1141 Hacienda Pl

West Hollywood, CA 90069

$3,850,000C-

14 bd · 14.0 ba · 9,581 sqft · Built 1959 · MultiFamily · Active · 104 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $38,792/mo
• Mortgage (P&I): −$20,190
• Tax + insurance: −$3,440
• HOA: −$0
• Vac / Maint / Mgmt: −$8,146
• Net cashflow: $7,015/mo
• Annual: $84,185/yr
• Cap rate: 8.48%
• Cash-on-cash: 7.81%
• DSCR: 1.35
• 1% rule: 1.01%
• Cash to close: $1,078,000

Investor read

• This is a 12 × 1-bed/1-bath units multifamily listed at $3.85M.
• At list price, monthly cash flow is $7k ($84k/yr) — positive. Per door: $585/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($39k rent vs $3.85M).
• It's been on market 104 days — a 9% lower offer ($3.50M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $3.50M (9.0% below list) — sets the bar for market timing.
• In year one you build about $56k of equity ($27k loan paydown + $29k appreciation (0.8% local appreciation)).
• Location reads 70/100 on livability (#239 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: West Hollywood Elementary (307 students, 30% FRL); Hubert Howe Bancroft Middle (446 students, 92% FRL); Fairfax Senior High (math 40% / reading 61%, grade D+, #324 of 1,170 statewide, top 28%, 1,632 students, 81% FRL) — zoned schools at 68% FRL track the district average.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-0.5%/yr); 384 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 3y 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 $1.07M; list at $3.85M implies a 258% gain — meaningful room to come down on a strong offer.
• At projected returns (0.8% appreciation + 0.0% rent growth), your $1.08M cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$267k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 8→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?