1123 W 18th · Los Angeles, CA 90015

$697,200

5 bd · 4.0 ba · 3,680 sqft · MultiFamily public records · 204 Days on market

Built 1905 8,879 sqft lot $189/sqft · 26% below area Est $939k · 26% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.1/10.0

Multi-family units

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

Listing remarks MLS

Prime Real Estate opportunity in the Heart of Los Angeles! This 4 Unit Property is ideally situated near Downtown Los Angeles, USC, with easy access to shops, dining, and major freeways. Set on a generous sized lot, this Property features a Private, Extended Driveway providing ample off street Parking. Each Unit offers comfortable Living Spaces, making this Home perfect for Investors seeking Passive Income or Owner Occupants looking to live on site while generating Rental Revenue. With strong growth Potential and a Central Location, this is a rare opportunity in one of Los Angeles' most Desirable Neighborhoods!

Key facts

• Heart of los angeles
• Easy access to shops
• 8,879 sq ft lot

Tags

• HEART OF LOS ANGELES
• NEAR DOWNTOWN LOS ANGELES
• EASY ACCESS TO SHOPS
• EASY ACCESS TO DINING
• EASY ACCESS TO MAJOR FREEWAYS
• PRIVATE EXTENDED DRIVEWAY

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/4.0-bath units multifamily listed at $697k.

Deal economics

• At list price, monthly cash flow is $11k ($129k/yr) — positive. Per door: $3k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $697k).
• Recommended offer: $614k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.8% 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 flat; 116 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $19,726/mo this rent would consume 342% of the median local household income ($69k/yr) (locally 3433% 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 $5k of loan paydown is wiped out by about $21k 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.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $195k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 204 days — a 12% lower offer ($614k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $248k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $248k; list at $697k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — 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 $613,536 (12.0% below list)

Questions for the listing agent

1. It's been on market 204 days. Have you received any prior offers? Is the seller open to a 12% 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 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 2.83% ✓
• Cap rate: 24.83%
• Cash-on-cash: 66.21%
• DSCR: 3.95
• GRM: 2.9

CMA / ARV

• ARV (median comp): $939,357
• List price: $697,200
• Delta: -25.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.06% rent growth · sell at horizon

5-year hold

• IRR: 62.1%
• Equity multiple: 3.65×
• Total profit: $516,695
• Equity at exit: $103,955

10-year hold

• IRR: 65.7%
• Equity multiple: 6.71×
• Total profit: $1,115,209
• Equity at exit: $60,281

Cash invested: $195,216 (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 90015

• Home prices YoY: -2.0%
• Rents YoY: 0.1%
• Active inventory: 116
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $19,726 high
• Mortgage (P&I): −$3,656
• Tax from tax record: −$865 /mo · $10,380/yr
• Insurance: −$290
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,142
• Net cashflow: $10,772

Break-even live

Break-even rent $6,091

Max offer price $697,200

Occupancy floor 40%

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

Units	Beds	Baths	Est. rent
▸ 4× units	5	4	$19,724
Total (4 units)			$19,726

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: $174,300
• Closing costs: $20,916
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1347 Valencia St Unit 1347 Los Angeles, CA	4.0	8.0	3724	$2,499	$0.67	43d	1	0.34mi
2317 Scarff St Unit B Los Angeles, CA	5.0	3.5	3000	$5,995	$2.00	43d	1	0.49mi
1180 W Adams Blvd Los Angeles, CA	6.0	5.0	2916	$9,988	$3.43	10d	1	0.61mi
2601 S Hoover St Los Angeles, CA	8.0	1.0–8.0	1477	$9,512	$6.44	1d	1	0.61mi
1130 S Hoover St Los Angeles, CA	6.0	5.0	3264	$1,100	$0.34	43d	1	0.76mi
2640 Menlo Ave Los Angeles, CA	2.0–9.0	2.0–7.5	2185	$6,943	$3.18	1d	2	0.78mi
2679 Menlo Ave Los Angeles, CA	6.0	1.0	3314	$1,000	$0.30	20d	1	0.86mi
1000 W 8th St Los Angeles, CA	4.0	1.0–2.5	1991	$25,607	$12.86	1d	22	1.18mi
2754 Kenwood Ave Los Angeles, CA	5.0	2.5	3502	$6,795	$1.94	43d	1	1.26mi
230 W Olympic Blvd Los Angeles, CA	1.0–5.0	1.0–6.0	2538	$29,339	$11.56	1d	30	1.30mi
1155 W 36th Pl Los Angeles, CA	6.0–8.0	4.0	3090	$1,075	$0.35	14d	1	1.41mi
215 E 29th St Unit 1 Los Angeles, CA	4.0	4.0	4000	$750	$0.19	24d	1	1.44mi

Listing history 37 events

1. 2026-06-18
   days on market $697,200 Active 204 DOM
2. 2026-06-17
   days on market $697,200 Active 203 DOM
3. 2026-06-16
   days on market $697,200 Active 202 DOM
4. 2026-06-15
   days on market $697,200 Active 201 DOM
5. 2026-06-13
   days on market $697,200 Active 199 DOM
6. 2026-06-09
   days on market $697,200 Active 195 DOM
7. 2026-06-08
   days on market $697,200 Active 194 DOM
8. 2026-06-07
   days on market $697,200 Active 193 DOM
9. 2026-06-04
   days on market $697,200 Active 190 DOM
10. 2026-06-03
    days on market $697,200 Active 189 DOM
11. 2026-06-02
    days on market $697,200 Active 188 DOM
12. 2026-06-01
    days on market $697,200 Active 187 DOM
13. 2026-05-31
    days on market $697,200 Active 186 DOM
14. 2026-03-24
    price $697,200 618-char remark

    Show marketing remark (618 chars)

    Prime Real Estate opportunity in the Heart of Los Angeles! This 4 Unit Property is ideally situated near Downtown Los Angeles, USC, with easy access to shops, dining, and major freeways. Set on a generous sized lot, this Property features a Private, Extended Driveway providing ample off street Parking. Each Unit offers comfortable Living Spaces, making this Home perfect for Investors seeking Passive Income or Owner Occupants looking to live on site while generating Rental Revenue. With strong growth Potential and a Central Location, this is a rare opportunity in one of Los Angeles' most Desirable Neighborhoods!

15. 2026-03-02
    price $703,600 618-char remark

    Show marketing remark (618 chars)

    Prime Real Estate opportunity in the Heart of Los Angeles! This 4 Unit Property is ideally situated near Downtown Los Angeles, USC, with easy access to shops, dining, and major freeways. Set on a generous sized lot, this Property features a Private, Extended Driveway providing ample off street Parking. Each Unit offers comfortable Living Spaces, making this Home perfect for Investors seeking Passive Income or Owner Occupants looking to live on site while generating Rental Revenue. With strong growth Potential and a Central Location, this is a rare opportunity in one of Los Angeles' most Desirable Neighborhoods!

16. 2026-02-09
    price $712,400 618-char remark

    Show marketing remark (618 chars)

    Prime Real Estate opportunity in the Heart of Los Angeles! This 4 Unit Property is ideally situated near Downtown Los Angeles, USC, with easy access to shops, dining, and major freeways. Set on a generous sized lot, this Property features a Private, Extended Driveway providing ample off street Parking. Each Unit offers comfortable Living Spaces, making this Home perfect for Investors seeking Passive Income or Owner Occupants looking to live on site while generating Rental Revenue. With strong growth Potential and a Central Location, this is a rare opportunity in one of Los Angeles' most Desirable Neighborhoods!

17. 2026-01-22
    price $759,000 618-char remark

    Show marketing remark (618 chars)

    Prime Real Estate opportunity in the Heart of Los Angeles! This 4 Unit Property is ideally situated near Downtown Los Angeles, USC, with easy access to shops, dining, and major freeways. Set on a generous sized lot, this Property features a Private, Extended Driveway providing ample off street Parking. Each Unit offers comfortable Living Spaces, making this Home perfect for Investors seeking Passive Income or Owner Occupants looking to live on site while generating Rental Revenue. With strong growth Potential and a Central Location, this is a rare opportunity in one of Los Angeles' most Desirable Neighborhoods!

18. 2026-01-05
    price $849,400 618-char remark

    Show marketing remark (618 chars)

    Prime Real Estate opportunity in the Heart of Los Angeles! This 4 Unit Property is ideally situated near Downtown Los Angeles, USC, with easy access to shops, dining, and major freeways. Set on a generous sized lot, this Property features a Private, Extended Driveway providing ample off street Parking. Each Unit offers comfortable Living Spaces, making this Home perfect for Investors seeking Passive Income or Owner Occupants looking to live on site while generating Rental Revenue. With strong growth Potential and a Central Location, this is a rare opportunity in one of Los Angeles' most Desirable Neighborhoods!

19. 2025-12-16
    price $920,000 618-char remark

    Show marketing remark (618 chars)

    Prime Real Estate opportunity in the Heart of Los Angeles! This 4 Unit Property is ideally situated near Downtown Los Angeles, USC, with easy access to shops, dining, and major freeways. Set on a generous sized lot, this Property features a Private, Extended Driveway providing ample off street Parking. Each Unit offers comfortable Living Spaces, making this Home perfect for Investors seeking Passive Income or Owner Occupants looking to live on site while generating Rental Revenue. With strong growth Potential and a Central Location, this is a rare opportunity in one of Los Angeles' most Desirable Neighborhoods!

20. 2025-11-26
    listed $945,000 Active 618-char remark

    Show marketing remark (618 chars)

    Prime Real Estate opportunity in the Heart of Los Angeles! This 4 Unit Property is ideally situated near Downtown Los Angeles, USC, with easy access to shops, dining, and major freeways. Set on a generous sized lot, this Property features a Private, Extended Driveway providing ample off street Parking. Each Unit offers comfortable Living Spaces, making this Home perfect for Investors seeking Passive Income or Owner Occupants looking to live on site while generating Rental Revenue. With strong growth Potential and a Central Location, this is a rare opportunity in one of Los Angeles' most Desirable Neighborhoods!

21. 2025-11-25
    historical
22. 2025-11-10
    price $945,000
23. 2025-10-21
    listed $975,200 Active
24. 2025-06-12
    historical
25. 2025-06-10
    price $814,400
26. 2025-05-16
    price $900,000
27. 2025-04-29
    price $950,000
28. 2024-10-16
    listed $964,600 Active
29. 2024-10-09
    historical
30. 2024-09-24
    listed $964,600 Active
31. 2011-10-12
    historical
32. 2010-08-25
    status Backup Offers Accepted
33. 2010-08-21
    listed $325,000 Active
34. 2010-04-19
    historical
35. 2010-03-30
    status Backup Offers Accepted
36. 2010-03-30
    listed $277,000 Active
37. 1998-08-13
    soldstatus $248,000

ⓘ 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: $10,380 · $865/mo
• Projected year-2 tax: $10,380 · $865/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥90°F today · 22 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: $236,712
• − Mortgage interest: −$39,054
• − Property taxes: −$10,380
• − Insurance: −$3,486
• − Repairs & maintenance: −$18,937
• − Management: −$18,937
• − Depreciation: −$20,282
• Taxable income: $125,636
• Est. tax owed @ 24.0%: −$30,153
• After-tax cash flow: $99,110/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): 24,704
• Household income: $69,268
• Rent vs Own: 88.6% rent · 11.4% own
• Severe rent burden: 3433.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 45% Asian 24% White 16% Two or more races 12% Black 9% Native American 4%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Iranian 2% Scotch-Irish 1% Italian 1%
• Foreign-born: 44% · Canada, China, South Korea
• Languages at home: 34% English-only · Spanish 40% Chinese 10% Korean 8%

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: ▼ -5.78%
• Current HPI: 283.6213
• Rent YoY: ▲ 0.06%
• 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

+181.1% since first listed

24 events — show timeline

• 2026-03-24 Price Changed $697,200 CRMLS
• 2026-03-02 Price Changed $703,600 CRMLS
• 2026-02-09 Price Changed $712,400 CRMLS
• 2026-01-22 Price Changed $759,000 CRMLS
• 2026-01-05 Price Changed $849,400 CRMLS
• 2025-12-16 Price Changed $920,000 CRMLS
• 2025-11-26 Listed $945,000 CRMLS
• 2025-11-25 Listing Removed — CRMLS
• 2025-11-10 Price Changed $945,000 CRMLS
• 2025-10-21 Listed $975,200 CRMLS
• 2025-06-12 Listing Removed — CRMLS
• 2025-06-10 Price Changed $814,400 CRMLS
• 2025-05-16 Price Changed $900,000 CRMLS
• 2025-04-29 Price Changed $950,000 CRMLS
• 2024-10-16 Listed $964,600 CRMLS
• 2024-10-09 Listing Removed — CRMLS
• 2024-09-24 Listed $964,600 CRMLS
• 2011-10-12 Listing Removed — CRMLS
• 2010-08-25 Pending — CRMLS
• 2010-08-21 Listed $325,000 CRMLS
• 2010-04-19 Listing Removed — CRMLS
• 2010-03-30 Pending — CRMLS
• 2010-03-30 Listed $277,000 CRMLS
• 1998-08-13 Sold (Public Records) $248,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $10,380 · +33.7% YoY. Source: county tax records.