2051 Lake Shr · Los Angeles, CA 90039

$1,150,000

1 bd · 1.0 ba · 594 sqft · MultiFamily public records · 10 Days on market

Built 1940 6,471 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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• 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: 3 units. confirmed

Listing remarks

Tucked into the lush, storied hillsides of North Elysian Heights, this one-of-a-kind 1940s triplex is so much more than an investment property — it's an entire world unto itself. Three separate addresses (2051, 2053 & 2053½) sit nestled among mature trees, cascading bougainvillea, and layered gardens that give the compound the feel of a private botanical sanctuary in the middle of Los Angeles. A Property That Tells a Story From the moment you step through the gated entry off Lake Shore Ave, the character is undeniable. A beautifully planted walkway lined with agave, tropical foliage, potted succulents, and white river rock leads you past the front building — a clas

Key facts

• Gated entry
• 6,471 sq ft lot
• 3 garage spots

Tags

• PRIVATE BOTANICAL SANCTUARY
• GATED ENTRY
• BEAUTIFULLY PLANTED WALKWAY
• CLASSIC STUCCO STRUCTURE
• LUSHLY PLANTED COMPOUND
• PRIVATE OUTDOOR SPACE

Property features AI

Finance

• Financial info: Gross scheduled income: $76,008; Gross income: $76,008; Net operating income: $52,879; Total operating expenses: $23,129; Expense examples: Insurance $3,625; Water/Sewer $1,500; Trash $15,075; Maintenance $356; New taxes $14,375; Units currently leased: 3; Unit rents shown: $1,614; $1,920; $2,800
• HOA & community: Property is subject to rent control

Exterior

• Parking: Three garage spaces (garage front entry); Assigned parking; Three uncovered parking spaces; Total of six parking spaces
• Utilities: Public sewer; District/public water; Three separate electric meters; Three separate gas meters; One separate water meter
• Home design: Single-story building; No common walls between units
• Construction: Year built per assessor; Three separate buildings on the parcel
• Exterior features: No pool; Street lighting; Sidewalks; Foothills neighborhood setting; Lot characterized as 2–5 units per acre

Interior

• Kitchen: Kitchens included in each unit
• Bedrooms: Three separate 1-bedroom units (each unit listed as 1 bedroom)
• Bathrooms: Each unit has 1 full bathroom
• Interior features: Ground-level entry
• Laundry & utility: Washer hookup; Gas dryer hookup; Shared or on-site laundry available (Has Laundry)

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $779/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $1.15M).
• Cap rate 8.7% 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 (+1.0%/yr); 102 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $11,664/mo this rent would consume 123% of the median local household income ($114k/yr) (locally 1726% 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 $34k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,150,000

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 1940 — 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. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.71%
• DSCR: 1.39
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.02% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-60,689
• Equity at exit: $171,469

10-year hold

• IRR: 2.2%
• Equity multiple: 1.15×
• Total profit: $47,101
• Equity at exit: $99,431

Cash invested: $322,000 (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 90039

• Rents YoY: 1.0%
• Active inventory: 102
• Price-to-rent: 24.6×

Monthly cashflow live

• Estimated rent: $11,664 high
• Mortgage (P&I): −$6,031
• Tax from tax record: −$366 /mo · $4,396/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,449
• Net cashflow: $2,338

Break-even live

Break-even rent $8,704

Max offer price $1,150,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$11,664
Total (3 units)			$11,664

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: $287,500
• Closing costs: $34,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2049 Lake Shore Ave Los Angeles, CA	1.0	1.0	580	$3,400	$5.86	10d	1	0.03mi
2147 Baxter St Los Angeles, CA	1.0	1.0	700	$2,150	$3.07	4d	1	0.17mi
2147 Baxter St Unit 9 Los Angeles, CA	1.0	1.0	700	$2,150	$3.07	12d	1	0.17mi
2202 Fair Oak View Ter Unit 2204 Los Angeles, CA	2.0	1.0	718	$3,400	$4.74	24d	1	0.25mi
2257 Ewing St Los Angeles, CA	2.0	1.0	670	$2,250	$3.36	43d	1	0.37mi
2127 Glendale Blvd Los Angeles, CA	—	1.0	430	$2,200	$5.12	43d	1	0.38mi
2127 Glendale Blvd Los Angeles, CA	—	1.0	430	$2,075	$4.83	7d	1	0.38mi
2275 Ewing St Los Angeles, CA	1.0	1.0	600	$2,895	$4.83	5d	1	0.40mi
1750 Glendale Blvd Los Angeles, CA	2.0	1.0–2.0	792	$2,995	$3.78	3d	1	0.41mi
2276 Ewing St Los Angeles, CA	1.0	1.0	600	$3,200	$5.33	18d	1	0.42mi
1801 Morton Ave Los Angeles, CA	1.0–2.0	1.0	692	$2,650	$3.83	1d	4	0.56mi
1650 Echo Park Ave Los Angeles, CA	—	1.0	450	$2,050	$4.56	7d	1	0.57mi
2339 Glendale Blvd Unit 6 Los Angeles, CA	2.0	1.0	740	$2,500	$3.38	43d	1	0.61mi
2564 Corralitas Dr Los Angeles, CA	1.0	1.0	624	$2,350	$3.77	14d	1	0.65mi
2566 1/8 Corralitas Dr Los Angeles, CA	1.0	1.0	520	$2,299	$4.42	10d	1	0.66mi
1551 Echo Park Ave Los Angeles, CA	1.0	1.0	580	$2,656	$4.58	15d	3	0.67mi
2643 Pirtle St Unit 2645 2 Los Angeles, CA	1.0	1.0	480	$2,195	$4.57	43d	1	0.69mi
1828 Silver Lake Blvd Los Angeles, CA	1.0	1.0	700	$3,600	$5.14	43d	1	0.70mi
1605 Grafton St Los Angeles, CA	—	1.0	422	$2,510	$5.94	20d	5	0.70mi
1816 Silver Lake Blvd Los Angeles, CA	1.0	1.0	600	$2,895	$4.83	43d	1	0.71mi
2441 Silver Lake Blvd Los Angeles, CA	1.0	1.0	740	$2,475	$3.34	24d	1	0.75mi
1443 N Alvarado St Los Angeles, CA	—	1.0	550	$1,795	$3.26	13d	1	0.76mi
1443 N Alvarado St Los Angeles, CA	—	1.0	550	$1,775	$3.23	43d	1	0.76mi
1858 Westerly Ter Unit 1849 Los Angeles, CA	—	1.0	531	$2,500	$4.71	2d	1	0.78mi
1445 Echo Park Ave Unit 1447 Los Angeles, CA	1.0	1.0	650	$2,400	$3.69	5d	1	0.83mi
1330 Liberty St Apt 2 Los Angeles, CA	1.0	1.0	700	$1,791	$2.56	20d	1	0.89mi
1330 Liberty St Unit 4 Los Angeles, CA	1.0	1.0	700	$1,995	$2.85	5d	1	0.89mi
1416 1/2 Echo Park Ave Los Angeles, CA	1.0	1.0	700	$2,395	$3.42	43d	1	0.89mi
1317 Allesandro St Unit 10 Los Angeles, CA	—	1.0	450	$1,920	$4.27	13d	1	0.93mi
1317 Allesandro St Unit 11 Los Angeles, CA	1.0	1.0	650	$2,287	$3.52	13d	1	0.93mi
1511 1/2 Silver Lake Blvd Los Angeles, CA	2.0	2.0	682	$3,595	$5.27	7d	1	0.98mi
1501 Sunset Blvd Unit R2 Los Angeles, CA	—	1.0	421	$2,026	$4.81	13d	1	1.02mi
2002 Sunset Blvd Unit 301 Los Angeles, CA	1.0	1.0	400	$1,800	$4.50	20d	1	1.04mi
2002 W Sunset Blvd Los Angeles, CA	1.0	1.0	372	$1,800	$4.84	16d	2	1.04mi
1915 Park Ave Los Angeles, CA	2.0	1.0–2.0	743	$3,888	$5.23	5d	9	1.05mi
2022 W Sunset Blvd Los Angeles, CA	1.0	1.0	700	$2,400	$3.43	16d	1	1.06mi
1039 N Bonnie Brae St Unit 30 Los Angeles, CA	1.0	1.0	350	$1,850	$5.29	43d	1	1.07mi
1039 N Bonnie Brae St Los Angeles, CA	1.0	1.0	262	$1,850	$7.05	2d	3	1.07mi
1461 Sunset Blvd Unit 306 Los Angeles, CA	—	1.0	400	$2,050	$5.12	24d	1	1.07mi
1042 N Bonnie Brae St Los Angeles, CA	1.0	1.0	500	$2,350	$4.70	43d	1	1.07mi

Listing history 7 events

1. 2026-06-18
   days on market $1,150,000 Active 10 DOM
2. 2026-06-17
   days on market $1,150,000 Active 9 DOM
3. 2026-06-16
   days on market $1,150,000 Active 8 DOM
4. 2026-06-15
   days on market $1,150,000 Active 7 DOM
5. 2026-06-13
   days on market $1,150,000 Active 5 DOM
6. 2026-06-09
   remarks 676-char remark
7. 2026-06-09
   listed $1,150,000 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: $4,396 · $366/mo
• Projected year-2 tax: $8,740 · $728/mo
• Expected delta: +$4,344/yr (+$362/mo · 98.8%)

ⓘ 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 5/10 Major 6 d/yr ≥94°F today · 19 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: $139,968
• − Mortgage interest: −$64,418
• − Property taxes: −$4,396
• − Insurance: −$5,750
• − Repairs & maintenance: −$11,197
• − Management: −$11,197
• − Depreciation: −$33,455
• Taxable income: $9,555
• Est. tax owed @ 24.0%: −$2,293
• After-tax cash flow: $25,767/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): 28,884
• Household income: $113,818
• Rent vs Own: 54.3% rent · 45.7% own
• Severe rent burden: 1726.0

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 0.69)
• Race & ethnicity: White 42% Hispanic / Latino 31% Asian 19% Two or more races 14% Black 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Romanian 2% Italian 2% Scotch-Irish 2%
• Foreign-born: 30% · Canada, China, South Korea
• Languages at home: 59% English-only · Spanish 25% Tagalog/Filipino 8% Other Indo-European 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: ▼ -987.09%
• Current HPI: 469.7964
• Rent YoY: ▲ 1.02%
• 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

• 2026-06-08 Listed $1,150,000 CRMLS

Property tax history

+10.7%/yr

Latest (2025): $4,396 · +1.6% YoY. Source: county tax records.