3585 S Sepulveda Blvd · Los Angeles, CA 90034

$9,995,000

1512 bd · 1764.0 ba · 6,466 sqft · MultiFamily public records · 70 Days on market

Built 1948 0.95 ac lot $1546/sqft · 291% above area Est $9907k · at est.

---

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 +21.2/30.0
• ARV discount +7.1/15.0
• DSCR +6.8/10.0
• 1% rule +4.3/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• 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: 42 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

Rare opportunity to acquire a 42-unit apartment community in the highly desirable Palms area. The property is comprised of low-rise buildings featuring primarily studio and one-bedroom units, supported by a stable tenant base with many long-term residents. Situated on approximately 41,275 Sq Ft across two separate APNs, the asset offers over 350 Ft of frontage along Sepulveda Blvd, providing strong visibility and long-term positioning. Units are separately metered for gas and electricity, helping to reduce operating expenses. Additional income is generated through three on-site laundry rooms. The property includes approximately 45 parking spaces consisting of open, garage, and carport parking. A central courtyard with a swimming pool enhances tenant appeal and livability. Ideally located near major retail amenities including Trader Joe's, CVS, and the upcoming Whole Foods Market.

Key facts

• Low rise buildings
• Long term residents
• 350 ft of frontage

Tags

• 42 UNIT APARTMENT COMMUNITY
• LOW RISE BUILDINGS
• STABLE TENANT BASE
• LONG TERM RESIDENTS
• 350 FT OF FRONTAGE
• STRONG VISIBILITY

What this means for you Summary

Snapshot

• This is a 42 × 1-bed/1-bath units multifamily listed at $9.99M.

Deal economics

• At list price, monthly cash flow is $14k ($173k/yr) — positive. Per door: $344/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $9.29M (7.1% below list).
• Recommended offer: $9.29M (7.1% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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; 121 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $92,873/mo this rent would consume 1054% of the median local household income ($106k/yr) (locally 4507% 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 $69k of loan paydown is wiped out by about $300k 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 70 days — a 6% lower offer ($9.40M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $760k; list at $9.99M implies a 1215% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $9,287,300 (7.1% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 7% 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 1948 — 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: 0.93% ✗
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 9.0

CMA / ARV

• ARV (median comp): $9,906,853
• List price: $9,995,000
• Delta: 0.89%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.3% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-951,167
• Equity at exit: $1,490,287

10-year hold

• IRR: -3.7%
• Equity multiple: 0.78×
• Total profit: $-619,655
• Equity at exit: $864,185

Cash invested: $2,798,600 (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 90034

• Rents YoY: 0.3%
• Active inventory: 121
• Price-to-rent: 376.7×

Monthly cashflow live

• Estimated rent: $92,873 high
• Mortgage (P&I): −$52,415
• Tax from tax record: −$2,362 /mo · $28,340/yr
• Insurance: −$4,165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$19,503
• Net cashflow: $14,429

Break-even live

Break-even rent $74,609

Max offer price $9,995,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 42× units	1	1	$92,862
Total (42 units)			$92,873

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: $2,498,750
• Closing costs: $299,850
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $9,995,000 Active 70 DOM
2. 2026-06-17
   days on market $9,995,000 Active 69 DOM
3. 2026-06-16
   days on market $9,995,000 Active 68 DOM
4. 2026-06-15
   days on market $9,995,000 Active 67 DOM
5. 2026-06-13
   days on market $9,995,000 Active 65 DOM
6. 2026-06-09
   days on market $9,995,000 Active 61 DOM
7. 2026-06-08
   days on market $9,995,000 Active 60 DOM
8. 2026-06-07
   days on market $9,995,000 Active 59 DOM
9. 2026-06-04
   days on market $9,995,000 Active 56 DOM
10. 2026-06-03
    days on market $9,995,000 Active 55 DOM
11. 2026-06-02
    days on market $9,995,000 Active 54 DOM
12. 2026-06-01
    days on market $9,995,000 Active 53 DOM
13. 2026-05-31
    days on market $9,995,000 Active 52 DOM
14. 2026-04-08
    listed $9,995,000 Active 892-char remark

    Show marketing remark (892 chars)

    Rare opportunity to acquire a 42-unit apartment community in the highly desirable Palms area. The property is comprised of low-rise buildings featuring primarily studio and one-bedroom units, supported by a stable tenant base with many long-term residents. Situated on approximately 41,275 Sq Ft across two separate APNs, the asset offers over 350 Ft of frontage along Sepulveda Blvd, providing strong visibility and long-term positioning. Units are separately metered for gas and electricity, helping to reduce operating expenses. Additional income is generated through three on-site laundry rooms. The property includes approximately 45 parking spaces consisting of open, garage, and carport parking. A central courtyard with a swimming pool enhances tenant appeal and livability. Ideally located near major retail amenities including Trader Joe's, CVS, and the upcoming Whole Foods Market.

15. 2024-05-10
    historical $1,950
16. 2024-04-10
    listed $1,950
17. 2024-04-10
    historical $1,950
18. 2023-12-13
    listed $1,950
19. 1999-06-15
    soldstatus $760,000
20. 1999-06-10
    soldstatus $1,090,000
21. 1991-07-10
    soldstatus $886,500

ⓘ 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: $28,340 · $2,362/mo
• Projected year-2 tax: $75,962 · $6,330/mo
• Expected delta: +$47,622/yr (+$3,968/mo · 168.0%)

ⓘ 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 ≥85°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $1,114,476
• − Mortgage interest: −$559,875
• − Property taxes: −$28,340
• − Insurance: −$49,975
• − Repairs & maintenance: −$89,158
• − Management: −$89,158
• − Depreciation: −$290,764
• Taxable income: $7,205
• Est. tax owed @ 24.0%: −$1,729
• After-tax cash flow: $171,413/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): 57,075
• Household income: $105,701
• Rent vs Own: 79.6% rent · 20.4% own
• Severe rent burden: 4507.0

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 0.73)
• Race & ethnicity: White 41% Hispanic / Latino 26% Asian 18% Two or more races 13% Black 9%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Scotch-Irish 3% Romanian 3% Italian 2%
• Foreign-born: 30% · Canada, China, South Korea
• Languages at home: 58% English-only · Spanish 21% Other Indo-European 6% Chinese 4%

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: ▼ -1346.08%
• Current HPI: 445.7709
• Rent YoY: ▲ 0.30%
• 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

+1027.5% since first listed

8 events — show timeline

• 2026-04-08 Listed $9,995,000 TheMLS
• 2024-05-10 Rental Removed $1,950 APPFOLIO
• 2024-04-10 Listed for Rent $1,950 APPFOLIO
• 2024-04-10 Rental Removed $1,950 APPFOLIO
• 2023-12-13 Listed for Rent $1,950 APPFOLIO
• 1999-06-15 Sold (Public Records) $760,000 Public Records
• 1999-06-10 Sold (Public Records) $1,090,000 Public Records
• 1991-07-10 Sold (Public Records) $886,500 Public Records

Property tax history

+1.7%/yr

Latest (2025): $28,340 · +1.8% YoY. Source: county tax records.