1550 El Paso Dr · Los Angeles, CA 90065

$2,060,000

15 bd · 10.0 ba · 7,511 sqft · MultiFamily · 97 Days on market

Built 1959 0.33 ac lot $274/sqft · 27% below area Est $2810k · 27% under ↓ 18% since listing

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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 +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.9/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• 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 MLS

Tremendous development opportunity offering current income-producing units. Ideal location in the heart of Northeast Los Angles at the junction of Glassell Park, Eagle Rock, and Highland Park, 1550 El Paso Drive presents a compelling mixed-use asset ideal for the savvy investor. On a large 14,000sqft plus lot, the property features 10 Units with a Mix of (4) 1BD/1BA; (5) 2BD/1BA; (1) 3BD/1BA) on a mixed-use-zoned lot with strong street visibility along one of Northeast Los Angeles' most prominent commercial corridors, surrounded by some of the city's hottest new shopping, dining, and neighborhood destinations. Located just minutes from neighborhood anchors such as Occidental College, the property sits within the vibrant Northeast Los Angeles submarket encompassing Eagle Rock, Highland Park, and Glassell Park. Together, these communities represent a combined population of over 110,000 residents with rising median household incomes, a highly educated workforce, and a strong concentration of young professionals, creatives, and long-term homeowners. The area is known for its thriving retail and dining scenes along Colorado Boulevard, York Boulevard, and Figueroa Street, as well as its proximity to major employment centers in Downtown Los Angeles, Pasadena, and Glendale. With strong neighborhood demographics, walkable lifestyle amenities, and continued growth across Northeast LA, 1550 El Paso Drive offers a rare opportunity to acquire a well-located mixed-use property with stable in-place income and long-term upside in one of Los Angeles' most sought-after urban neighborhoods.

Key facts

• Investment property
• Large lot
• Mixed-use-zoned lot

Tags

• INVESTMENT PROPERTY
• INCOME-PRODUCING UNITS
• DEVELOPMENT OPPORTUNITY
• LARGE LOT
• MIXED-USE-ZONED LOT
• STRONG STREET VISIBILITY

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/?-bath units multifamily listed at $2.06M.

Deal economics

• At list price, monthly cash flow is $5k ($62k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $2.06M).
• Recommended offer: $1.87M (9.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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; 239 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $24,549/mo this rent would consume 311% of the median local household income ($95k/yr) (locally 2198% 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 $14k of loan paydown is wiped out by about $62k 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

• It's been on market 97 days — a 9% lower offer ($1.87M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y ago; this cycle's ask has dropped $440k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,874,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.19% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.73%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (median comp): $2,809,922
• List price: $2,060,000
• Delta: -26.69%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.21% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.88×
• Total profit: $-71,999
• Equity at exit: $307,153

10-year hold

• IRR: 2.8%
• Equity multiple: 1.18×
• Total profit: $101,604
• Equity at exit: $178,111

Cash invested: $576,800 (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 90065

• Rents YoY: 0.2%
• Active inventory: 239
• Price-to-rent: 35.0×

Monthly cashflow live

• Estimated rent: $24,549 high
• Mortgage (P&I): −$10,803
• Tax est. 1.5%: −$2,575 /mo · $30,900/yr
• Insurance: −$858
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,155
• Net cashflow: $5,158

Break-even live

Break-even rent $18,021

Max offer price $2,060,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 5× units	3	—	$24,550
Total (5 units)			$24,549

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: $515,000
• Closing costs: $61,800
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $2,060,000 Active 97 DOM
2. 2026-06-17
   days on market $2,060,000 Active 96 DOM
3. 2026-06-16
   days on market $2,060,000 Active 95 DOM
4. 2026-06-15
   days on market $2,060,000 Active 94 DOM
5. 2026-06-13
   days on market $2,060,000 Active 92 DOM
6. 2026-06-09
   days on market $2,060,000 Active 88 DOM
7. 2026-06-08
   days on market $2,060,000 Active 87 DOM
8. 2026-06-07
   days on market $2,060,000 Active 86 DOM
9. 2026-06-04
   days on market $2,060,000 Active 83 DOM
10. 2026-06-03
    days on market $2,060,000 Active 82 DOM
11. 2026-06-02
    days on market $2,060,000 Active 81 DOM
12. 2026-06-01
    days on market $2,060,000 Active 80 DOM
13. 2026-05-31
    days on market $2,060,000 Active 79 DOM
14. 2026-05-09
    price $2,060,000 1598-char remark

    Show marketing remark (1598 chars)

    Tremendous development opportunity offering current income-producing units. Ideal location in the heart of Northeast Los Angles at the junction of Glassell Park, Eagle Rock, and Highland Park, 1550 El Paso Drive presents a compelling mixed-use asset ideal for the savvy investor. On a large 14,000sqft plus lot, the property features 10 Units with a Mix of (4) 1BD/1BA; (5) 2BD/1BA; (1) 3BD/1BA) on a mixed-use-zoned lot with strong street visibility along one of Northeast Los Angeles' most prominent commercial corridors, surrounded by some of the city's hottest new shopping, dining, and neighborhood destinations. Located just minutes from neighborhood anchors such as Occidental College, the property sits within the vibrant Northeast Los Angeles submarket encompassing Eagle Rock, Highland Park, and Glassell Park. Together, these communities represent a combined population of over 110,000 residents with rising median household incomes, a highly educated workforce, and a strong concentration of young professionals, creatives, and long-term homeowners. The area is known for its thriving retail and dining scenes along Colorado Boulevard, York Boulevard, and Figueroa Street, as well as its proximity to major employment centers in Downtown Los Angeles, Pasadena, and Glendale. With strong neighborhood demographics, walkable lifestyle amenities, and continued growth across Northeast LA, 1550 El Paso Drive offers a rare opportunity to acquire a well-located mixed-use property with stable in-place income and long-term upside in one of Los Angeles' most sought-after urban neighborhoods.

15. 2026-03-14
    listed $2,500,000 Active 1598-char remark

    Show marketing remark (1598 chars)

    Tremendous development opportunity offering current income-producing units. Ideal location in the heart of Northeast Los Angles at the junction of Glassell Park, Eagle Rock, and Highland Park, 1550 El Paso Drive presents a compelling mixed-use asset ideal for the savvy investor. On a large 14,000sqft plus lot, the property features 10 Units with a Mix of (4) 1BD/1BA; (5) 2BD/1BA; (1) 3BD/1BA) on a mixed-use-zoned lot with strong street visibility along one of Northeast Los Angeles' most prominent commercial corridors, surrounded by some of the city's hottest new shopping, dining, and neighborhood destinations. Located just minutes from neighborhood anchors such as Occidental College, the property sits within the vibrant Northeast Los Angeles submarket encompassing Eagle Rock, Highland Park, and Glassell Park. Together, these communities represent a combined population of over 110,000 residents with rising median household incomes, a highly educated workforce, and a strong concentration of young professionals, creatives, and long-term homeowners. The area is known for its thriving retail and dining scenes along Colorado Boulevard, York Boulevard, and Figueroa Street, as well as its proximity to major employment centers in Downtown Los Angeles, Pasadena, and Glendale. With strong neighborhood demographics, walkable lifestyle amenities, and continued growth across Northeast LA, 1550 El Paso Drive offers a rare opportunity to acquire a well-located mixed-use property with stable in-place income and long-term upside in one of Los Angeles' most sought-after urban neighborhoods.

16. 2001-09-07
    historical
17. 2001-07-12
    listed

ⓘ 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: $294,588
• − Mortgage interest: −$115,392
• − Property taxes: −$30,900
• − Insurance: −$10,300
• − Repairs & maintenance: −$23,567
• − Management: −$23,567
• − Depreciation: −$59,927
• Taxable income: $30,935
• Est. tax owed @ 24.0%: −$7,424
• After-tax cash flow: $54,466/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): 44,658
• Household income: $94,784
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 2198.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 27% Two or more races 20% Asian 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 36% · Canada, China, South Korea
• Languages at home: 45% English-only · Spanish 41% Tagalog/Filipino 5% Other Indo-European 3%

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: ▼ -1578.12%
• Current HPI: 536.5042
• Rent YoY: ▲ 0.21%
• 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

-17.6% since first listed

4 events — show timeline

• 2026-05-09 Price Changed $2,060,000 CRMLS
• 2026-03-14 Listed $2,500,000 CRMLS
• 2001-09-07 Delisted — TheMLS
• 2001-07-12 Listed — TheMLS