1252 Smithwood Dr · Los Angeles, CA 90035

$2,300,000

8 bd · 6.0 ba · 4,853 sqft · MultiFamily public records · 54 Days on market

Built 1952 6,600 sqft lot $474/sqft · 21% below area Est $2917k · 21% under ↓ 3% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.2/30.0
• Appreciation +6.4/10.0
• DSCR +3.6/10.0
• Schools +3.6/10.0
• 1% rule +3.5/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Amazing & rare opportunity to acquire a Six Unit building located in highly desirable Pico-Robertson neighborhood just blocks to Beverly Hills (off Beverly Drive) on a gorgeous tree-lined street. Long term ownership, thoughtfully maintained & first time on the market in many decades. Property features 2: two bedrooms/one-bathroom units (top with balcony) and 4: one bedroom/one-bathroom units. Includes Carport with six parking spaces is detached from the main building. Tenant community laundry on-site. Property strategically & conveniently located nearby Century City, Culver City, West LA, Westwood, The Grove entertainment, restaurants & shopping.

Key facts

• 6,600 sq ft lot
• 6 parking spots
• Built 1952

Property features AI

Finance

• Other: Possession subject to tenant rights at close of escrow; Property sold As-Is (trust/conservatorship disclosure)
• Financial info: Actual annual gross rent reported; Unit-level rents and counts: four 1-bed/1-bath units and two 2-bed/2-bath units; Six refrigerators and six ranges provided for the units; Laundry equipment is owner-owned; Tenants pay cable TV and electric; owner pays water and gardener
• HOA & community: Six units in the complex

Exterior

• Parking: Six covered carport spaces (detached carport with built-in storage); Total of six parking spaces
• Utilities: Water service to the street; Sewer to the street; Electric paid by tenants; water and gardener paid by owner
• Home design: Residential income property; Two-level building (two stories); Single building on site
• Construction: No additional exterior structures; Property configured as apartments
• Exterior features: Balcony; Sidewalks; Alley access

Interior

• Kitchen: Free-standing gas ranges in units; Refrigerators provided (six total across property)
• Bedrooms: Units include 1-bed and 2-bed layouts (see unit breakdown)
• Flooring: Mixed flooring: hardwood, carpet, linoleum, and laminate
• Bathrooms: Shower over tub configuration in bathrooms
• Heating & cooling: Wall heating; No central cooling; Central water heater
• Interior features: Jalousie/louvered windows and multiple blind types (vertical, mini, window blinds)
• Laundry & utility: On-site laundry available (units have laundry in closet and outdoor laundry options); Washer and dryer present

🏷️ Possibly a rental listed for sale. The $2,300,000 price doesn't fit this home's estimated sale value (~$2,917,196) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 4×1bd/1ba units multifamily listed at $2.30M.

Deal economics

• At list price, monthly cash flow is $-459 ($-6k/yr) — negative. Per door: $-76/mo.
• To cash-flow at today's rent, offer at most $2.23M (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.95M (15.0% below list).
• Recommended offer: $1.95M (15.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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-, 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: Canfield Avenue Elementary (334 students, 28% FRL); Palms Middle (1,244 students, 66% FRL); Alexander Hamilton Senior High (math 31% / reading 65%, grade D, #380 of 1,170 statewide, top 33%, 2,259 students, 74% FRL).
• Market conditions: Rents soft (-1.6%/yr); 108 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $19,539/mo this rent would consume 223% of the median local household income ($105k/yr) (locally 2317% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $78k of equity ($16k loan paydown + $62k appreciation (2.7% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$196k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($2.23M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $1,953,900 (15.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.85% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.86%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

• ARV (median comp): $2,917,196
• List price: $2,300,000
• Delta: -18.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
419 S Rexford Dr	0.25mi	8/8.0	5,511 (+14%)	3mo	$3,995,000	$725	55
1437 Cardiff Ave	0.28mi	8/9.0	4,982 (+3%)	21mo	$3,500,000	$703	53
1449 S Durango Ave	0.49mi	8/7.0	4,255 (-12%)	4mo	$2,510,170	$590	49
148 S Maple Dr	0.70mi	8/8.0	4,977 (+3%)	18mo	$2,650,000	$532	40
120 S Elm Dr	0.73mi	8/4.0	4,976 (+2%)	20mo	$2,200,000	$442	37
151 S Rexford Dr	0.67mi	9/8.0 (+1)	5,508 (+14%)	10mo	$3,000,000	$545	24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.72% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 4.4%
• Equity multiple: 1.24×
• Total profit: $156,627
• Equity at exit: $997,751

10-year hold

• IRR: 6.3%
• Equity multiple: 1.89×
• Total profit: $575,049
• Equity at exit: $1,509,909

Cash invested: $644,000 (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 90035

• Home prices YoY: 0.7%
• Rents YoY: -1.6%
• Active inventory: 108
• Price-to-rent: 56.3×

Monthly cashflow live

• Estimated rent: $19,539 high
• Mortgage (P&I): −$12,061
• Tax est. 1.5%: −$2,875 /mo · $34,500/yr
• Insurance: −$958
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,103
• Net cashflow: $-459

Break-even live

Break-even rent $20,120

Max offer price $2,233,586

Occupancy floor 97%

Sensitivity live

Price	-10% $1,131	-5% $336	+0% $-459	+5% $-1,254	+10% $-2,048
Rent	-10% $-2,003	-5% $-1,231	+0% $-459	+5% $313	+10% $1,085
Rate	-1.0pp $699	-0.5pp $126	base $-459	+0.5pp $-1,055	+1.0pp $-1,661

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,806
▸ 4× units	1	1	$12,732
Total (6 units)			$19,539

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: $575,000
• Closing costs: $69,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1510 Cardiff Ave Los Angeles, CA	7.0	5.5	4747	$19,000	$4.00	9d	1	0.40mi
9500 Sawyer St Los Angeles, CA	7.0	4.5	3554	$17,500	$4.92	2d	1	0.70mi
517 N Elm Dr Beverly Hills, CA	7.0	6.0	5158	$30,000	$5.82	9d	1	1.47mi
9041 Cattaraugus Ave Los Angeles, CA	8.0	8.0	5689	$15,500	$2.72	45d	1	1.48mi

Listing history 15 events

1. 2026-06-21
   pricedays on market $2,300,000 Active 54 DOM
2. 2026-06-18
   days on market $2,375,000 Active 51 DOM
3. 2026-06-17
   days on market $2,375,000 Active 50 DOM
4. 2026-06-16
   days on market $2,375,000 Active 49 DOM
5. 2026-06-15
   days on market $2,375,000 Active 48 DOM
6. 2026-06-13
   days on market $2,375,000 Active 46 DOM
7. 2026-06-09
   days on market $2,375,000 Active 42 DOM
8. 2026-06-08
   days on market $2,375,000 Active 41 DOM
9. 2026-06-07
   days on market $2,375,000 Active 40 DOM
10. 2026-06-04
    days on market $2,375,000 Active 37 DOM
11. 2026-06-03
    days on market $2,375,000 Active 36 DOM
12. 2026-06-02
    days on market $2,375,000 Active 35 DOM
13. 2026-06-01
    days on market $2,375,000 Active 34 DOM
14. 2026-05-31
    days on market $2,375,000 Active 33 DOM
15. 2026-04-25
    listed $2,375,000 Active 678-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥86°F today · 21 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: $234,468
• − Mortgage interest: −$128,836
• − Property taxes: −$34,500
• − Insurance: −$11,500
• − Repairs & maintenance: −$18,757
• − Management: −$18,757
• − Depreciation: −$66,909
• Taxable loss: −$44,792
• Est. tax savings @ 24.0%: +$10,750
• After-tax cash flow: $5,242/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): 29,000
• Household income: $105,013
• Rent vs Own: 69.5% rent · 30.5% own
• Severe rent burden: 2317.0

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 0.57)
• Race & ethnicity: White 64% Hispanic / Latino 14% Two or more races 11% Asian 7% Black 7%
• Hispanic origin (detail): Mexican 7% Cuban 1%
• Common ancestry: Scotch-Irish 4% Italian 3% Romanian 3%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 72% English-only · Other Indo-European 8% Spanish 7% Russian/Polish/Slavic 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: ▲ 2.72%
• Current HPI: 394.903
• Rent YoY: ▼ -1.60%
• 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

-3.2% since first listed

2 events — show timeline

• 2026-06-20 Price Changed $2,300,000 TheMLS
• 2026-04-25 Listed $2,375,000 TheMLS

Property tax history

+1.9%/yr

Latest (2025): $3,863 · +2.3% YoY. Source: county tax records.