5447 Blackwelder St · Los Angeles, CA 90016

$935,000

6 bd · 4.0 ba · 3,721 sqft · MultiFamily public records · 127 Days on market

Built 1963 4,800 sqft lot $251/sqft · 25% below area Est $1250k · 25% under

---

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 +18.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +4.6/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• 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: 2 units. confirmed

Listing remarks MLS

4Plex West Adams for $935,000! Welcome to 5447 Blackwelder St! The property is located in an excellent West Adams Location with 4 Units. The property provides an excellent Unit Mix offering 1 & 2 Bedroom Layouts. Spacious Units are spacious Averaging Approx. 930 SF Each! Approximately Over 58% Rental Upside! Selected Units Offer En Suite Washer/Dryers. Well Parked! 7 Spaces for 4 Units. Tenants pay for trash. Units are separately Metered for Gas/Electric. The property also offers Brand New Electrical Main Panel!

Key facts

• West adams location
• 4,800 sq ft lot
• 7 parking spots

Tags

• WEST ADAMS LOCATION
• EN SUITE WASHER DRYERS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $935k.

Deal economics

• At list price, monthly cash flow is $885 ($11k/yr) — positive. Per door: $442/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 $896k (4.2% below list).
• Recommended offer: $823k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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: Marvin Elementary (550 students, 90% FRL); Daniel Webster Middle (442 students, 90% FRL); Valley Academy of Arts And Sciences (math 22% / reading 52%, grade F, #578 of 1,170 statewide, top 51%, 868 students, 64% FRL).
• Market conditions: Rents rising (+1.1%/yr); 150 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $8,961/mo this rent would consume 146% of the median local household income ($74k/yr) (locally 3450% 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 $28k 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 127 days — a 12% lower offer ($823k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 18y ago; this cycle's ask has dropped $140k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $750k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $822,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 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 1963 — 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: 0.96% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.06%
• DSCR: 1.18
• GRM: 8.7

CMA / ARV

• ARV (median comp): $1,250,168
• List price: $935,000
• Delta: -25.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5232 Westhaven St	0.34mi	6/6.0	3,984 (+7%)	7mo	$800,000	$201	59

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 · 1.12% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.57×
• Total profit: $-111,831
• Equity at exit: $139,412

10-year hold

• IRR: -5.8%
• Equity multiple: 0.65×
• Total profit: $-90,690
• Equity at exit: $80,842

Cash invested: $261,800 (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 90016

• Rents YoY: 1.1%
• Active inventory: 150
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $8,961 high
• Mortgage (P&I): −$4,903
• Tax from tax record: −$902 /mo · $10,820/yr
• Insurance: −$390
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,882
• Net cashflow: $885

Break-even live

Break-even rent $7,841

Max offer price $935,000

Occupancy floor 85%

Sensitivity live

Price	-10% $1,414	-5% $1,149	+0% $885	+5% $620	+10% $355
Rent	-10% $177	-5% $531	+0% $885	+5% $1,239	+10% $1,593
Rate	-1.0pp $1,356	-0.5pp $1,123	base $885	+0.5pp $642	+1.0pp $396

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$8,960
Total (2 units)			$8,961

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: $233,750
• Closing costs: $28,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1948 S Point View St Los Angeles, CA	5.0	4.5	3100	$16,995	$5.48	45d	1	0.99mi
2125 S West View St Los Angeles, CA	6.0	5.0	2546	$5,500	$2.16	45d	1	1.12mi
1631 S Point View St Los Angeles, CA	5.0	3.5	3162	$9,750	$3.08	4d	1	1.36mi
1907 S Corning St Unit 1 Los Angeles, CA	5.0	5.0	2594	$6,495	$2.50	12d	1	1.37mi
1920 S Sherbourne Dr Unit 1922 Los Angeles, CA	5.0	4.0	2518	$5,995	$2.38	45d	1	1.45mi

Listing history 36 events

1. 2026-06-21
   days on market $935,000 Active 127 DOM
2. 2026-06-18
   days on market $935,000 Active 124 DOM
3. 2026-06-17
   days on market $935,000 Active 123 DOM
4. 2026-06-16
   days on market $935,000 Active 122 DOM
5. 2026-06-15
   days on market $935,000 Active 121 DOM
6. 2026-06-13
   days on market $935,000 Active 119 DOM
7. 2026-06-09
   days on market $935,000 Active 115 DOM
8. 2026-06-08
   days on market $935,000 Active 114 DOM
9. 2026-06-07
   days on market $935,000 Active 113 DOM
10. 2026-06-04
    days on market $935,000 Active 110 DOM
11. 2026-06-03
    days on market $935,000 Active 109 DOM
12. 2026-06-02
    days on market $935,000 Active 108 DOM
13. 2026-06-01
    days on market $935,000 Active 107 DOM
14. 2026-05-31
    days on market $935,000 Active 106 DOM
15. 2026-05-12
    status Active 523-char remark

    Show marketing remark (523 chars)

    4Plex West Adams for $935,000! Welcome to 5447 Blackwelder St! The property is located in an excellent West Adams Location with 4 Units. The property provides an excellent Unit Mix offering 1 & 2 Bedroom Layouts. Spacious Units are spacious Averaging Approx. 930 SF Each! Approximately Over 58% Rental Upside! Selected Units Offer En Suite Washer/Dryers. Well Parked! 7 Spaces for 4 Units. Tenants pay for trash. Units are separately Metered for Gas/Electric. The property also offers Brand New Electrical Main Panel!

16. 2026-03-02
    price $995,000 523-char remark

    Show marketing remark (523 chars)

    4Plex West Adams for $935,000! Welcome to 5447 Blackwelder St! The property is located in an excellent West Adams Location with 4 Units. The property provides an excellent Unit Mix offering 1 & 2 Bedroom Layouts. Spacious Units are spacious Averaging Approx. 930 SF Each! Approximately Over 58% Rental Upside! Selected Units Offer En Suite Washer/Dryers. Well Parked! 7 Spaces for 4 Units. Tenants pay for trash. Units are separately Metered for Gas/Electric. The property also offers Brand New Electrical Main Panel!

17. 2026-02-10
    listed $1,075,000 Active 523-char remark

    Show marketing remark (523 chars)

    4Plex West Adams for $935,000! Welcome to 5447 Blackwelder St! The property is located in an excellent West Adams Location with 4 Units. The property provides an excellent Unit Mix offering 1 & 2 Bedroom Layouts. Spacious Units are spacious Averaging Approx. 930 SF Each! Approximately Over 58% Rental Upside! Selected Units Offer En Suite Washer/Dryers. Well Parked! 7 Spaces for 4 Units. Tenants pay for trash. Units are separately Metered for Gas/Electric. The property also offers Brand New Electrical Main Panel!

18. 2025-04-24
    historical $1,870
19. 2025-04-19
    listed $1,870
20. 2025-04-19
    historical $1,900
21. 2025-04-12
    listed $1,900
22. 2022-05-12
    price $1,850
23. 2017-12-28
    soldstatus $750,000 Closed 602-char remark

    Show marketing remark (602 chars)

    Great opportunity to purchase a large triplex in highly sought-after West Adams neighborhood of City of Los Angeles where there are many art galleries, studios, boutiques and a busy commercial corridor. This triplex has two spacious 2-bedroom units and one 2-bedroom plus den unit that will be delivered vacant at closing. Owner/user or investment opportunity in a neighborhood closely watched by investors! Property is located very close to Metro Expo Line on Jefferson. This is a COURT-ORDERED SALE. SUBJECT TO COURT CONFIRMATION AND POTENTIAL OVERBID. AGENTS: PLEASE SEE AGENT REMARKS FOR MORE INFO.

24. 2017-12-28
    soldstatus $750,000

    Show marketing remark (602 chars)

    Great opportunity to purchase a large triplex in highly sought-after West Adams neighborhood of City of Los Angeles where there are many art galleries, studios, boutiques and a busy commercial corridor. This triplex has two spacious 2-bedroom units and one 2-bedroom plus den unit that will be delivered vacant at closing. Owner/user or investment opportunity in a neighborhood closely watched by investors! Property is located very close to Metro Expo Line on Jefferson. This is a COURT-ORDERED SALE. SUBJECT TO COURT CONFIRMATION AND POTENTIAL OVERBID. AGENTS: PLEASE SEE AGENT REMARKS FOR MORE INFO.

25. 2017-12-28
    soldstatus $750,000

    Show marketing remark (602 chars)

    Great opportunity to purchase a large triplex in highly sought-after West Adams neighborhood of City of Los Angeles where there are many art galleries, studios, boutiques and a busy commercial corridor. This triplex has two spacious 2-bedroom units and one 2-bedroom plus den unit that will be delivered vacant at closing. Owner/user or investment opportunity in a neighborhood closely watched by investors! Property is located very close to Metro Expo Line on Jefferson. This is a COURT-ORDERED SALE. SUBJECT TO COURT CONFIRMATION AND POTENTIAL OVERBID. AGENTS: PLEASE SEE AGENT REMARKS FOR MORE INFO.

26. 2017-11-01
    status Backup Offers Accepted 602-char remark

    Show marketing remark (602 chars)

    Great opportunity to purchase a large triplex in highly sought-after West Adams neighborhood of City of Los Angeles where there are many art galleries, studios, boutiques and a busy commercial corridor. This triplex has two spacious 2-bedroom units and one 2-bedroom plus den unit that will be delivered vacant at closing. Owner/user or investment opportunity in a neighborhood closely watched by investors! Property is located very close to Metro Expo Line on Jefferson. This is a COURT-ORDERED SALE. SUBJECT TO COURT CONFIRMATION AND POTENTIAL OVERBID. AGENTS: PLEASE SEE AGENT REMARKS FOR MORE INFO.

27. 2017-09-18
    listed $825,000 Active 602-char remark

    Show marketing remark (602 chars)

    Great opportunity to purchase a large triplex in highly sought-after West Adams neighborhood of City of Los Angeles where there are many art galleries, studios, boutiques and a busy commercial corridor. This triplex has two spacious 2-bedroom units and one 2-bedroom plus den unit that will be delivered vacant at closing. Owner/user or investment opportunity in a neighborhood closely watched by investors! Property is located very close to Metro Expo Line on Jefferson. This is a COURT-ORDERED SALE. SUBJECT TO COURT CONFIRMATION AND POTENTIAL OVERBID. AGENTS: PLEASE SEE AGENT REMARKS FOR MORE INFO.

28. 2017-09-18
    listed $825,000

    Show marketing remark (602 chars)

    Great opportunity to purchase a large triplex in highly sought-after West Adams neighborhood of City of Los Angeles where there are many art galleries, studios, boutiques and a busy commercial corridor. This triplex has two spacious 2-bedroom units and one 2-bedroom plus den unit that will be delivered vacant at closing. Owner/user or investment opportunity in a neighborhood closely watched by investors! Property is located very close to Metro Expo Line on Jefferson. This is a COURT-ORDERED SALE. SUBJECT TO COURT CONFIRMATION AND POTENTIAL OVERBID. AGENTS: PLEASE SEE AGENT REMARKS FOR MORE INFO.

29. 2009-08-07
    historical
30. 2009-07-26
    listed Active
31. 2009-06-05
    historical
32. 2009-03-10
    listed
33. 2009-02-19
    historical
34. 2008-12-02
    listed
35. 2008-11-18
    historical
36. 2008-05-15
    listed

ⓘ 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: $10,820 · $902/mo
• Projected year-2 tax: $10,820 · $902/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 5/10 Major FEMA zone X (unshaded) · 63% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥88°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $107,532
• − Mortgage interest: −$52,375
• − Property taxes: −$10,820
• − Insurance: −$4,675
• − Repairs & maintenance: −$8,603
• − Management: −$8,603
• − Depreciation: −$27,200
• Taxable loss: −$4,743
• Est. tax savings @ 24.0%: +$1,138
• After-tax cash flow: $11,755/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): 46,457
• Household income: $73,516
• Rent vs Own: 65.1% rent · 34.9% own
• Severe rent burden: 3450.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 52% Black 27% Two or more races 18% White 12% Asian 4%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: British 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 30% · Canada, South Korea, China
• Languages at home: 47% English-only · Spanish 47% French/Haitian/Cajun 1% Chinese 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: ▼ -991.94%
• Current HPI: 584.0673
• Rent YoY: ▲ 1.12%
• 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

+20.6% since first listed

22 events — show timeline

• 2026-05-12 Relisted — TheMLS
• 2026-03-02 Price Changed $995,000 TheMLS
• 2026-02-10 Listed $1,075,000 TheMLS
• 2025-04-24 Rental Removed $1,870 RENTALBEAST
• 2025-04-19 Listed for Rent $1,870 RENTALBEAST
• 2025-04-19 Rental Removed $1,900 RENTALBEAST
• 2025-04-12 Listed for Rent $1,900 RENTALBEAST
• 2022-05-12 Price Changed $1,850 RENT.
• 2017-12-28 Sold (Public Records) $750,000 Public Records
• 2017-12-28 Sold (MLS) $750,000 SDMLS
• 2017-12-28 Sold (MLS) $750,000 TheMLS
• 2017-11-01 Pending — TheMLS
• 2017-09-18 Listed $825,000 TheMLS
• 2017-09-18 Listed $825,000 SDMLS
• 2009-08-07 Delisted — TheMLS
• 2009-07-26 Listed — TheMLS
• 2009-06-05 Delisted — TheMLS
• 2009-03-10 Listed — TheMLS
• 2009-02-19 Delisted — TheMLS
• 2008-12-02 Listed — TheMLS
• 2008-11-18 Delisted — TheMLS
• 2008-05-15 Listed — TheMLS

Property tax history

+13.4%/yr

Latest (2025): $10,820 · -6.4% YoY. Source: county tax records.