1800 S Bundy Dr · Los Angeles, CA 90025

$2,400,000

9 bd · 11.0 ba · 8,332 sqft · MultiFamily public records · 58 Days on market

Built 1963 7,566 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.5/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 11 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

11980 Nebraska Ave is a newly listed 11 unit multifamily opportunity in a Prime West Los Angeles pocket just off Bundy Dr. , offering investors a compelling blend of stable in-place income and long-term upside in a supply constrained Westside submarket. The property is 100% occupied and features a diverse unit mix of (2) Bachelor/1 Bath, (8) 1 Bed/1Bath, and (1) 2 Bed/2 Bath units, supporting broad renter appeal and durable long-term demand. One of the bachelor units is non-conforming. The asset also includes 10 on-site parking spaces and is situated on LAR3 zoning, providing added flexibility and long-term value in a high-barrier Westside location. Residents benefit from excellent connecti

Key facts

• Diverse unit mix
• Lar3 zoning
• 100 percent occupied

Tags

• MULTIFAMILY OPPORTUNITY
• 100 PERCENT OCCUPIED
• DIVERSE UNIT MIX
• ON-SITE PARKING SPACES
• LAR3 ZONING
• EXCELLENT CONNECTIVITY

What this means for you Summary

Snapshot

• This is a 11 × 9-bed/11.0-bath units multifamily listed at $2.40M.

Deal economics

• At list price, monthly cash flow is $21k ($253k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($45k rent vs $2.40M).
• Recommended offer: $2.33M (3.0% below list) — sets the bar for market timing.
• Cap rate 16.8% 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 soft (-0.4%/yr); 153 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $45,258/mo this rent would consume 523% of the median local household income ($104k/yr) (locally 4925% 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 (-1.0%/yr); year-one equity from $17k of loan paydown is wiped out by about $25k 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 (-1.0% appreciation + 0.0% rent growth), your $672k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($2.33M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $578k; list at $2.40M implies a 315% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,328,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.89% ✓
• Cap rate: 16.83%
• Cash-on-cash: 37.63%
• DSCR: 2.67
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.03% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 33.9%
• Equity multiple: 2.53×
• Total profit: $1,024,809
• Equity at exit: $575,691

10-year hold

• IRR: 36.9%
• Equity multiple: 4.42×
• Total profit: $2,297,912
• Equity at exit: $601,420

Cash invested: $672,000 (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 90025

• Home prices YoY: -0.3%
• Rents YoY: -0.4%
• Active inventory: 153
• Price-to-rent: 48.6×

Monthly cashflow live

• Estimated rent: $45,258 medium
• Mortgage (P&I): −$12,586
• Tax from tax record: −$1,096 /mo · $13,157/yr
• Insurance: −$1,000
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,504
• Net cashflow: $21,072

Break-even live

Break-even rent $18,585

Max offer price $2,400,000

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
▸ 11× units	9	11	$45,254
Total (11 units)			$45,258

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: $600,000
• Closing costs: $72,000
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-18
   status Pending
2. 2026-02-18
   listed $2,400,000 Active
3. 1980-04-23
   soldstatus $578,000

ⓘ 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: $13,157 · $1,096/mo
• Projected year-2 tax: $18,240 · $1,520/mo
• Expected delta: +$5,083/yr (+$424/mo · 38.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥85°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $543,096
• − Mortgage interest: −$134,437
• − Property taxes: −$13,157
• − Insurance: −$12,000
• − Repairs & maintenance: −$43,448
• − Management: −$43,448
• − Depreciation: −$69,818
• Taxable income: $226,788
• Est. tax owed @ 24.0%: −$54,429
• After-tax cash flow: $198,430/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): 46,508
• Household income: $103,894
• Rent vs Own: 75.9% rent · 24.1% own
• Severe rent burden: 4925.0

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 0.64)
• Race & ethnicity: White 54% Asian 21% Hispanic / Latino 15% Two or more races 10% Black 4%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Scotch-Irish 4% Italian 4% Lithuanian 3%
• Foreign-born: 32% · Canada, China, South Korea
• Languages at home: 61% English-only · Spanish 11% Other Indo-European 10% Chinese 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: ▼ -1.03%
• Current HPI: 312.7694
• Rent YoY: ▼ -0.39%
• 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

+315.2% since first listed

3 events — show timeline

• 2026-04-18 Pending — TheMLS
• 2026-02-18 Listed $2,400,000 TheMLS
• 1980-04-23 Sold (Public Records) $578,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $13,157 · +1.9% YoY. Source: county tax records.