2116 S Palm Grove Ave · Los Angeles, CA 90016

$1,395,000

1 bd · 1.0 ba · 1,193 sqft · MultiFamily public records · 233 Days on market

Built 1924 5,645 sqft lot $1169/sqft · 280% above area Est $1563k · 11% 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 +12.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• 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

Welcome to this incredible value in Mid City, Fantastic investment opportunity in the rapidly growing Mid City market! This well-maintained 5 units feature over 5000 square feet of unique construction, creating strong value-add potential, 2 units were recently fully renovated  the property is strategically positioned in the most appealing, high growth areas from Downtown L. A. to Culver City's Tech Hub, the neighborhood is experiencing a rapid growth of multifamily development.   This property offers amazing tenant convenience Located in a high-demand rental market, this property is ideal for investors seeking steady income and long-term growth.

Key facts

• On site parking
• Private outdoor area
• Prime location

Tags

• 5 UNIT MULTIFAMILY PROPERTY
• ON SITE PARKING
• PRIVATE OUTDOOR AREA
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 5 × 7-bed/5.0-bath units multifamily listed at $1.40M.

Deal economics

• At list price, monthly cash flow is $17k ($202k/yr) — positive. Per door: $3k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($33k rent vs $1.40M).
• Recommended offer: $1.23M (12.0% below list) — sets the bar for market timing.
• Cap rate 20.8% 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 (+1.1%/yr); 149 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $33,162/mo this rent would consume 541% of the median local household income ($74k/yr) (locally 3450% 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.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $391k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 233 days — a 12% lower offer ($1.23M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y 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 $1.20M; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $1,227,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 233 days. Have you received any prior offers? Is the seller open to a 12% 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 1924 — 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: 2.38% ✓
• Cap rate: 20.80%
• Cash-on-cash: 51.81%
• DSCR: 3.31
• GRM: 3.5

CMA / ARV

• ARV (median comp): $1,563,401
• List price: $1,395,000
• Delta: -10.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.12% rent growth · sell at horizon

5-year hold

• IRR: 47.6%
• Equity multiple: 3.01×
• Total profit: $786,713
• Equity at exit: $207,999

10-year hold

• IRR: 52.5%
• Equity multiple: 5.67×
• Total profit: $1,825,994
• Equity at exit: $120,614

Cash invested: $390,600 (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 90016

• Rents YoY: 1.1%
• Active inventory: 149
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $33,162 high
• Mortgage (P&I): −$7,316
• Tax from tax record: −$1,438 /mo · $17,256/yr
• Insurance: −$581
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,964
• Net cashflow: $16,863

Break-even live

Break-even rent $11,816

Max offer price $1,395,000

Occupancy floor 44%

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

Units	Beds	Baths	Est. rent
▸ 5× units	7	5	$33,160
Total (5 units)			$33,162

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: $348,750
• Closing costs: $41,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4861 W 23rd St Los Angeles, CA	1.0	1.0	700	$2,000	$2.86	43d	1	0.18mi
1915 S Longwood Ave Unit 5 Los Angeles, CA	2.0	1.0	860	$2,595	$3.02	15d	1	0.24mi
2516 Lucerne Ave Los Angeles, CA	2.0	1.0	945	$3,500	$3.70	43d	1	0.25mi
4937 20th St Unit 1/4 Los Angeles, CA	2.0	2.5	1000	$3,250	$3.25	22d	1	0.32mi
1805 S Rimpau Blvd Los Angeles, CA	1.0	1.0	700	$1,900	$2.71	43d	1	0.36mi
2616 Buckingham Rd Unit 2616 Los Angeles, CA	2.0	2.0	1100	$3,200	$2.91	43d	1	0.38mi
1782 S Rimpau Blvd Los Angeles, CA	2.0	2.0	1000	$3,050	$3.05	15d	1	0.40mi
4520 W 18th St Los Angeles, CA	2.0	1.0	730	$2,300	$3.15	43d	1	0.40mi
4837 W 18th St Los Angeles, CA	1.0	1.0	700	$3,200	$4.57	43d	1	0.40mi
2653 Vineyard Ave Los Angeles, CA	2.0	2.5	745	$2,995	$4.02	7d	1	0.41mi
4474 W Adams Blvd Los Angeles, CA	—	1.0	1200	$2,995	$2.50	43d	1	0.45mi
2333 S Mansfield Ave Unit 2 Los Angeles, CA	2.0	1.5	1131	$2,395	$2.12	24d	1	0.46mi
2210 S Sycamore Ave Unit 3 Los Angeles, CA	2.0	1.0	900	$2,395	$2.66	43d	1	0.51mi
1861 S Sycamore Ave Los Angeles, CA	1.0	1.0	805	$1,828	$2.27	43d	1	0.55mi
4546 W 17th St Los Angeles, CA	2.0	1.0	700	$2,450	$3.50	24d	1	0.55mi
4723 W 17th St Los Angeles, CA	2.0	1.0	1325	$2,800	$2.11	5d	1	0.57mi
2401 S Sycamore Ave Unit 6 Los Angeles, CA	2.0	1.0	1000	$2,595	$2.60	7d	1	0.61mi
2240 Crenshaw Blvd Unit C Los Angeles, CA	2.0	2.0	850	$2,700	$3.18	7d	1	0.62mi
1855 S Victoria Ave Unit 1 & 2 Los Angeles, CA	1.0	1.0	776	$1,895	$2.44	43d	1	0.62mi
1876 1/2 Redondo Blvd Los Angeles, CA	2.0	1.0	1500	$3,495	$2.33	43d	1	0.63mi
1874 Redondo Blvd Unit 1876 Los Angeles, CA	2.0	2.0	1500	$3,495	$2.33	43d	1	0.63mi
1874 Redondo Blvd Unit 1874 Los Angeles, CA	2.0	1.0	1500	$3,195	$2.13	43d	1	0.63mi
2132 S Cloverdale Ave Los Angeles, CA	2.0	1.0	1200	$2,895	$2.41	14d	1	0.68mi
4617 Lomita St Unit 6 Los Angeles, CA	1.0	1.0	700	$1,675	$2.39	22d	1	0.70mi
2818 S Bronson Ave Los Angeles, CA	2.0	2.0	950	$2,875	$3.03	43d	1	0.70mi
1666 La Fayette Rd Unit 1670 Los Angeles, CA	1.0	1.0	725	$2,400	$3.31	43d	1	0.71mi
4135 W 22nd Pl Unit 4137 Los Angeles, CA	2.0	1.0	850	$2,895	$3.41	43d	1	0.71mi
4135 W 22nd Pl Unit 2202 Los Angeles, CA	2.0	1.0	850	$2,995	$3.52	43d	1	0.71mi
3035 West Blvd Unit 204 Los Angeles, CA	2.0	1.0	900	$2,695	$2.99	24d	1	0.72mi
1890 S Cochran Ave #13 Los Angeles, CA	2.0	1.5	1066	$3,200	$3.00	44d	1	0.72mi
2515 Alsace Ave Los Angeles, CA	2.0	2.0	1450	$3,499	$2.41	7d	1	0.73mi
5042 Ferndale St Los Angeles, CA	2.0	1.0	1200	$2,600	$2.17	43d	1	0.73mi
5181 W Adams Blvd Los Angeles, CA	1.0	1.0	665	$2,895	$4.35	7d	3	0.74mi
1815 S Cloverdale Ave Los Angeles, CA	2.0	2.0	1270	$3,900	$3.07	43d	1	0.75mi
3031 Wellington Rd Los Angeles, CA	2.0	1.0	1199	$3,099	$2.58	3d	1	0.75mi
1642 La Fayette Rd Los Angeles, CA	1.0	1.0	770	$2,695	$3.50	43d	1	0.75mi
1429 S Sycamore Ave Unit 1429 Los Angeles, CA	2.0	2.0	900	$2,775	$3.08	43d	1	0.77mi
5217 W Adams Blvd Los Angeles, CA	1.0–2.0	1.0–2.0	807	$2,650	$3.28	7d	20	0.79mi
4036 Mont Clair St Los Angeles, CA	1.0	1.0	739	$1,795	$2.43	3d	1	0.80mi
4037 W 28th St Los Angeles, CA	1.0–3.0	1.0–2.0	1000	$1,950	$1.95	7d	2	0.80mi

Listing history 35 events

1. 2026-06-18
   days on market $1,395,000 Active 233 DOM
2. 2026-06-17
   days on market $1,395,000 Active 232 DOM
3. 2026-06-16
   days on market $1,395,000 Active 231 DOM
4. 2026-06-15
   days on market $1,395,000 Active 230 DOM
5. 2026-06-13
   days on market $1,395,000 Active 228 DOM
6. 2026-06-09
   days on market $1,395,000 Active 224 DOM
7. 2026-06-08
   days on market $1,395,000 Active 223 DOM
8. 2026-06-07
   days on market $1,395,000 Active 222 DOM
9. 2026-06-04
   days on market $1,395,000 Active 219 DOM
10. 2026-06-03
    days on market $1,395,000 Active 218 DOM
11. 2026-06-02
    days on market $1,395,000 Active 217 DOM
12. 2026-06-01
    days on market $1,395,000 Active 216 DOM
13. 2026-05-31
    days on market $1,395,000 Active 215 DOM
14. 2026-04-08
    price $1,325,777 665-char remark

    Show marketing remark (665 chars)

    Welcome to this incredible value in Mid City, Fantastic investment opportunity in the rapidly growing Mid City market! This well-maintained 5 units feature over 5000 square feet of unique construction, creating strong value-add potential, 2 units were recently fully renovated  the property is strategically positioned in the most appealing, high growth areas from Downtown L. A. to Culver City's Tech Hub, the neighborhood is experiencing a rapid growth of multifamily development.   This property offers amazing tenant convenience Located in a high-demand rental market, this property is ideal for investors seeking steady income and long-term growth.

15. 2026-01-27
    price $1,350,777 665-char remark

    Show marketing remark (665 chars)

    Welcome to this incredible value in Mid City, Fantastic investment opportunity in the rapidly growing Mid City market! This well-maintained 5 units feature over 5000 square feet of unique construction, creating strong value-add potential, 2 units were recently fully renovated  the property is strategically positioned in the most appealing, high growth areas from Downtown L. A. to Culver City's Tech Hub, the neighborhood is experiencing a rapid growth of multifamily development.   This property offers amazing tenant convenience Located in a high-demand rental market, this property is ideal for investors seeking steady income and long-term growth.

16. 2025-10-28
    listed $1,395,000 Active 665-char remark

    Show marketing remark (703 chars)

    Exceptional investment opportunity in the heart of Los Angeles! Welcome to 2116 S Palm Grove Ave, a well-maintained 5-unit multifamily property offering a perfect blend of classic charm and modern updates. Each unit is thoughtfully designed for comfortable living, featuring spacious interiors filled with natural light. The property includes on-site parking and a private outdoor area for tenant enjoyment. Conveniently located near shopping, dining, schools, and major freeways, this prime location offers excellent rental demand and long-term growth potential. Whether you’re an investor expanding your portfolio or looking for an income-producing property, 2116 S Palm Grove Ave is a must-see!

17. 2025-10-28
    listed $1,395,000 Active 703-char remark

    Show marketing remark (703 chars)

    Exceptional investment opportunity in the heart of Los Angeles! Welcome to 2116 S Palm Grove Ave, a well-maintained 5-unit multifamily property offering a perfect blend of classic charm and modern updates. Each unit is thoughtfully designed for comfortable living, featuring spacious interiors filled with natural light. The property includes on-site parking and a private outdoor area for tenant enjoyment. Conveniently located near shopping, dining, schools, and major freeways, this prime location offers excellent rental demand and long-term growth potential. Whether you’re an investor expanding your portfolio or looking for an income-producing property, 2116 S Palm Grove Ave is a must-see!

18. 2023-08-31
    soldstatus $1,200,000 Sold
19. 2023-08-31
    soldstatus $1,200,000
20. 2023-07-28
    status Pending
21. 2023-06-06
    listed $1,250,000 Active
22. 2020-09-01
    status Pending
23. 2020-08-31
    soldstatus $1,530,000 Sold
24. 2020-08-31
    soldstatus $1,530,000
25. 2020-02-08
    listed $1,400,000 Active
26. 2019-09-09
    historical Withdrawn
27. 2019-09-09
    historical
28. 2018-09-10
    price
29. 2018-08-15
    listed Active
30. 2018-08-15
    listed $1,400,000
31. 2015-11-03
    status Pending
32. 2015-11-03
    historical Cancelled
33. 2015-11-03
    historical
34. 2015-10-23
    listed Active
35. 2015-10-23
    listed $825,000

ⓘ 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: $17,256 · $1,438/mo
• Projected year-2 tax: $17,256 · $1,438/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 ≥89°F today · 21 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: $397,944
• − Mortgage interest: −$78,142
• − Property taxes: −$17,256
• − Insurance: −$6,975
• − Repairs & maintenance: −$31,836
• − Management: −$31,836
• − Depreciation: −$40,582
• Taxable income: $191,319
• Est. tax owed @ 24.0%: −$45,917
• After-tax cash flow: $156,442/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): 46,457
• Household income: $73,516
• Rent vs Own: 65.1% rent · 34.9% own
• Severe rent burden: 3450.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 52% Black 27% Two or more races 18% White 12% Asian 4%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: British 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 30% · Canada, South Korea, China
• Languages at home: 47% English-only · Spanish 47% French/Haitian/Cajun 1% Chinese 1%

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: ▼ -991.94%
• Current HPI: 584.0673
• Rent YoY: ▲ 1.12%
• 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

+60.7% since first listed

22 events — show timeline

• 2026-04-08 Price Changed $1,325,777 CRMLS
• 2026-01-27 Price Changed $1,350,777 CRMLS
• 2025-10-28 Listed $1,395,000 CRMLS
• 2025-10-28 Listed $1,395,000 CRMLS
• 2023-08-31 Sold (Public Records) $1,200,000 Public Records
• 2023-08-31 Sold (MLS) $1,200,000 TheMLS
• 2023-07-28 Pending — TheMLS
• 2023-06-06 Listed $1,250,000 TheMLS
• 2020-09-01 Pending — TheMLS
• 2020-08-31 Sold (Public Records) $1,530,000 Public Records
• 2020-08-31 Sold (MLS) $1,530,000 TheMLS
• 2020-02-08 Listed $1,400,000 TheMLS
• 2019-09-09 Listing Removed — SDMLS
• 2019-09-09 Delisted — TheMLS
• 2018-09-10 Price Changed — TheMLS
• 2018-08-15 Listed $1,400,000 SDMLS
• 2018-08-15 Listed — TheMLS
• 2015-11-03 Pending — TheMLS
• 2015-11-03 Listing Removed — SDMLS
• 2015-11-03 Delisted — TheMLS
• 2015-10-23 Listed — TheMLS
• 2015-10-23 Listed $825,000 SDMLS

Property tax history

+16.5%/yr

Latest (2025): $17,256 · +11.9% YoY. Source: county tax records.