2717 S Budlong Ave · Los Angeles, CA 90007

$1,325,000

14 bd · 8.0 ba · 7,318 sqft · MultiFamily public records · 8 Days on market

Built 1931 7,775 sqft lot $181/sqft · 42% below area Est $2278k · 42% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Rent growth +4.0/5.0
• 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: 8 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 8-Unit Value-Add Opportunity in Prime USC Secure Zone! Located directly across from Richardson Family Park, this rare multifamily offering presents tremendous upside with over 80% rental growth potential. At pro-forma rents, the property achieves a double-digit cap rate exceeding 10%, making it one of the most attractive investment opportunities in the USC area. The property features a highly desirable unit mix of six 2BR/1BA units and two 1BR/1BA units, with an impressive average unit size of 822 SF. Situated on a 7,715 SF lot, the building includes 8 on-site parking spaces and is separately metered for gas and electricity, ensuring low operating expenses. Additionally, the ele

Key facts

• 7,775 sq ft lot
• 8 parking spots
• Built 1931

Property features AI

Finance

• Other: One building on the parcel
• Financial info: Actual annual gross rent approximately $114,228.72; Gross operating income approximately $114,228; Net operating income approximately $70,055; Total annual expenses approximately $44,174; Cap rate about 5.2; Gross rent multiplier about 12.25; Projected market rents listed per unit (examples): projected $3,200 for several 2-bed units and $2,100 for 1-bed units
• HOA & community: Eight units in the complex (total)

Exterior

• Parking: Assigned garage parking; Total of 8 parking spaces
• Home design: Residential income property; Two-level building (2 total floors)
• Exterior features: Lot dimensions approximately 58 x 134; Zoned LAR3; No other structures

Interior

• Kitchen: Range/Oven; Refrigerator
• Bedrooms: Eight residential units: six 2-bedroom units and two 1-bedroom units
• Bathrooms: Each unit has one bathroom
• Heating & cooling: Wall heat; Wall unit cooling
• Interior features: Range/Oven; Refrigerator; Wall unit cooling; Wall heat

What this means for you Summary

Snapshot

• This is a 8 × 2.0-bed/1.0-bath units multifamily listed at $1.32M.

Deal economics

• At list price, monthly cash flow is $7k ($87k/yr) — positive. Per door: $905/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.32M).
• Cap rate 12.8% 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 (+5.9%/yr); 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $19,579/mo this rent would consume 664% of the median local household income ($35k/yr) (locally 4179% 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 $9k of loan paydown is wiped out by about $40k 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 + 5.9% rent growth), your $371k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 29y 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.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,325,000

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 1931 — 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: 1.48% ✓
• Cap rate: 12.85%
• Cash-on-cash: 23.42%
• DSCR: 2.04
• GRM: 5.6

CMA / ARV

• ARV (median comp): $2,277,969
• List price: $1,325,000
• Delta: -40.75%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3415 S Normandie Ave	0.45mi	13/13.0 (-1)	7,227 (-1%)	18mo	$2,175,000	$301	42

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 · 5.88% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.82×
• Total profit: $304,477
• Equity at exit: $197,562

10-year hold

• IRR: 29.6%
• Equity multiple: 4.00×
• Total profit: $1,111,849
• Equity at exit: $114,562

Cash invested: $371,000 (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 90007

• Home prices YoY: -32.8%
• Rents YoY: 5.9%
• Active inventory: 86
• Price-to-rent: 45.1×

Monthly cashflow live

• Estimated rent: $19,579 high
• Mortgage (P&I): −$6,948
• Tax from tax record: −$727 /mo · $8,728/yr
• Insurance: −$552
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,112
• Net cashflow: $7,240

Break-even live

Break-even rent $10,415

Max offer price $1,325,000

Occupancy floor 58%

Sensitivity live

Price	-10% $7,990	-5% $7,615	+0% $7,240	+5% $6,865	+10% $6,490
Rent	-10% $5,693	-5% $6,466	+0% $7,240	+5% $8,013	+10% $8,786
Rate	-1.0pp $7,907	-0.5pp $7,577	base $7,240	+0.5pp $6,896	+1.0pp $6,547

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

Units	Beds	Baths	Est. rent
▸ 8× units	2.0	1	$19,576
Total (8 units)			$19,579

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: $331,250
• Closing costs: $39,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1150 W 38th St Los Angeles, CA	3.0–19.0	3.0–18.5	4527	$17,656	$3.90	2d	9	0.89mi

Listing history 28 events

1. 2026-06-21
   days on market $1,325,000 Active 8 DOM
2. 2026-06-18
   days on market $1,325,000 Active 5 DOM
3. 2026-06-17
   days on market $1,325,000 Active 4 DOM
4. 2026-06-16
   days on market $1,325,000 Active 3 DOM
5. 2026-06-15
   days on market $1,325,000 Active 2 DOM
6. 2026-06-13
   pricedays on marketlisting id $1,325,000 Active 1 DOM
7. 2026-06-09
   days on market $1,349,800 Active 77 DOM
8. 2026-06-08
   days on market $1,349,800 Active 76 DOM
9. 2026-06-07
   days on market $1,349,800 Active 75 DOM
10. 2026-06-04
    days on market $1,349,800 Active 72 DOM
11. 2026-06-03
    days on market $1,349,800 Active 71 DOM
12. 2026-06-02
    days on market $1,349,800 Active 70 DOM
13. 2026-06-01
    days on market $1,349,800 Active 69 DOM
14. 2026-05-31
    days on market $1,349,800 Active 68 DOM
15. 2026-03-24
    listed $1,349,800 Active 1053-char remark
16. 2026-01-22
    listed Active
17. 2025-11-11
    price
18. 2025-08-29
    listed Active
19. 2025-05-29
    soldstatus $1,295,000 Sold
20. 2025-04-07
    status Pending
21. 2025-03-05
    price $1,495,000
22. 2025-02-17
    listed $1,745,000 Active
23. 1998-08-27
    historical
24. 1998-05-27
    listed
25. 1998-02-28
    historical
26. 1997-10-28
    listed
27. 1987-11-19
    soldstatus $285,000
28. 1986-10-08
    soldstatus $200,000

ⓘ 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: $8,728 · $727/mo
• Projected year-2 tax: $10,070 · $839/mo
• Expected delta: +$1,342/yr (+$112/mo · 15.4%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥90°F today · 22 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: $234,948
• − Mortgage interest: −$74,221
• − Property taxes: −$8,728
• − Insurance: −$6,625
• − Repairs & maintenance: −$18,796
• − Management: −$18,796
• − Depreciation: −$38,545
• Taxable income: $69,237
• Est. tax owed @ 24.0%: −$16,617
• After-tax cash flow: $70,258/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): 38,715
• Household income: $35,378
• Rent vs Own: 90.2% rent · 9.8% own
• Severe rent burden: 4179.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 53% Asian 18% White 17% Two or more races 14% Black 8% Native American 1%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Romanian 1% Scotch-Irish 1% Iranian 1%
• Foreign-born: 41% · Canada, China, South Korea
• Languages at home: 37% English-only · Spanish 45% Chinese 7% Other Indo-European 5%

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: ▼ -225.40%
• Current HPI: 460.9539
• Rent YoY: ▲ 5.88%
• 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

+562.5% since first listed

15 events — show timeline

• 2026-06-13 Listed $1,325,000 TheMLS
• 2026-03-24 Listed — TheMLS
• 2026-01-22 Listed — TheMLS
• 2025-11-11 Price Changed — TheMLS
• 2025-08-29 Listed — TheMLS
• 2025-05-29 Sold (MLS) $1,295,000 TheMLS
• 2025-04-07 Pending — TheMLS
• 2025-03-05 Price Changed $1,495,000 TheMLS
• 2025-02-17 Listed $1,745,000 TheMLS
• 1998-08-27 Delisted — TheMLS
• 1998-05-27 Listed — TheMLS
• 1998-02-28 Delisted — TheMLS
• 1997-10-28 Listed — TheMLS
• 1987-11-19 Sold (Public Records) $285,000 Public Records
• 1986-10-08 Sold (Public Records) $200,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $8,728 · +2.0% YoY. Source: county tax records.