1431 W 24th St · Los Angeles, CA 90007

$1,545,000

4 bd · 4.0 ba · 4,320 sqft · MultiFamily public records · 27 Days on market

Built 1913 3,244 sqft lot Est $1482k · at est.

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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 +22.1/30.0
• DSCR +7.1/10.0
• ARV discount +5.6/15.0
• 1% rule +4.9/10.0
• 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 (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Savvy investors, don't miss this turnkey property with 7.8 cap 10.5 GRM performance. This historic Quadruplex is located a mile from USC Village, and has great access to USC transportation, the Metro Expo Line, freeways and City transportation. The units are attached with two downstairs and two upstairs, and each is about 1100 SF. Units have all been remodeled and updated and have 4 bedrooms and 2 baths for a total of 16 bedrooms and 8 baths. The units have tankless water heaters, central AC/heat, laundry machines, fully equipped kitchens and furnished common spaces. Each unit is separately metered for gas and electricity. Furnished bedrooms are rented primarily to students with furnished l

Key facts

• Metro expo line
• Central ac heat
• Historic quadruplex

Tags

• HISTORIC QUADRUPLEX
• METRO EXPO LINE
• TANKLESS WATER HEATERS
• CENTRAL AC HEAT
• LAUNDRY MACHINES
• FULLY EQUIPPED KITCHENS

Property features AI

Finance

• Other: Property sold As-Is; Company-owned furnishings included; tenant property excluded
• Financial info: Gross income: $159,900; Gross operating income: $151,905; Net operating income: $132,177; Total annual expenses: $26,723; Cap rate: 8.29%; Gross rent multiplier: 9.97; Vacancy rate: 5%; Rent details: Unit rents currently approx. $3,480, $3,500, $2,880, $3,500 (one of each unit)
• HOA & community: Four units in complex

Exterior

• Parking: On-street parking
• Security: Gated; Carbon monoxide detector(s); Smoke detector
• Utilities: Tankless water heater
• Home design: Residential income property (quadplex); Two-story; Attached; Faces south
• Construction: Has water heaters
• Exterior features: Lot approximately 0.0745 acres; No other detached structures

Interior

• Kitchen: Range/oven; Microwave; Refrigerator
• Bedrooms: Four 4-bed units (each unit has 4 bedrooms)
• Bathrooms: Each unit has 2 bathrooms
• Heating & cooling: Central heat (forced air); Central air conditioning
• Interior features: Attached building with two levels; Faces south; Gated entry; Carbon monoxide and smoke detectors
• Laundry & utility: Dryer; Tankless water heater

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/2.0-bath units multifamily listed at $1.54M.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $624/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.53M (1.0% below list).
• Recommended offer: $1.52M (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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); 82 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $15,299/mo this rent would consume 519% 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 $11k of loan paydown is wiped out by about $46k 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 $433k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($1.52M) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 27y 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.
• Current owner paid $540k; list at $1.54M implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — 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 $1,521,825 (1.5% below list)

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 1913 — 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: 0.99% ✗
• Cap rate: 8.23%
• Cash-on-cash: 6.92%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $1,481,760
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2656 Kenwood Ave	0.44mi	5/4.0 (+1)	3,786 (-12%)	8mo	$1,300,000	$343	47
2721 Raymond Ave	0.46mi	4/4.0	3,684 (-15%)	13mo	$1,000,000	$271	44

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: -2.8%
• Equity multiple: 0.89×
• Total profit: $-46,208
• Equity at exit: $230,365

10-year hold

• IRR: 9.7%
• Equity multiple: 1.84×
• Total profit: $361,252
• Equity at exit: $133,583

Cash invested: $432,600 (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: 82
• Price-to-rent: 33.7×

Monthly cashflow live

• Estimated rent: $15,299 high
• Mortgage (P&I): −$8,102
• Tax from tax record: −$844 /mo · $10,131/yr
• Insurance: −$644
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,213
• Net cashflow: $2,496

Break-even live

Break-even rent $12,139

Max offer price $1,545,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	2	$15,300
Total (4 units)			$15,299

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: $386,250
• Closing costs: $46,350
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2640 Menlo Ave Los Angeles, CA	2.0–9.0	2.0–7.5	2185	$5,629	$2.58	1d	2	0.30mi
2754 Kenwood Ave Los Angeles, CA	5.0	2.5	3502	$6,795	$1.94	43d	1	0.52mi
2317 Scarff St Unit B Los Angeles, CA	5.0	3.5	3000	$5,995	$2.00	43d	1	0.74mi
1347 Valencia St Unit 1347 Los Angeles, CA	4.0	8.0	3724	$2,499	$0.67	43d	1	1.11mi
2215 W 21st St Los Angeles, CA	4.0	3.0	3420	$6,500	$1.90	43d	1	1.14mi
1404 S Manhattan Pl Los Angeles, CA	5.0	2.0	3175	$5,900	$1.86	7d	1	1.23mi
1150 W 38th St Los Angeles, CA	3.0–19.0	3.0–18.5	4527	$4,969	$1.10	1d	9	1.25mi

Listing history 50 events

1. 2026-06-18
   days on market $1,545,000 Active 27 DOM
2. 2026-06-17
   pricedays on market $1,545,000 Active 26 DOM
3. 2026-06-16
   days on market $1,575,000 Active 25 DOM
4. 2026-06-15
   days on market $1,575,000 Active 24 DOM
5. 2026-06-13
   days on market $1,575,000 Active 22 DOM
6. 2026-06-09
   days on market $1,575,000 Active 18 DOM
7. 2026-06-08
   days on market $1,575,000 Active 17 DOM
8. 2026-06-07
   days on market $1,575,000 Active 16 DOM
9. 2026-06-04
   pricedays on market $1,575,000 Active 13 DOM
10. 2026-06-03
    days on market $1,595,000 Active 12 DOM
11. 2026-06-02
    days on market $1,595,000 Active 11 DOM
12. 2026-06-01
    days on market $1,595,000 Active 10 DOM
13. 2026-05-31
    days on market $1,595,000 Active 9 DOM
14. 2026-05-22
    listed $1,595,000 Active
15. 2026-04-24
    price
16. 2026-03-07
    listed Active
17. 2025-11-09
    historical $700
18. 2025-11-06
    listed Active
19. 2025-08-21
    price $700
20. 2025-07-04
    listed $800
21. 2025-01-28
    status Active
22. 2024-10-24
    price
23. 2024-10-07
    price
24. 2024-06-27
    listed Active
25. 2023-12-04
    historical $900
26. 2023-11-03
    listed $900
27. 2015-02-11
    soldstatus $540,000 Closed Sale
28. 2014-12-22
    status Pending Sale
29. 2014-12-11
    status Active
30. 2014-12-08
    status Pending Sale
31. 2014-11-26
    listed $515,000 Active
32. 2013-01-09
    price $97,000
33. 2013-01-09
    price $97,000
34. 2013-01-09
    price $97,000
35. 2013-01-09
    price $97,000
36. 2012-12-06
    historical Cancelled
37. 2012-12-04
    status Pending
38. 2012-11-14
    listed Active
39. 2010-08-11
    historical Withdrawn
40. 2010-05-14
    status Pending
41. 2010-04-30
    status Backup Offers Accepted
42. 2010-01-26
    price
43. 2010-01-19
    price
44. 2010-01-12
    price
45. 2010-01-09
    listed Active
46. 2006-06-02
    historical
47. 2006-01-09
    listed
48. 2004-09-14
    historical
49. 2004-09-02
    listed
50. 2001-06-27
    historical

ⓘ 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: $10,131 · $844/mo
• Projected year-2 tax: $11,742 · $978/mo
• Expected delta: +$1,611/yr (+$134/mo · 15.9%)

ⓘ 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: $183,588
• − Mortgage interest: −$86,544
• − Property taxes: −$10,131
• − Insurance: −$7,725
• − Repairs & maintenance: −$14,687
• − Management: −$14,687
• − Depreciation: −$44,945
• Taxable income: $4,869
• Est. tax owed @ 24.0%: −$1,168
• After-tax cash flow: $28,784/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

+776.4% since first listed

53 events — show timeline

• 2026-05-22 Listed $1,595,000 TheMLS
• 2026-04-24 Price Changed — TheMLS
• 2026-03-07 Listed — TheMLS
• 2025-11-09 Rental Removed $700 APPFOLIO
• 2025-11-06 Listed — TheMLS
• 2025-08-21 Price Changed $700 APPFOLIO
• 2025-07-04 Listed for Rent $800 APPFOLIO
• 2025-01-28 Relisted — TheMLS
• 2024-10-24 Price Changed — TheMLS
• 2024-10-07 Price Changed — TheMLS
• 2024-06-27 Listed — TheMLS
• 2023-12-04 Rental Removed $900 APPFOLIO
• 2023-11-03 Listed for Rent $900 APPFOLIO
• 2015-02-11 Sold (MLS) $540,000 CRMLS
• 2014-12-22 Pending — CRMLS
• 2014-12-11 Relisted — CRMLS
• 2014-12-08 Pending — CRMLS
• 2014-11-26 Listed $515,000 CRMLS
• 2013-01-09 Price Changed $97,000 CRMLS
• 2013-01-09 Price Changed $97,000 CRMLS
• 2013-01-09 Price Changed $97,000 CRMLS
• 2013-01-09 Price Changed $97,000 CRMLS
• 2012-12-06 Delisted — TheMLS
• 2012-12-04 Pending — TheMLS
• 2012-11-14 Listed — TheMLS
• 2010-08-11 Delisted — TheMLS
• 2010-05-14 Pending — TheMLS
• 2010-04-30 Pending — TheMLS
• 2010-01-26 Price Changed — TheMLS
• 2010-01-19 Price Changed — TheMLS
• 2010-01-12 Price Changed — TheMLS
• 2010-01-09 Listed — TheMLS
• 2006-06-02 Delisted — TheMLS
• 2006-01-09 Listed — TheMLS
• 2004-09-14 Delisted — TheMLS
• 2004-09-02 Listed — TheMLS
• 2001-06-27 Listing Removed — CRMLS
• 2001-06-20 Delisted — TheMLS
• 2001-06-07 Sold (MLS) $199,900 CRMLS
• 2001-06-06 Sold (Public Records) $200,000 Public Records
• 2001-04-20 Listing Removed — CRMLS
• 2001-02-27 Listed $205,000 CRMLS
• 2001-02-26 Listed $205,000 CRMLS
• 2001-02-20 Listed $205,000 CRMLS
• 2001-02-20 Listed — TheMLS
• 1999-11-16 Sold (Public Records) $160,000 Public Records
• 1999-11-16 Sold (MLS) $160,000 CRMLS
• 1999-11-09 Price Changed $205,000 CRMLS
• 1999-11-09 Price Changed $205,000 CRMLS
• 1999-11-09 Price Changed $205,000 CRMLS
• 1999-11-09 Price Changed $205,000 CRMLS
• 1999-09-10 Listed $172,000 CRMLS
• 1996-06-20 Sold (Public Records) $182,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $10,131 · +5.8% YoY. Source: county tax records.