5659 Quinn St

Bell Gardens, CA 90201

$2,699,999D-

14 bd · 12.0 ba · 7,501 sqft · Built 1962 · MultiFamily · Active · 192 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $24,289/mo
• Mortgage (P&I): −$14,159
• Tax + insurance: −$2,264
• HOA: −$0
• Vac / Maint / Mgmt: −$5,101
• Net cashflow: $2,765/mo
• Annual: $33,183/yr
• Cap rate: 7.52%
• Cash-on-cash: 4.39%
• DSCR: 1.20
• 1% rule: 0.90%
• Cash to close: $756,000

Investor read

• This is a 8×2bd/1ba + 4×1bd/1ba units multifamily listed at $2.70M.
• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $230/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.43M (10.0% below list).
• It's been on market 192 days — a 12% lower offer ($2.38M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $2.38M (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $19k of loan paydown is wiped out by about $81k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#388 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+; Watch: crime C-, amenities D+, employment D+.
• Montebello Unified (suburban): math 17% / reading 32% proficiency, ranked #419 of 517 in CA (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 55 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 25y ago; this cycle's ask has dropped $24.30M (90%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $565k; list at $2.70M implies a 378% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.5% vs local median 4.0% in Bell Gardens — 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.
• At $24,289/mo this rent would consume 478% of the median local household income ($61k/yr) (locally 6155% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?