895,000 Active 23 DOM
8. 2026-06-07
   pricedays on market $895,000 Active 22 DOM
9. 2026-06-04
   days on market $905,000 Active 19 DOM
10. 2026-06-03
    days on market $905,000 Active 18 DOM
11. 2026-06-02
    days on market $905,000 Active 17 DOM
12. 2026-06-01
    days on market $905,000 Active 16 DOM
13. 2026-05-31
    days on market $905,000 Active 15 DOM
14. 2026-05-16
    listed $905,000 Active
15. 2021-11-30
    soldstatus $905,000 Closed Sale 1048-char remark

    Show marketing remark (1048 chars)

    We are pleased to present a 4-unit multi-family asset located in the Vermont Square neighborhood of South Los Angeles. A short 15-minute drive to Downtown Los Angeles and centrally located near 2 major freeways, the subject property gives tenants convenient access to the 10 and 110 Freeways. The property also sits about 1.2 miles south-west from the Los Angeles Memorial Coliseum, and just over 2 miles south from USC. Comprised of approximately 3,372 rentable square feet on a 7,369 square foot lot, the building features one 3-bedroom unit ( * 1-bedroom per title) that will be delivered non-occupied, and three oversized 1-bedroom additional units. The one non-occupied unit, which fully rehabbed could command a rent of $2,450 ( * buyer to verify), allows an investor to achieve market rent for that unit. This is a great opportunity to acquire a desirable multi-family asset with substantial upside and potential for an ADU development in an up-and-coming neighborhood of Los Angeles and could be a great addition to any investor's portfolio

16. 2021-11-30
    soldstatus $905,000

    Show marketing remark (1048 chars)

    We are pleased to present a 4-unit multi-family asset located in the Vermont Square neighborhood of South Los Angeles. A short 15-minute drive to Downtown Los Angeles and centrally located near 2 major freeways, the subject property gives tenants convenient access to the 10 and 110 Freeways. The property also sits about 1.2 miles south-west from the Los Angeles Memorial Coliseum, and just over 2 miles south from USC. Comprised of approximately 3,372 rentable square feet on a 7,369 square foot lot, the building features one 3-bedroom unit ( * 1-bedroom per title) that will be delivered non-occupied, and three oversized 1-bedroom additional units. The one non-occupied unit, which fully rehabbed could command a rent of $2,450 ( * buyer to verify), allows an investor to achieve market rent for that unit. This is a great opportunity to acquire a desirable multi-family asset with substantial upside and potential for an ADU development in an up-and-coming neighborhood of Los Angeles and could be a great addition to any investor's portfolio

17. 2021-09-03
    status Pending Sale 1048-char remark

    Show marketing remark (1048 chars)

    We are pleased to present a 4-unit multi-family asset located in the Vermont Square neighborhood of South Los Angeles. A short 15-minute drive to Downtown Los Angeles and centrally located near 2 major freeways, the subject property gives tenants convenient access to the 10 and 110 Freeways. The property also sits about 1.2 miles south-west from the Los Angeles Memorial Coliseum, and just over 2 miles south from USC. Comprised of approximately 3,372 rentable square feet on a 7,369 square foot lot, the building features one 3-bedroom unit ( * 1-bedroom per title) that will be delivered non-occupied, and three oversized 1-bedroom additional units. The one non-occupied unit, which fully rehabbed could command a rent of $2,450 ( * buyer to verify), allows an investor to achieve market rent for that unit. This is a great opportunity to acquire a desirable multi-family asset with substantial upside and potential for an ADU development in an up-and-coming neighborhood of Los Angeles and could be a great addition to any investor's portfolio

18. 2021-08-20
    historical Active Under Contract 1048-char remark

    Show marketing remark (1048 chars)

    We are pleased to present a 4-unit multi-family asset located in the Vermont Square neighborhood of South Los Angeles. A short 15-minute drive to Downtown Los Angeles and centrally located near 2 major freeways, the subject property gives tenants convenient access to the 10 and 110 Freeways. The property also sits about 1.2 miles south-west from the Los Angeles Memorial Coliseum, and just over 2 miles south from USC. Comprised of approximately 3,372 rentable square feet on a 7,369 square foot lot, the building features one 3-bedroom unit ( * 1-bedroom per title) that will be delivered non-occupied, and three oversized 1-bedroom additional units. The one non-occupied unit, which fully rehabbed could command a rent of $2,450 ( * buyer to verify), allows an investor to achieve market rent for that unit. This is a great opportunity to acquire a desirable multi-family asset with substantial upside and potential for an ADU development in an up-and-coming neighborhood of Los Angeles and could be a great addition to any investor's portfolio

19. 2021-07-27
    price $947,500 1048-char remark

    Show marketing remark (1048 chars)

    We are pleased to present a 4-unit multi-family asset located in the Vermont Square neighborhood of South Los Angeles. A short 15-minute drive to Downtown Los Angeles and centrally located near 2 major freeways, the subject property gives tenants convenient access to the 10 and 110 Freeways. The property also sits about 1.2 miles south-west from the Los Angeles Memorial Coliseum, and just over 2 miles south from USC. Comprised of approximately 3,372 rentable square feet on a 7,369 square foot lot, the building features one 3-bedroom unit ( * 1-bedroom per title) that will be delivered non-occupied, and three oversized 1-bedroom additional units. The one non-occupied unit, which fully rehabbed could command a rent of $2,450 ( * buyer to verify), allows an investor to achieve market rent for that unit. This is a great opportunity to acquire a desirable multi-family asset with substantial upside and potential for an ADU development in an up-and-coming neighborhood of Los Angeles and could be a great addition to any investor's portfolio

20. 2021-05-28
    listed $985,000 Active 1048-char remark

    Show marketing remark (1048 chars)

    We are pleased to present a 4-unit multi-family asset located in the Vermont Square neighborhood of South Los Angeles. A short 15-minute drive to Downtown Los Angeles and centrally located near 2 major freeways, the subject property gives tenants convenient access to the 10 and 110 Freeways. The property also sits about 1.2 miles south-west from the Los Angeles Memorial Coliseum, and just over 2 miles south from USC. Comprised of approximately 3,372 rentable square feet on a 7,369 square foot lot, the building features one 3-bedroom unit ( * 1-bedroom per title) that will be delivered non-occupied, and three oversized 1-bedroom additional units. The one non-occupied unit, which fully rehabbed could command a rent of $2,450 ( * buyer to verify), allows an investor to achieve market rent for that unit. This is a great opportunity to acquire a desirable multi-family asset with substantial upside and potential for an ADU development in an up-and-coming neighborhood of Los Angeles and could be a great addition to any investor's portfolio

21. 2020-01-06
    status Active
22. 2019-12-14
    historical
23. 2019-09-30
    status Pending Sale
24. 2019-07-31
    historical Active Under Contract
25. 2019-05-14
    listed $820,000 Active
26. 2002-06-03
    soldstatus $255,000
27. 2001-07-23
    soldstatus $175,000
28. 2000-12-28
    listed $231,300
29. 1999-12-09
    historical
30. 1999-06-18
    listed
31. 1998-04-28
    soldstatus $244,000
32. 1998-03-31
    soldstatus $160,000
33. 1997-06-12
    soldstatus $161,000
34. 1997-06-01
    historical
35. 1996-12-09
    listed
36. 1996-12-01
    listed $165,000
37. 1993-01-08
    soldstatus $152,000

ⓘ 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: $12,071 · $1,006/mo
• Projected year-2 tax: $12,071 · $1,006/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 1/10 Low
• 🌡 Heat 6/10 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: $112,128
• − Mortgage interest: −$47,333
• − Property taxes: −$12,071
• − Insurance: −$4,225
• − Repairs & maintenance: −$8,970
• − Management: −$8,970
• − Depreciation: −$24,582
• Taxable income: $5,977
• Est. tax owed @ 24.0%: −$1,434
• After-tax cash flow: $17,675/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): 32,715
• Household income: $67,701
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1890.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 26% Two or more races 15% White 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: British 3%
• Foreign-born: 38% · Canada, South Korea, Guatemala
• Languages at home: 36% English-only · Spanish 61% 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: ▼ -670.48%
• Current HPI: 500.9289
• Rent YoY: ▲ 14.48%
• 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

+495.4% since first listed

24 events — show timeline

• 2026-05-16 Listed $905,000 CRMLS
• 2021-11-30 Sold (Public Records) $905,000 Public Records
• 2021-11-30 Sold (MLS) $905,000 CRMLS
• 2021-09-03 Pending — CRMLS
• 2021-08-20 Contingent — CRMLS
• 2021-07-27 Price Changed $947,500 CRMLS
• 2021-05-28 Listed $985,000 CRMLS
• 2020-01-06 Relisted — CRMLS
• 2019-12-14 Listing Removed — CRMLS
• 2019-09-30 Pending — CRMLS
• 2019-07-31 Contingent — CRMLS
• 2019-05-14 Listed $820,000 CRMLS
• 2002-06-03 Sold (Public Records) $255,000 Public Records
• 2001-07-23 Sold (MLS) $175,000 CRMLS
• 2000-12-28 Listed $231,300 CRMLS
• 1999-12-09 Delisted — TheMLS
• 1999-06-18 Listed — TheMLS
• 1998-04-28 Sold (Public Records) $244,000 Public Records
• 1998-03-31 Sold (Public Records) $160,000 Public Records
• 1997-06-12 Sold (MLS) $161,000 CRMLS
• 1997-06-01 Delisted — TheMLS
• 1996-12-09 Listed — TheMLS
• 1996-12-01 Listed $165,000 CRMLS
• 1993-01-08 Sold (Public Records) $152,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $12,071 · +1.4% YoY. Source: county tax records.