4045 Dennison St · East Los Angeles, CA 90023

$1,299,999

2 bd · 1.0 ba · 790 sqft · MultiFamily public records · 17 Days on market

Built 1955 8,032 sqft lot

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Why this score? — see what drove the D- 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 +12.8/30.0
• ARV discount +7.5/15.0
• DSCR +3.8/10.0
• Schools +3.6/10.0
• 1% rule +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

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

Great INVESTMENT opportunity! Own an amazing cash producing fourplex in the heart of East Los Angeles. This MASSIVE property sits on more than 8,000 square feet and offers almost 3,600 square feet of living space. The property boasts one duplex that features a 3 Bedroom, 2 Bath Unit upstairs and a 2 Bedroom 1 bath unit downstairs; the property also offers two independent single family dwellings of 2 Bedroom, One Bath each . Zoned R4, in a rare space in Los Angeles that is not under the City of Los Angeles Rent Control ordinance. .. THAT'S RIGHT NO RENT CONTROL. A rare opportunity so close to the hustle and bustle of the city. Property will be sold vacant at the request of any prospective buyer so that they may occupy any of the residences to take advantage of all financing options available. * * * AGENTS PLEASE READ UPDATED AGENT REMARKS * * *

Key facts

• Expansive lot
• Development upside
• Future lot split

Tags

• UNIQUE LAYOUT
• EXPANSIVE LOT
• 12 PARKING SPACES
• ZONED WITH POTENTIAL
• FUTURE LOT SPLIT
• DEVELOPMENT UPSIDE

Property features AI

Finance

• Other: Total building area reported as 3,649; Property distributed across 3 buildings
• Financial info: Total of 4 residential units; Gross income: $126,000; Gross scheduled income: $117,360; Net operating income: $94,561; Gross multiplier: 13; Operating expense: $6,600; Total expenses: $11,800; Expense breakdown includes: Insurance $5,200; Water/Sewer $4,800; Electric $600; Trash $1,200; (New Taxes listed separately)
• HOA & community: Urban community setting; Rent control

Exterior

• Parking: Assigned parking; Total of 14 parking spaces; 1 covered garage space; 2 carport spaces; 11 uncovered spaces
• Utilities: Public sewer; District/public water; One separate water meter; Four separate gas meters; Five separate electric meters
• Home design: Low-rise multifamily property; 2 total stories; No accessory dwelling unit
• Construction: Year built source: Assessor
• Exterior features: No pool; Corner lot; Front yard

Interior

• Kitchen: Kitchens present in each unit
• Bedrooms: Unit mix includes 1-bed, 2-bed, and 3-bed units
• Bathrooms: Combination of full bathrooms across units (1 or 2 baths per unit)
• Interior features: Two-level building; Entry on level 1
• Laundry & utility: Laundry inside; Washer hookup available; Gas dryer hookup available

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $1.30M.

Deal economics

• At list price, monthly cash flow is $-123 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.28M (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.06M (18.2% below list).
• Recommended offer: $1.06M (18.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.7% in East 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 60/100 on livability (#594 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, schools B+; Watch: employment C-, health & safety 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 flat; 57 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 $10,629/mo this rent would consume 216% of the median local household income ($59k/yr) (locally 2670% 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 $9k of loan paydown is wiped out by about $39k 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 17 days — a 2% lower offer ($1.28M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $830k; list at $1.30M implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $1,062,900 (18.2% 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 1955 — 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: 0.82% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.21% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.32×
• Total profit: $-247,639
• Equity at exit: $193,834

10-year hold

• IRR: -20.0%
• Equity multiple: 0.07×
• Total profit: $-338,881
• Equity at exit: $112,400

Cash invested: $364,000 (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 90023

• Rents YoY: 0.2%
• Active inventory: 57
• Price-to-rent: 36.2×

Monthly cashflow live

• Estimated rent: $10,629 high
• Mortgage (P&I): −$6,817
• Tax from tax record: −$1,161 /mo · $13,930/yr
• Insurance: −$542
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,232
• Net cashflow: $-123

Break-even live

Break-even rent $10,785

Max offer price $1,278,282

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$2,993
▸ 3× units	2	1	$7,638
Total (4 units)			$10,629

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: $325,000
• Closing costs: $39,000
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1157 S Townsend Ave Los Angeles, CA	3.0	1.0	700	$2,775	$3.96	24d	1	0.12mi
1140 S Record Ave Los Angeles, CA	2.0	1.0	800	$2,700	$3.38	43d	1	0.34mi
1129 La Puerta St Los Angeles, CA	3.0	1.0	844	$3,600	$4.27	43d	1	0.34mi
1050 1/2 S Bonnie Beach Pl Los Angeles, CA	2.0	1.5	985	$2,562	$2.60	24d	1	0.41mi
3824 Princeton St Los Angeles, CA	2.0	1.0	980	$2,380	$2.43	14d	1	0.43mi
924 S Sunol Dr Unit 1/2 Los Angeles, CA	3.0	2.0	1040	$3,000	$2.88	24d	1	0.55mi
3420 Percy St Unit 3 Los Angeles, CA	1.0	1.0	600	$1,750	$2.92	43d	1	0.84mi
3466 E 8th St Los Angeles, CA	3.0	1.0	1104	$3,150	$2.85	7d	1	0.86mi
969 S Lorena St Unit 1/2 Commerce, CA	2.0	2.5	1100	$2,600	$2.36	7d	1	0.90mi
969 S Lorena St Unit 1/2 Commerce, CA	2.0	2.5	1100	$2,600	$2.36	5d	1	0.90mi
926 S Ford Blvd Los Angeles, CA	3.0	2.0	1000	$3,200	$3.20	43d	1	0.98mi
150 1/2 S Bonnie Beach Pl Los Angeles, CA	1.0	1.0	700	$1,800	$2.57	24d	1	1.04mi
132 N Ditman Ave Los Angeles, CA	3.0	2.0	1000	$2,875	$2.88	24d	1	1.10mi
1025 S Kern Ave Los Angeles, CA	1.0	1.0	600	$1,630	$2.72	43d	1	1.22mi
3059 E 5th St Los Angeles, CA	1.0	1.0	530	$1,800	$3.40	43d	1	1.26mi
2312 Connor Ave Commerce, CA	3.0	2.0	1125	$3,200	$2.84	17d	1	1.30mi
2312 Connor Ave Commerce, CA	3.0	2.0	1125	$3,200	$2.84	1d	1	1.30mi
364 S McBride Ave Los Angeles, CA	2.0	1.0	750	$3,250	$4.33	43d	1	1.37mi
4091 San Carlos St Unit 4089 Los Angeles, CA	2.0	1.0	1100	$2,795	$2.54	7d	1	1.39mi
4045 San Carlos St Los Angeles, CA	2.0	1.0	700	$2,550	$3.64	7d	1	1.40mi
2853 E 6th St Unit 2 Los Angeles, CA	2.0	1.0	1000	$2,800	$2.80	43d	1	1.41mi
2853 E 6th St Los Angeles, CA	2.0	1.0	552	$2,000	$3.62	44d	1	1.41mi
2855 1/2 E 6th St Los Angeles, CA	3.0	1.0	1000	$3,500	$3.50	43d	1	1.41mi

Listing history 13 events

1. 2026-06-18
   days on market $1,299,999 Active 17 DOM
2. 2026-06-17
   days on market $1,299,999 Active 16 DOM
3. 2026-06-16
   days on market $1,299,999 Active 15 DOM
4. 2026-06-15
   days on market $1,299,999 Active 14 DOM
5. 2026-06-13
   days on market $1,299,999 Active 12 DOM
6. 2026-06-09
   days on market $1,299,999 Active 8 DOM
7. 2026-06-08
   days on market $1,299,999 Active 7 DOM
8. 2026-06-08
   price $1,299,999 Active 6 DOM
9. 2026-06-07
   days on market $1,295,900 Active 6 DOM
10. 2026-06-04
    days on market $1,295,900 Active 3 DOM
11. 2026-06-03
    days on market $1,295,900 Active 2 DOM
12. 2026-06-02
    remarks 699-char remark
13. 2026-06-02
    listed $1,295,900 Active 1 DOM

ⓘ 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: $13,930 · $1,161/mo
• Projected year-2 tax: $13,930 · $1,161/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $127,548
• − Mortgage interest: −$72,820
• − Property taxes: −$13,930
• − Insurance: −$6,500
• − Repairs & maintenance: −$10,204
• − Management: −$10,204
• − Depreciation: −$37,818
• Taxable loss: −$23,928
• Est. tax savings @ 24.0%: +$5,743
• After-tax cash flow: $4,268/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 — East Los Angeles

• Score: 60/100
• State rank: #594
• US rank: #19237

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 108,740
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 43,857
• Household income: $59,057
• Rent vs Own: 74.7% rent · 25.3% own
• Severe rent burden: 2670.0

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 (96%)
• Race & ethnicity: Hispanic / Latino 96% Two or more races 17% Native American 2% White 2%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Italian 1%
• Foreign-born: 41% · Canada, Jamaica
• Languages at home: 16% English-only · Spanish 83%

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: ▼ -702.74%
• Current HPI: 430.9762
• Rent YoY: ▲ 0.21%
• 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

+52.5% since first listed

14 events — show timeline

• 2026-06-01 Listed $1,295,900 CRMLS
• 2025-12-07 Relisted — CRMLS
• 2025-12-07 Listing Removed — CRMLS
• 2025-09-19 Price Changed $1,549,900 CRMLS
• 2025-08-25 Price Changed $1,599,800 CRMLS
• 2025-07-03 Price Changed $1,599,900 CRMLS
• 2025-06-25 Listed $1,650,000 CRMLS
• 2017-10-24 Sold (Public Records) $830,000 Public Records
• 2017-10-20 Sold (MLS) $830,000 SDMLS
• 2017-10-20 Sold (MLS) $830,000 CRMLS
• 2017-08-02 Pending — CRMLS
• 2017-07-13 Price Changed $849,900 CRMLS
• 2017-06-08 Listed $899,900 CRMLS
• 2017-06-04 Listed $849,900 SDMLS

Property tax history

+9.8%/yr

Latest (2025): $13,930 · +3.3% YoY. Source: county tax records.