1628 W 45th St · Los Angeles, CA 90062

$1,699,000

4 bd · 16.0 ba · 8,820 sqft · MultiFamily public records · 93 Days on market

Built 1927 5,613 sqft lot $193/sqft · 24% below area Est $2250k · 24% 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
• Rent growth +5.0/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 16 units. confirmed

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

16-UNITS IN VERMONT SQUARE| $121K per door | 7.28% CAP | 3 VACANT UNITS | Rare opportunity to acquire 1628 W. 45th Street, a 16-unit apartment building in the highly sought after Vermont Square neighborhood. Offered at $1,950,000 ($121K per door, ~$199/SF) with strong in-place income and immediate upside through 3 vacant units and rental repositioning. Well-located near Western & Vernon with close proximity to Exposition Park, Leimert Park, and the Crenshaw corridor. Features on-site laundry hookups.

Key facts

• 3 vacant units
• 5,613 sq ft lot
• Built 1927

Tags

• 16 UNIT APARTMENT BUILDING
• 3 VACANT UNITS
• ON-SITE LAUNDRY HOOKUPS

What this means for you Summary

Snapshot

• This is a 16 × 4-bed/1-bath units multifamily listed at $1.70M.

Deal economics

• At list price, monthly cash flow is $30k ($356k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($51k rent vs $1.70M).
• Recommended offer: $1.55M (9.0% below list) — sets the bar for market timing.
• Cap rate 27.2% 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 rising fast (+14.5%/yr); 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $50,919/mo this rent would consume 903% of the median local household income ($68k/yr) (locally 1890% 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 $12k of loan paydown is wiped out by about $51k 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 + 8.0% rent growth), your $476k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($1.55M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $251k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — 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 $1,546,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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 1927 — 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: 3.00% ✓
• Cap rate: 27.22%
• Cash-on-cash: 74.75%
• DSCR: 4.33
• GRM: 2.8

CMA / ARV

• ARV (median comp): $2,250,000
• List price: $1,699,000
• Delta: -24.49%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 80.0%
• Equity multiple: 4.95×
• Total profit: $1,881,121
• Equity at exit: $253,326

10-year hold

• IRR: 84.8%
• Equity multiple: 12.13×
• Total profit: $5,293,232
• Equity at exit: $146,898

Cash invested: $475,720 (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 90062

• Rents YoY: 14.5%
• Active inventory: 86
• Price-to-rent: 44.5×

Monthly cashflow live

• Estimated rent: $50,919 high
• Mortgage (P&I): −$8,910
• Tax from tax record: −$976 /mo · $11,717/yr
• Insurance: −$708
• HOA: −$0
• Vacancy / Maint / Mgmt: −$10,693
• Net cashflow: $29,632

Break-even live

Break-even rent $13,410

Max offer price $1,699,000

Occupancy floor 37%

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

Units	Beds	Baths	Est. rent
▸ 16× units	4	1	$50,912
Total (16 units)			$50,919

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: $424,750
• Closing costs: $50,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1150 W 38th St Los Angeles, CA	3.0–19.0	3.0–18.5	4527	$4,969	$1.10	1d	9	1.19mi

Listing history 15 events

1. 2026-06-18
   days on market $1,699,000 Active 93 DOM
2. 2026-06-17
   days on market $1,699,000 Active 92 DOM
3. 2026-06-16
   days on market $1,699,000 Active 91 DOM
4. 2026-06-15
   days on market $1,699,000 Active 90 DOM
5. 2026-06-13
   pricedays on market $1,699,000 Active 88 DOM
6. 2026-06-09
   days on market $1,950,000 Active 84 DOM
7. 2026-06-08
   days on market $1,950,000 Active 83 DOM
8. 2026-06-07
   days on market $1,950,000 Active 82 DOM
9. 2026-06-04
   days on market $1,950,000 Active 79 DOM
10. 2026-06-03
    days on market $1,950,000 Active 78 DOM
11. 2026-06-02
    days on market $1,950,000 Active 77 DOM
12. 2026-06-01
    days on market $1,950,000 Active 76 DOM
13. 2026-05-31
    days on market $1,950,000 Active 75 DOM
14. 2026-03-17
    listed $1,950,000 Active 512-char remark

    Show marketing remark (512 chars)

    16-UNITS IN VERMONT SQUARE| $121K per door | 7.28% CAP | 3 VACANT UNITS | Rare opportunity to acquire 1628 W. 45th Street, a 16-unit apartment building in the highly sought after Vermont Square neighborhood. Offered at $1,950,000 ($121K per door, ~$199/SF) with strong in-place income and immediate upside through 3 vacant units and rental repositioning. Well-located near Western & Vernon with close proximity to Exposition Park, Leimert Park, and the Crenshaw corridor. Features on-site laundry hookups.

15. 2025-11-19
    listed 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: $11,717 · $976/mo
• Projected year-2 tax: $12,912 · $1,076/mo
• Expected delta: +$1,195/yr (+$100/mo · 10.2%)

ⓘ 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 ≥88°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: $611,028
• − Mortgage interest: −$95,170
• − Property taxes: −$11,717
• − Insurance: −$8,495
• − Repairs & maintenance: −$48,882
• − Management: −$48,882
• − Depreciation: −$49,425
• Taxable income: $348,456
• Est. tax owed @ 24.0%: −$83,629
• After-tax cash flow: $271,954/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): 32,715
• Household income: $67,701
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1890.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 26% Two or more races 15% White 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: British 3%
• Foreign-born: 38% · Canada, South Korea, Guatemala
• Languages at home: 36% English-only · Spanish 61% Korean 1% French/Haitian/Cajun 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: ▼ -670.48%
• Current HPI: 500.9289
• Rent YoY: ▲ 14.48%
• 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

2 events — show timeline

• 2026-03-17 Listed $1,950,000 TheMLS
• 2025-11-19 Listed — TheMLS

Property tax history

+1.6%/yr

Latest (2025): $11,717 · +2.1% YoY. Source: county tax records.