247 W Florence · Los Angeles, CA 90003

$1,050,000

5 bd · 5.0 ba · 6,410 sqft · MultiFamily · 58 Days on market

Built 1919 Fair condition 5,969 sqft lot $164/sqft · 31% below area Est $1529k · 31% under

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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
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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 MLS

247 W Florence Avenue presents an opportunity to acquire a mixed-use investment property in South Los Angeles. The asset consists of eight total units, including (5) one-bedroom/one-bath residential units and (3) ground-floor commercial spaces, offering a diverse income stream. Priced at $131,250 per unit and $163 per square foot, the property provides an attractive basis for investors. The property is currently operating at a 6.04% cap rate and 8.77 GRM, with approximately 40% rental upside, presenting a strong opportunity to increase cash flow through rent adjustments and operational improvements. The property is located along the active Florence Avenue corridor in South Los Angeles, offering convenient access to Downtown Los Angeles, University of Southern California, and major transportation routes including Interstate 110 and Interstate 105, connecting tenants to employment centers and amenities throughout the city.

Key facts

• Eight total units
• 5,969 sq ft lot
• 4 garage spots

Tags

• MIXED-USE INVESTMENT PROPERTY
• EIGHT TOTAL UNITS
• GROUND-FLOOR COMMERCIAL SPACES
• MAJOR TRANSPORTATION ROUTES

What this means for you Summary

Snapshot

• This is a 5-bed/5.0-bath multifamily listed at $1.05M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $7k ($81k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.05M).
• Recommended offer: $1.02M (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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-, schools 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; 161 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $17,732/mo this rent would consume 380% of the median local household income ($56k/yr) (locally 4550% 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 $7k of loan paydown is wiped out by about $32k 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 + 0.1% rent growth), your $294k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($1.02M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,018,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1919 — 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: 1.69% ✓
• Cap rate: 14.01%
• Cash-on-cash: 27.56%
• DSCR: 2.23
• GRM: 4.9

CMA / ARV

• ARV (median comp): $1,529,017
• List price: $1,050,000
• Delta: -31.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.11% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 1.71×
• Total profit: $210,044
• Equity at exit: $156,558

10-year hold

• IRR: 24.6%
• Equity multiple: 2.85×
• Total profit: $543,637
• Equity at exit: $90,785

Cash invested: $294,000 (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 90003

• Rents YoY: 0.1%
• Active inventory: 161
• Price-to-rent: 40.1×

Monthly cashflow live

• Estimated rent: $17,732 high
• Mortgage (P&I): −$5,506
• Tax est. 1.5%: −$1,312 /mo · $15,750/yr
• Insurance: −$438
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,724
• Net cashflow: $6,752

Break-even live

Break-even rent $9,185

Max offer price $1,050,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$10,915
▸ 3× units	0	0	$6,816
Total (8 units)			$17,732

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: $262,500
• Closing costs: $31,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $1,050,000 Active 58 DOM
2. 2026-06-17
   days on market $1,050,000 Active 57 DOM
3. 2026-06-16
   days on market $1,050,000 Active 56 DOM
4. 2026-06-15
   days on market $1,050,000 Active 55 DOM
5. 2026-06-13
   days on market $1,050,000 Active 53 DOM
6. 2026-06-09
   days on market $1,050,000 Active 49 DOM
7. 2026-06-08
   days on market $1,050,000 Active 48 DOM
8. 2026-06-07
   days on market $1,050,000 Active 47 DOM
9. 2026-06-04
   days on market $1,050,000 Active 44 DOM
10. 2026-06-03
    days on market $1,050,000 Active 43 DOM
11. 2026-06-02
    days on market $1,050,000 Active 42 DOM
12. 2026-06-01
    days on market $1,050,000 Active 41 DOM
13. 2026-05-31
    days on market $1,050,000 Active 40 DOM
14. 2026-04-21
    listed $1,050,000 Active 935-char remark

    Show marketing remark (935 chars)

    247 W Florence Avenue presents an opportunity to acquire a mixed-use investment property in South Los Angeles. The asset consists of eight total units, including (5) one-bedroom/one-bath residential units and (3) ground-floor commercial spaces, offering a diverse income stream. Priced at $131,250 per unit and $163 per square foot, the property provides an attractive basis for investors. The property is currently operating at a 6.04% cap rate and 8.77 GRM, with approximately 40% rental upside, presenting a strong opportunity to increase cash flow through rent adjustments and operational improvements. The property is located along the active Florence Avenue corridor in South Los Angeles, offering convenient access to Downtown Los Angeles, University of Southern California, and major transportation routes including Interstate 110 and Interstate 105, connecting tenants to employment centers and amenities throughout the city.

15. 2024-06-04
    listed Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $212,784
• − Mortgage interest: −$58,816
• − Property taxes: −$15,750
• − Insurance: −$5,250
• − Repairs & maintenance: −$17,023
• − Management: −$17,023
• − Depreciation: −$30,545
• Taxable income: $68,377
• Est. tax owed @ 24.0%: −$16,410
• After-tax cash flow: $64,613/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.

Condition & rehab AI · 12 photos

Fair 45/100 Extensive rehab

This multi-family property requires extensive repairs and maintenance to improve its condition and increase its value.

Repairs flagged

• Major exterior walls — Significant wear and tear
• Major roof — Aged and possibly leaking
• Major flooring — Concrete in need of repair
• Major HVAC/mechanicals — No recent maintenance

Value-add opportunities

• Both exterior paint job — Fresh paint can improve curb appeal and property value
• Both landscaping — Well-maintained landscaping can enhance property value and attract tenants
• Both HVAC system — Upgrading HVAC can improve comfort and energy efficiency, attracting tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior walls · Significant wear and tear	Major	$15,000–50,000
roof · Aged and possibly leaking	Major	$15,000–50,000
flooring · Concrete in need of repair	Major	$15,000–50,000
HVAC/mechanicals · No recent maintenance	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both exterior paint job — Fresh paint can improve curb appeal and property value ↑
• Both landscaping — Well-maintained landscaping can enhance property value and attract tenants ↑
• Both HVAC system — Upgrading HVAC can improve comfort and energy efficiency, attracting tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 70,065
• Household income: $56,030
• Rent vs Own: 72.8% rent · 27.2% own
• Severe rent burden: 4550.0

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 (81%)
• Race & ethnicity: Hispanic / Latino 81% Two or more races 20% Black 16% Native American 1%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: British 1%
• Foreign-born: 40% · Canada
• Languages at home: 24% English-only · Spanish 75%

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: ▼ -785.95%
• Current HPI: 512.5667
• Rent YoY: ▲ 0.11%
• 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

2 events — show timeline

• 2026-04-21 Listed $1,050,000 CRMLS
• 2024-06-04 Listed — TheMLS