813 Westbourne Dr · West Hollywood, CA 90069

$5,350,000

24 bd · 20.0 ba · 15,288 sqft · MultiFamily public records · 36 Days on market

Built 1957 0.31 ac lot

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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
• Appreciation +5.4/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 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

20-unit multifamily investment located in prime West Hollywood. The property features 2.69% interest-only assumable financing through December 2030, offering strong leveraged cash flow. The property offers strong in-place income with an approx. cash on cash return above 7.17%, a 12.50 GRM and 4.54% cap rate, equating to approximately $267,500 per unit and $350 per square foot. Built in 1957, the 15,288 SF building sits on a 13,399 SF WDR3A-zoned lot and consists entirely of one-bedroom, one-bath units a consistently strong-performing unit type in this supply-constrained submarket. The mid-century courtyard layout provides rental appeal with value-add potential through interior renovations.

Key facts

• Value-add potential
• Prime west hollywood
• Interior renovations

Tags

• MULTIFAMILY INVESTMENT
• PRIME WEST HOLLYWOOD
• STRONG IN-PLACE INCOME
• MID-CENTURY COURTYARD LAYOUT
• VALUE-ADD POTENTIAL
• INTERIOR RENOVATIONS

What this means for you Summary

Snapshot

• This is a 20 × 24-bed/20.0-bath units multifamily listed at $5.35M.

Deal economics

• At list price, monthly cash flow is $45k ($542k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($100k rent vs $5.35M).
• Recommended offer: $5.19M (3.0% below list) — sets the bar for market timing.
• Cap rate 16.4% vs local median 1.5% in West Hollywood — 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 70/100 on livability (#239 in CA) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: health & safety C-, crime F, cost of living 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 soft (-0.5%/yr); 379 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 $100,042/mo this rent would consume 1112% of the median local household income ($108k/yr) (locally 2412% 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 $78k of equity ($37k loan paydown + $41k appreciation (0.8% 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 (0.8% appreciation + 0.0% rent growth), your $1.50M cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$371k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($5.19M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $2.17M; list at $5.35M implies a 147% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $5,189,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% 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 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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: 1.87% ✓
• Cap rate: 16.42%
• Cash-on-cash: 36.16%
• DSCR: 2.61
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.76% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 35.5%
• Equity multiple: 2.75×
• Total profit: $2,619,389
• Equity at exit: $1,760,551

10-year hold

• IRR: 36.4%
• Equity multiple: 4.86×
• Total profit: $5,777,305
• Equity at exit: $2,289,517

Cash invested: $1,498,000 (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 90069

• Home prices YoY: 0.2%
• Rents YoY: -0.5%
• Active inventory: 379
• Price-to-rent: 89.1×

Monthly cashflow live

• Estimated rent: $100,042 medium
• Mortgage (P&I): −$28,056
• Tax from tax record: −$3,611 /mo · $43,331/yr
• Insurance: −$2,229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$21,009
• Net cashflow: $45,137

Break-even live

Break-even rent $42,906

Max offer price $5,350,000

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 20× units	24	20	$100,040
Total (20 units)			$100,042

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: $1,337,500
• Closing costs: $160,500
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-14
   status Pending
2. 2026-03-09
   listed $5,350,000 Active
3. 2002-06-27
   soldstatus $2,165,000
4. 2000-05-05
   soldstatus $1,540,000
5. 1998-02-10
   soldstatus $1,300,000
6. 1989-02-13
   soldstatus $1,250,000
7. 1988-06-23
   soldstatus $972,000
8. 1988-06-23
   soldstatus $972,000

ⓘ 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: $43,331 · $3,611/mo
• Projected year-2 tax: $43,331 · $3,611/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 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥88°F today · 23 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: $1,200,504
• − Mortgage interest: −$299,683
• − Property taxes: −$43,331
• − Insurance: −$26,750
• − Repairs & maintenance: −$96,040
• − Management: −$96,040
• − Depreciation: −$155,636
• Taxable income: $483,023
• Est. tax owed @ 24.0%: −$115,925
• After-tax cash flow: $425,720/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 — West Hollywood

• Score: 70/100
• State rank: #239
• US rank: #7852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Hollywood, CA
• County: Los Angeles County · 9,444,647 people
• City population: 20,961
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 20,961
• Household income: $107,987
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2412.0

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% Hispanic / Latino 8% Two or more races 8% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Scotch-Irish 6% Lithuanian 4% Italian 4%
• Foreign-born: 21% · Canada, China, Jamaica
• Languages at home: 77% English-only · Spanish 7% Other Indo-European 4% Russian/Polish/Slavic 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: ▲ 0.76%
• Current HPI: 323.1842
• Rent YoY: ▼ -0.54%
• 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

+450.4% since first listed

8 events — show timeline

• 2026-04-14 Pending — TheMLS
• 2026-03-09 Listed $5,350,000 TheMLS
• 2002-06-27 Sold (Public Records) $2,165,000 Public Records
• 2000-05-05 Sold (Public Records) $1,540,000 Public Records
• 1998-02-10 Sold (Public Records) $1,300,000 Public Records
• 1989-02-13 Sold (Public Records) $1,250,000 Public Records
• 1988-06-23 Sold (Public Records) $972,000 Public Records
• 1988-06-23 Sold (Public Records) $972,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $43,331 · +2.7% YoY. Source: county tax records.