4186 Leimert Blvd · Los Angeles, CA 90008

$1,200,000

8 bd · 4.0 ba · 3,032 sqft · MultiFamily public records · 19 Days on market

Built 1944 5,808 sqft lot Est $1155k · at est.

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Why this score? — see what drove the D 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 +15.8/30.0
• ARV discount +5.8/15.0
• DSCR +4.9/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 1% rule +3.0/10.0
• Rent growth +2.6/5.0
• 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

Well-maintained 4-Unit building located in the most desirable pocket of historic Leimert Park. This property presents an exceptional investment opportunity in one of Los Angeles' most culturally rich and rapidly growing neighborhoods. Situated on a generous lot of 5,808 zoned LAR3. The property consists of four (4) Two-bedroom / One-bathroom units, TOC Tier 3, lemon tree, and detached garages for future ADU projects. The property is under rent control. One (1) unit will be vacant at COE. The property features a desirable unit mix with spacious layouts, abundant natural light, and strong rental income potential. This property offers ample parking and outdoor space while being conveniently l

Key facts

• Zoned lar3
• Generous lot
• Lemon tree

Tags

• 4 UNIT BUILDING
• HISTORIC LEIMERT PARK
• INVESTMENT OPPORTUNITY
• GENEROUS LOT
• ZONED LAR3
• LEMON TREE

Property features AI

Finance

• Other: Disclosure: Trust/Conservatorship
• Financial info: Gross income reported as 99,000; Net operating income reported as $62,527; Gross rent multiplier 12.12; Vacancy rate listed as 75%; Units include four income units with current rents: $1,800; $2,500; $1,200; $2,750; Projected rents shown up to $2,750
• HOA & community: Property is a single building with 1 total unit in the complex

Exterior

• Parking: Detached garage accommodating 4+ vehicles; Total of 4 parking spaces
• Home design: Two-level building; Residential income property
• Exterior features: No additional structures on the lot; Zoned LAR3

Interior

• Bedrooms: Four 2-bedroom units (each unit has 2 bedrooms)
• Bathrooms: Four 1-bath units (each unit has 1 bathroom)
• Heating & cooling: Wall heat; Ceiling fan
• Interior features: Ceiling fan(s); Wall heating

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive. Per door: $136/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 $958k (20.1% below list).
• Recommended offer: $958k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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-, 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: Forty-Second Street Elementary (195 students, 95% FRL); Audubon Middle (407 students, 96% FRL); Valley Academy of Arts And Sciences (math 22% / reading 52%, grade F, #578 of 1,170 statewide, top 51%, 868 students, 64% FRL) — zoned schools average 85% FRL vs 67% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 103 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $9,583/mo this rent would consume 186% of the median local household income ($62k/yr) (locally 4196% 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 $8k of loan paydown is wiped out by about $36k 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 19 days — a 2% lower offer ($1.18M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $82k; list at $1.20M implies a 1363% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $958,300 (20.1% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.80% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.94%
• DSCR: 1.09
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $1,155,192
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4076 9th Ave	0.13mi	8/4.0	3,146 (+4%)	15mo	$1,200,000	$381	75
4110 9th Ave	0.11mi	8/5.0	3,350 (+10%)	6mo	$1,550,000	$463	69
4246 3rd Ave	0.35mi	7/4.0 (-1)	3,447 (+14%)	8mo	$815,000	$236	49

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 · 0.24% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.45×
• Total profit: $-186,386
• Equity at exit: $178,924

10-year hold

• IRR: -12.5%
• Equity multiple: 0.34×
• Total profit: $-220,886
• Equity at exit: $103,754

Cash invested: $336,000 (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 90008

• Rents YoY: 0.2%
• Active inventory: 103
• Price-to-rent: 41.7×

Monthly cashflow live

• Estimated rent: $9,583 high
• Mortgage (P&I): −$6,293
• Tax from tax record: −$234 /mo · $2,813/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,012
• Net cashflow: $543

Break-even live

Break-even rent $8,895

Max offer price $1,200,000

Occupancy floor 89%

Sensitivity live

Price	-10% $1,223	-5% $883	+0% $543	+5% $204	+10% $-136
Rent	-10% $-214	-5% $165	+0% $543	+5% $922	+10% $1,300
Rate	-1.0pp $1,148	-0.5pp $848	base $543	+0.5pp $232	+1.0pp $-84

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$9,584
Total (4 units)			$9,583

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $1,200,000 Active 19 DOM
2. 2026-06-18
   days on market $1,200,000 Active 16 DOM
3. 2026-06-17
   days on market $1,200,000 Active 15 DOM
4. 2026-06-16
   days on market $1,200,000 Active 14 DOM
5. 2026-06-15
   days on market $1,200,000 Active 13 DOM
6. 2026-06-13
   days on market $1,200,000 Active 11 DOM
7. 2026-06-09
   days on market $1,200,000 Active 7 DOM
8. 2026-06-08
   days on market $1,200,000 Active 6 DOM
9. 2026-06-07
   days on market $1,200,000 Active 5 DOM
10. 2026-06-04
    days on market $1,200,000 Active 2 DOM
11. 2026-06-02
    remarks 699-char remark
12. 2026-06-02
    listed $1,200,000 Active 1 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: $2,813 · $234/mo
• Projected year-2 tax: $9,120 · $760/mo
• Expected delta: +$6,307/yr (+$526/mo · 224.2%)

ⓘ 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 ≥87°F today · 19 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: $114,996
• − Mortgage interest: −$67,219
• − Property taxes: −$2,813
• − Insurance: −$6,000
• − Repairs & maintenance: −$9,200
• − Management: −$9,200
• − Depreciation: −$34,909
• Taxable loss: −$14,344
• Est. tax savings @ 24.0%: +$3,443
• After-tax cash flow: $9,961/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): 33,252
• Household income: $61,846
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 4196.0

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 0.56)
• Race & ethnicity: Black 61% Hispanic / Latino 27% Two or more races 10% White 6% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 1% British 1%
• Foreign-born: 21% · Canada, South Korea
• Languages at home: 67% English-only · Spanish 25% French/Haitian/Cajun 2% Korean 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: ▼ -944.46%
• Current HPI: 431.4967
• Rent YoY: ▲ 0.24%
• 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

+1363.4% since first listed

2 events — show timeline

• 2026-06-02 Listed $1,200,000 TheMLS
• 1978-11-16 Sold (Public Records) $82,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $2,813 · +1.9% YoY. Source: county tax records.