9910 S Village Dr

Inglewood, CA 90305

$5,250,000C+

2 bd · 24.0 ba · 9,015 sqft · Built 1958 · MultiFamily · Active · 67 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $58,963/mo
• Mortgage (P&I): −$27,532
• Tax + insurance: −$6,783
• HOA: −$0
• Vac / Maint / Mgmt: −$12,382
• Net cashflow: $12,266/mo
• Annual: $147,189/yr
• Cap rate: 9.10%
• Cash-on-cash: 10.01%
• DSCR: 1.45
• 1% rule: 1.12%
• Cash to close: $1,470,000

Investor read

• This is a 26 × 2-bed/26.0-bath units multifamily listed at $5.25M.
• At list price, monthly cash flow is $12k ($147k/yr) — positive. Per door: $472/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($59k rent vs $5.25M).
• It's been on market 67 days — a 6% lower offer ($4.93M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $4.93M (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $36k of loan paydown is wiped out by about $158k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#431 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B; Watch: health & safety C-, schools D, crime F.
• Inglewood Unified (suburban): math 14% / reading 27% proficiency, ranked #457 of 517 in CA (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+11.2%/yr); 39 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $3.30M; list at $5.25M implies a 59% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $1.47M cash investment doubles in ~8 years — after that, you're playing with house money.
• 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.
• Cap rate 9.1% vs local median 2.6% in Inglewood — 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.
• At $58,963/mo this rent would consume 764% of the median local household income ($93k/yr) (locally 710% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?