1537 N Serrano Ave N · Los Angeles, CA 90027

$3,250,000

1 bd · 1.0 ba · 4,464 sqft · MultiFamily public records · 195 Days on market

Built 1919 0.37 ac lot $728/sqft · 116% above area

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

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

Major price adjustment - Owner wants this sold - Eight charming Craftsman homes on a rare large approximately 16,000 sq. ft. TOC lot in a garden setting, beautiful mature trees, in Hollywood's entertainment and lifestyle neighborhood. Each home has been upgraded with granite counter tops, but still maintain the character and design of the Arts and Crafts design with built in generous sized cabinets, hardwood floors, front porch, side yard and a space for a personal garden for each of the homes. Within walking distance of public transportation, Target, Home Depot, Walgreens, Food 4 Less, Ralphs, Ross For Less, Pets Mart, Starbucks and other retail stores and restaurants. Close to Netflix offices, KTTV, Paramount Studios, KTLA and other entertainment venues. Due to its large lot size, explore the potential for developing a three story, multifamily project. Enjoy a strong gross income of $196,690 per annum during entitlement. All information provided with no warranties expressed or implied. Broker has not verified nor will broker verify the income or expenses or any other information. Buyer to perform its own due diligence and rely on its experts as to the value, current rents and potential market rents, property conditions, lot size or unit sizes.

Key facts

• Front porch
• Garden setting
• Granite counter tops

Tags

• GARDEN SETTING
• MATURE TREES
• GRANITE COUNTER TOPS
• BUILT IN CABINETS
• HARDWOOD FLOORS
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $3.25M.

Deal economics

• At list price, monthly cash flow is $-15k ($-182k/yr) — negative. Per door: $-8k/mo.
• To cash-flow at today's rent, offer at most $766k (76.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $812k (75.0% below list).
• Recommended offer: $766k (76.4% below list) — sets the bar for cash-flow.
• Cap rate 0.7% vs local median 2.1% in Los Angeles — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+2.3%/yr); 120 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $8,117/mo this rent would consume 103% of the median local household income ($95k/yr) (locally 4571% 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 $22k of loan paydown is wiped out by about $98k 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 195 days — a 12% lower offer ($2.86M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $765,675 (76.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 195 days. Have you received any prior offers? Is the seller open to a 76% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.25% ✗
• Cap rate: 0.69%
• Cash-on-cash: -20.01%
• DSCR: 0.11
• GRM: 33.4

CMA / ARV

• ARV (median comp): $2,005,803
• List price: $3,250,000
• Delta: 62.03%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -58.4%
• Equity multiple: -0.65×
• Total profit: $-1,499,099
• Equity at exit: $484,586

10-year hold

• IRR: —
• Equity multiple: -1.83×
• Total profit: $-2,573,958
• Equity at exit: $281,001

Cash invested: $910,000 (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 90027

• Rents YoY: 2.3%
• Active inventory: 120
• Price-to-rent: 66.7×

Monthly cashflow live

• Estimated rent: $8,117 high
• Mortgage (P&I): −$17,043
• Tax from tax record: −$3,190 /mo · $38,284/yr
• Insurance: −$1,354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,705
• Net cashflow: $-15,175

Break-even live

Break-even rent $27,326

Max offer price $765,675

Occupancy floor —

Sensitivity live

Price	-10% $-13,336	-5% $-14,256	+0% $-15,175	+5% $-16,095	+10% $-17,015
Rent	-10% $-15,817	-5% $-15,496	+0% $-15,175	+5% $-14,855	+10% $-14,534
Rate	-1.0pp $-13,539	-0.5pp $-14,349	base $-15,175	+0.5pp $-16,018	+1.0pp $-16,874

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$8,116
Total (2 units)			$8,117

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: $812,500
• Closing costs: $97,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1626 N Kingsley Dr Unit 6 Los Angeles, CA	2.0	1.0	6128	$2,350	$0.38	44d	1	0.26mi
1131 N Kenmore Ave Unit 7 Los Angeles, CA	2.0	1.0	4774	$2,250	$0.47	44d	1	0.73mi
6250 Hollywood Blvd Los Angeles, CA	2.0–3.0	2.0–4.0	3244	$5,100	$1.57	5d	6	1.09mi

Listing history 17 events

1. 2026-06-18
   days on market $3,250,000 Active 195 DOM
2. 2026-06-17
   days on market $3,250,000 Active 194 DOM
3. 2026-06-16
   days on market $3,250,000 Active 193 DOM
4. 2026-06-15
   days on market $3,250,000 Active 192 DOM
5. 2026-06-13
   days on market $3,250,000 Active 190 DOM
6. 2026-06-09
   days on market $3,250,000 Active 186 DOM
7. 2026-06-08
   days on market $3,250,000 Active 185 DOM
8. 2026-06-07
   days on market $3,250,000 Active 184 DOM
9. 2026-06-04
   days on market $3,250,000 Active 181 DOM
10. 2026-06-03
    days on market $3,250,000 Active 180 DOM
11. 2026-06-02
    days on market $3,250,000 Active 179 DOM
12. 2026-06-01
    days on market $3,250,000 Active 178 DOM
13. 2026-05-31
    days on market $3,250,000 Active 177 DOM
14. 2026-04-21
    price $3,250,000 1266-char remark

    Show marketing remark (1266 chars)

    Major price adjustment - Owner wants this sold - Eight charming Craftsman homes on a rare large approximately 16,000 sq. ft. TOC lot in a garden setting, beautiful mature trees, in Hollywood's entertainment and lifestyle neighborhood. Each home has been upgraded with granite counter tops, but still maintain the character and design of the Arts and Crafts design with built in generous sized cabinets, hardwood floors, front porch, side yard and a space for a personal garden for each of the homes. Within walking distance of public transportation, Target, Home Depot, Walgreens, Food 4 Less, Ralphs, Ross For Less, Pets Mart, Starbucks and other retail stores and restaurants. Close to Netflix offices, KTTV, Paramount Studios, KTLA and other entertainment venues. Due to its large lot size, explore the potential for developing a three story, multifamily project. Enjoy a strong gross income of $196,690 per annum during entitlement. All information provided with no warranties expressed or implied. Broker has not verified nor will broker verify the income or expenses or any other information. Buyer to perform its own due diligence and rely on its experts as to the value, current rents and potential market rents, property conditions, lot size or unit sizes.

15. 2026-02-17
    price $3,600,000 1266-char remark

    Show marketing remark (1266 chars)

    Major price adjustment - Owner wants this sold - Eight charming Craftsman homes on a rare large approximately 16,000 sq. ft. TOC lot in a garden setting, beautiful mature trees, in Hollywood's entertainment and lifestyle neighborhood. Each home has been upgraded with granite counter tops, but still maintain the character and design of the Arts and Crafts design with built in generous sized cabinets, hardwood floors, front porch, side yard and a space for a personal garden for each of the homes. Within walking distance of public transportation, Target, Home Depot, Walgreens, Food 4 Less, Ralphs, Ross For Less, Pets Mart, Starbucks and other retail stores and restaurants. Close to Netflix offices, KTTV, Paramount Studios, KTLA and other entertainment venues. Due to its large lot size, explore the potential for developing a three story, multifamily project. Enjoy a strong gross income of $196,690 per annum during entitlement. All information provided with no warranties expressed or implied. Broker has not verified nor will broker verify the income or expenses or any other information. Buyer to perform its own due diligence and rely on its experts as to the value, current rents and potential market rents, property conditions, lot size or unit sizes.

16. 2025-12-05
    listed $3,800,000 Active 1266-char remark

    Show marketing remark (1266 chars)

    Major price adjustment - Owner wants this sold - Eight charming Craftsman homes on a rare large approximately 16,000 sq. ft. TOC lot in a garden setting, beautiful mature trees, in Hollywood's entertainment and lifestyle neighborhood. Each home has been upgraded with granite counter tops, but still maintain the character and design of the Arts and Crafts design with built in generous sized cabinets, hardwood floors, front porch, side yard and a space for a personal garden for each of the homes. Within walking distance of public transportation, Target, Home Depot, Walgreens, Food 4 Less, Ralphs, Ross For Less, Pets Mart, Starbucks and other retail stores and restaurants. Close to Netflix offices, KTTV, Paramount Studios, KTLA and other entertainment venues. Due to its large lot size, explore the potential for developing a three story, multifamily project. Enjoy a strong gross income of $196,690 per annum during entitlement. All information provided with no warranties expressed or implied. Broker has not verified nor will broker verify the income or expenses or any other information. Buyer to perform its own due diligence and rely on its experts as to the value, current rents and potential market rents, property conditions, lot size or unit sizes.

17. 2020-11-17
    soldstatus $2,850,000

ⓘ 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: $38,284 · $3,190/mo
• Projected year-2 tax: $38,284 · $3,190/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥92°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $97,404
• − Mortgage interest: −$182,051
• − Property taxes: −$38,284
• − Insurance: −$16,250
• − Repairs & maintenance: −$7,792
• − Management: −$7,792
• − Depreciation: −$94,545
• Taxable loss: −$249,310
• Est. tax savings @ 24.0%: +$59,834
• After-tax cash flow: $-122,270/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): 46,558
• Household income: $94,521
• Rent vs Own: 80.0% rent · 20.0% own
• Severe rent burden: 4571.0

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 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 23% Asian 12% Two or more races 10% Black 4%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 3% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 28% · Canada, South Korea, China
• Languages at home: 60% English-only · Spanish 17% Other Indo-European 11% 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: ▼ -427.46%
• Current HPI: 494.8966
• Rent YoY: ▲ 2.32%
• 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

+14.0% since first listed

4 events — show timeline

• 2026-04-21 Price Changed $3,250,000 CRMLS
• 2026-02-17 Price Changed $3,600,000 CRMLS
• 2025-12-05 Listed $3,800,000 CRMLS
• 2020-11-17 Sold (Public Records) $2,850,000 Public Records

Property tax history

+16.9%/yr

Latest (2025): $38,284 · +1.0% YoY. Source: county tax records.