3925 Barrett · Los Angeles, CA 90032

$2,090,000

9 bd · 6.0 ba · 3,408 sqft · MultiFamily public records · 35 Days on market

Built 1963 7,647 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• 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 (5+ Unit). Listing-text estimate: 18 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

Exceptional investment opportunity featuring 6 spacious multi-family units across two separate well-maintained buildings situated on a 6,816 SF lot. Each unit offers an expansive 3-bedroom, 2-bathroom floor plan with over 1,100 square feet of living space, providing strong tenant appeal and excellent rental potential. The property has been pridefully maintained and offers a desirable unit mix ideal for long-term tenants and consistent cash flow. Spacious interiors feature functional layouts, generous bedroom sizes, abundant natural light, and comfortable living areas designed for modern living. With two separate structures, the property offers enhanced privacy, flexible management options,

Key facts

• 3-bedroom floor plan
• 6
• 816 sf lot

Tags

• 6
• 816 SF LOT
• 3-BEDROOM FLOOR PLAN
• 2-BATHROOM FLOOR PLAN
• TWO SEPARATE STRUCTURES
• AMPLE ON-SITE PARKING

Property features AI

Finance

• Other: Number of buildings: 2; Total number of units on site: 6
• Financial info: Total building area reported as 6,816; Gross scheduled income: $144,000; Gross income: $144,000; Net operating income: $114,950; Gross multiplier: 14.5; Operating expenses: $29,050; Expense examples: Trash $100, Water/Sewer $500, Electric $100, Insurance $333.33; Current total rent reported: $6,000 (per unit grouping) with 3 units in each grouping
• HOA & community: Property is subject to rent control

Exterior

• Parking: Six parking spaces; Six carport spaces
• Security: No security features provided
• Utilities: Public/district water; Sewer paid; Six separate electric meters; Six separate gas meters; One separate water meter
• Home design: Multi-unit property (6 units total); Two stories; Upper-level entry; Attached building; Property does not include an ADU
• Construction: Year built reported by assessor; Lot shape varies (rectangular and irregular), with both upslope and downslope from the street
• Exterior features: No pool; Curbs, sidewalks and street lighting in the neighborhood; Urban setting, bike-friendly

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Total of 9 bedrooms across units
• Flooring: No flooring details provided
• Bathrooms: Total of 8 full bathrooms across units
• Heating & cooling: Wall heaters; Wall/window cooling units
• Interior features: Upper-level entry; Attached property; Two-story building; One common wall
• Laundry & utility: On-site laundry available; Individual laundry rooms and shared (community) laundry; Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 18 × 1-bed/?-bath units multifamily listed at $2.09M.

Deal economics

• At list price, monthly cash flow is $18k ($219k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($39k rent vs $2.09M).
• Recommended offer: $2.03M (3.0% below list) — sets the bar for market timing.
• Cap rate 16.8% 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 fast (+7.2%/yr); 153 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 $39,438/mo this rent would consume 575% of the median local household income ($82k/yr) (locally 1522% 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 $14k of loan paydown is wiped out by about $63k 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 + 7.2% rent growth), your $585k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($2.03M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y 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.
• Current owner paid $665k; list at $2.09M implies a 214% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major 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 $2,027,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.89% ✓
• Cap rate: 16.79%
• Cash-on-cash: 37.49%
• DSCR: 2.67
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $1,250,736
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3559 Pueblo Ave	0.38mi	8/5.0 (-1)	3,136 (-8%)	15mo	$1,150,000	$367	47
5337 Allan St	0.71mi	9/5.0	3,522 (+3%)	12mo	$990,000	$281	47

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 · 7.21% rent growth · sell at horizon

5-year hold

• IRR: 37.8%
• Equity multiple: 2.70×
• Total profit: $995,278
• Equity at exit: $311,626

10-year hold

• IRR: 46.3%
• Equity multiple: 6.36×
• Total profit: $3,138,662
• Equity at exit: $180,705

Cash invested: $585,200 (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 90032

• Rents YoY: 7.2%
• Active inventory: 153
• Price-to-rent: 79.5×

Monthly cashflow live

• Estimated rent: $39,438 high
• Mortgage (P&I): −$10,960
• Tax from tax record: −$1,043 /mo · $12,518/yr
• Insurance: −$871
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,282
• Net cashflow: $18,215

Break-even live

Break-even rent $16,381

Max offer price $2,090,000

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 18× units	1	—	$39,438
Total (18 units)			$39,438

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: $522,500
• Closing costs: $62,700
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-18
   days on market $2,090,000 Active 35 DOM
2. 2026-06-17
   days on market $2,090,000 Active 34 DOM
3. 2026-06-16
   days on market $2,090,000 Active 33 DOM
4. 2026-06-15
   days on market $2,090,000 Active 32 DOM
5. 2026-06-13
   days on market $2,090,000 Active 30 DOM
6. 2026-06-09
   days on market $2,090,000 Active 26 DOM
7. 2026-06-08
   days on market $2,090,000 Active 25 DOM
8. 2026-06-07
   days on market $2,090,000 Active 24 DOM
9. 2026-06-04
   days on market $2,090,000 Active 21 DOM
10. 2026-06-03
    days on market $2,090,000 Active 20 DOM
11. 2026-06-02
    days on market $2,090,000 Active 19 DOM
12. 2026-06-01
    days on market $2,090,000 Active 18 DOM
13. 2026-05-31
    days on market $2,090,000 Active 17 DOM
14. 2026-05-14
    listed $2,090,000 Active
15. 2024-10-15
    historical
16. 2024-10-01
    price $2,295,000
17. 2024-06-18
    price $2,375,000
18. 2024-04-12
    listed $2,550,000 Active
19. 2023-12-01
    historical
20. 2023-08-23
    price $2,550,000
21. 2023-05-02
    listed $2,700,000 Active
22. 2004-06-15
    soldstatus $665,000
23. 2004-06-08
    soldstatus $665,000
24. 2004-03-19
    listed $675,000
25. 2004-03-18
    historical
26. 2004-01-27
    listed $675,000
27. 2003-08-22
    soldstatus $543,000
28. 2003-08-22
    soldstatus $543,000
29. 2003-06-19
    listed $548,000
30. 2001-09-01
    historical
31. 2001-03-01
    listed $420,000
32. 1988-08-26
    soldstatus $385,000
33. 1987-10-13
    soldstatus $320,000

ⓘ 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: $12,518 · $1,043/mo
• Projected year-2 tax: $15,884 · $1,324/mo
• Expected delta: +$3,366/yr (+$280/mo · 26.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $473,256
• − Mortgage interest: −$117,072
• − Property taxes: −$12,518
• − Insurance: −$11,248
• − Repairs & maintenance: −$37,860
• − Management: −$37,860
• − Depreciation: −$60,800
• Taxable income: $195,897
• Est. tax owed @ 24.0%: −$47,015
• After-tax cash flow: $171,569/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): 43,117
• Household income: $82,292
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 1522.0

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: Predominantly Hispanic (74%)
• Race & ethnicity: Hispanic / Latino 74% Two or more races 19% Asian 12% White 10% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Iranian 1%
• Foreign-born: 36% · Canada, China, South Korea
• Languages at home: 33% English-only · Spanish 57% Chinese 6% Tagalog/Filipino 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: ▼ -1250.52%
• Current HPI: 507.2343
• Rent YoY: ▲ 7.21%
• 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

+553.1% since first listed

20 events — show timeline

• 2026-05-14 Listed $2,090,000 CRMLS
• 2024-10-15 Listing Removed — CRMLS
• 2024-10-01 Price Changed $2,295,000 CRMLS
• 2024-06-18 Price Changed $2,375,000 CRMLS
• 2024-04-12 Listed $2,550,000 CRMLS
• 2023-12-01 Listing Removed — CRMLS
• 2023-08-23 Price Changed $2,550,000 CRMLS
• 2023-05-02 Listed $2,700,000 CRMLS
• 2004-06-15 Sold (MLS) $665,000 CRMLS
• 2004-06-08 Sold (Public Records) $665,000 Public Records
• 2004-03-19 Listed $675,000 CRMLS
• 2004-03-18 Listing Removed — CRMLS
• 2004-01-27 Listed $675,000 CRMLS
• 2003-08-22 Sold (Public Records) $543,000 Public Records
• 2003-08-22 Sold (MLS) $543,000 CRMLS
• 2003-06-19 Listed $548,000 CRMLS
• 2001-09-01 Listing Removed — CRMLS
• 2001-03-01 Listed $420,000 CRMLS
• 1988-08-26 Sold (Public Records) $385,000 Public Records
• 1987-10-13 Sold (Public Records) $320,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $12,518 · +1.5% YoY. Source: county tax records.