1501 S Ardmore Ave · Los Angeles, CA 90006

$995,000

4 bd · 4.0 ba · 4,312 sqft · MultiFamily public records · 47 Days on market

Built 1922 7,052 sqft lot $231/sqft · 22% below area Est $1275k · 22% under

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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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.6/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Appreciation +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0

Multi-family units

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

Listing remarks

CHANCE TO OWN A FOURPLEX INVESTMENT IN THE HEART OF LOS ANGELES. Welcome to 1501 S. Ardmore Avenue! A gated fourplex , spanning 4,312 square feet, ideally situated on a generous 7,050-square-foot corner lot between Pico and Venice Boulevards. This rare offering combines classic Los Angeles charm with significant income potential and value-add opportunities. The property features four spacious 1-bedroom, 1-bathroom units (approximately over 1,000 sf each), designed with a formal dining room, in-unit laundry hook-ups, and dedicated garage parking. The two-story layout ensures maximum privacy and comfort for all occupants. Additional highlights include a detached four-car garage and a large f

Key facts

• Gated fourplex
• Fourplex investment
• Corner lot

Tags

• FOURPLEX INVESTMENT
• GATED FOURPLEX
• CORNER LOT
• DETACHED FOUR-CAR GARAGE
• LARGE FENCED BACKYARD
• TENANT-OCCUPIED

Property features AI

Finance

• Other: Scheduled rent status: Scheduled
• Financial info: Gross operating income approximately $52,728; Net operating income approximately $38,096; Total annual expenses approximately $14,632; Gross rent multiplier about 23; Mixed actual and projected rents across units
• HOA & community: Four units in the complex

Exterior

• Parking: Detached garage with space for 4+ cars; Four covered parking spaces
• Security: Gated entry
• Utilities: Owner pays water; Tenants pay trash, cable TV, and gas
• Home design: Residential income property; Two total floors (multi-level)
• Construction: Not specified
• Exterior features: Gated property; Other on-site structures

Interior

• Kitchen: Gas oven/range
• Bedrooms: Multiple 1-bedroom units (four 1-bed units total)
• Flooring: Linoleum floors
• Bathrooms: Each unit with one bathroom
• Heating & cooling: Wall heat; Air conditioning
• Interior features: Ceiling fan; Wall heating; A/C
• Laundry & utility: No on-site laundry

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $995k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $294/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 $957k (3.8% below list).
• Recommended offer: $957k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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 soft (-0.8%/yr); 165 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 $9,572/mo this rent would consume 221% of the median local household income ($52k/yr) (locally 5727% 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 $7k of loan paydown is wiped out by about $30k 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 47 days — a 3% lower offer ($965k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 15y ago; this cycle's ask has dropped $474k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $570k; list at $995k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — 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 $957,200 (3.8% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 4% 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 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.96% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.07%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (median comp): $1,275,163
• List price: $995,000
• Delta: -21.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1205 S Mariposa Ave	0.32mi	4/10.0	4,380 (+2%)	11mo	$1,475,000	$337	54
1329 S New Hampshire Ave	0.59mi	4/4.0	3,968 (-8%)	20mo	$630,000	$159	42
1232 S Kenmore Ave	0.40mi	5/5.0 (+1)	3,828 (-11%)	16mo	$850,000	$222	40

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: -11.7%
• Equity multiple: 0.59×
• Total profit: $-114,542
• Equity at exit: $148,358

10-year hold

• IRR: -7.3%
• Equity multiple: 0.60×
• Total profit: $-112,343
• Equity at exit: $86,029

Cash invested: $278,600 (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 90006

• Home prices YoY: -1.2%
• Rents YoY: -0.8%
• Active inventory: 165
• Price-to-rent: 34.7×

Monthly cashflow live

• Estimated rent: $9,572 high
• Mortgage (P&I): −$5,218
• Tax from tax record: −$753 /mo · $9,041/yr
• Insurance: −$415
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,010
• Net cashflow: $1,176

Break-even live

Break-even rent $8,083

Max offer price $995,000

Occupancy floor 83%

Sensitivity live

Price	-10% $1,739	-5% $1,458	+0% $1,176	+5% $894	+10% $613
Rent	-10% $420	-5% $798	+0% $1,176	+5% $1,554	+10% $1,932
Rate	-1.0pp $1,677	-0.5pp $1,429	base $1,176	+0.5pp $918	+1.0pp $656

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$9,572
Total (4 units)			$9,572

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: $248,750
• Closing costs: $29,850
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1404 S Manhattan Pl Los Angeles, CA	5.0	2.0	3175	$5,900	$1.86	8d	1	0.40mi
2215 W 21st St Los Angeles, CA	4.0	3.0	3420	$6,500	$1.90	44d	1	0.73mi
2754 Kenwood Ave Los Angeles, CA	5.0	2.5	3502	$6,795	$1.94	44d	1	1.11mi
2640 Menlo Ave Los Angeles, CA	2.0–9.0	2.0–7.5	2185	$5,629	$2.58	0d	2	1.19mi
695 S Vermont Ave Los Angeles, CA	3.0	1.0–3.0	6378	$5,167	$0.81	21d	29	1.23mi
2404 5th Ave Los Angeles, CA	4.0	2.0	4636	$4,100	$0.88	44d	1	1.29mi
4121 Wilshire Blvd Los Angeles, CA	4.0	4.5	3090	$25,000	$8.09	0d	1	1.43mi
727 Crenshaw Blvd Los Angeles, CA	3.0	2.5	3200	$6,000	$1.88	21d	1	1.44mi
642 Bronson Ave Unit 207 Los Angeles, CA	4.0	5.0	3000	$13,500	$4.50	44d	1	1.44mi

Listing history 41 events

1. 2026-06-17
   days on market $995,000 Active 47 DOM
2. 2026-06-16
   days on market $995,000 Active 46 DOM
3. 2026-06-15
   days on market $995,000 Active 45 DOM
4. 2026-06-13
   days on market $995,000 Active 43 DOM
5. 2026-06-09
   days on market $995,000 Active 39 DOM
6. 2026-06-08
   days on market $995,000 Active 38 DOM
7. 2026-06-07
   days on market $995,000 Active 37 DOM
8. 2026-06-04
   days on market $995,000 Active 34 DOM
9. 2026-06-03
   days on market $995,000 Active 33 DOM
10. 2026-06-02
    days on market $995,000 Active 32 DOM
11. 2026-06-01
    days on market $995,000 Active 31 DOM
12. 2026-05-31
    days on market $995,000 Active 30 DOM
13. 2026-05-07
    price $1,150,000 1432-char remark
14. 2026-05-01
    listed $1,200,000 Active 1432-char remark
15. 2026-03-31
    historical
16. 2026-02-02
    listed $1,469,000 Active
17. 2025-10-28
    historical
18. 2025-10-28
    historical
19. 2025-03-17
    historical
20. 2025-01-10
    listed $999,888 Active
21. 2025-01-04
    historical
22. 2024-12-04
    price $1,100,000
23. 2024-09-18
    listed $1,295,000 Active
24. 2023-04-30
    historical
25. 2023-04-26
    status Active
26. 2023-03-30
    listed $1,100,000 Active
27. 2023-03-29
    historical
28. 2022-12-31
    historical
29. 2022-12-31
    historical
30. 2022-09-25
    listed $1,250,000 Active
31. 2022-09-25
    listed $1,250,000 Active
32. 2022-09-24
    historical
33. 2022-09-24
    historical
34. 2012-12-31
    soldstatus $570,000 Closed
35. 2012-12-31
    soldstatus $570,000
36. 2012-11-30
    status Backup Offers Accepted
37. 2012-11-19
    status Pending
38. 2012-05-03
    listed $675,000 Active
39. 2011-12-01
    historical
40. 2011-06-07
    price $589,000
41. 2011-06-02
    listed $569,000 Active

ⓘ 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: $9,041 · $753/mo
• Projected year-2 tax: $9,041 · $753/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥90°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: $114,864
• − Mortgage interest: −$55,735
• − Property taxes: −$9,041
• − Insurance: −$4,975
• − Repairs & maintenance: −$9,189
• − Management: −$9,189
• − Depreciation: −$28,945
• Taxable loss: −$2,211
• Est. tax savings @ 24.0%: +$531
• After-tax cash flow: $14,643/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): 55,527
• Household income: $51,998
• Rent vs Own: 90.3% rent · 9.7% own
• Severe rent burden: 5727.0

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 (71%)
• Race & ethnicity: Hispanic / Latino 71% Asian 19% Two or more races 15% White 5% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 54% · Canada, South Korea, China
• Languages at home: 16% English-only · Spanish 65% Korean 13% 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: ▼ -4.73%
• Current HPI: 389.2079
• Rent YoY: ▼ -0.80%
• 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

+158.2% since first listed

30 events — show timeline

• 2026-05-22 Price Changed — TheMLS
• 2026-05-07 Price Changed — TheMLS
• 2026-05-01 Listed — TheMLS
• 2026-03-31 Listing Removed — CRMLS
• 2026-02-02 Listed $1,469,000 CRMLS
• 2025-10-28 Listing Removed — CRMLS
• 2025-10-28 Coming Soon — CRMLS
• 2025-03-17 Listing Removed — CRMLS
• 2025-01-10 Listed $999,888 CRMLS
• 2025-01-04 Listing Removed — CRMLS
• 2024-12-04 Price Changed $1,100,000 CRMLS
• 2024-09-18 Listed $1,295,000 CRMLS
• 2023-04-30 Listing Removed — CRMLS
• 2023-04-26 Relisted — CRMLS
• 2023-03-30 Listed $1,100,000 CRMLS
• 2023-03-29 Coming Soon — CRMLS
• 2022-12-31 Listing Removed — CRMLS
• 2022-12-31 Listing Removed — CRMLS
• 2022-09-25 Listed $1,250,000 CRMLS
• 2022-09-25 Listed $1,250,000 CRMLS
• 2022-09-24 Coming Soon — CRMLS
• 2022-09-24 Coming Soon — CRMLS
• 2012-12-31 Sold (Public Records) $570,000 Public Records
• 2012-12-31 Sold (MLS) $570,000 CRMLS
• 2012-11-30 Pending — CRMLS
• 2012-11-19 Pending — CRMLS
• 2012-05-03 Listed $675,000 CRMLS
• 2011-12-01 Listing Removed — CRMLS
• 2011-06-07 Price Changed $589,000 CRMLS
• 2011-06-02 Listed $569,000 CRMLS

Property tax history

+13.8%/yr

Latest (2025): $9,041 · +1.1% YoY. Source: county tax records.