419 N Lake St · Los Angeles, CA 90026

$3,575,000

2 bd · 2.0 ba · 1,344 sqft · MultiFamily public records · 123 Days on market

Built 1924 0.28 ac lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

The offering consists of an entitled 95-unit ED1 project of income-restricted housing on a 12,011 (. 276ac) double-lot. The seller will deliver the project RTI (ready to issue) permits upon the close of escrow. Zoned LAR3-1VL, the project was granted six incentives/waivers including no maximum density. increased FAR, and decreased setbacks/open space as a result of the project's ED1 status. The project contemplates no subterranean parking, is 6 stories in height and offers a unit mix of studios and 1-bedrooms. Twenty at-grade parking spaces will be available to tenants along with 74 bicycle spaces and a roof deck lounge. Echo Park has witnessed significant multifamily development in recent years, driven by its increasing desirability and proximity to employment centers. The multifamily vacancy rate remained relatively low at around 5.4% in late 2024, pointing to consistent demand for rental units in this attractive and well-located neighborhood near major employment centers. Silver Lake is a key neighboring market to Echo Park, sharing a similar trajectory of artistic history, resulting in a strong and competitive multifamily market with high rental demand and increasing property values. Silver Lake is consistently one of the most desirable neighborhoods in Los Angeles, leading to very high demand for rental housing and correspondingly high rental rates. As of February 2025, average rents for apartments in Silver Lake were generally comparable to those in Echo Park, often exceeding $3,000 for a one-bedroom unit.

Key facts

• Bicycle spaces
• Zoned lar3-1vl
• Double-lot

Tags

• DOUBLE-LOT
• READY TO ISSUE PERMITS
• ZONED LAR3-1VL
• SIX STORIES IN HEIGHT
• AT-GRADE PARKING SPACES
• BICYCLE SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $3.58M.

Deal economics

• At list price, monthly cash flow is $157k ($1.88M/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($225k rent vs $3.58M).
• Recommended offer: $3.15M (12.0% below list) — sets the bar for market timing.
• Cap rate 58.9% 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 soft (-0.0%/yr); 190 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $224,878/mo this rent would consume 3090% of the median local household income ($87k/yr) (locally 4974% 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 $25k of loan paydown is wiped out by about $107k 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 + 0.0% rent growth), your $1.00M cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($3.15M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $3.58M implies a 23733% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $3,146,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 6.29% ✓
• Cap rate: 58.85%
• Cash-on-cash: 187.72%
• DSCR: 9.35
• GRM: 1.3

CMA / ARV

• ARV (median comp): $10,487,315,871
• List price: $3,575,000
• Delta: -99.97%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1309 N Coronado St	0.72mi	2/2.0	1,332 (-1%)	19mo	$1,104,172	$829	49
150 S Mountain View Ave	0.44mi	3/2.0 (+1)	1,441 (+7%)	19mo	$950,000	$659	46
2307 Reservoir St	0.68mi	2/3.0	1,470 (+9%)	9mo	$949,000	$646	41
230--230 1/2 N Alvarado St	0.74mi	2/2.0	1,178 (-12%)	16mo	$715,000	$607	32

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.73×
• Total profit: $8,736,072
• Equity at exit: $533,044

10-year hold

• IRR: —
• Equity multiple: 18.89×
• Total profit: $17,907,173
• Equity at exit: $309,101

Cash invested: $1,001,000 (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 90026

• Rents YoY: -0.0%
• Active inventory: 190
• Price-to-rent: 125.9×

Monthly cashflow live

• Estimated rent: $224,878 high
• Mortgage (P&I): −$18,748
• Tax from tax record: −$827 /mo · $9,926/yr
• Insurance: −$1,490
• HOA: −$0
• Vacancy / Maint / Mgmt: −$47,224
• Net cashflow: $156,589

Break-even live

Break-even rent $26,664

Max offer price $3,575,000

Occupancy floor 25%

Sensitivity live

Price	-10% $158,613	-5% $157,601	+0% $156,589	+5% $155,577	+10% $154,565
Rent	-10% $138,824	-5% $147,707	+0% $156,589	+5% $165,472	+10% $174,355
Rate	-1.0pp $158,390	-0.5pp $157,498	base $156,589	+0.5pp $155,663	+1.0pp $154,720

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

Units	Beds	Baths	Est. rent
▸ 95× units	0	0	$224,865
Total (95 units)			$224,878

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: $893,750
• Closing costs: $107,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2199 W Court St Los Angeles, CA	3.0	2.5	1428	$3,390	$2.37	45d	1	0.09mi
245 N Alvarado St Los Angeles, CA	2.0	1.0–2.0	710	$2,850	$4.01	9d	9	0.14mi
433 Rosenell Ter Los Angeles, CA	1.0–2.0	1.0–2.0	878	$2,810	$3.20	16d	48	0.15mi
216 Rosemont Ave Unit 1 Los Angeles, CA	2.0	1.0	900	$2,050	$2.28	13d	1	0.16mi
330 N Westlake Ave Los Angeles, CA	1.0–2.0	1.0–2.0	928	$3,771	$4.06	0d	8	0.18mi
146 1/2 Rosemont Ave Los Angeles, CA	3.0	2.0	1133	$3,295	$2.91	45d	1	0.21mi
449 1/2 W Sunset Blvd Los Angeles, CA	1.0	1.0	950	$2,995	$3.15	45d	1	0.22mi
132 Rosemont Ave Unit 301 Los Angeles, CA	2.0	2.5	1331	$3,650	$2.74	25d	1	0.24mi
132 Rosemont Ave Unit 302 Los Angeles, CA	3.0	2.5	1331	$3,895	$2.93	25d	1	0.24mi
132 Rosemont Ave Unit 302 Los Angeles, CA	3.0	2.5	1331	$3,895	$2.93	45d	1	0.24mi
132 Rosemont Ave Unit 101 Los Angeles, CA	2.0	2.0	896	$2,695	$3.01	45d	1	0.24mi
312 N Coronado St Los Angeles, CA	3.0	3.5	1432	$3,950	$2.76	45d	1	0.25mi
415 N Coronado St Unit 415 Coronado Los Angeles, CA	2.0	1.0	1050	$2,750	$2.62	45d	1	0.29mi
222 N Coronado St Los Angeles, CA	3.0	3.0	1502	$4,700	$3.13	45d	1	0.31mi
227 N Burlington Ave Unit 1 Los Angeles, CA	3.0	3.0	1456	$3,650	$2.51	25d	1	0.32mi
227 N Burlington Ave Unit 3 Los Angeles, CA	3.0	3.0	1068	$4,000	$3.75	45d	1	0.32mi
227 N Burlington Ave Los Angeles, CA	3.0	3.0	1456	$3,750	$2.58	18d	1	0.32mi
225 N Burlington Ave Los Angeles, CA	3.0	2.0	1163	$3,500	$3.01	9d	1	0.32mi
225 N Burlington Ave Unit 1-2 Los Angeles, CA	3.0	3.0	1060	$3,650	$3.44	25d	1	0.33mi
225 N Burlington Ave Unit 225 Los Angeles, CA	3.0	2.0	1163	$3,500	$3.01	25d	1	0.33mi
236 N Burlington Ave Los Angeles, CA	3.0	3.5	1089	$3,341	$3.07	0d	1	0.33mi
234 N Burlington Ave Unit 236 Los Angeles, CA	3.0	3.0	1089	$3,475	$3.19	16d	1	0.33mi
230 N Burlington Ave Unit A Los Angeles, CA	3.0	2.0	1000	$3,180	$3.18	45d	1	0.34mi
230 N Burlington Ave Los Angeles, CA	3.0	2.0	1350	$3,650	$2.70	45d	1	0.34mi
230 N Burlington Ave Unit 3/4 Los Angeles, CA	3.0	2.0	1000	$3,500	$3.50	19d	1	0.34mi
719 Coronado Ter Los Angeles, CA	3.0	1.5	1400	$3,800	$2.71	45d	1	0.36mi
255 N Union Ave Apt 6 Los Angeles, CA	2.0	1.0	947	$2,850	$3.01	12d	1	0.36mi
142 1/2 N Burlington Ave Los Angeles, CA	3.0	3.0	1060	$3,650	$3.44	9d	1	0.37mi
152 N Rampart Blvd Unit 202 Los Angeles, CA	1.0	2.0	924	$2,200	$2.38	12d	1	0.38mi
333 Belmont Ave Los Angeles, CA	3.0	1.0–2.0	813	$3,899	$4.79	9d	5	0.38mi
132 S Mountain View Ave Unit 132 Los Angeles, CA	3.0	2.0	1200	$2,825	$2.35	45d	1	0.39mi
132 S Mountain View Ave Unit 1325 Los Angeles, CA	3.0	2.0	1230	$2,795	$2.27	0d	1	0.39mi
200 S Park View St Los Angeles, CA	2.0	1.0	950	$2,800	$2.95	45d	1	0.40mi
1701 Clinton St #209 Los Angeles, CA	2.0	1.0	950	$3,000	$3.16	45d	1	0.40mi
1647 W Temple St Los Angeles, CA	1.0–2.0	1.0–2.0	791	$3,295	$4.17	4d	2	0.41mi
1008 Rosemont Ave Los Angeles, CA	1.0–2.0	1.0	900	$2,203	$2.45	22d	3	0.43mi
1800 Beverly Blvd Los Angeles, CA	2.0	1.0–2.0	763	$3,907	$5.12	3d	16	0.43mi
826 N Coronado St Unit 1/2 Los Angeles, CA	2.0	1.0	950	$2,975	$3.13	45d	1	0.44mi
134 S Coronado St Unit 136 1/2 Los Angeles, CA	3.0	2.0	1300	$3,150	$2.42	4d	1	0.46mi
236 S Carondelet St Los Angeles, CA	3.0	3.0	1400	$3,599	$2.57	16d	1	0.50mi

Listing history 16 events

1. 2026-06-21
   days on market $3,575,000 Active 123 DOM
2. 2026-06-18
   days on market $3,575,000 Active 120 DOM
3. 2026-06-17
   days on market $3,575,000 Active 119 DOM
4. 2026-06-16
   days on market $3,575,000 Active 118 DOM
5. 2026-06-15
   days on market $3,575,000 Active 117 DOM
6. 2026-06-13
   days on market $3,575,000 Active 115 DOM
7. 2026-06-09
   days on market $3,575,000 Active 111 DOM
8. 2026-06-08
   days on market $3,575,000 Active 110 DOM
9. 2026-06-07
   days on market $3,575,000 Active 109 DOM
10. 2026-06-04
    days on market $3,575,000 Active 106 DOM
11. 2026-06-03
    days on market $3,575,000 Active 105 DOM
12. 2026-06-02
    days on market $3,575,000 Active 104 DOM
13. 2026-06-01
    days on market $3,575,000 Active 103 DOM
14. 2026-05-31
    days on market $3,575,000 Active 102 DOM
15. 2026-02-10
    listed $3,575,000 Active 1537-char remark

    Show marketing remark (1537 chars)

    The offering consists of an entitled 95-unit ED1 project of income-restricted housing on a 12,011 (. 276ac) double-lot. The seller will deliver the project RTI (ready to issue) permits upon the close of escrow. Zoned LAR3-1VL, the project was granted six incentives/waivers including no maximum density. increased FAR, and decreased setbacks/open space as a result of the project's ED1 status. The project contemplates no subterranean parking, is 6 stories in height and offers a unit mix of studios and 1-bedrooms. Twenty at-grade parking spaces will be available to tenants along with 74 bicycle spaces and a roof deck lounge. Echo Park has witnessed significant multifamily development in recent years, driven by its increasing desirability and proximity to employment centers. The multifamily vacancy rate remained relatively low at around 5.4% in late 2024, pointing to consistent demand for rental units in this attractive and well-located neighborhood near major employment centers. Silver Lake is a key neighboring market to Echo Park, sharing a similar trajectory of artistic history, resulting in a strong and competitive multifamily market with high rental demand and increasing property values. Silver Lake is consistently one of the most desirable neighborhoods in Los Angeles, leading to very high demand for rental housing and correspondingly high rental rates. As of February 2025, average rents for apartments in Silver Lake were generally comparable to those in Echo Park, often exceeding $3,000 for a one-bedroom unit.

16. 1967-10-13
    soldstatus $15,000

ⓘ 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: $9,926 · $827/mo
• Projected year-2 tax: $27,170 · $2,264/mo
• Expected delta: +$17,244/yr (+$1,437/mo · 173.7%)

ⓘ 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 ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $2,698,536
• − Mortgage interest: −$200,256
• − Property taxes: −$9,926
• − Insurance: −$17,875
• − Repairs & maintenance: −$215,883
• − Management: −$215,883
• − Depreciation: −$104,000
• Taxable income: $1,934,714
• Est. tax owed @ 24.0%: −$464,331
• After-tax cash flow: $1,414,739/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): 62,692
• Household income: $87,334
• Rent vs Own: 76.5% rent · 23.5% own
• Severe rent burden: 4974.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 46% White 31% Asian 13% Two or more races 13% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Lithuanian 2% Italian 2% Romanian 1%
• Foreign-born: 34% · Canada, China, South Korea
• Languages at home: 47% English-only · Spanish 39% Tagalog/Filipino 5% Chinese 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: ▼ -1087.70%
• Current HPI: 456.3465
• Rent YoY: ▬ -0.01%
• 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

+23733.3% since first listed

2 events — show timeline

• 2026-02-10 Listed $3,575,000 TheMLS
• 1967-10-13 Sold (Public Records) $15,000 Public Records

Property tax history

+15.7%/yr

Latest (2025): $9,926 · +806.2% YoY. Source: county tax records.