9015 Owensmouth Ave · Los Angeles, CA 91304

$5,400,000

70 bd · 40.0 ba · 24,330 sqft · MultiFamily public records · 77 Days on market

Built 1972 1.10 ac lot $222/sqft · 27% below area Est $7458k · 28% 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
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 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

9015 Owensmouth Ave 20-Unit Townhome-Style Asset on 1.10 AcresThis is a rare deal that offers both strong in-place cash flow and significant upside through renovation, ADUs, and future redevelopment. Key Highlights:Key Highlights: * 20-unit apartment community (1972) with large townhome units: (10) 4+2 and (10) 3+1.5 totaling 24,500 SF * Current NOI of approximately $289K with ~46% rental upside to market * Offered at $5.8M (~5% cap, $290K/unit, $236/SF, 11.23 GRM) * Situated on a rare 1.10-acre LAR3-zoned lot in an Opportunity ZoneValue-Add + Development Upside: * Immediate ADU potential: up to 13 additional units (conversion + detached) * By-right development potential of ~60 units * Up to ~102 units achievable with Tier 3 TOC incentives Location Fundamentals: * Positioned just off Topanga Canyon Blvd near Warner Center, CSUN, and Westfield Topanga * Strong rental demand with market rents significantly above current in-place rents * Excellent access to the 101 & 118 freeways and major employment hubsThis is an ideal opportunity for an investor looking to: * Execute a classic value-add strategy with mark-to-market rents * Add ADUs for yield expansion * Or land bank for future high-density redevelopment

Key facts

• Adu potential
• Lar3 zoned lot
• Strong rental demand

Tags

• 20 UNIT TOWNHOME STYLE ASSET
• 1.10 ACRES
• LAR3 ZONED LOT
• ADU POTENTIAL
• BY RIGHT DEVELOPMENT POTENTIAL
• STRONG RENTAL DEMAND

What this means for you Summary

Snapshot

• This is a 10×4bd/2.0ba + 10×3bd/1.5ba units multifamily listed at $5.40M.

Deal economics

• At list price, monthly cash flow is $20k ($245k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($67k rent vs $5.40M).
• Recommended offer: $5.08M (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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 falling (-3.2%/yr); 122 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 $67,394/mo this rent would consume 899% of the median local household income ($90k/yr) (locally 2821% 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 $37k of loan paydown is wiped out by about $162k 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 77 days — a 6% lower offer ($5.08M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $5,076,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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 1972 — 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: 1.25% ✓
• Cap rate: 10.82%
• Cash-on-cash: 16.18%
• DSCR: 1.72
• GRM: 6.7

CMA / ARV

• ARV (median comp): $7,457,923
• List price: $5,400,000
• Delta: -27.59%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.0%
• Equity multiple: 1.15×
• Total profit: $223,799
• Equity at exit: $805,158

10-year hold

• IRR: 10.7%
• Equity multiple: 1.72×
• Total profit: $1,096,060
• Equity at exit: $466,893

Cash invested: $1,512,000 (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 91304

• Rents YoY: -3.2%
• Active inventory: 122
• Price-to-rent: 119.7×

Monthly cashflow live

• Estimated rent: $67,394 high
• Mortgage (P&I): −$28,318
• Tax from tax record: −$2,292 /mo · $27,508/yr
• Insurance: −$2,250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$14,153
• Net cashflow: $20,381

Break-even live

Break-even rent $41,596

Max offer price $5,400,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 10× units	4	2	$37,600
▸ 10× units	3	1.5	$29,800
Total (20 units)			$67,394

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: $1,350,000
• Closing costs: $162,000
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $5,400,000 Active 77 DOM
2. 2026-06-17
   days on market $5,400,000 Active 76 DOM
3. 2026-06-16
   days on market $5,400,000 Active 75 DOM
4. 2026-06-15
   days on market $5,400,000 Active 74 DOM
5. 2026-06-13
   days on market $5,400,000 Active 72 DOM
6. 2026-06-09
   days on market $5,400,000 Active 68 DOM
7. 2026-06-08
   days on market $5,400,000 Active 67 DOM
8. 2026-06-07
   days on market $5,400,000 Active 66 DOM
9. 2026-06-04
   days on market $5,400,000 Active 63 DOM
10. 2026-06-03
    days on market $5,400,000 Active 62 DOM
11. 2026-06-02
    days on market $5,400,000 Active 61 DOM
12. 2026-06-01
    days on market $5,400,000 Active 60 DOM
13. 2026-05-31
    days on market $5,400,000 Active 59 DOM
14. 2026-04-02
    listed $5,800,000 Active 1243-char remark

    Show marketing remark (1243 chars)

    9015 Owensmouth Ave 20-Unit Townhome-Style Asset on 1.10 AcresThis is a rare deal that offers both strong in-place cash flow and significant upside through renovation, ADUs, and future redevelopment. Key Highlights:Key Highlights: * 20-unit apartment community (1972) with large townhome units: (10) 4+2 and (10) 3+1.5 totaling 24,500 SF * Current NOI of approximately $289K with ~46% rental upside to market * Offered at $5.8M (~5% cap, $290K/unit, $236/SF, 11.23 GRM) * Situated on a rare 1.10-acre LAR3-zoned lot in an Opportunity ZoneValue-Add + Development Upside: * Immediate ADU potential: up to 13 additional units (conversion + detached) * By-right development potential of ~60 units * Up to ~102 units achievable with Tier 3 TOC incentives Location Fundamentals: * Positioned just off Topanga Canyon Blvd near Warner Center, CSUN, and Westfield Topanga * Strong rental demand with market rents significantly above current in-place rents * Excellent access to the 101 & 118 freeways and major employment hubsThis is an ideal opportunity for an investor looking to: * Execute a classic value-add strategy with mark-to-market rents * Add ADUs for yield expansion * Or land bank for future high-density redevelopment

ⓘ 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: $27,508 · $2,292/mo
• Projected year-2 tax: $41,040 · $3,420/mo
• Expected delta: +$13,532/yr (+$1,128/mo · 49.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $808,728
• − Mortgage interest: −$302,484
• − Property taxes: −$27,508
• − Insurance: −$27,000
• − Repairs & maintenance: −$64,698
• − Management: −$64,698
• − Depreciation: −$157,091
• Taxable income: $165,248
• Est. tax owed @ 24.0%: −$39,660
• After-tax cash flow: $204,909/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): 52,474
• Household income: $90,007
• Rent vs Own: 49.6% rent · 50.4% own
• Severe rent burden: 2821.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 42% White 32% Asian 17% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Scotch-Irish 2% Romanian 2% Slovak 1%
• Foreign-born: 38% · Canada, Vietnam, China
• Languages at home: 45% English-only · Spanish 34% Other Indo-European 8% Tagalog/Filipino 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: ▼ -805.65%
• Current HPI: 351.4216
• Rent YoY: ▼ -3.21%
• 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

1 event — show timeline

• 2026-04-02 Listed $5,800,000 TheMLS

Property tax history

+1.7%/yr

Latest (2025): $27,508 · +1.9% YoY. Source: county tax records.