1662 S Hobart Blvd · Los Angeles, CA 90006

$1,350,000

6 bd · 2.0 ba · 4,378 sqft · MultiFamily public records · 2 Days on market

Built 1922 5,852 sqft lot Est $1007k · 34% over

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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).

• Cash flow +11.2/30.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• DSCR +3.3/10.0
• 1% rule +2.6/10.0
• Appreciation +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Excellent opportunity to own a fully occupied 4-unit income property in Los Angeles. The property consists of two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, providing stable rental income with reliable tenants already in place. Each unit is individually metered for gas and electricity, helping keep operating costs low and making the property relatively easy to manage. Conveniently located near shopping, restaurants, and everyday amenities, with quick access to the 10 and 101 Freeways. Ample street parking is available. Seller is highly motivated and ready to review offers. Don't miss this chance to acquire a stable, income-producing investment property with strong long-term pote

Key facts

• Ample street parking
• Individually metered
• Stable rental income

Tags

• STABLE RENTAL INCOME
• INDIVIDUALLY METERED
• OPERATING COSTS LOW
• CONVENIENTLY LOCATED
• AMPLE STREET PARKING
• INCOME PRODUCING INVESTMENT

Property features AI

Finance

• Other: Property sold or offered as-is; Subject to rent control
• Financial info: Gross income approximately $81,240; Gross operating income approximately $80,814; Net operating income approximately $52,894; Total annual expenses approximately $28,347; Cap rate about 4%; Gross rent multiplier about 16.6; Rent roll varies by unit (actual rents listed per unit)
• HOA & community: Four units total in the complex

Exterior

• Parking: 4+ car garage
• Home design: Residential income property; Quadruplex; One-level units within a 2-story building
• Exterior features: Zoned LAR2; No additional structures

Interior

• Kitchen: Range/Oven included
• Bedrooms: Unit mix includes one-bedroom and two-bedroom units
• Bathrooms: Each unit has one bathroom
• Heating & cooling: Forced air heating; No cooling
• Interior features: No cooling; Forced air heating; Range/Oven

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $-513 ($-6k/yr) — negative. Per door: $-128/mo.
• To cash-flow at today's rent, offer at most $1.26M (6.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.02M (24.5% below list).
• Recommended offer: $1.02M (24.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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); 162 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 $10,196/mo this rent would consume 235% 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 $9k of loan paydown is wiped out by about $40k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 13y 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 $720k; list at $1.35M implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — 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 $1,019,600 (24.5% 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. 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 1922 — 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 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?
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. 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?
9. 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.
10. 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.
11. 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: 0.76% ✗
• Cap rate: 5.84%
• Cash-on-cash: -1.63%
• DSCR: 0.93
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $1,006,940
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2201 Cambridge St	0.16mi	6/4.0	4,704 (+7%)	15mo	$1,080,000	$230	60
1232 S Kenmore Ave	0.60mi	5/5.0 (-1)	3,828 (-13%)	16mo	$850,000	$222	21

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -22.1%
• Equity multiple: 0.25×
• Total profit: $-281,623
• Equity at exit: $201,289

10-year hold

• IRR: -24.9%
• Equity multiple: -0.07×
• Total profit: $-404,054
• Equity at exit: $116,723

Cash invested: $378,000 (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 90006

• Home prices YoY: -1.2%
• Rents YoY: -0.8%
• Active inventory: 162
• Price-to-rent: 42.3×

Monthly cashflow live

• Estimated rent: $10,196 high
• Mortgage (P&I): −$7,080
• Tax from tax record: −$926 /mo · $11,109/yr
• Insurance: −$562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,141
• Net cashflow: $-513

Break-even live

Break-even rent $10,845

Max offer price $1,259,384

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,324
▸ 2× units	1	1	$4,870
Total (4 units)			$10,196

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: $337,500
• Closing costs: $40,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1804 Westmoreland Blvd Los Angeles, CA	7.0	3.5	3671	$10,000	$2.72	24d	1	0.14mi
1404 S Manhattan Pl Los Angeles, CA	5.0	2.0	3175	$5,900	$1.86	7d	1	0.35mi
2754 Kenwood Ave Los Angeles, CA	5.0	2.5	3502	$6,795	$1.94	43d	1	1.01mi
2945 Raymond Ave Los Angeles, CA	7.0	3.0	4464	$9,975	$2.23	43d	1	1.11mi
2640 Menlo Ave Los Angeles, CA	2.0–9.0	2.0–7.5	2185	$8,257	$3.78	1d	2	1.17mi
2679 Menlo Ave Los Angeles, CA	6.0	1.0	3314	$1,000	$0.30	20d	1	1.19mi
1130 S Hoover St Los Angeles, CA	6.0	5.0	3264	$1,100	$0.34	43d	1	1.32mi
1620 S Victoria Ave Los Angeles, CA	5.0	5.0	4038	$7,850	$1.94	43d	1	1.42mi
741 Crenshaw Blvd Los Angeles, CA	7.0	4.0	3430	$8,600	$2.51	14d	1	1.46mi

Listing history 3 events

1. 2026-06-18
   days on market $1,350,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $1,350,000 Active 1 DOM

ⓘ 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: $11,109 · $926/mo
• Projected year-2 tax: $11,109 · $926/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: $122,352
• − Mortgage interest: −$75,621
• − Property taxes: −$11,109
• − Insurance: −$6,750
• − Repairs & maintenance: −$9,788
• − Management: −$9,788
• − Depreciation: −$39,273
• Taxable loss: −$29,977
• Est. tax savings @ 24.0%: +$7,194
• After-tax cash flow: $1,039/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

+1127.3% since first listed

19 events — show timeline

• 2026-06-16 Listed $1,350,000 TheMLS
• 2025-09-30 Listing Removed — CRMLS
• 2025-08-08 Price Changed $1,330,000 CRMLS
• 2025-03-18 Listed $1,380,000 CRMLS
• 2025-03-17 Coming Soon — CRMLS
• 2016-03-02 Listing Removed — CRMLS
• 2016-03-01 Listing Removed — SDMLS
• 2015-11-12 Relisted — CRMLS
• 2015-10-30 Listing Removed — CRMLS
• 2015-10-29 Listed $1,050,000 CRMLS
• 2015-10-28 Listed $1,050,000 SDMLS
• 2014-10-27 Sold (Public Records) $720,000 Public Records
• 2014-03-06 Sold (Public Records) $690,000 Public Records
• 2014-03-06 Sold (MLS) $690,000 TheMLS
• 2014-01-17 Pending — TheMLS
• 2013-12-23 Relisted — TheMLS
• 2013-12-14 Delisted — TheMLS
• 2013-12-10 Listed $680,000 TheMLS
• 1981-05-29 Sold (Public Records) $110,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $11,109 · +1.3% YoY. Source: county tax records.