2327 S Budlong Ave · Los Angeles, CA 90007

$1,850,000

None bd · 16.0 ba · 8,062 sqft · MultiFamily public records · 122 Days on market

Built 1911 6,801 sqft lot $229/sqft · 29% below area Est $2604k · 29% 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
• Rent growth +4.0/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• 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

RENTAL INCOME: $187,968.00 per year / $15,664.00 per month. Excellent opportunity to acquire a 16-unit apartment building in the West Adams district of Los Angeles by USC at a $115,625.00 cost per unit and $229.47 cost per square foot. This 8,062 sq. ft. building resides on a 6,801 sq. ft. corner lot which consists of 16 very large studios each with their own separate kitchen area. The property is located one block south of the 10 Freeway on an excellent and quiet stretch of Budlong Ave. at 24th St. and surrounded by single family homes and smaller apartment buildings. The property retains an excellent on-site manager making this a low maintenance asset for savvy investors. The building is well maintained and all units are individually metered for gas and electric with onsite laundry that brings in approximately $425.00 of additional monthly income. This "bread and butter" building has tremendous upside potential and is perfect for the investor looking to add more units in a great area to their portfolio and an excellent opportunity for a 1031 exchange buyer. Potential future student housing. Positioned in the northwest area of the 90007 zip code, 1.8 miles from USC, 2.5 miles from The Crypto.com Arena. CURRENT CAP RATE 6.04 % / CURRENT GRM 9.8 PRO FORMA CAP RATE 11.49 % / PRO FORMA GRM 6.4

Key facts

• Onsite laundry
• Individually metered
• On site manager

Tags

• 16 UNIT APARTMENT BUILDING
• CORNER LOT
• SEPARATE KITCHEN AREA
• ON SITE MANAGER
• INDIVIDUALLY METERED
• ONSITE LAUNDRY

🏷️ Possibly a rental listed for sale. The $1,850,000 price doesn't fit this home's estimated sale value (~$2,603,640) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a ?-bed/16.0-bath multifamily listed at $1.85M.

Deal economics

• At list price, monthly cash flow is $13k ($154k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($32k rent vs $1.85M).
• Recommended offer: $1.63M (12.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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 rising fast (+5.9%/yr); 86 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $32,099/mo this rent would consume 1089% of the median local household income ($35k/yr) (locally 4179% 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 $13k of loan paydown is wiped out by about $56k 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 + 5.9% rent growth), your $518k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($1.63M) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 22y 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 $1.27M; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,628,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.74% ✓
• Cap rate: 14.62%
• Cash-on-cash: 29.73%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

• ARV (median comp): $2,603,640
• List price: $1,850,000
• Delta: -28.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1208 W 25th St	0.58mi	24/14.0	7,934 (-2%)	6mo	$3,200,000	$403	57
3415 S Normandie Ave	0.71mi	13/13.0	7,227 (-10%)	18mo	$2,175,000	$301	23

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 · 5.88% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 2.18×
• Total profit: $613,503
• Equity at exit: $275,841

10-year hold

• IRR: 36.6%
• Equity multiple: 4.87×
• Total profit: $2,004,506
• Equity at exit: $159,954

Cash invested: $518,000 (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 90007

• Home prices YoY: -32.8%
• Rents YoY: 5.9%
• Active inventory: 86
• Price-to-rent: 76.8×

Monthly cashflow live

• Estimated rent: $32,099 high
• Mortgage (P&I): −$9,702
• Tax from tax record: −$2,054 /mo · $24,648/yr
• Insurance: −$771
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,741
• Net cashflow: $12,832

Break-even live

Break-even rent $15,856

Max offer price $1,850,000

Occupancy floor 55%

Sensitivity live

Price	-10% $13,879	-5% $13,355	+0% $12,832	+5% $12,308	+10% $11,785
Rent	-10% $10,296	-5% $11,564	+0% $12,832	+5% $14,100	+10% $15,368
Rate	-1.0pp $13,763	-0.5pp $13,302	base $12,832	+0.5pp $12,352	+1.0pp $11,865

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

Units	Beds	Baths	Est. rent
▸ 16× units	1	1	$32,096
Total (16 units)			$32,099

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: $462,500
• Closing costs: $55,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2252 W Washington Blvd Los Angeles, CA	3.0	2.5	8366	$18,000	$2.15	44d	1	0.85mi
2256 Cambridge St Unit 14 Los Angeles, CA	2.0	16.0	9392	$1,445	$0.15	6d	1	0.89mi
1150 W 38th St Los Angeles, CA	3.0–19.0	3.0–18.5	4527	$3,700	$0.82	2d	9	1.24mi

Listing history 41 events

1. 2026-06-21
   days on market $1,850,000 Active 122 DOM
2. 2026-06-18
   days on market $1,850,000 Active 119 DOM
3. 2026-06-17
   days on market $1,850,000 Active 118 DOM
4. 2026-06-16
   days on market $1,850,000 Active 117 DOM
5. 2026-06-15
   days on market $1,850,000 Active 116 DOM
6. 2026-06-13
   days on market $1,850,000 Active 114 DOM
7. 2026-06-09
   days on market $1,850,000 Active 110 DOM
8. 2026-06-08
   days on market $1,850,000 Active 109 DOM
9. 2026-06-07
   days on market $1,850,000 Active 108 DOM
10. 2026-06-04
    days on market $1,850,000 Active 105 DOM
11. 2026-06-03
    days on market $1,850,000 Active 104 DOM
12. 2026-06-02
    days on market $1,850,000 Active 103 DOM
13. 2026-06-01
    days on market $1,850,000 Active 102 DOM
14. 2026-05-31
    days on market $1,850,000 Active 101 DOM
15. 2026-02-19
    listed $1,850,000 Active 1326-char remark

    Show marketing remark (1326 chars)

    RENTAL INCOME: $187,968.00 per year / $15,664.00 per month. Excellent opportunity to acquire a 16-unit apartment building in the West Adams district of Los Angeles by USC at a $115,625.00 cost per unit and $229.47 cost per square foot. This 8,062 sq. ft. building resides on a 6,801 sq. ft. corner lot which consists of 16 very large studios each with their own separate kitchen area. The property is located one block south of the 10 Freeway on an excellent and quiet stretch of Budlong Ave. at 24th St. and surrounded by single family homes and smaller apartment buildings. The property retains an excellent on-site manager making this a low maintenance asset for savvy investors. The building is well maintained and all units are individually metered for gas and electric with onsite laundry that brings in approximately $425.00 of additional monthly income. This "bread and butter" building has tremendous upside potential and is perfect for the investor looking to add more units in a great area to their portfolio and an excellent opportunity for a 1031 exchange buyer. Potential future student housing. Positioned in the northwest area of the 90007 zip code, 1.8 miles from USC, 2.5 miles from The Crypto.com Arena. CURRENT CAP RATE 6.04 % / CURRENT GRM 9.8 PRO FORMA CAP RATE 11.49 % / PRO FORMA GRM 6.4

16. 2025-11-12
    status Active
17. 2025-02-11
    listed Active
18. 2024-08-05
    price
19. 2024-03-16
    listed Active
20. 2022-07-18
    status Active
21. 2022-06-07
    historical Backup Offers Accepted
22. 2021-09-19
    listed Active
23. 2019-02-06
    historical Withdrawn
24. 2019-02-06
    historical
25. 2018-10-16
    listed Active
26. 2018-10-16
    listed $2,600,000
27. 2014-01-07
    soldstatus $1,267,000 Closed
28. 2014-01-07
    soldstatus $1,267,000
29. 2013-10-10
    status Pending
30. 2013-08-16
    listed $1,370,000 Active
31. 2012-03-05
    soldstatus $925,000 Closed
32. 2012-02-29
    soldstatus $226,000
33. 2012-01-16
    status Pending
34. 2011-12-09
    listed $979,000 Active
35. 2005-02-15
    soldstatus $850,000
36. 2004-04-15
    historical
37. 2004-01-29
    historical
38. 2004-01-15
    listed
39. 2004-01-15
    listed $795,000
40. 2003-07-17
    soldstatus $550,000
41. 2001-11-16
    soldstatus $425,000

ⓘ 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: $24,648 · $2,054/mo
• Projected year-2 tax: $24,648 · $2,054/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 ≥90°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $385,188
• − Mortgage interest: −$103,629
• − Property taxes: −$24,648
• − Insurance: −$9,250
• − Repairs & maintenance: −$30,815
• − Management: −$30,815
• − Depreciation: −$53,818
• Taxable income: $132,213
• Est. tax owed @ 24.0%: −$31,731
• After-tax cash flow: $122,251/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): 38,715
• Household income: $35,378
• Rent vs Own: 90.2% rent · 9.8% own
• Severe rent burden: 4179.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 53% Asian 18% White 17% Two or more races 14% Black 8% Native American 1%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Romanian 1% Scotch-Irish 1% Iranian 1%
• Foreign-born: 41% · Canada, China, South Korea
• Languages at home: 37% English-only · Spanish 45% Chinese 7% Other Indo-European 5%

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: ▼ -225.40%
• Current HPI: 460.9539
• Rent YoY: ▲ 5.88%
• 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

+335.3% since first listed

27 events — show timeline

• 2026-02-19 Listed $1,850,000 TheMLS
• 2025-11-12 Relisted — TheMLS
• 2025-02-11 Listed — TheMLS
• 2024-08-05 Price Changed — TheMLS
• 2024-03-16 Listed — TheMLS
• 2022-07-18 Relisted — TheMLS
• 2022-06-07 Contingent — TheMLS
• 2021-09-19 Listed — TheMLS
• 2019-02-06 Listing Removed — SDMLS
• 2019-02-06 Delisted — TheMLS
• 2018-10-16 Listed $2,600,000 SDMLS
• 2018-10-16 Listed — TheMLS
• 2014-01-07 Sold (Public Records) $1,267,000 Public Records
• 2014-01-07 Sold (MLS) $1,267,000 TheMLS
• 2013-10-10 Pending — TheMLS
• 2013-08-16 Listed $1,370,000 TheMLS
• 2012-03-05 Sold (MLS) $925,000 TheMLS
• 2012-02-29 Sold (Public Records) $226,000 Public Records
• 2012-01-16 Pending — TheMLS
• 2011-12-09 Listed $979,000 TheMLS
• 2005-02-15 Sold (Public Records) $850,000 Public Records
• 2004-04-15 Listing Removed — SDMLS
• 2004-01-29 Delisted — TheMLS
• 2004-01-15 Listed $795,000 SDMLS
• 2004-01-15 Listed — TheMLS
• 2003-07-17 Sold (Public Records) $550,000 Public Records
• 2001-11-16 Sold (Public Records) $425,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $24,648 · +25.0% YoY. Source: county tax records.