4017 Gelber Pl · Los Angeles, CA 90008

$1,400,000

12 bd · 8.0 ba · 7,010 sqft · MultiFamily public records · 98 Days on market

Built 1956 8,439 sqft lot $200/sqft · 7% below area Est $1511k · 7% under

---

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 +27.2/30.0
• ARV discount +10.8/15.0
• DSCR +9.5/10.0
• 1% rule +6.3/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 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 MLS

Great opportunity to own an 8-unit property in Baldwin Hills with a 5% cap rate! The building sits on a 8,439 square-foot lot and features a balanced unit mix of four 2-bedroom, 1-bathroom units and four 1-bedroom, 1-bathroom units. Each unit includes carport parking, offering added convenience for tenants. This property presents a solid opportunity for investors seeking potential income in a desirable Los Angeles location. Also Recent upgrades to the following NEW Roof, Newer windows, Newer plumbing and New Electrical panel. Owner has done a wonderful job maintaining these 8 units.

Key facts

• 8,439 sq ft lot
• 6 parking spots
• Built 1956

What this means for you Summary

Snapshot

• This is a 4×2bd/1ba + 4×1bd/1ba units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive. Per door: $501/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.40M).
• Recommended offer: $1.27M (9.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 flat; 102 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $15,874/mo this rent would consume 308% of the median local household income ($62k/yr) (locally 4196% 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 $10k of loan paydown is wiped out by about $42k 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 98 days — a 9% lower offer ($1.27M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,274,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.13% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.27%
• DSCR: 1.55
• GRM: 7.3

CMA / ARV

• ARV (median comp): $1,511,074
• List price: $1,400,000
• Delta: -7.35%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3949 Hillcrest Dr #1	0.25mi	12/8.0	7,236 (+3%)	13mo	$1,425,000	$197	72

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 · 0.24% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-14,941
• Equity at exit: $208,745

10-year hold

• IRR: 5.7%
• Equity multiple: 1.38×
• Total profit: $147,247
• Equity at exit: $121,046

Cash invested: $392,000 (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 90008

• Rents YoY: 0.2%
• Active inventory: 102
• Price-to-rent: 55.9×

Monthly cashflow live

• Estimated rent: $15,874 high
• Mortgage (P&I): −$7,342
• Tax from tax record: −$607 /mo · $7,287/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,334
• Net cashflow: $4,008

Break-even live

Break-even rent $10,800

Max offer price $1,400,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,348
▸ 4× units	1	1	$7,524
Total (8 units)			$15,874

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: $350,000
• Closing costs: $42,000
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $1,400,000 Active 98 DOM
2. 2026-06-17
   days on market $1,400,000 Active 97 DOM
3. 2026-06-16
   days on market $1,400,000 Active 96 DOM
4. 2026-06-15
   days on market $1,400,000 Active 95 DOM
5. 2026-06-13
   days on market $1,400,000 Active 93 DOM
6. 2026-06-09
   days on market $1,400,000 Active 89 DOM
7. 2026-06-08
   days on market $1,400,000 Active 88 DOM
8. 2026-06-07
   days on market $1,400,000 Active 87 DOM
9. 2026-06-04
   days on market $1,400,000 Active 84 DOM
10. 2026-06-03
    days on market $1,400,000 Active 83 DOM
11. 2026-06-02
    days on market $1,400,000 Active 82 DOM
12. 2026-06-01
    days on market $1,400,000 Active 81 DOM
13. 2026-05-31
    days on market $1,400,000 Active 80 DOM
14. 2026-03-12
    listed $1,400,000 Active 589-char remark

    Show marketing remark (589 chars)

    Great opportunity to own an 8-unit property in Baldwin Hills with a 5% cap rate! The building sits on a 8,439 square-foot lot and features a balanced unit mix of four 2-bedroom, 1-bathroom units and four 1-bedroom, 1-bathroom units. Each unit includes carport parking, offering added convenience for tenants. This property presents a solid opportunity for investors seeking potential income in a desirable Los Angeles location. Also Recent upgrades to the following NEW Roof, Newer windows, Newer plumbing and New Electrical panel. Owner has done a wonderful job maintaining these 8 units.

ⓘ 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: $7,287 · $607/mo
• Projected year-2 tax: $10,640 · $887/mo
• Expected delta: +$3,353/yr (+$279/mo · 46.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥87°F today · 21 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: $190,488
• − Mortgage interest: −$78,422
• − Property taxes: −$7,287
• − Insurance: −$7,000
• − Repairs & maintenance: −$15,239
• − Management: −$15,239
• − Depreciation: −$40,727
• Taxable income: $26,574
• Est. tax owed @ 24.0%: −$6,378
• After-tax cash flow: $41,720/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): 33,252
• Household income: $61,846
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 4196.0

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 0.56)
• Race & ethnicity: Black 61% Hispanic / Latino 27% Two or more races 10% White 6% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 1% British 1%
• Foreign-born: 21% · Canada, South Korea
• Languages at home: 67% English-only · Spanish 25% French/Haitian/Cajun 2% Korean 2%

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: ▼ -944.46%
• Current HPI: 431.4967
• Rent YoY: ▲ 0.24%
• 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

• 2026-03-12 Listed $1,400,000 CRMLS

Property tax history

+1.8%/yr

Latest (2025): $7,287 · +2.2% YoY. Source: county tax records.