1511 S New Hampshire · Los Angeles, CA 90006

$1,185,000

1 bd · 1.0 ba · 658 sqft · MultiFamily public records · 83 Days on market

Built 1905 6,290 sqft lot

---

Why this score? — see what drove the C+ 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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Appreciation +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

RTI SB8 CLEARED | PERMITS PAID | SHOVEL READY | DELIVERED VACANT | Rana Khanjani with Sync Brokerage is proud to present this Exceptional value-add and development opportunity in the Pico-Union / Koreatown corridor. Existing vacant triplex situated on a 6,288 SF lot. Comes with fully approved RTI plans and approximately $70,000 in paid permits—no entitlement risk and ready to build immediately. Approved plans feature a 4-unit project with an attractive unit mix: (2) 5-bed + office / 5-bath units and (2) 4-bed / 5-bath units, each with private 2-car garages and en-suite bathrooms throughout, designed for co-living or high-demand rental use. Prime central location near Koreatown, Downtown LA, USC, and major freeways (I-10 & I-110), making this an ideal build-to-sell or long-term hold opportunity. Renderings may not entirely reflect final plans. Please contact the listing agent for more details.

Key facts

• Delivered vacant
• 6
• Shovel ready

Tags

• RTI SB8 CLEARED
• PERMITS PAID
• SHOVEL READY
• DELIVERED VACANT
• EXISTING VACANT TRIPLEX
• 6

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $1.19M.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.19M).
• Recommended offer: $1.11M (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 soft (-0.8%/yr); 165 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $13,714/mo this rent would consume 316% of the median local household income ($52k/yr) (locally 5727% 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 $8k of loan paydown is wiped out by about $36k 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 83 days — a 6% lower offer ($1.11M) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 12y 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 $875k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — 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 $1,113,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.16% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.44%
• DSCR: 1.51
• GRM: 7.2

CMA / ARV

• ARV (median comp): $6,518,154,441
• List price: $1,185,000
• Delta: -99.98%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.91×
• Total profit: $-30,943
• Equity at exit: $176,687

10-year hold

• IRR: 3.7%
• Equity multiple: 1.23×
• Total profit: $76,594
• Equity at exit: $102,457

Cash invested: $331,800 (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 90006

• Home prices YoY: -1.2%
• Rents YoY: -0.8%
• Active inventory: 165
• Price-to-rent: 27.5×

Monthly cashflow live

• Estimated rent: $13,714 high
• Mortgage (P&I): −$6,214
• Tax from tax record: −$964 /mo · $11,570/yr
• Insurance: −$494
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,880
• Net cashflow: $3,162

Break-even live

Break-even rent $9,712

Max offer price $1,185,000

Occupancy floor 72%

Sensitivity live

Price	-10% $3,833	-5% $3,497	+0% $3,162	+5% $2,826	+10% $2,491
Rent	-10% $2,078	-5% $2,620	+0% $3,162	+5% $3,704	+10% $4,245
Rate	-1.0pp $3,759	-0.5pp $3,463	base $3,162	+0.5pp $2,855	+1.0pp $2,542

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

Units	Beds	Baths	Est. rent
▸ 2× units	5	5	$7,182
▸ 2× units	4	5	$6,532
Total (4 units)			$13,714

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: $296,250
• Closing costs: $35,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1405 S Berendo St Los Angeles, CA	—	1.0	350	$1,141	$3.26	16d	1	0.09mi
1316 S Catalina St Unit 6 Los Angeles, CA	1.0	1.0	650	$1,995	$3.07	44d	1	0.14mi
1332 Menlo Ave Los Angeles, CA	1.0	1.0	694	$2,200	$3.17	44d	1	0.18mi
1330 Menlo Ave Los Angeles, CA	1.0	1.0	688	$2,400	$3.49	44d	1	0.18mi
1726 Menlo Ave Unit 3/4 Los Angeles, CA	1.0	1.0	750	$2,016	$2.69	8d	1	0.26mi
1145 S New Hampshire Ave Unit 12 Los Angeles, CA	2.0	1.0	650	$1,750	$2.69	25d	1	0.32mi
2235 W 14th St Unit 1/4 Los Angeles, CA	1.0	1.0	625	$1,599	$2.56	16d	1	0.32mi
1243 Fedora St Los Angeles, CA	1.0	1.0	550	$1,745	$3.17	44d	1	0.35mi
1475 Venice Blvd Apt 4 Los Angeles, CA	1.0	1.0	600	$1,723	$2.87	44d	1	0.40mi
1245 Magnolia Ave Los Angeles, CA	1.0	1.0	650	$1,553	$2.39	8d	1	0.40mi
1218 1/4 S Mariposa Ave Los Angeles, CA	1.0	1.0	600	$1,795	$2.99	44d	1	0.41mi
1224 Normandie Ave Apt 2 Los Angeles, CA	2.0	1.0	750	$2,000	$2.67	44d	1	0.45mi
1224 Normandie Ave Apt 2 Los Angeles, CA	2.0	1.0	750	$2,000	$2.67	0d	1	0.45mi
1224 Normandie Ave Apt 2 Los Angeles, CA	2.0	1.0	750	$2,000	$2.67	6d	1	0.45mi
2731 W 15th St Unit 08 Los Angeles, CA	—	1.0	400	$1,345	$3.36	44d	1	0.48mi
1025 S Berendo St Unit 304 Los Angeles, CA	—	1.0	509	$1,899	$3.73	44d	1	0.48mi
1025 S Berendo St Unit 404 Los Angeles, CA	—	1.0	509	$1,895	$3.72	19d	1	0.48mi
1025 S Berendo St Unit 504 Los Angeles, CA	—	1.0	620	$1,950	$3.15	23d	1	0.48mi
1029 Westmoreland Ave Unit 29-205 Los Angeles, CA	1.0	1.0	560	$1,650	$2.95	25d	1	0.48mi
1154 S Normandie Ave Los Angeles, CA	1.0	1.0	700	$1,675	$2.39	15d	1	0.49mi
1019 S Westmoreland Ave Los Angeles, CA	1.0–2.0	1.0	680	$1,595	$2.35	14d	4	0.49mi
2047 Cambridge St Unit A Los Angeles, CA	2.0	1.0	650	$1,950	$3.00	44d	1	0.51mi
2047 Cambridge St Los Angeles, CA	2.0	1.0	650	$2,000	$3.08	44d	1	0.51mi
1019 S Catalina St Unit 507 Los Angeles, CA	1.0	1.0	650	$2,800	$4.31	44d	1	0.51mi
1047 Fedora St Unit 601 Los Angeles, CA	1.0	1.0	680	$2,470	$3.63	19d	1	0.52mi
1047 Fedora St Unit 602 Los Angeles, CA	—	1.0	540	$2,269	$4.20	19d	1	0.52mi
1124 S Normandie Ave Los Angeles, CA	1.0	1.0	485	$2,150	$4.43	23d	3	0.52mi
1944 New England St Los Angeles, CA	1.0	1.0	500	$1,700	$3.40	44d	1	0.54mi
1702 S Hoover St Unit 201 Los Angeles, CA	—	1.0	500	$1,500	$3.00	44d	1	0.55mi
980 Menlo Ave Los Angeles, CA	1.0–2.0	1.0–2.0	825	$1,695	$2.05	0d	2	0.56mi
1056 S Normandie Ave Los Angeles, CA	—	1.0	525	$1,387	$2.64	0d	2	0.58mi
2895 W 11th St Unit 5 Los Angeles, CA	1.0	1.0	570	$1,918	$3.36	25d	1	0.59mi
2895 W 11th St Los Angeles, CA	1.0	1.0	570	$1,995	$3.50	25d	1	0.59mi
1425 Alvarado Ter Unit 210 Los Angeles, CA	—	1.0	500	$1,192	$2.38	44d	1	0.59mi
970 Menlo Ave Los Angeles, CA	1.0–2.0	1.0–2.0	800	$1,695	$2.12	0d	6	0.59mi
1939 W Washington Blvd Unit 1941 Los Angeles, CA	1.0	1.0	750	$1,895	$2.53	44d	1	0.59mi
1157 S Hoover St Los Angeles, CA	1.0	1.0	515	$1,841	$3.57	0d	4	0.60mi
1375 W 20th St Unit 1 Los Angeles, CA	2.0	1.0	650	$2,095	$3.22	13d	1	0.61mi
981 Elden Ave Unit 19 Los Angeles, CA	—	1.0	450	$1,425	$3.17	17d	1	0.61mi
1801 S Bonnie Brae St Los Angeles, CA	—	1.0	750	$1,350	$1.80	5d	1	0.61mi

Listing history 42 events

1. 2026-06-21
   days on market $1,185,000 Active 83 DOM
2. 2026-06-18
   days on market $1,185,000 Active 80 DOM
3. 2026-06-17
   days on market $1,185,000 Active 79 DOM
4. 2026-06-16
   days on market $1,185,000 Active 78 DOM
5. 2026-06-15
   days on market $1,185,000 Active 77 DOM
6. 2026-06-13
   days on market $1,185,000 Active 75 DOM
7. 2026-06-09
   days on market $1,185,000 Active 71 DOM
8. 2026-06-08
   days on market $1,185,000 Active 70 DOM
9. 2026-06-07
   days on market $1,185,000 Active 69 DOM
10. 2026-06-04
    days on market $1,185,000 Active 66 DOM
11. 2026-06-03
    days on market $1,185,000 Active 65 DOM
12. 2026-06-02
    days on market $1,185,000 Active 64 DOM
13. 2026-06-01
    days on market $1,185,000 Active 63 DOM
14. 2026-05-31
    days on market $1,185,000 Active 62 DOM
15. 2026-03-30
    listed $1,195,000 Active 917-char remark

    Show marketing remark (917 chars)

    RTI SB8 CLEARED | PERMITS PAID | SHOVEL READY | DELIVERED VACANT | Rana Khanjani with Sync Brokerage is proud to present this Exceptional value-add and development opportunity in the Pico-Union / Koreatown corridor. Existing vacant triplex situated on a 6,288 SF lot. Comes with fully approved RTI plans and approximately $70,000 in paid permits—no entitlement risk and ready to build immediately. Approved plans feature a 4-unit project with an attractive unit mix: (2) 5-bed + office / 5-bath units and (2) 4-bed / 5-bath units, each with private 2-car garages and en-suite bathrooms throughout, designed for co-living or high-demand rental use. Prime central location near Koreatown, Downtown LA, USC, and major freeways (I-10 & I-110), making this an ideal build-to-sell or long-term hold opportunity. Renderings may not entirely reflect final plans. Please contact the listing agent for more details.

16. 2021-11-18
    soldstatus $875,000
17. 2021-09-08
    status Active
18. 2021-08-12
    historical Active Under Contract
19. 2021-08-12
    historical
20. 2021-08-02
    status Active
21. 2021-07-30
    listed $850,000 Active
22. 2021-07-03
    historical
23. 2021-04-17
    price $980,000
24. 2021-03-29
    price $1,030,000
25. 2021-02-16
    listed $1,050,000 Active
26. 2020-12-16
    historical
27. 2020-12-11
    listed $1,100,000 Active
28. 2020-02-26
    listed Active
29. 2020-02-25
    historical Canceled
30. 2020-01-14
    listed Active
31. 2019-11-25
    historical
32. 2019-06-12
    listed $948,000 Active
33. 2017-11-09
    soldstatus $759,000
34. 2017-11-09
    soldstatus $759,000 Closed Sale
35. 2017-11-09
    soldstatus $759,000
36. 2017-09-26
    status Pending Sale
37. 2017-08-30
    price $789,900
38. 2017-05-20
    listed $799,990 Active
39. 2017-05-19
    listed $789,900
40. 2014-08-21
    soldstatus $530,000 Closed
41. 2014-07-16
    status Pending
42. 2014-07-02
    listed $550,000 Active

ⓘ 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: $11,570 · $964/mo
• Projected year-2 tax: $11,570 · $964/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 ≥90°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: $164,568
• − Mortgage interest: −$66,378
• − Property taxes: −$11,570
• − Insurance: −$5,925
• − Repairs & maintenance: −$13,165
• − Management: −$13,165
• − Depreciation: −$34,473
• Taxable income: $19,891
• Est. tax owed @ 24.0%: −$4,774
• After-tax cash flow: $33,168/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): 55,527
• Household income: $51,998
• Rent vs Own: 90.3% rent · 9.7% own
• Severe rent burden: 5727.0

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 Hispanic (71%)
• Race & ethnicity: Hispanic / Latino 71% Asian 19% Two or more races 15% White 5% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 54% · Canada, South Korea, China
• Languages at home: 16% English-only · Spanish 65% Korean 13% Tagalog/Filipino 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: ▼ -4.73%
• Current HPI: 389.2079
• Rent YoY: ▼ -0.80%
• 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

+117.3% since first listed

28 events — show timeline

• 2026-03-30 Listed $1,195,000 CRMLS
• 2021-11-18 Sold (Public Records) $875,000 Public Records
• 2021-09-08 Relisted — CRMLS
• 2021-08-12 Contingent — CRMLS
• 2021-08-12 Listing Removed — CRMLS
• 2021-08-02 Relisted — CRMLS
• 2021-07-30 Listed $850,000 CRMLS
• 2021-07-03 Listing Removed — CRMLS
• 2021-04-17 Price Changed $980,000 CRMLS
• 2021-03-29 Price Changed $1,030,000 CRMLS
• 2021-02-16 Listed $1,050,000 CRMLS
• 2020-12-16 Listing Removed — CRMLS
• 2020-12-11 Listed $1,100,000 CRMLS
• 2020-02-26 Listed — TheMLS
• 2020-02-25 Delisted — TheMLS
• 2020-01-14 Listed — TheMLS
• 2019-11-25 Listing Removed — CRMLS
• 2019-06-12 Listed $948,000 CRMLS
• 2017-11-09 Sold (Public Records) $759,000 Public Records
• 2017-11-09 Sold (MLS) $759,000 CRMLS
• 2017-11-09 Sold (MLS) $759,000 SDMLS
• 2017-09-26 Pending — CRMLS
• 2017-08-30 Price Changed $789,900 CRMLS
• 2017-05-20 Listed $799,990 CRMLS
• 2017-05-19 Listed $789,900 SDMLS
• 2014-08-21 Sold (MLS) $530,000 CRMLS
• 2014-07-16 Pending — CRMLS
• 2014-07-02 Listed $550,000 CRMLS

Property tax history

+5.9%/yr

Latest (2025): $11,570 · +1.4% YoY. Source: county tax records.