1042 Wilcox Ave · Los Angeles, CA 90038

$3,600,000

1444 bd · 1444.0 ba · 9,880 sqft · MultiFamily · 63 Days on market

Built 1928 Poor condition 6,133 sqft lot $364/sqft · 17% above area Est $3070k · 17% over ↓ 32% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 38 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

1042 Wilcox Ave, a FULLY VACANT 38 unit apartment building located in the heart of Hollywood, a highly desirable neighborhood in Los Angeles, California. Cap rate and GRM are based on the post rennovation scheduled income of the property. The property offers flexibility to operate as a hotel or multifamily building, with potential for short-term rentals. Built in 1928, the property consists of (38) bachelor units. The building is 9,880 gross square feet and sits on a 6,131 square foot lot.

Key facts

• Heart of hollywood
• 6,133 sq ft lot
• Built 1928

Tags

• 38 UNIT APARTMENT BUILDING
• HEART OF HOLLYWOOD
• HIGHLY DESIRABLE NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 38 × 1-bed/1-bath units multifamily listed at $3.60M. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $26k ($307k/yr) — positive. Per door: $673/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($64k rent vs $3.60M).
• Recommended offer: $3.38M (6.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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-, crime F, cost of living 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.
• Zoned schools: Vine Street Elementary (251 students, 92% FRL); Hubert Howe Bancroft Middle (446 students, 92% FRL); Fairfax Senior High (math 40% / reading 61%, grade D+, #324 of 1,170 statewide, top 28%, 1,632 students, 81% FRL) — zoned schools average 89% FRL vs 67% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 88 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $63,861/mo this rent would consume 1247% of the median local household income ($61k/yr) (locally 4038% 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 $108k 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 + 0.7% rent growth), your $1.01M cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($3.38M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $3.03M; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $3,384,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.77% ✓
• Cap rate: 14.82%
• Cash-on-cash: 30.44%
• DSCR: 2.35
• GRM: 4.7

CMA / ARV

• ARV (median comp): $3,070,088
• List price: $3,600,000
• Delta: 17.26%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 22.5%
• Equity multiple: 1.89×
• Total profit: $899,948
• Equity at exit: $536,772

10-year hold

• IRR: 28.9%
• Equity multiple: 3.29×
• Total profit: $2,311,731
• Equity at exit: $311,262

Cash invested: $1,008,000 (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 90038

• Rents YoY: 0.7%
• Active inventory: 88
• Price-to-rent: 178.5×

Monthly cashflow live

• Estimated rent: $63,861 high
• Mortgage (P&I): −$18,879
• Tax est. 1.5%: −$4,500 /mo · $54,000/yr
• Insurance: −$1,500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$13,411
• Net cashflow: $25,571

Break-even live

Break-even rent $31,492

Max offer price $3,600,000

Occupancy floor 55%

Sensitivity live

Price	-10% $28,059	-5% $26,815	+0% $25,571	+5% $24,327	+10% $23,084
Rent	-10% $20,526	-5% $23,049	+0% $25,571	+5% $28,094	+10% $30,616
Rate	-1.0pp $27,384	-0.5pp $26,487	base $25,571	+0.5pp $24,639	+1.0pp $23,690

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

Units	Beds	Baths	Est. rent
▸ 38× units	1	1	$63,878
Total (38 units)			$63,861

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: $900,000
• Closing costs: $108,000
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-09
   days on market $3,600,000 Active 63 DOM
2. 2026-06-08
   days on market $3,600,000 Active 62 DOM
3. 2026-06-07
   days on market $3,600,000 Active 61 DOM
4. 2026-06-04
   days on market $3,600,000 Active 58 DOM
5. 2026-06-03
   days on market $3,600,000 Active 57 DOM
6. 2026-06-02
   days on market $3,600,000 Active 56 DOM
7. 2026-06-01
   days on market $3,600,000 Active 55 DOM
8. 2026-05-31
   days on market $3,600,000 Active 54 DOM
9. 2026-04-07
   listed $3,600,000 Active 494-char remark

   Show marketing remark (494 chars)

   1042 Wilcox Ave, a FULLY VACANT 38 unit apartment building located in the heart of Hollywood, a highly desirable neighborhood in Los Angeles, California. Cap rate and GRM are based on the post rennovation scheduled income of the property. The property offers flexibility to operate as a hotel or multifamily building, with potential for short-term rentals. Built in 1928, the property consists of (38) bachelor units. The building is 9,880 gross square feet and sits on a 6,131 square foot lot.

10. 2025-10-30
    listed Active
11. 2024-09-30
    soldstatus $3,030,000 Sold
12. 2024-08-07
    price $2,750,000
13. 2024-07-24
    historical Backup Offers Accepted
14. 2024-06-04
    price $4,100,000
15. 2024-05-14
    price $4,700,000
16. 2024-04-09
    listed $5,300,000 Active

ⓘ 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: $766,332
• − Mortgage interest: −$201,656
• − Property taxes: −$54,000
• − Insurance: −$18,000
• − Repairs & maintenance: −$61,307
• − Management: −$61,307
• − Depreciation: −$104,727
• Taxable income: $265,336
• Est. tax owed @ 24.0%: −$63,681
• After-tax cash flow: $243,176/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 · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation, including exterior siding, roof, flooring, and HVAC systems. Significant repairs and maintenance are needed to bring the property up to a livable condition.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — Visible signs of damage
• Major flooring — Worn and in need of replacement
• Major HVAC/mechanicals — No visible systems

Value-add opportunities

• Both exterior renovation — Enhances curb appeal and property value
• Both HVAC upgrade — Improves comfort and energy efficiency
• Both landscaping — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · Visible signs of damage	Major	$15,000–50,000
flooring · Worn and in need of replacement	Major	$15,000–50,000
HVAC/mechanicals · No visible systems	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both exterior renovation — Enhances curb appeal and property value ↑
• Both HVAC upgrade — Improves comfort and energy efficiency ↑
• Both landscaping — Enhances curb appeal and property 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): 27,127
• Household income: $61,454
• Rent vs Own: 91.8% rent · 8.2% own
• Severe rent burden: 4038.0

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 49% White 31% Two or more races 15% Asian 7% Black 7% Native American 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Romanian 2% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 39% · Canada, South Korea, Jamaica
• Languages at home: 44% English-only · Spanish 43% Other Indo-European 4% Tagalog/Filipino 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: ▼ -461.01%
• Current HPI: 349.1001
• Rent YoY: ▲ 0.67%
• 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

-32.1% since first listed

8 events — show timeline

• 2026-04-07 Listed $3,600,000 TheMLS
• 2025-10-30 Listed — TheMLS
• 2024-09-30 Sold (MLS) $3,030,000 TheMLS
• 2024-08-07 Price Changed $2,750,000 TheMLS
• 2024-07-24 Contingent — TheMLS
• 2024-06-04 Price Changed $4,100,000 TheMLS
• 2024-05-14 Price Changed $4,700,000 TheMLS
• 2024-04-09 Listed $5,300,000 TheMLS