20460 Pacific Coast · Malibu, CA 90265

$674,000

3 bd · 3.0 ba · 1,750 sqft · Condo public records · 240 Days on market

Built 1963 $385/sqft · 84% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• Appreciation +5.3/10.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0

Listing remarks MLS

New Co-Ownership Opportunity: Own one-eighth of this turnkey home, professionally managed by Pacaso. The Pacific is front and center in this contemporary oceanfront home that maximizes the views and beach lifestyle. The living space features a dining area with banquette seating, a brick fireplace and bi-fold French doors that open to a cozy covered deck. The kitchen has stainless steel appliances, a double-drawer dishwasher and access to the 2-car garage. Skylights bring warm shafts of light throughout the second floor. The zen-like primary bedroom features bi-fold doors to a private balcony overlooking the ocean, a modern fireplace and an en suite bathroom with soaking tub, dual-sink vanity and a marble tiled shower. Another bedroom and a bunk room ensure there's plenty of room for guests. Below the main floor, the nearly 1,000-square-foot foot deck has been transformed into an entertainment haven, featuring a tiki bar, dining table, chair swings and a motorized, waterproof door. The home comes fully furnished and professionally decorated.

Key facts

• Private balcony
• Entertainment haven
• Oceanfront home

Tags

• OCEANFRONT HOME
• COZY COVERED DECK
• PRIVATE BALCONY
• ENTERTAINMENT HAVEN
• TIKI BAR

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $674k.

Deal economics

• At list price, monthly cash flow is $4k ($54k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $674k).
• Recommended offer: $593k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 0.7% in Malibu — 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 53/100 on livability (#979 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+; Watch: housing C-, crime F, amenities F.
• Santa Monica-Malibu Unified (urban): math 61% / reading 74% proficiency, ranked #123 of 1,400 in CA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Webster Elementary (214 students, 10% FRL).
• Market conditions: Rents falling (-3.4%/yr); 636 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $11,580/mo this rent would consume 71% of the median local household income ($197k/yr) (locally 420% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $9k of equity ($5k loan paydown + $4k appreciation (0.6% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.6% appreciation + 0.0% rent growth), your $189k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($593k) is reasonable based on typical stale-listing flexibility.
• 25 sale attempts since 27y 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

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $593,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.72% ✓
• Cap rate: 14.29%
• Cash-on-cash: 28.55%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (median comp): $4,140,427
• List price: $674,000
• Delta: -83.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

0.62% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 27.4%
• Equity multiple: 2.34×
• Total profit: $252,349
• Equity at exit: $216,791

10-year hold

• IRR: 28.7%
• Equity multiple: 4.02×
• Total profit: $569,001
• Equity at exit: $278,075

Cash invested: $188,720 (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 90265

• Home prices YoY: 0.1%
• Rents YoY: -3.4%
• Active inventory: 636
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $11,580 medium
• Mortgage (P&I): −$3,535
• Tax est. 1.5%: −$842 /mo · $10,110/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,432
• Net cashflow: $4,491

Break-even live

Break-even rent $5,896

Max offer price $674,000

Occupancy floor 56%

Sensitivity live

Price	-10% $4,956	-5% $4,724	+0% $4,491	+5% $4,258	+10% $4,025
Rent	-10% $3,576	-5% $4,033	+0% $4,491	+5% $4,948	+10% $5,405
Rate	-1.0pp $4,830	-0.5pp $4,662	base $4,491	+0.5pp $4,316	+1.0pp $4,138

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: $168,500
• Closing costs: $20,220
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20448 Pacific Coast Hwy Malibu, CA	3.0	3.0	1647	$22,500	$13.66	5d	1	0.04mi
20647 Seaboard Rd Malibu, CA	3.0	2.0	2092	$27,000	$12.91	45d	1	0.21mi
20645 Seaboard Rd Malibu, CA	3.0	2.0	1564	$12,500	$7.99	6d	1	0.25mi
20537 Little Rock Way Unit A Malibu, CA	4.0	2.0	1892	$11,000	$5.81	45d	1	0.30mi
3966 Las Flores Canyon Rd Malibu, CA	3.0	2.0	1450	$10,995	$7.58	45d	1	0.86mi
3908 Las Flores Canyon Rd Malibu, CA	3.0	2.0	1250	$9,995	$8.00	45d	1	0.92mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $674,000 Active 240 DOM
2. 2026-06-18
   days on market $674,000 Active 237 DOM
3. 2026-06-17
   days on market $674,000 Active 236 DOM
4. 2026-06-16
   days on market $674,000 Active 235 DOM
5. 2026-06-15
   days on market $674,000 Active 234 DOM
6. 2026-06-13
   days on market $674,000 Active 232 DOM
7. 2026-06-13
   days on market $674,000 Active 231 DOM
8. 2026-06-09
   days on market $674,000 Active 228 DOM
9. 2026-06-08
   days on market $674,000 Active 227 DOM
10. 2026-06-07
    days on market $674,000 Active 226 DOM
11. 2026-06-04
    days on market $674,000 Active 223 DOM
12. 2026-06-03
    days on market $674,000 Active 222 DOM
13. 2026-06-02
    days on market $674,000 Active 221 DOM
14. 2026-06-01
    days on market $674,000 Active 220 DOM
15. 2026-05-31
    days on market $674,000 Active 219 DOM
16. 2025-10-24
    listed $674,000 Active 1056-char remark

    Show marketing remark (1056 chars)

    New Co-Ownership Opportunity: Own one-eighth of this turnkey home, professionally managed by Pacaso. The Pacific is front and center in this contemporary oceanfront home that maximizes the views and beach lifestyle. The living space features a dining area with banquette seating, a brick fireplace and bi-fold French doors that open to a cozy covered deck. The kitchen has stainless steel appliances, a double-drawer dishwasher and access to the 2-car garage. Skylights bring warm shafts of light throughout the second floor. The zen-like primary bedroom features bi-fold doors to a private balcony overlooking the ocean, a modern fireplace and an en suite bathroom with soaking tub, dual-sink vanity and a marble tiled shower. Another bedroom and a bunk room ensure there's plenty of room for guests. Below the main floor, the nearly 1,000-square-foot foot deck has been transformed into an entertainment haven, featuring a tiki bar, dining table, chair swings and a motorized, waterproof door. The home comes fully furnished and professionally decorated.

17. 2025-07-07
    listed Active
18. 2024-05-06
    price
19. 2024-04-05
    listed Active
20. 2024-03-14
    status Pending
21. 2024-03-08
    price
22. 2023-08-17
    status Active
23. 2023-05-16
    listed Active
24. 2023-03-30
    price
25. 2023-03-27
    price
26. 2023-02-15
    listed Active
27. 2022-03-23
    soldstatus $4,350,000 Closed Sale
28. 2022-03-23
    soldstatus $4,350,000
29. 2022-03-09
    status Pending Sale
30. 2022-03-03
    historical $4,500,000
31. 2021-04-19
    historical
32. 2018-08-09
    historical Cancelled
33. 2018-05-26
    status Active
34. 2018-04-30
    status Backup Offers Accepted
35. 2018-02-07
    price
36. 2018-01-24
    listed Active
37. 2017-12-14
    historical Cancelled
38. 2017-09-26
    price
39. 2017-09-02
    price
40. 2017-08-07
    listed Active
41. 2015-09-30
    soldstatus $2,305,000 Closed
42. 2015-09-30
    soldstatus $2,285,500
43. 2015-09-14
    status Pending
44. 2015-07-24
    status Backup Offers Accepted
45. 2015-07-17
    historical Hold
46. 2015-06-26
    listed $2,289,500 Active
47. 2009-03-16
    historical
48. 2009-03-12
    soldstatus $1,600,000 Closed
49. 2009-03-11
    soldstatus $1,600,000
50. 2009-02-10
    status

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥82°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $138,965
• − Mortgage interest: −$37,754
• − Property taxes: −$10,110
• − Insurance: −$3,370
• − Repairs & maintenance: −$11,117
• − Management: −$11,117
• − Depreciation: −$19,607
• Taxable income: $45,888
• Est. tax owed @ 24.0%: −$11,013
• After-tax cash flow: $42,874/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: Santa Monica-Malibu Unified
• NCES district ID: 0635700
• Math proficiency: 61% ▬ 0.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $81,489
• Composite: 61.58/100
• National rank: #1535
• State rank: #123 of 1400 in CA

Livability — Malibu

• Score: 53/100
• State rank: #979
• US rank: #24630

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Malibu, CA
• County: Los Angeles County · 9,444,647 people
• City population: 15,918
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 15,918
• Household income: $196,742
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 420.0

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 White (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 9% Asian 5% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 8% Scotch-Irish 3% Romanian 3%
• Foreign-born: 16% · Canada, South Korea, China
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 6% French/Haitian/Cajun 2%

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: ▲ 0.62%
• Current HPI: 498.5117
• Rent YoY: ▼ -3.39%
• 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

+399.3% since first listed

80 events — show timeline

• 2025-10-24 Listed $674,000 TheMLS
• 2025-07-07 Listed — TheMLS
• 2024-05-06 Price Changed — TheMLS
• 2024-04-05 Listed — TheMLS
• 2024-03-14 Pending — TheMLS
• 2024-03-08 Price Changed — TheMLS
• 2023-08-17 Relisted — TheMLS
• 2023-05-16 Listed — TheMLS
• 2023-03-30 Price Changed — TheMLS
• 2023-03-27 Price Changed — TheMLS
• 2023-02-15 Listed — TheMLS
• 2022-03-23 Sold (Public Records) $4,350,000 Public Records
• 2022-03-23 Sold (MLS) $4,350,000 CRMLS
• 2022-03-09 Pending — CRMLS
• 2022-03-03 Coming Soon $4,500,000 CRMLS
• 2021-04-19 Listing Removed — CSMAR
• 2018-08-09 Delisted — TheMLS
• 2018-05-26 Relisted — TheMLS
• 2018-04-30 Pending — TheMLS
• 2018-02-07 Price Changed — TheMLS
• 2018-01-24 Listed — TheMLS
• 2017-12-14 Delisted — TheMLS
• 2017-09-26 Price Changed — TheMLS
• 2017-09-02 Price Changed — TheMLS
• 2017-08-07 Listed — TheMLS
• 2015-09-30 Sold (Public Records) $2,285,500 Public Records
• 2015-09-30 Sold (MLS) $2,305,000 TheMLS
• 2015-09-14 Pending — TheMLS
• 2015-07-24 Pending — TheMLS
• 2015-07-17 Delisted — TheMLS
• 2015-06-26 Listed $2,289,500 TheMLS
• 2009-03-16 Delisted — TheMLS
• 2009-03-12 Sold (MLS) $1,600,000 TheMLS
• 2009-03-11 Sold (Public Records) $1,600,000 Public Records
• 2009-02-10 Relisted — TheMLS
• 2009-02-09 Delisted — TheMLS
• 2008-11-14 Price Changed $1,950,000 TheMLS
• 2008-10-24 Relisted — TheMLS
• 2008-10-22 Delisted — TheMLS
• 2008-10-16 Relisted — TheMLS
• 2008-10-15 Delisted — TheMLS
• 2008-10-10 Relisted — TheMLS
• 2008-10-09 Delisted — TheMLS
• 2008-10-06 Relisted — TheMLS
• 2008-10-05 Delisted — TheMLS
• 2008-10-03 Relisted — TheMLS
• 2008-10-02 Delisted — TheMLS
• 2008-09-23 Price Changed $2,050,000 TheMLS
• 2008-06-22 Price Changed $2,100,000 TheMLS
• 2008-06-03 Relisted — TheMLS
• 2008-06-02 Delisted — TheMLS
• 2008-03-22 Price Changed $2,250,000 TheMLS
• 2008-02-08 Listed $2,350,000 TheMLS
• 2007-12-01 Delisted — TheMLS
• 2007-10-29 Price Changed — TheMLS
• 2007-10-05 Price Changed — TheMLS
• 2007-09-17 Price Changed — TheMLS
• 2007-07-31 Price Changed — TheMLS
• 2007-06-03 Listed — TheMLS
• 2006-08-31 Delisted — CRMLS
• 2006-06-28 Sold (Public Records) $2,470,000 Public Records
• 2006-06-27 Sold (Public Records) $2,470,000 Public Records
• 2006-06-27 Sold (MLS) $2,470,000 TheMLS
• 2006-05-24 Delisted — TheMLS
• 2006-04-03 Listed $2,495,000 TheMLS
• 2006-03-06 Listed — CRMLS
• 2006-03-06 Listed $2,495,000 CSMAR
• 2005-10-21 Delisted — TheMLS
• 2005-10-20 Listed — TheMLS
• 2003-09-15 Sold (Public Records) $1,150,000 Public Records
• 2003-09-15 Sold (MLS) $1,150,000 TheMLS
• 2003-07-11 Delisted — TheMLS
• 2002-11-25 Listed $1,200,000 TheMLS
• 2000-02-04 Sold (MLS) $590,000 TheMLS
• 2000-01-21 Sold (Public Records) $590,000 Public Records
• 1999-12-02 Delisted — TheMLS
• 1999-09-27 Listed $649,000 TheMLS
• 1998-03-18 Sold (Public Records) $200,000 Public Records
• 1998-03-18 Sold (Public Records) $135,000 Public Records
• 1996-06-27 Sold (Public Records) $500 Public Records

Property tax history

+3.3%/yr

Latest (2025): $51,181 · -4.5% YoY. Source: county tax records.