3248 Eastern Ave · Los Angeles, CA 90032

$750,000

5 bd · 3.0 ba · 4,096 sqft · MultiFamily · 99 Days on market

Built 1962 Poor condition 3,527 sqft lot $183/sqft · 37% below area Est $1187k · 37% 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 +4.3/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Rare Mixed-Use Investment Opportunity – Approximately 4,000+ Sq Ft Offered for the first time in nearly 40 years, this unique mixed-use commercial and residential property presents an excellent opportunity for investors seeking a value-add asset with strong upside potential. The building consists of four total units, including two vacant commercial storefront units on the ground floor and two occupied residential units located above. The residential units include: • One 2-bedroom / 1-bath unit • One 1-bedroom / 1-bath unit The two commercial units: approximately 1,000 square feet each, providing flexibility for a variety of retail, office, or service-based businesses. Average commercial lease rates in the El Sereno area range from approximately $2.00–$3.00 per square foot, presenting a strong opportunity to establish new leases and increase income. The property is equipped with four separate electrical meters and one master water meter. While the building requires improvements and updating, it offers significant upside for investors looking to reposition the asset and capture higher rents. With a flexible mixed-use layout and strong demand for both residential and neighborhood commercial space, this property represents a compelling investment opportunity. The residential units are currently tenant-occupied, and the property will be sold with tenants in place, making it ideal for investors seeking immediate rental income with long-term growth potential. For additional information, including financials and lease details, please contact the listing agent.

Key facts

• 3,527 sq ft lot
• Garage
• Built 1962

Tags

• FLEXIBLE MIXED-USE LAYOUT
• TWO OCCUPIED RESIDENTIAL UNITS
• ONE MASTER WATER METER

🏷️ Possibly a rental listed for sale. The $750,000 price doesn't fit this home's estimated sale value (~$1,187,083) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $750k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $4k ($43k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $750k).
• Recommended offer: $682k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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 (+7.2%/yr); 153 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $11,090/mo this rent would consume 162% of the median local household income ($82k/yr) (locally 1522% 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 $22k 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 + 7.2% rent growth), your $210k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($682k) is reasonable based on typical stale-listing flexibility.

Recommended offer $682,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.48% ✓
• Cap rate: 12.02%
• Cash-on-cash: 20.45%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (median comp): $1,187,083
• List price: $750,000
• Delta: -36.82%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.21% rent growth · sell at horizon

5-year hold

• IRR: 17.4%
• Equity multiple: 1.74×
• Total profit: $155,487
• Equity at exit: $111,827

10-year hold

• IRR: 28.8%
• Equity multiple: 4.09×
• Total profit: $648,697
• Equity at exit: $64,846

Cash invested: $210,000 (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 90032

• Rents YoY: 7.2%
• Active inventory: 153
• Price-to-rent: 21.7×

Monthly cashflow live

• Estimated rent: $11,090 high
• Mortgage (P&I): −$3,933
• Tax est. 1.5%: −$938 /mo · $11,250/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,329
• Net cashflow: $3,578

Break-even live

Break-even rent $6,561

Max offer price $750,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$2,880
1× unit	1	1	$2,740
▸ 2× units	0	0	$5,470
Total (4 units)			$11,090

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4214 Barrett Rd Los Angeles, CA	4.0	3.0	2878	$5,500	$1.91	10d	1	1.06mi

Listing history 14 events

1. 2026-06-18
   days on market $750,000 Active 99 DOM
2. 2026-06-17
   days on market $750,000 Active 98 DOM
3. 2026-06-16
   days on market $750,000 Active 97 DOM
4. 2026-06-15
   days on market $750,000 Active 96 DOM
5. 2026-06-13
   days on market $750,000 Active 94 DOM
6. 2026-06-09
   days on market $750,000 Active 90 DOM
7. 2026-06-08
   days on market $750,000 Active 89 DOM
8. 2026-06-07
   days on market $750,000 Active 88 DOM
9. 2026-06-04
   days on market $750,000 Active 85 DOM
10. 2026-06-03
    days on market $750,000 Active 84 DOM
11. 2026-06-02
    days on market $750,000 Active 83 DOM
12. 2026-06-01
    days on market $750,000 Active 82 DOM
13. 2026-05-31
    days on market $750,000 Active 81 DOM
14. 2026-03-11
    listed $750,000 Active 1607-char remark

    Show marketing remark (1607 chars)

    Rare Mixed-Use Investment Opportunity – Approximately 4,000+ Sq Ft Offered for the first time in nearly 40 years, this unique mixed-use commercial and residential property presents an excellent opportunity for investors seeking a value-add asset with strong upside potential. The building consists of four total units, including two vacant commercial storefront units on the ground floor and two occupied residential units located above. The residential units include: • One 2-bedroom / 1-bath unit • One 1-bedroom / 1-bath unit The two commercial units: approximately 1,000 square feet each, providing flexibility for a variety of retail, office, or service-based businesses. Average commercial lease rates in the El Sereno area range from approximately $2.00–$3.00 per square foot, presenting a strong opportunity to establish new leases and increase income. The property is equipped with four separate electrical meters and one master water meter. While the building requires improvements and updating, it offers significant upside for investors looking to reposition the asset and capture higher rents. With a flexible mixed-use layout and strong demand for both residential and neighborhood commercial space, this property represents a compelling investment opportunity. The residential units are currently tenant-occupied, and the property will be sold with tenants in place, making it ideal for investors seeking immediate rental income with long-term growth potential. For additional information, including financials and lease details, please contact the listing agent.

ⓘ 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: $133,080
• − Mortgage interest: −$42,012
• − Property taxes: −$11,250
• − Insurance: −$3,750
• − Repairs & maintenance: −$10,646
• − Management: −$10,646
• − Depreciation: −$21,818
• Taxable income: $32,957
• Est. tax owed @ 24.0%: −$7,910
• After-tax cash flow: $35,026/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 · 13 photos

Poor 20/100 Extensive rehab

This mixed-use property requires extensive repairs and updates to improve its condition and value. The interior and exterior need significant attention, including cleaning, painting, and replacing worn-out materials.

Repairs flagged

• Major Exposed ductwork — Affects air quality and energy efficiency
• Major Dirty bathrooms — Needs cleaning and possibly new fixtures
• Major Peeling paint — Needs repainting
• Major Graffiti — Needs removal
• Major Dirty flooring — Needs cleaning and possibly new tiles
• Major Dirty interior walls/paint — Needs repainting
• Major Exposed HVAC ductwork — Needs encapsulation

Value-add opportunities

• Both Clean and repaint the interior — Improves appearance and value
• Both Install new flooring — Enhances aesthetics and value
• Both Install new HVAC ductwork — Improves air quality and energy efficiency
• Both Remove graffiti and paint over — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed ductwork · Affects air quality and energy efficiency	Major	$15,000–50,000
Dirty bathrooms · Needs cleaning and possibly new fixtures	Major	$15,000–50,000
Peeling paint · Needs repainting	Major	$15,000–50,000
Graffiti · Needs removal	Major	$15,000–50,000
Dirty flooring · Needs cleaning and possibly new tiles	Major	$15,000–50,000
Dirty interior walls/paint · Needs repainting	Major	$15,000–50,000
Exposed HVAC ductwork · Needs encapsulation	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both Clean and repaint the interior — Improves appearance and value ↑
• Both Install new flooring — Enhances aesthetics and value ↑
• Both Install new HVAC ductwork — Improves air quality and energy efficiency ↑
• Both Remove graffiti and paint over — Enhances curb appeal and value ↑

ⓘ 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): 43,117
• Household income: $82,292
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 1522.0

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 (74%)
• Race & ethnicity: Hispanic / Latino 74% Two or more races 19% Asian 12% White 10% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Iranian 1%
• Foreign-born: 36% · Canada, China, South Korea
• Languages at home: 33% English-only · Spanish 57% Chinese 6% Tagalog/Filipino 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: ▼ -1250.52%
• Current HPI: 507.2343
• Rent YoY: ▲ 7.21%
• 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

1 event — show timeline

• 2026-03-11 Listed $750,000 CRMLS