210 W 43rd Pl

Los Angeles, CA 90037

$3,600,000F

None bd · 30.0 ba · 14,088 sqft · Built 1926 · MultiFamily · Active · 156 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,624/mo
• Mortgage (P&I): −$18,879
• Tax + insurance: −$4,174
• HOA: −$0
• Vac / Maint / Mgmt: −$1,601
• Net cashflow: $-17,030/mo
• Annual: $-204,355/yr
• Cap rate: 0.62%
• Cash-on-cash: -20.27%
• DSCR: 0.10
• 1% rule: 0.21%
• Cash to close: $1,008,000

Investor read

• This is a 3 × ?-bed/1-bath units multifamily listed at $3.60M.
• At list price, monthly cash flow is $-17k ($-204k/yr) — negative. Per door: $-6k/mo.
• To cash-flow at today's rent, offer at most $642k (82.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $762k (78.8% below list).
• It's been on market 156 days — a 12% lower offer ($3.17M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $642k (82.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $25k of loan paydown is wiped out by about $108k of value loss. Plan a longer hold.
• 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.
• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.7%/yr); 99 active listings in the ZIP; 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.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $350k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.60M; list at $3.60M implies a 125% gain — meaningful room to come down on a strong offer.
• 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.
• Cap rate 0.6% vs local median 2.1% in Los Angeles — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• At $7,624/mo this rent would consume 159% of the median local household income ($58k/yr) (locally 4200% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 156 days. Have you received any prior offers? Is the seller open to a 82% 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 1926 — 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 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?