20910 Pacific Coast Hwy · Malibu, CA 90265

$2,895,000

2 bd · 2.0 ba · 1,514 sqft · MultiFamily public records · 26 Days on market

Built 1923 9,046 sqft lot

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.5/30.0
• Schools +6.2/10.0
• Appreciation +5.3/10.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• 1% rule +0.8/10.0
• DSCR +0.8/10.0

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

BEAUTIFUL, DEEP SANDY LAS FLORES BEACHFRONT PROPERTY. OLD MALIBU COTTAGE, ONE- OF-A-KIND WITH UNLIMITED POTENTIAL. BEST PRICED PROPERTY ON SANDY BEACH CLOSE TO TOWN.

Key facts

• 50 feet of frontage
• Beachfront parcel
• Planning approval

Tags

• BEACHFRONT PARCEL
• PLANNING APPROVAL
• 50 FEET OF FRONTAGE
• SHORT DRIVE TO SANTA MONICA

Property features AI

Finance

• Other: Disclosures: Coastal Zone, sold As Is

Exterior

• Utilities: Public/District water; Septic sewer; Cable available
• Home design: Residential land
• Construction: Lot size about 0.2077 acres
• Exterior features: Beach site; Beachfront / Oceanfront lot; Coastal Commission special zoning; Zoned MA-SF-M*

Interior

• Interior features: Ocean view

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $2.90M.

Deal economics

• At list price, monthly cash flow is $-5k ($-58k/yr) — negative.
• To cash-flow at today's rent, offer at most $2.03M (29.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.67M (42.3% below list).
• Recommended offer: $1.67M (42.3% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 0.7% in Malibu — 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 53/100 on livability (#979 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+; Watch: housing C-, crime F, amenities F.
• Santa Monica-Malibu Unified (urban): math 61% / reading 74% proficiency, ranked #123 of 1,400 in CA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Webster Elementary (214 students, 10% FRL).
• Market conditions: Rents falling (-3.4%/yr); 640 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).

Forward outlook

• In year one you build about $38k of equity ($20k loan paydown + $18k appreciation (0.6% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 5, paydown + projected appreciation supports a ~$185k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($2.85M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y 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 $1.79M; list at $2.90M implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,671,600 (42.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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?
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: 0.58% ✗
• Cap rate: 4.27%
• Cash-on-cash: -7.22%
• DSCR: 0.68
• GRM: 14.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.62% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.56×
• Total profit: $-359,964
• Equity at exit: $931,172

10-year hold

• IRR: -4.8%
• Equity multiple: 0.47×
• Total profit: $-427,767
• Equity at exit: $1,194,403

Cash invested: $810,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90265

• Home prices YoY: 0.1%
• Rents YoY: -3.4%
• Active inventory: 640
• Price-to-rent: 28.9×

Monthly cashflow live

• Estimated rent: $16,716 high
• Mortgage (P&I): −$15,182
• Tax from tax record: −$1,692 /mo · $20,310/yr
• Insurance: −$1,206
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,510
• Net cashflow: $-4,875

Break-even live

Break-even rent $22,887

Max offer price $2,033,849

Occupancy floor —

Sensitivity live

Price	-10% $-3,236	-5% $-4,055	+0% $-4,875	+5% $-5,694	+10% $-6,514
Rent	-10% $-6,195	-5% $-5,535	+0% $-4,875	+5% $-4,215	+10% $-3,554
Rate	-1.0pp $-3,417	-0.5pp $-4,138	base $-4,875	+0.5pp $-5,625	+1.0pp $-6,388

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$16,716
Total (2 units)			$16,716

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: $723,750
• Closing costs: $86,850
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20644 Pacific Coast Hwy Malibu, CA	3.0	1.0	1100	$7,300	$6.64	46d	1	0.31mi
3966 Las Flores Canyon Rd Malibu, CA	3.0	2.0	1450	$10,995	$7.58	46d	1	0.34mi
3908 Las Flores Canyon Rd Malibu, CA	3.0	2.0	1250	$9,995	$8.00	46d	1	0.41mi
20647 Seaboard Rd Malibu, CA	3.0	2.0	2092	$27,000	$12.91	46d	1	0.45mi
20645 Seaboard Rd Malibu, CA	3.0	2.0	1564	$12,500	$7.99	6d	1	0.49mi
20448 Pacific Coast Hwy Malibu, CA	3.0	3.0	1647	$22,500	$13.66	6d	1	0.55mi

Listing history 22 events

1. 2026-06-22
   days on market $2,895,000 Active 26 DOM
2. 2026-06-21
   days on market $2,895,000 Active 25 DOM
3. 2026-06-18
   days on market $2,895,000 Active 22 DOM
4. 2026-06-17
   days on market $2,895,000 Active 21 DOM
5. 2026-06-16
   days on market $2,895,000 Active 20 DOM
6. 2026-06-15
   remarks 411-char remark
7. 2026-06-15
   days on market $2,895,000 Active 19 DOM
8. 2026-06-13
   days on market $2,895,000 Active 17 DOM
9. 2026-06-13
   days on market $2,895,000 Active 16 DOM
10. 2026-06-09
    days on market $2,895,000 Active 13 DOM
11. 2026-06-08
    days on market $2,895,000 Active 12 DOM
12. 2026-06-07
    days on market $2,895,000 Active 11 DOM
13. 2026-06-04
    days on market $2,895,000 Active 8 DOM
14. 2026-06-03
    days on market $2,895,000 Active 7 DOM
15. 2026-06-02
    days on market $2,895,000 Active 6 DOM
16. 2026-06-01
    days on market $2,895,000 Active 5 DOM
17. 2026-05-31
    days on market $2,895,000 Active 4 DOM
18. 2026-05-27
    listed $2,895,000 Active
19. 2002-11-08
    soldstatus $1,795,000 165-char remark

    Show marketing remark (165 chars)

    BEAUTIFUL, DEEP SANDY LAS FLORES BEACHFRONT PROPERTY. OLD MALIBU COTTAGE, ONE- OF-A-KIND WITH UNLIMITED POTENTIAL. BEST PRICED PROPERTY ON SANDY BEACH CLOSE TO TOWN.

20. 2002-11-08
    soldstatus $1,795,000

    Show marketing remark (165 chars)

    BEAUTIFUL, DEEP SANDY LAS FLORES BEACHFRONT PROPERTY. OLD MALIBU COTTAGE, ONE- OF-A-KIND WITH UNLIMITED POTENTIAL. BEST PRICED PROPERTY ON SANDY BEACH CLOSE TO TOWN.

21. 2002-09-20
    historical 165-char remark

    Show marketing remark (165 chars)

    BEAUTIFUL, DEEP SANDY LAS FLORES BEACHFRONT PROPERTY. OLD MALIBU COTTAGE, ONE- OF-A-KIND WITH UNLIMITED POTENTIAL. BEST PRICED PROPERTY ON SANDY BEACH CLOSE TO TOWN.

22. 2002-08-28
    listed $1,795,000 165-char remark

    Show marketing remark (165 chars)

    BEAUTIFUL, DEEP SANDY LAS FLORES BEACHFRONT PROPERTY. OLD MALIBU COTTAGE, ONE- OF-A-KIND WITH UNLIMITED POTENTIAL. BEST PRICED PROPERTY ON SANDY BEACH CLOSE TO TOWN.

ⓘ 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: $20,310 · $1,692/mo
• Projected year-2 tax: $22,002 · $1,834/mo
• Expected delta: +$1,692/yr (+$141/mo · 8.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥82°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $200,592
• − Mortgage interest: −$162,165
• − Property taxes: −$20,310
• − Insurance: −$14,475
• − Repairs & maintenance: −$16,047
• − Management: −$16,047
• − Depreciation: −$84,218
• Taxable loss: −$112,671
• Est. tax savings @ 24.0%: +$27,041
• After-tax cash flow: $-31,456/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: Santa Monica-Malibu Unified
• NCES district ID: 0635700
• Math proficiency: 61% ▬ 0.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $81,489
• Composite: 61.58/100
• National rank: #1535
• State rank: #123 of 1400 in CA

Livability — Malibu

• Score: 53/100
• State rank: #979
• US rank: #24630

Category grades

Amenities F Commute F Cost of living F Crime F Employment A+ Housing C- Health & safety C+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Malibu, CA
• County: Los Angeles County · 9,444,647 people
• City population: 15,918
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 15,918
• Household income: $196,742
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 420.0

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 White (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 9% Asian 5% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 8% Scotch-Irish 3% Romanian 3%
• Foreign-born: 16% · Canada, South Korea, China
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 6% French/Haitian/Cajun 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: ▲ 0.62%
• Current HPI: 498.5117
• Rent YoY: ▼ -3.39%
• 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

+61.3% since first listed

5 events — show timeline

• 2026-05-27 Listed $2,895,000 TheMLS
• 2002-11-08 Sold (Public Records) $1,795,000 Public Records
• 2002-11-08 Sold (MLS) $1,795,000 TheMLS
• 2002-09-20 Delisted — TheMLS
• 2002-08-28 Listed $1,795,000 TheMLS

Property tax history

-0.7%/yr

Latest (2025): $20,310 · -33.0% YoY. Source: county tax records.