727 Cornwell · Los Angeles, CA 90033

$925,000

6 bd · 8.0 ba · 4,684 sqft · MultiFamily public records · 138 Days on market

Built 1904 5,308 sqft lot Est $1438k · 36% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• 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

8 UNIT PROPERTY IN THE HEART OF LOS ANGELES NEAR KECK MEDICAL CENTER, CAL STATE LA, DOWNTOWN LA AND SO MUCH MORE. UPDATED ELECTRICAL PANELS. SEPERATE WATER AND GAS METERS, AND UPDATED WATER HEATERS. FEATURES 1 2BED/2BATH, 4 1 BED, 1 BATH UNITS, AND 3 STUDIO 1 BATH UNITS. GREAT OPPORUTNITY TO INVEST.

Key facts

• Near cal state la
• Separate gas meters
• Near downtown la

Tags

• NEAR KECK MEDICAL CENTER
• NEAR CAL STATE LA
• NEAR DOWNTOWN LA
• UPDATED ELECTRICAL PANELS
• SEPARATE WATER METERS
• SEPARATE GAS METERS

Property features AI

Finance

• Other: Total building area reported as 4,684; Total number of units: 8; Total number of stories: 2; No accessory dwelling unit
• Financial info: Gross scheduled income reported at $93,456; Net operating income reported at $82,656; Total operating expenses reported at $10,800 (breakdown includes fuel, trash, insurance, water/sewer, electric, pest control); Operating expense listed as $10,800; Rent control applies; Tenant pays: other (unspecified)
• HOA & community: Community features include sidewalks; Common interest: community apartment

Exterior

• Utilities: Public sewer; District/public water; Separate meters: 8 water meters, 8 gas meters, 8 electric meters; Single building on site
• Home design: Attached community apartment building; 2 stories
• Construction: Year built reported from public records
• Exterior features: No pool; Level-with-street lot

Interior

• Kitchen: No appliances listed
• Bedrooms: Multiple unit configurations: units include 2-bed and 1-bed layouts across the property
• Bathrooms: Combination of full bathrooms: some units have 2 full baths, others have 1 full bath
• Interior features: Raised entry (entry level 1)
• Laundry & utility: No on-site laundry listed

What this means for you Summary

Snapshot

• This is a 1×2bd/2ba + 7×1bd/1ba units multifamily listed at $925k.

Deal economics

• At list price, monthly cash flow is $6k ($76k/yr) — positive. Per door: $794/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $925k).
• Recommended offer: $814k (12.0% below list) — sets the bar for market timing.

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: Sheridan Street Elementary (544 students, 97% FRL); Hollenbeck Middle (1,007 students, 95% FRL); Theodore Roosevelt Senior High (math 17% / reading 37%, grade F, #788 of 1,170 statewide, top 69%, 1,528 students, 97% FRL) — zoned schools average 96% FRL vs 67% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 42% district-wide (-14 pts) — the specific schools serving this property underperform the Los Angeles Unified average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.3%/yr); 108 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $28k 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 $259k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($814k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 17y 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 $525k; list at $925k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — 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 $814,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% 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 1904 — 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: 1.68% ✓
• Cap rate: 14.54%
• Cash-on-cash: 29.45%
• DSCR: 2.31
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $1,437,988
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2466 Lancaster Ave	0.57mi	7/6.0 (+1)	4,009 (-14%)	1mo	$1,230,000	$307	35

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: 20.6%
• Equity multiple: 1.81×
• Total profit: $209,405
• Equity at exit: $137,921

10-year hold

• IRR: 26.8%
• Equity multiple: 3.04×
• Total profit: $527,744
• Equity at exit: $79,977

Cash invested: $259,000 (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 90033

• Home prices YoY: -29.9%
• Rents YoY: -2.3%
• Active inventory: 108
• Price-to-rent: 37.9×

Monthly cashflow live

• Estimated rent: $15,498 high
• Mortgage (P&I): −$4,851
• Tax from tax record: −$652 /mo · $7,820/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,255
• Net cashflow: $6,356

Break-even live

Break-even rent $7,453

Max offer price $925,000

Occupancy floor 54%

Sensitivity live

Price	-10% $6,879	-5% $6,617	+0% $6,356	+5% $6,094	+10% $5,832
Rent	-10% $5,131	-5% $5,743	+0% $6,356	+5% $6,968	+10% $7,580
Rate	-1.0pp $6,821	-0.5pp $6,591	base $6,356	+0.5pp $6,116	+1.0pp $5,872

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$2,033
▸ 7× units	1	1	$13,468
Total (8 units)			$15,498

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: $231,250
• Closing costs: $27,750
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $925,000 Active 138 DOM
2. 2026-06-18
   days on market $925,000 Active 135 DOM
3. 2026-06-17
   days on market $925,000 Active 134 DOM
4. 2026-06-16
   days on market $925,000 Active 133 DOM
5. 2026-06-15
   days on market $925,000 Active 132 DOM
6. 2026-06-13
   days on market $925,000 Active 130 DOM
7. 2026-06-09
   days on market $925,000 Active 126 DOM
8. 2026-06-08
   days on market $925,000 Active 125 DOM
9. 2026-06-07
   days on market $925,000 Active 124 DOM
10. 2026-06-04
    days on market $925,000 Active 121 DOM
11. 2026-06-03
    days on market $925,000 Active 120 DOM
12. 2026-06-02
    days on market $925,000 Active 119 DOM
13. 2026-06-01
    days on market $925,000 Active 118 DOM
14. 2026-05-31
    days on market $925,000 Active 117 DOM
15. 2026-05-18
    status Active
16. 2026-03-04
    status Pending Sale
17. 2026-02-23
    soldstatus Closed Sale
18. 2026-01-27
    status Pending Sale
19. 2025-10-13
    listed $925,000 Active
20. 2022-10-29
    historical
21. 2022-05-12
    status Active
22. 2022-04-02
    status Active
23. 2022-04-02
    price $1,300,000
24. 2022-03-02
    status Active
25. 2021-11-08
    status Active
26. 2021-10-29
    status Active
27. 2021-08-30
    listed $1,250,000 Active
28. 2015-09-02
    status Pending Sale
29. 2015-08-07
    historical Active Under Contract
30. 2015-08-02
    historical
31. 2015-08-02
    historical
32. 2015-07-29
    price $799,000
33. 2015-07-23
    price $829,000
34. 2015-07-10
    price $849,999
35. 2015-07-07
    status Active
36. 2015-07-06
    historical Active Under Contract
37. 2015-06-08
    listed $875,000 Active
38. 2015-06-08
    listed $799,000
39. 2012-10-01
    historical
40. 2012-08-21
    price $700,000
41. 2012-08-21
    price $690,000
42. 2012-06-15
    price $800,000
43. 2012-04-09
    listed $825,000 Active
44. 2010-01-18
    soldstatus $525,000 Closed
45. 2009-12-24
    soldstatus $525,000 Closed
46. 2009-12-22
    soldstatus $525,000
47. 2009-11-20
    status Pending
48. 2009-11-11
    status Pending
49. 2009-08-21
    listed $550,000 Active
50. 2009-08-20
    listed $550,000 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: $7,820 · $652/mo
• Projected year-2 tax: $7,820 · $652/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 ≥94°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $185,976
• − Mortgage interest: −$51,814
• − Property taxes: −$7,820
• − Insurance: −$4,625
• − Repairs & maintenance: −$14,878
• − Management: −$14,878
• − Depreciation: −$26,909
• Taxable income: $65,052
• Est. tax owed @ 24.0%: −$15,612
• After-tax cash flow: $60,654/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): 45,647
• Household income: $59,652
• Rent vs Own: 82.4% rent · 17.6% own
• Severe rent burden: 3159.0

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 (90%)
• Race & ethnicity: Hispanic / Latino 90% Two or more races 13% Asian 4% White 3% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 75%
• Foreign-born: 43% · Canada, South Korea, China
• Languages at home: 16% English-only · Spanish 80% Other Asian/Pacific 1% Korean 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: ▼ -201.59%
• Current HPI: 472.4588
• Rent YoY: ▼ -2.34%
• 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

+585.2% since first listed

37 events — show timeline

• 2026-05-18 Relisted — CRMLS
• 2026-03-04 Pending — CRMLS
• 2026-02-23 Sold (MLS) — CRMLS
• 2026-01-27 Pending — CRMLS
• 2025-10-13 Listed $925,000 CRMLS
• 2022-10-29 Listing Removed — CRMLS
• 2022-05-12 Relisted — CRMLS
• 2022-04-02 Relisted — CRMLS
• 2022-04-02 Price Changed $1,300,000 CRMLS
• 2022-03-02 Relisted — CRMLS
• 2021-11-08 Relisted — CRMLS
• 2021-10-29 Relisted — CRMLS
• 2021-08-30 Listed $1,250,000 CRMLS
• 2015-09-02 Pending — CRMLS
• 2015-08-07 Contingent — CRMLS
• 2015-08-02 Listing Removed — SDMLS
• 2015-08-02 Listing Removed — CRMLS
• 2015-07-29 Price Changed $799,000 CRMLS
• 2015-07-23 Price Changed $829,000 CRMLS
• 2015-07-10 Price Changed $849,999 CRMLS
• 2015-07-07 Relisted — CRMLS
• 2015-07-06 Contingent — CRMLS
• 2015-06-08 Listed $875,000 CRMLS
• 2015-06-08 Listed $799,000 SDMLS
• 2012-10-01 Listing Removed — CRMLS
• 2012-08-21 Price Changed $700,000 CRMLS
• 2012-08-21 Price Changed $690,000 CRMLS
• 2012-06-15 Price Changed $800,000 CRMLS
• 2012-04-09 Listed $825,000 CRMLS
• 2010-01-18 Sold (MLS) $525,000 CRMLS
• 2009-12-24 Sold (MLS) $525,000 TheMLS
• 2009-12-22 Sold (Public Records) $525,000 Public Records
• 2009-11-20 Pending — CRMLS
• 2009-11-11 Pending — TheMLS
• 2009-08-21 Listed $550,000 CRMLS
• 2009-08-20 Listed $550,000 TheMLS
• 1984-09-07 Sold (Public Records) $135,000 Public Records

Property tax history

+11.1%/yr

Latest (2017): $7,820 · +2.8% YoY. Source: county tax records.