5144 W 21st St · Los Angeles, CA 90016

$1,950,000

36 bd · 36.0 ba · 4,612 sqft · MultiFamily public records · 486 Days on market

Built 1964 8,324 sqft lot $423/sqft · 33% above area Est $1466k · 33% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 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

New roof has been installed! Don't miss this prime investment opportunity in a hot market located in Mid City, Los Angeles. All units have been well kept. A two story six (6) unit apartment building all comprised of (2)Studios w/ 1bath and (4)1bed/1bath, with close proximity to the 10 Freeway and the Westside, this property offers tenants convenient access to freeway with parking on premises, units have their own garage, and easy access to bus lines for work or school. All tenants on month-to-month. All units are separately metered for gas and electric. Tenant breakdown and financials will be provided upon request. Buyer to verify with appropriate entities and satisfy self. Buyers to cooperate with seller 1031 exchange. Property will ONLY be shown once offer is accepted. Please do not disturb tenants.

Key facts

• New roof
• Parking on premises
• 8,324 sq ft lot

Tags

• NEW ROOF
• CLOSE PROXIMITY TO FREEWAY
• PARKING ON PREMISES
• EASY ACCESS TO BUS LINES

What this means for you Summary

Snapshot

• This is a 12 × 3-bed/?-bath units multifamily listed at $1.95M.

Deal economics

• At list price, monthly cash flow is $13k ($157k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($34k rent vs $1.95M).
• Recommended offer: $1.72M (12.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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 (+1.1%/yr); 149 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $33,651/mo this rent would consume 549% of the median local household income ($74k/yr) (locally 3450% 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 $13k of loan paydown is wiped out by about $58k 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 + 1.1% rent growth), your $546k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 486 days — a 12% lower offer ($1.72M) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 6y 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 $80k; list at $1.95M implies a 2338% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,716,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 486 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 1964 — 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: 1.73% ✓
• Cap rate: 14.36%
• Cash-on-cash: 28.81%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

• ARV (median comp): $1,466,070
• List price: $1,950,000
• Delta: 33.01%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.12% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 1.84×
• Total profit: $456,911
• Equity at exit: $290,751

10-year hold

• IRR: 27.9%
• Equity multiple: 3.25×
• Total profit: $1,228,062
• Equity at exit: $168,600

Cash invested: $546,000 (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 90016

• Rents YoY: 1.1%
• Active inventory: 149
• Price-to-rent: 57.9×

Monthly cashflow live

• Estimated rent: $33,651 medium
• Mortgage (P&I): −$10,226
• Tax est. 1.5%: −$2,438 /mo · $29,250/yr
• Insurance: −$812
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,067
• Net cashflow: $13,108

Break-even live

Break-even rent $17,058

Max offer price $1,950,000

Occupancy floor 56%

Sensitivity live

Price	-10% $14,456	-5% $13,782	+0% $13,108	+5% $12,434	+10% $11,761
Rent	-10% $10,450	-5% $11,779	+0% $13,108	+5% $14,437	+10% $15,767
Rate	-1.0pp $14,090	-0.5pp $13,604	base $13,108	+0.5pp $12,603	+1.0pp $12,089

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

Units	Beds	Baths	Est. rent
▸ 12× units	3	—	$33,648
Total (12 units)			$33,651

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: $487,500
• Closing costs: $58,500
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-21
   days on market $1,950,000 Active 486 DOM
2. 2026-06-18
   days on market $1,950,000 Active 483 DOM
3. 2026-06-17
   days on market $1,950,000 Active 482 DOM
4. 2026-06-16
   days on market $1,950,000 Active 481 DOM
5. 2026-06-15
   days on market $1,950,000 Active 480 DOM
6. 2026-06-13
   days on market $1,950,000 Active 478 DOM
7. 2026-06-09
   days on market $1,950,000 Active 474 DOM
8. 2026-06-08
   days on market $1,950,000 Active 473 DOM
9. 2026-06-07
   days on market $1,950,000 Active 472 DOM
10. 2026-06-04
    days on market $1,950,000 Active 469 DOM
11. 2026-06-03
    days on market $1,950,000 Active 468 DOM
12. 2026-06-02
    days on market $1,950,000 Active 467 DOM
13. 2026-06-01
    days on market $1,950,000 Active 466 DOM
14. 2026-05-31
    days on market $1,950,000 Active 465 DOM
15. 2025-02-20
    listed $1,950,000 Active 812-char remark

    Show marketing remark (812 chars)

    New roof has been installed! Don't miss this prime investment opportunity in a hot market located in Mid City, Los Angeles. All units have been well kept. A two story six (6) unit apartment building all comprised of (2)Studios w/ 1bath and (4)1bed/1bath, with close proximity to the 10 Freeway and the Westside, this property offers tenants convenient access to freeway with parking on premises, units have their own garage, and easy access to bus lines for work or school. All tenants on month-to-month. All units are separately metered for gas and electric. Tenant breakdown and financials will be provided upon request. Buyer to verify with appropriate entities and satisfy self. Buyers to cooperate with seller 1031 exchange. Property will ONLY be shown once offer is accepted. Please do not disturb tenants.

16. 2025-02-18
    listed $1,950,000 Active 811-char remark

    Show marketing remark (811 chars)

    New roof has been installed! Don't miss this prime investment opportunity in a hot market located in Mid City, Los Angeles. All units have been well kept. A two story six (6) unit apartment building all comprised of (2)Studios w/ 1bath and (4)1bed/1bath, with close proximity to the 10 Freeway and the Westside, this property offers tenants convenient access to freeway with parking on premises, units have their own garage, and easy access to bus lines for work or school. All tenants on month-to-month. All units are separately metered for gas and electric. Tenant breakdown and financials will be provided upon request. Buyer to verify with appropriate entities and satisfy self. Buyers to cooperate with seller 1031 exchange. Property will ONLY be shown once offer is acceptd. Please do not disturb tenants.

17. 2025-02-14
    historical
18. 2025-02-14
    historical
19. 2024-12-19
    listed $1,950,000 Active
20. 2024-08-16
    listed $1,950,000 Active
21. 2024-08-16
    listed $1,950,000 Active
22. 2024-08-12
    historical
23. 2023-12-27
    listed $1,950,000 Active
24. 2023-12-15
    historical
25. 2023-08-30
    listed $1,950,000 Active
26. 2023-08-11
    historical
27. 2023-04-12
    listed $1,950,000 Active
28. 2022-11-28
    historical
29. 2022-02-24
    listed $2,000,000 Active
30. 2021-11-30
    historical
31. 2021-09-22
    price
32. 2021-06-03
    price
33. 2020-12-18
    listed $1,900,000
34. 2020-09-17
    listed Active
35. 1978-09-13
    soldstatus $80,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 80% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥88°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: $403,812
• − Mortgage interest: −$109,230
• − Property taxes: −$29,250
• − Insurance: −$9,750
• − Repairs & maintenance: −$32,305
• − Management: −$32,305
• − Depreciation: −$56,727
• Taxable income: $134,244
• Est. tax owed @ 24.0%: −$32,219
• After-tax cash flow: $125,081/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): 46,457
• Household income: $73,516
• Rent vs Own: 65.1% rent · 34.9% own
• Severe rent burden: 3450.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 52% Black 27% Two or more races 18% White 12% Asian 4%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: British 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 30% · Canada, South Korea, China
• Languages at home: 47% English-only · Spanish 47% French/Haitian/Cajun 1% Chinese 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: ▼ -991.94%
• Current HPI: 584.0673
• Rent YoY: ▲ 1.12%
• 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

+2337.5% since first listed

21 events — show timeline

• 2025-02-20 Listed $1,950,000 CRMLS
• 2025-02-18 Listed $1,950,000 GEMLS
• 2025-02-14 Listing Removed — CRMLS
• 2025-02-14 Listing Removed — CRMLS
• 2024-12-19 Listed $1,950,000 GEMLS
• 2024-08-16 Listed $1,950,000 CRMLS
• 2024-08-16 Listed $1,950,000 CRMLS
• 2024-08-12 Listing Removed — CRMLS
• 2023-12-27 Listed $1,950,000 CRMLS
• 2023-12-15 Listing Removed — CRMLS
• 2023-08-30 Listed $1,950,000 CRMLS
• 2023-08-11 Listing Removed — CRMLS
• 2023-04-12 Listed $1,950,000 CRMLS
• 2022-11-28 Listing Removed — CRMLS
• 2022-02-24 Listed $2,000,000 CRMLS
• 2021-11-30 Listing Removed — SDMLS
• 2021-09-22 Price Changed — TheMLS
• 2021-06-03 Price Changed — TheMLS
• 2020-12-18 Listed $1,900,000 SDMLS
• 2020-09-17 Listed — TheMLS
• 1978-09-13 Sold (Public Records) $80,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $3,290 · +2.3% YoY. Source: county tax records.