348 W Vernon Ave · Los Angeles, CA 90037

$775,000

9 bd · 12.0 ba · 2,940 sqft · MultiFamily · 44 Days on market

Built 1911 Fair condition 5,004 sqft lot $264/sqft · at area comps Est $773k · at est. ↓ 6% 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).

• Cash flow +20.4/30.0
• ARV discount +7.4/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Prime mixed-use investment opportunity located at 348 W Vernon Ave, Los Angeles. This versatile property features a street-level commercial storefront currently used as a retail space, plus three residential units, offering multiple income streams in a high-demand urban corridor. The commercial unit benefits from strong street exposure along Vernon Avenue, with a wide storefront window, security gate, and flexible interior layout ideal for retail, office, or service-oriented uses. Excellent visibility and signage potential enhance business appeal. The residential component consists of three separate units, including a combination of single-story and upper-level unit with private entrances.

Key facts

• Excellent visibility
• Signage potential
• Private entrances

Tags

• STRONG STREET EXPOSURE
• WIDE STOREFRONT WINDOW
• FLEXIBLE INTERIOR LAYOUT
• EXCELLENT VISIBILITY
• SIGNAGE POTENTIAL
• PRIVATE ENTRANCES

Property features AI

Finance

• Financial info: Four rental units total with individual rents reported: $822, $861, $1,008, $1,051; Each unit listed as a single unit type (one unit each); Actual rents equal listed total rents for each unit
• HOA & community: Property is under rent control

Exterior

• Utilities: Public sewer; District/public water; Three separate water meters; Three separate gas meters; Three separate electric meters
• Home design: Multi-unit property (4 total units) across 2 stories; No accessory dwelling unit reported; Street-facing entry
• Construction: Total building area approximately 2,940 (source: listing); Two separate buildings on the parcel; Built year source: Assessor
• Exterior features: No pool; Neighborhood has street lighting and sidewalks; Lot characterized as 2–5 units per acre

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Units with 1 bedroom each (all units are unfurnished)
• Bathrooms: Each unit has 1 full bathroom
• Interior features: Street-level entry; Two-level property
• Laundry & utility: No on-site laundry

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $775k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $336/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $775k).
• Recommended offer: $752k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 (+1.7%/yr); 99 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $8,056/mo this rent would consume 168% 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.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $23k 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.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($752k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $751,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1911 — 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: 1.04% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.58%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (median comp): $772,536
• List price: $775,000
• Delta: 0.32%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
730 W 52 Pl	0.73mi	10/4.0 (+1)	2,880 (-2%)	9mo	$925,000	$321	35
3834 Maple Ave	0.72mi	9/5.0	2,806 (-5%)	6mo	$777,000	$277	34
474 46TH	0.73mi	10/6.0 (+1)	3,359 (+14%)	17mo	$1,050,000	$313	8
602 W 53rd St	0.72mi	10/6.0 (+1)	3,321 (+13%)	21mo	$1,285,000	$387	7

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 · 1.69% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-71,719
• Equity at exit: $115,555

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-21,152
• Equity at exit: $67,008

Cash invested: $217,000 (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 90037

• Rents YoY: 1.7%
• Active inventory: 99
• Price-to-rent: 24.1×

Monthly cashflow live

• Estimated rent: $8,056 high
• Mortgage (P&I): −$4,064
• Tax est. 1.5%: −$969 /mo · $11,625/yr
• Insurance: −$323
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,692
• Net cashflow: $1,008

Break-even live

Break-even rent $6,780

Max offer price $775,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$8,055
Total (3 units)			$8,056

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: $193,750
• Closing costs: $23,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4501 S Budlong Ave Los Angeles, CA	10.0	4.0	3393	$9,995	$2.95	44d	1	0.93mi
1150 W 38th St Los Angeles, CA	3.0–19.0	3.0–18.5	4527	$11,312	$2.50	1d	9	1.29mi
4021 Halldale Ave Los Angeles, CA	9.0	4.0	2038	$7,500	$3.68	44d	1	1.37mi
1224 W 37th Pl Los Angeles, CA	9.0	9.0	1305	$1,048	$0.80	8d	1	1.40mi
1155 W 36th Pl Los Angeles, CA	6.0–8.0	4.0	3090	$1,450	$0.47	15d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $775,000 Active 44 DOM
2. 2026-06-17
   days on market $775,000 Active 43 DOM
3. 2026-06-16
   days on market $775,000 Active 42 DOM
4. 2026-06-15
   days on market $775,000 Active 41 DOM
5. 2026-06-13
   days on market $775,000 Active 39 DOM
6. 2026-06-09
   days on market $775,000 Active 35 DOM
7. 2026-06-08
   days on market $775,000 Active 34 DOM
8. 2026-06-07
   days on market $775,000 Active 33 DOM
9. 2026-06-04
   days on market $775,000 Active 30 DOM
10. 2026-06-03
    days on market $775,000 Active 29 DOM
11. 2026-06-02
    days on market $775,000 Active 28 DOM
12. 2026-06-01
    days on market $775,000 Active 27 DOM
13. 2026-05-31
    days on market $775,000 Active 26 DOM
14. 2026-05-05
    listed $775,000 Active 1572-char remark
15. 2026-04-30
    historical
16. 2025-12-22
    listed $821,000 Active

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

Taxation est. · year 1

• Rental income: $96,672
• − Mortgage interest: −$43,412
• − Property taxes: −$11,625
• − Insurance: −$3,875
• − Repairs & maintenance: −$7,734
• − Management: −$7,734
• − Depreciation: −$22,545
• Taxable loss: −$253
• Est. tax savings @ 24.0%: +$61
• After-tax cash flow: $12,161/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

The property is in fair condition with moderate rehab needed. It has a commercial storefront and three residential units, offering multiple income streams. Upgrades to the interior, landscaping, and HVAC can significantly increase its value.

Repairs flagged

• Minor Kitchen counters — Cluttered and need cleaning
• Minor Bathrooms — Cluttered and need cleaning

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the property.
• Both Clean and organize all areas — A clean and organized space is more appealing to potential buyers and renters.
• Both Landscaping and curb appeal — A well-maintained exterior can enhance the property's curb appeal and value.
• Both HVAC maintenance — A well-maintained HVAC system can improve comfort and energy efficiency, attracting more tenants and buyers.
• Both Replace countertops and flooring — Upgrading countertops and flooring can significantly increase the property's value and appeal to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen counters · Cluttered and need cleaning	Minor	$500–3,000
Bathrooms · Cluttered and need cleaning	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the property. ↑
• Both Clean and organize all areas — A clean and organized space is more appealing to potential buyers and renters. ↑
• Both Landscaping and curb appeal — A well-maintained exterior can enhance the property's curb appeal and value. ↑
• Both HVAC maintenance — A well-maintained HVAC system can improve comfort and energy efficiency, attracting more tenants and buyers. ↑
• Both Replace countertops and flooring — Upgrading countertops and flooring can significantly increase the property's value and appeal to potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 65,482
• Household income: $57,622
• Rent vs Own: 77.3% rent · 22.7% own
• Severe rent burden: 4200.0

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: Predominantly Hispanic (80%)
• Race & ethnicity: Hispanic / Latino 80% Two or more races 15% Black 15% Native American 3% White 2% Asian 1%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: British 1%
• Foreign-born: 44% · Canada, South Korea
• Languages at home: 23% English-only · Spanish 74% Korean 1% French/Haitian/Cajun 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: ▼ -639.09%
• Current HPI: 467.0371
• Rent YoY: ▲ 1.69%
• 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

-5.6% since first listed

3 events — show timeline

• 2026-05-05 Listed $775,000 CRMLS
• 2026-04-30 Listing Removed — CRMLS
• 2025-12-22 Listed $821,000 CRMLS