100 S Doheny Dr #612

Los Angeles, CA 90048

$749,000D-

3 bd · 2.0 ba · 1,506 sqft · Built 1971 · Condo · Active · 152 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,036/mo
• Mortgage (P&I): −$3,928
• Tax + insurance: −$798
• HOA: −$1,711
• Vac / Maint / Mgmt: −$1,058
• Net cashflow: $-2,459/mo
• Annual: $-29,502/yr
• Cap rate: 2.35%
• Cash-on-cash: -14.07%
• DSCR: 0.37
• 1% rule: 0.67%
• Cash to close: $209,720

Investor read

• This is a 3-bed/2.0-bath condo listed at $749k.
• At list price, monthly cash flow is $-2k ($-30k/yr) — negative.
• To cash-flow at today's rent, offer at most $315k (58.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $504k (32.8% below list).
• It's been on market 152 days — a 12% lower offer ($659k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $315k (58.0% below list) — sets the bar for cash-flow.
• In year one you build about $52k of equity ($5k loan paydown + $47k appreciation (6.2% local appreciation)).
• 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-, 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.
• Zoned schools: West Hollywood Elementary (307 students, 30% FRL); John Burroughs Middle (reading 39%, 1,373 students, 82% FRL); Fairfax Senior High (math 40% / reading 61%, grade D+, #324 of 1,170 statewide, top 28%, 1,632 students, 81% FRL) — zoned schools at 64% FRL track the district average.
• Watch-outs: HOA is 34% of rent.
• Market conditions: Rents flat; 122 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $232k; list at $749k implies a 222% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$83k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $5,036/mo this rent would consume 58% of the median local household income ($103k/yr) (locally 2888% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 152 days. Have you received any prior offers? Is the seller open to a 58% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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?