2949 S Harcourt Ave · Los Angeles, CA 90016

$1,399,000

24 bd · 16.0 ba · 2,595 sqft · MultiFamily public records · 18 Days on market

Built 1924 10,538 sqft lot $539/sqft · 22% above area Est $1142k · 22% over

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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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +6.4/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

HUGE PRICE REDUCTION, Exceptional investment opportunity featuring four units for sale situated on an expansive 10,538 sq ft lot with significant upside potential. This well-positioned property offers ample space and flexibility, making it ideal for investors, developers, or owner-users seeking long-term growth. The oversized lot presents excellent potential for future expansion, redevelopment, or additional improvements (buyer to verify with local authorities). A gated, large detached garage at the rear of the property provides secure parking, storage, or possible ADU conversion potential. One or more units can be delivered vacant, offering immediate flexibility for owner occupancy or market-rate leasing. With strong rental potential and land value appreciation, this property combines stable income with future development possibilities. A rare opportunity to acquire a multi-unit property with land, flexibility, upside in one package.

Key facts

• Rear yard space
• Four units
• Gated yard

Tags

• CORNER LOT
• GATED YARD
• FOUR UNITS
• VACANT UNIT
• VACANT GARAGES
• REAR YARD SPACE

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.40M).
• Recommended offer: $1.38M (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: Virginia Road Elementary (214 students, 94% FRL); Johnnie Cochran Jr. Middle (545 students, 99% FRL); Valley Academy of Arts And Sciences (math 22% / reading 52%, grade F, #578 of 1,170 statewide, top 51%, 868 students, 64% FRL) — zoned schools average 86% FRL vs 67% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.1%/yr); 150 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $15,949/mo this rent would consume 260% of the median local household income ($74k/yr) (locally 3450% 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 $10k of loan paydown is wiped out by about $42k 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 18 days — a 2% lower offer ($1.38M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 30y ago; this cycle's ask has dropped $601k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $205k; list at $1.40M implies a 582% 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 $1,378,015 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.14% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.25%
• DSCR: 1.59
• GRM: 7.3

CMA / ARV

• ARV (median comp): $1,142,500
• List price: $1,399,000
• Delta: 31.28%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.12% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $18,534
• Equity at exit: $208,595

10-year hold

• IRR: 9.1%
• Equity multiple: 1.64×
• Total profit: $251,321
• Equity at exit: $120,960

Cash invested: $391,720 (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 90016

• Rents YoY: 1.1%
• Active inventory: 150
• Price-to-rent: 29.2×

Monthly cashflow live

• Estimated rent: $15,949 medium
• Mortgage (P&I): −$7,337
• Tax from tax record: −$355 /mo · $4,263/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,349
• Net cashflow: $4,325

Break-even live

Break-even rent $10,474

Max offer price $1,399,000

Occupancy floor 68%

Sensitivity live

Price	-10% $5,117	-5% $4,721	+0% $4,325	+5% $3,929	+10% $3,533
Rent	-10% $3,065	-5% $3,695	+0% $4,325	+5% $4,955	+10% $5,585
Rate	-1.0pp $5,030	-0.5pp $4,681	base $4,325	+0.5pp $3,963	+1.0pp $3,594

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$15,948
Total (4 units)			$15,949

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: $349,750
• Closing costs: $41,970
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $1,399,000 Active 18 DOM
2. 2026-06-18
   days on market $1,399,000 Active 15 DOM
3. 2026-06-17
   days on market $1,399,000 Active 14 DOM
4. 2026-06-16
   days on market $1,399,000 Active 13 DOM
5. 2026-06-15
   days on market $1,399,000 Active 12 DOM
6. 2026-06-13
   days on market $1,399,000 Active 10 DOM
7. 2026-06-09
   days on market $1,399,000 Active 6 DOM
8. 2026-06-08
   days on market $1,399,000 Active 5 DOM
9. 2026-06-07
   days on market $1,399,000 Active 4 DOM
10. 2026-06-04
    pricedays on marketlisting id $1,399,000 Active 1 DOM
11. 2026-04-17
    price $1,499,900 948-char remark

    Show marketing remark (948 chars)

    HUGE PRICE REDUCTION, Exceptional investment opportunity featuring four units for sale situated on an expansive 10,538 sq ft lot with significant upside potential. This well-positioned property offers ample space and flexibility, making it ideal for investors, developers, or owner-users seeking long-term growth. The oversized lot presents excellent potential for future expansion, redevelopment, or additional improvements (buyer to verify with local authorities). A gated, large detached garage at the rear of the property provides secure parking, storage, or possible ADU conversion potential. One or more units can be delivered vacant, offering immediate flexibility for owner occupancy or market-rate leasing. With strong rental potential and land value appreciation, this property combines stable income with future development possibilities. A rare opportunity to acquire a multi-unit property with land, flexibility, upside in one package.

12. 2026-02-21
    price $1,800,000 948-char remark

    Show marketing remark (948 chars)

    HUGE PRICE REDUCTION, Exceptional investment opportunity featuring four units for sale situated on an expansive 10,538 sq ft lot with significant upside potential. This well-positioned property offers ample space and flexibility, making it ideal for investors, developers, or owner-users seeking long-term growth. The oversized lot presents excellent potential for future expansion, redevelopment, or additional improvements (buyer to verify with local authorities). A gated, large detached garage at the rear of the property provides secure parking, storage, or possible ADU conversion potential. One or more units can be delivered vacant, offering immediate flexibility for owner occupancy or market-rate leasing. With strong rental potential and land value appreciation, this property combines stable income with future development possibilities. A rare opportunity to acquire a multi-unit property with land, flexibility, upside in one package.

13. 2026-02-04
    listed $2,000,000 Active 948-char remark

    Show marketing remark (948 chars)

    HUGE PRICE REDUCTION, Exceptional investment opportunity featuring four units for sale situated on an expansive 10,538 sq ft lot with significant upside potential. This well-positioned property offers ample space and flexibility, making it ideal for investors, developers, or owner-users seeking long-term growth. The oversized lot presents excellent potential for future expansion, redevelopment, or additional improvements (buyer to verify with local authorities). A gated, large detached garage at the rear of the property provides secure parking, storage, or possible ADU conversion potential. One or more units can be delivered vacant, offering immediate flexibility for owner occupancy or market-rate leasing. With strong rental potential and land value appreciation, this property combines stable income with future development possibilities. A rare opportunity to acquire a multi-unit property with land, flexibility, upside in one package.

14. 2025-08-31
    historical
15. 2025-06-21
    price $1,499,000
16. 2025-05-22
    listed $1,499,500 Active
17. 2025-04-18
    historical
18. 2025-04-08
    listed $2,495,000 Active
19. 2000-12-26
    soldstatus $205,000
20. 2000-02-24
    soldstatus $205,000
21. 1999-01-23
    historical
22. 1998-10-23
    historical
23. 1998-04-22
    listed
24. 1997-09-24
    listed $205,000
25. 1997-08-09
    historical
26. 1996-10-16
    listed

ⓘ 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: $4,263 · $355/mo
• Projected year-2 tax: $10,632 · $886/mo
• Expected delta: +$6,369/yr (+$531/mo · 149.4%)

ⓘ 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 ≥88°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $191,388
• − Mortgage interest: −$78,366
• − Property taxes: −$4,263
• − Insurance: −$6,995
• − Repairs & maintenance: −$15,311
• − Management: −$15,311
• − Depreciation: −$40,698
• Taxable income: $30,444
• Est. tax owed @ 24.0%: −$7,307
• After-tax cash flow: $44,594/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): 46,457
• Household income: $73,516
• Rent vs Own: 65.1% rent · 34.9% own
• Severe rent burden: 3450.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 52% Black 27% Two or more races 18% White 12% Asian 4%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: British 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 30% · Canada, South Korea, China
• Languages at home: 47% English-only · Spanish 47% French/Haitian/Cajun 1% Chinese 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: ▼ -991.94%
• Current HPI: 584.0673
• Rent YoY: ▲ 1.12%
• 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

+631.7% since first listed

16 events — show timeline

• 2026-04-17 Price Changed $1,499,900 CRMLS
• 2026-02-21 Price Changed $1,800,000 CRMLS
• 2026-02-04 Listed $2,000,000 CRMLS
• 2025-08-31 Listing Removed — CRMLS
• 2025-06-21 Price Changed $1,499,000 CRMLS
• 2025-05-22 Listed $1,499,500 CRMLS
• 2025-04-18 Listing Removed — CRMLS
• 2025-04-08 Listed $2,495,000 CRMLS
• 2000-12-26 Sold (Public Records) $205,000 Public Records
• 2000-02-24 Sold (Public Records) $205,000 Public Records
• 1999-01-23 Delisted — TheMLS
• 1998-10-23 Listing Removed — CRMLS
• 1998-04-22 Listed — TheMLS
• 1997-09-24 Listed $205,000 CRMLS
• 1997-08-09 Delisted — TheMLS
• 1996-10-16 Listed — TheMLS

Property tax history

+1.8%/yr

Latest (2025): $4,263 · +1.3% YoY. Source: county tax records.