1854 E 92nd St · Los Angeles, CA 90002

$1,400,000

4 bd · 2.0 ba · 1,750 sqft · MultiFamily public records · 7 Days on market

Built 1948 0.36 ac lot

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Why this score? — see what drove the C- 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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.8/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• 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: 5 units. confirmed

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

Exceptional value-add opportunity in the heart of Watt. This 5 unit multifamily property with significant upside potential. Ideal for investors seeking to renovate, reposition and or increase rents. Large lot with ample parking and strong rental demand in a growing South Los Angeles market. Conveniently located near public transportation, major freeways, schools and public shopping. Property sold "As Is"

Key facts

• Strong rental demand
• Major freeways
• Ample parking

Tags

• MULTIFAMILY PROPERTY
• AMPLE PARKING
• STRONG RENTAL DEMAND
• MAJOR FREEWAYS
• SCHOOLS
• PUBLIC SHOPPING

Property features AI

Finance

• Other: Five buildings on the property; Property type includes single-family/multi-unit; Possession at close of escrow; Property sold As Is
• Financial info: Actual annual gross rent: $108,000; Gross operating income: $108,000; Net operating income: $104,760; Total annual expenses: $36,000; Vacancy allowance: 3% ($3,240); Gross rent multiplier: 12.9; Owner pays gardener and water; Listing terms: Cash, Cash to new loan, Conventional
• HOA & community: No HOA amenities; Total units in complex: 58

Exterior

• Parking: Auto driveway gate; Driveway with concrete and combination surfaces; Total of 12 parking spaces
• Utilities: Water service: LA County Water Works District
• Home design: Residential income property; Single-story / one level; Faces east
• Exterior features: Lot approximately 0.3615 acres; Zoning: LAR2; No other structures

Interior

• Bedrooms: One 5-bedroom unit; Two 3-bedroom units; Three 2-bedroom units; Four 2-bedroom units; Five 3-bedroom units
• Bathrooms: One unit with 3 bathrooms; Three 2-bathroom units; Three 1-bathroom units; Four 1-bathroom units
• Heating & cooling: Natural gas heating; No cooling
• Interior features: Ceiling fan; Garbage disposal; ADA compliant
• Laundry & utility: Gas dryer hookup; Gas or electric dryer hookup; Water heaters present

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/1.4-bath units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $437/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 $1.37M (2.2% below list).
• Recommended offer: $1.37M (2.2% below list) — sets the bar for 1% rule.
• Cap rate 8.2% 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: 73 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% 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 $13,691/mo this rent would consume 278% of the median local household income ($59k/yr) (locally 2997% 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 $10k of loan paydown is wiped out by about $42k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 1948 — 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 $1,369,100 (2.2% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1948 — 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: 0.98% ✗
• Cap rate: 8.17%
• Cash-on-cash: 6.69%
• DSCR: 1.30
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $869,750
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9526-28 BANDERA St	0.23mi	4/2.0	1,586 (-9%)	14mo	$580,000	$366	62
8821 Bandera St	0.22mi	5/2.0 (+1)	1,584 (-10%)	13mo	$699,000	$441	58
9621 Laurel	0.56mi	5/4.0 (+1)	1,645 (-6%)	3mo	$685,000	$416	48
8625 Ivy St	0.51mi	5/4.0 (+1)	1,750 (0%)	22mo	$870,000	$497	45
1639 E 90th St	0.34mi	5/3.0 (+1)	1,540 (-12%)	18mo	$840,000	$545	40
8219-8221 Morton Ave	0.74mi	4/2.0	1,506 (-14%)	23mo	$800,000	$531	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-88,036
• Equity at exit: $208,745

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $100,888
• Equity at exit: $121,046

Cash invested: $392,000 (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 90002

• Active inventory: 73
• Price-to-rent: 42.6×

Monthly cashflow live

• Estimated rent: $13,691 medium
• Mortgage (P&I): −$7,342
• Tax from tax record: −$704 /mo · $8,452/yr
• Insurance: −$583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,875
• Net cashflow: $2,187

Break-even live

Break-even rent $10,923

Max offer price $1,400,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 5× units	3	1.4	$13,690
Total (5 units)			$13,691

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: $350,000
• Closing costs: $42,000
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2118 E 92nd St Unit 2120 Watts, CA	4.0	2.0	1303	$3,668	$2.82	19d	1	0.26mi
2118 E 92nd St Unit 2120 Watts, CA	4.0	2.0	1303	$3,150	$2.42	5d	1	0.26mi
2118 E 92nd St Unit 2118 Watts, CA	5.0	3.0	1490	$4,067	$2.73	19d	1	0.26mi
2118 E 92nd St Unit 2118 Watts, CA	5.0	3.0	1620	$3,450	$2.13	5d	1	0.26mi
8624 Graham Ave Unit B Los Angeles, CA	4.0	3.0	2000	$4,500	$2.25	24d	1	0.48mi
8624 Graham Ave Los Angeles, CA	4.0	3.0	2000	$4,500	$2.25	44d	1	0.48mi
1536 E 87th Pl Los Angeles, CA	5.0	3.0	1800	$4,000	$2.22	14d	1	0.53mi
1536 E 87th St Unit 87(1536B) Los Angeles, CA	5.0	3.0	1800	$4,000	$2.22	11d	1	0.57mi
1631 E 85th St Los Angeles, CA	5.0	3.0	1764	$3,800	$2.15	24d	1	0.67mi
1633 1/2 E 85th St Los Angeles, CA	5.0	3.0	1764	$3,800	$2.15	44d	1	0.69mi
10376 Wilmington Ave Los Angeles, CA	3.0	2.0	1230	$2,990	$2.43	44d	1	0.79mi
9310 Pace Ave Los Angeles, CA	3.0	1.0	1254	$3,200	$2.55	44d	1	0.80mi
9312 Pace Ave Los Angeles, CA	4.0	2.0	1798	$4,000	$2.22	44d	1	0.80mi
10422 1/2 Graham Ave Unit Graham(10422 1/2) Watts, CA	3.0	3.0	1250	$3,100	$2.48	44d	1	0.86mi
8416 Hooper Ave Los Angeles, CA	4.0	3.0	1600	$3,350	$2.09	44d	1	1.07mi
915 E 91st St Unit 915 Los Angeles, CA	3.0	1.0	1800	$3,200	$1.78	44d	1	1.09mi
10913 Wilmington Ave Los Angeles, CA	4.0	2.0	1450	$3,050	$2.10	44d	1	1.12mi
7674 Whitsett Ave Unit NA Los Angeles, CA	4.0	2.0	1500	$3,585	$2.39	44d	1	1.19mi
7674 Whitsett Ave Los Angeles, CA	4.0	2.0	1500	$4,500	$3.00	44d	1	1.19mi
2023 E 77th St Los Angeles, CA	3.0	2.0	1400	$3,498	$2.50	44d	1	1.20mi
1000 E 84th St Los Angeles, CA	5.0	3.0	1772	$4,200	$2.37	2d	1	1.26mi
909 E 83rd St Los Angeles, CA	4.0	2.0	1400	$3,888	$2.78	44d	1	1.34mi
8464 1/2 McKinley Ave Unit 1/2 Los Angeles, CA	5.0	5.0	1900	$4,125	$2.17	44d	1	1.37mi
829 E 84th St Los Angeles, CA	5.0	3.0	1854	$3,900	$2.10	44d	1	1.37mi
1159 E 78th St Los Angeles, CA	4.0	2.0	1300	$3,950	$3.04	44d	1	1.38mi
801 E 84th Pl Unit 1/2 Los Angeles, CA	5.0	4.5	2056	$4,125	$2.01	44d	1	1.39mi
8414 McKinley Ave Los Angeles, CA	5.0	5.0	1900	$4,125	$2.17	44d	1	1.40mi
831 E 83rd St Los Angeles, CA	5.0	3.0	1604	$4,960	$3.09	44d	1	1.41mi

Listing history 6 events

1. 2026-06-18
   days on market $1,400,000 Active 7 DOM
2. 2026-06-17
   days on market $1,400,000 Active 6 DOM
3. 2026-06-16
   days on market $1,400,000 Active 5 DOM
4. 2026-06-15
   days on market $1,400,000 Active 4 DOM
5. 2026-06-13
   remarks 407-char remark
6. 2026-06-13
   listed $1,400,000 Active 2 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: $8,452 · $704/mo
• Projected year-2 tax: $10,640 · $887/mo
• Expected delta: +$2,188/yr (+$182/mo · 25.9%)

ⓘ 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 5/10 Major 7 d/yr ≥90°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: $164,292
• − Mortgage interest: −$78,422
• − Property taxes: −$8,452
• − Insurance: −$7,000
• − Repairs & maintenance: −$13,143
• − Management: −$13,143
• − Depreciation: −$40,727
• Taxable income: $3,405
• Est. tax owed @ 24.0%: −$817
• After-tax cash flow: $25,421/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): 52,122
• Household income: $59,021
• Rent vs Own: 60.8% rent · 39.2% own
• Severe rent burden: 2997.0

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 (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 23% Black 15% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 61%
• Foreign-born: 36% · Canada
• Languages at home: 25% English-only · Spanish 74%

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: ▼ -698.86%
• Current HPI: 478.4773
• Rent YoY: —
• 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

• 2026-06-09 Listed $1,400,000 TheMLS
• 2023-05-31 Listed — TheMLS

Property tax history

+1.9%/yr

Latest (2025): $8,452 · +1.6% YoY. Source: county tax records.