616 N St Louis St · Los Angeles, CA 90033

$660,000

7 bd · 4.0 ba · 3,612 sqft · MultiFamily public records · 144 Days on market

Built 1900 5,496 sqft lot $183/sqft · 31% below area Est $952k · 31% under ↓ 37% since listing

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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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.1/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• 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

Situated in the vibrant Boyle Heights neighborhood of Los Angeles, this two-story structure offers a rare blend of scale and income potential! Originally built in 1900 and formerly a duplex, the residence now totals approximately 3,612 square feet and has been separated into four individual units. It features a total of 7 bedrooms and 4 baths, with all apartments currently occupied. Set on a 5,496 square foot lot, the home retains the solid character of early-20th-century construction while supporting flexible multi-unit living. A detached 2-car garage is available at the rear, along with an extended driveway that accommodates multiple vehicles. Tenants benefit from close proximity to shopping, dining, local schools, and Hazard Recreation Center, as well as the rich cultural heritage of the surrounding community, highlighted by year-round events at Mariachi Plaza. Convenient access to the I-10 and CA-101 freeways allows for easy travel to Downtown Los Angeles, USC, and Cal State LA, making this a well-located and historically significant investment opportunity. Consider adding it to your portfolio today!

Key facts

• Extended driveway
• 5,496 sq ft lot
• Garage

Tags

• FOUR INDIVIDUAL UNITS
• DETACHED 2-CAR GARAGE
• EXTENDED DRIVEWAY
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO DINING

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $660k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $760/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $660k).
• Recommended offer: $581k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 soft (-2.3%/yr); 107 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $7,315/mo this rent would consume 147% of the median local household income ($60k/yr) (locally 3159% 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 $5k of loan paydown is wiped out by about $20k 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 144 days — a 12% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 2y ago; this cycle's ask has dropped $40k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $580,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 1900 — 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: 1.11% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.87%
• DSCR: 1.44
• GRM: 7.5

CMA / ARV

• ARV (median comp): $952,112
• List price: $660,000
• Delta: -30.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
332 N St Louis St	0.27mi	6/5.0 (-1)	3,398 (-6%)	10mo	$875,000	$258	60
2522 Michigan Ave	0.49mi	8/4.0 (+1)	3,732 (+3%)	15mo	$1,290,000	$346	54
1521 Bridge St	0.57mi	6/4.0 (-1)	3,352 (-7%)	9mo	$820,000	$245	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-31,692
• Equity at exit: $98,408

10-year hold

• IRR: 1.2%
• Equity multiple: 1.07×
• Total profit: $13,856
• Equity at exit: $57,065

Cash invested: $184,800 (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 90033

• Home prices YoY: -29.9%
• Rents YoY: -2.3%
• Active inventory: 107
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $7,315 high
• Mortgage (P&I): −$3,461
• Tax from tax record: −$523 /mo · $6,281/yr
• Insurance: −$275
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,536
• Net cashflow: $1,519

Break-even live

Break-even rent $5,392

Max offer price $660,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,893	-5% $1,706	+0% $1,519	+5% $1,333	+10% $1,146
Rent	-10% $941	-5% $1,230	+0% $1,519	+5% $1,808	+10% $2,097
Rate	-1.0pp $1,852	-0.5pp $1,687	base $1,519	+0.5pp $1,348	+1.0pp $1,174

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$7,314
Total (2 units)			$7,315

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: $165,000
• Closing costs: $19,800
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-01
   days on market $660,000 Active 144 DOM
2. 2026-05-31
   days on market $660,000 Active 143 DOM
3. 2026-03-23
   price $660,000 1121-char remark

   Show marketing remark (1121 chars)

   Situated in the vibrant Boyle Heights neighborhood of Los Angeles, this two-story structure offers a rare blend of scale and income potential! Originally built in 1900 and formerly a duplex, the residence now totals approximately 3,612 square feet and has been separated into four individual units. It features a total of 7 bedrooms and 4 baths, with all apartments currently occupied. Set on a 5,496 square foot lot, the home retains the solid character of early-20th-century construction while supporting flexible multi-unit living. A detached 2-car garage is available at the rear, along with an extended driveway that accommodates multiple vehicles. Tenants benefit from close proximity to shopping, dining, local schools, and Hazard Recreation Center, as well as the rich cultural heritage of the surrounding community, highlighted by year-round events at Mariachi Plaza. Convenient access to the I-10 and CA-101 freeways allows for easy travel to Downtown Los Angeles, USC, and Cal State LA, making this a well-located and historically significant investment opportunity. Consider adding it to your portfolio today!

4. 2026-02-24
   price $679,900 1121-char remark

   Show marketing remark (1121 chars)

   Situated in the vibrant Boyle Heights neighborhood of Los Angeles, this two-story structure offers a rare blend of scale and income potential! Originally built in 1900 and formerly a duplex, the residence now totals approximately 3,612 square feet and has been separated into four individual units. It features a total of 7 bedrooms and 4 baths, with all apartments currently occupied. Set on a 5,496 square foot lot, the home retains the solid character of early-20th-century construction while supporting flexible multi-unit living. A detached 2-car garage is available at the rear, along with an extended driveway that accommodates multiple vehicles. Tenants benefit from close proximity to shopping, dining, local schools, and Hazard Recreation Center, as well as the rich cultural heritage of the surrounding community, highlighted by year-round events at Mariachi Plaza. Convenient access to the I-10 and CA-101 freeways allows for easy travel to Downtown Los Angeles, USC, and Cal State LA, making this a well-located and historically significant investment opportunity. Consider adding it to your portfolio today!

5. 2026-02-13
   price $689,900 1121-char remark

   Show marketing remark (1121 chars)

   Situated in the vibrant Boyle Heights neighborhood of Los Angeles, this two-story structure offers a rare blend of scale and income potential! Originally built in 1900 and formerly a duplex, the residence now totals approximately 3,612 square feet and has been separated into four individual units. It features a total of 7 bedrooms and 4 baths, with all apartments currently occupied. Set on a 5,496 square foot lot, the home retains the solid character of early-20th-century construction while supporting flexible multi-unit living. A detached 2-car garage is available at the rear, along with an extended driveway that accommodates multiple vehicles. Tenants benefit from close proximity to shopping, dining, local schools, and Hazard Recreation Center, as well as the rich cultural heritage of the surrounding community, highlighted by year-round events at Mariachi Plaza. Convenient access to the I-10 and CA-101 freeways allows for easy travel to Downtown Los Angeles, USC, and Cal State LA, making this a well-located and historically significant investment opportunity. Consider adding it to your portfolio today!

6. 2026-01-07
   listed $699,900 Active 1121-char remark

   Show marketing remark (1121 chars)

   Situated in the vibrant Boyle Heights neighborhood of Los Angeles, this two-story structure offers a rare blend of scale and income potential! Originally built in 1900 and formerly a duplex, the residence now totals approximately 3,612 square feet and has been separated into four individual units. It features a total of 7 bedrooms and 4 baths, with all apartments currently occupied. Set on a 5,496 square foot lot, the home retains the solid character of early-20th-century construction while supporting flexible multi-unit living. A detached 2-car garage is available at the rear, along with an extended driveway that accommodates multiple vehicles. Tenants benefit from close proximity to shopping, dining, local schools, and Hazard Recreation Center, as well as the rich cultural heritage of the surrounding community, highlighted by year-round events at Mariachi Plaza. Convenient access to the I-10 and CA-101 freeways allows for easy travel to Downtown Los Angeles, USC, and Cal State LA, making this a well-located and historically significant investment opportunity. Consider adding it to your portfolio today!

7. 2025-09-19
   status Active
8. 2025-09-19
   historical
9. 2025-07-28
   listed $815,000
10. 2025-07-28
    historical
11. 2025-06-16
    historical
12. 2025-06-03
    status Active
13. 2025-06-03
    price $815,000
14. 2025-05-07
    price $830,000
15. 2025-04-23
    status Active
16. 2025-04-23
    price $845,000
17. 2025-03-28
    historical
18. 2025-03-27
    status Active
19. 2025-03-19
    listed $879,900 Active
20. 2025-03-19
    listed $879,900 Active
21. 2025-03-19
    historical
22. 2025-03-18
    historical
23. 2025-02-03
    price $950,000
24. 2025-02-02
    status Active
25. 2025-01-27
    status Pending Sale
26. 2024-12-10
    price $999,999
27. 2024-11-18
    price $1,025,000
28. 2024-10-17
    listed $1,050,000 Active

ⓘ 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: $6,281 · $523/mo
• Projected year-2 tax: $6,281 · $523/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 ≥94°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: $87,780
• − Mortgage interest: −$36,970
• − Property taxes: −$6,281
• − Insurance: −$3,300
• − Repairs & maintenance: −$7,022
• − Management: −$7,022
• − Depreciation: −$19,200
• Taxable income: $7,984
• Est. tax owed @ 24.0%: −$1,916
• After-tax cash flow: $16,316/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): 45,647
• Household income: $59,652
• Rent vs Own: 82.4% rent · 17.6% own
• Severe rent burden: 3159.0

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 (90%)
• Race & ethnicity: Hispanic / Latino 90% Two or more races 13% Asian 4% White 3% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 75%
• Foreign-born: 43% · Canada, South Korea, China
• Languages at home: 16% English-only · Spanish 80% Other Asian/Pacific 1% Korean 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: ▼ -201.59%
• Current HPI: 472.4588
• Rent YoY: ▼ -2.34%
• 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

-37.1% since first listed

26 events — show timeline

• 2026-03-23 Price Changed $660,000 TheMLS
• 2026-02-24 Price Changed $679,900 TheMLS
• 2026-02-13 Price Changed $689,900 TheMLS
• 2026-01-07 Listed $699,900 TheMLS
• 2025-09-19 Relisted — CRMLS
• 2025-09-19 Listing Removed — CRMLS
• 2025-07-28 Listing Removed — CRMLS
• 2025-07-28 Listed $815,000 CRMLS
• 2025-06-16 Listing Removed — CRMLS
• 2025-06-03 Relisted — CRMLS
• 2025-06-03 Price Changed $815,000 CRMLS
• 2025-05-07 Price Changed $830,000 CRMLS
• 2025-04-23 Relisted — CRMLS
• 2025-04-23 Price Changed $845,000 CRMLS
• 2025-03-28 Listing Removed — CRMLS
• 2025-03-27 Relisted — CRMLS
• 2025-03-19 Listing Removed — CRMLS
• 2025-03-19 Listed $879,900 CRMLS
• 2025-03-19 Listed $879,900 CRMLS
• 2025-03-18 Listing Removed — CRMLS
• 2025-02-03 Price Changed $950,000 CRMLS
• 2025-02-02 Relisted — CRMLS
• 2025-01-27 Pending — CRMLS
• 2024-12-10 Price Changed $999,999 CRMLS
• 2024-11-18 Price Changed $1,025,000 CRMLS
• 2024-10-17 Listed $1,050,000 CRMLS

Property tax history

+1.7%/yr

Latest (2025): $6,281 · +1.4% YoY. Source: county tax records.