8616 Gregory Way · Los Angeles, CA 90035

$2,299,000

7 bd · 7.0 ba · 5,259 sqft · MultiFamily public records · 56 Days on market

Built 1960 5,839 sqft lot $437/sqft · at area comps Est $2248k · at est.

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Why this score? — see what drove the D 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 +11.4/30.0
• ARV discount +6.5/15.0
• Appreciation +6.4/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 1% rule +2.0/10.0

Multi-family units

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

Listing remarks

Charming 1960s traditional 4-unit property in a prime Beverly Hills adjacent location, offering an excellent unit mix and strong owner-user potential. The standout rear townhouse-style unit features 3 spacious bedrooms, 2.5 bathrooms, and a large private yard. Also includes a private Washer/Dryer. Ideal for comfortable living and entertaining. The property also includes two well-appointed 2-bedroom, 2-bath units and one 1-bedroom, 1-bath unit. Approximately 40% upside in the rents. Amenities include three oversized garages, driveway parking, Laundry Room, and ample street parking. Conveniently located near parks, Beverly Hills, Century City, premier shopping, dining, and public transportati

Key facts

• Large private yard
• Ample street parking
• Laundry room

Tags

• LARGE PRIVATE YARD
• PRIVATE WASHER DRYER
• THREE OVERSIZED GARAGES
• DRIVEWAY PARKING
• LAUNDRY ROOM
• AMPLE STREET PARKING

Property features AI

Finance

• Financial info: Gross income approximately $135,334; Gross operating income approximately $131,274; Net operating income approximately $76,051; Total annual expenses approximately $55,223; Cap rate about 3.31; Gross rent multiplier about 16.9; Rents (actual): Unit1 $1,882; Unit2 $4,428; Unit3 $2,673; Unit4 $2,295; Projected rents: Unit1 $3,850; Unit2 $5,500; Unit3 $3,850; Unit4 $2,750; Unit types: Apartments (mix of 1–4 bedroom unit types)
• HOA & community: Four units in the complex

Exterior

• Parking: Total of 8 parking spaces; 3 covered parking spaces; 5 uncovered/open parking spaces; Driveway and garage access
• Home design: Residential income property; Multi-level (2 total floors)
• Construction: Single building (1 building)
• Exterior features: No other structures noted; Zoned LAR3

Interior

• Kitchen: Garbage disposal; Range/oven
• Bedrooms: One 2-bedroom unit; One 3-bedroom unit; One 2-bedroom unit; One 1-bedroom unit
• Bathrooms: Two bathrooms (in 2-bed unit); Two and a half bathrooms (in 3-bed unit); Two bathrooms (in 2-bed unit); One bathroom (in 1-bed unit)
• Heating & cooling: Wall/Window unit cooling; Other type heating
• Interior features: Wall/Window unit cooling; Other type heating; Garbage disposal; Range/oven

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/2.5-bath units multifamily listed at $2.30M.

Deal economics

• At list price, monthly cash flow is $-807 ($-10k/yr) — negative. Per door: $-202/mo.
• To cash-flow at today's rent, offer at most $2.16M (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.60M (30.4% below list).
• Recommended offer: $1.60M (30.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 soft (-1.6%/yr); 106 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $16,005/mo this rent would consume 183% of the median local household income ($105k/yr) (locally 2317% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $78k of equity ($16k loan paydown + $62k appreciation (2.7% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$196k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($2.23M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $160k; list at $2.30M implies a 1337% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $1,600,500 (30.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.70% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.50%
• DSCR: 0.93
• GRM: 12.0

CMA / ARV

• ARV (median comp): $2,248,355
• List price: $2,299,000
• Delta: 2.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1026 S Shenandoah St	0.31mi	8/8.0 (+1)	5,294 (+1%)	8mo	$2,152,000	$406	68
1111 S Holt Ave	0.40mi	7/7.0	4,630 (-12%)	6mo	$1,785,000	$386	56
144 N Clark Dr	0.50mi	8/8.0 (+1)	5,840 (+11%)	1mo	$3,752,000	$642	49
8701 W Olympic Blvd	0.26mi	8/4.0 (+1)	4,681 (-11%)	10mo	$1,960,000	$419	44
6356 Orange St	0.69mi	8/4.0 (+1)	5,426 (+3%)	3mo	$1,520,000	$280	43
6120 Packard St	0.60mi	7/7.0	4,864 (-8%)	22mo	$1,730,625	$356	41
215 S Gale Dr	0.28mi	8/4.0 (+1)	4,656 (-12%)	12mo	$2,226,000	$478	40
1200 S Alfred St	0.59mi	6/4.0 (-1)	4,814 (-8%)	2mo	$2,278,950	$473	40
128 S Oakhurst Dr	0.70mi	8/6.0 (+1)	5,532 (+5%)	20mo	$3,018,260	$546	33
6420 Orange St	0.59mi	6/4.0 (-1)	4,687 (-11%)	7mo	$1,700,000	$363	32
6381 W 6th St	0.68mi	6/6.0 (-1)	4,528 (-14%)	14mo	$1,984,900	$438	24
6346 W 6th St	0.73mi	7/4.0	4,472 (-15%)	9mo	$1,825,000	$408	21

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.72% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.22×
• Total profit: $143,192
• Equity at exit: $997,317

10-year hold

• IRR: 6.2%
• Equity multiple: 1.88×
• Total profit: $568,267
• Equity at exit: $1,509,252

Cash invested: $643,720 (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 90035

• Home prices YoY: 0.7%
• Rents YoY: -1.6%
• Active inventory: 106
• Price-to-rent: 47.9×

Monthly cashflow live

• Estimated rent: $16,005 high
• Mortgage (P&I): −$12,056
• Tax from tax record: −$436 /mo · $5,236/yr
• Insurance: −$958
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,361
• Net cashflow: $-807

Break-even live

Break-even rent $17,026

Max offer price $2,156,525

Occupancy floor —

Sensitivity live

Price	-10% $495	-5% $-156	+0% $-807	+5% $-1,457	+10% $-2,108
Rent	-10% $-2,071	-5% $-1,439	+0% $-807	+5% $-174	+10% $458
Rate	-1.0pp $351	-0.5pp $-222	base $-807	+0.5pp $-1,402	+1.0pp $-2,008

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	2.5	$16,004
Total (4 units)			$16,005

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: $574,750
• Closing costs: $68,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
332 S Almont Dr Beverly Hills, CA	6.0	7.5	6040	$18,000	$2.98	44d	1	0.50mi
1510 Cardiff Ave Los Angeles, CA	7.0	5.5	4747	$19,000	$4.00	8d	1	1.05mi
346 N Kings Rd Los Angeles, CA	6.0	7.0	4500	$22,950	$5.10	44d	1	1.08mi
418 N Sweetzer Ave Los Angeles, CA	6.0	7.0	5136	$25,000	$4.87	44d	1	1.21mi
9033 Cresta Dr Los Angeles, CA	6.0	5.5	5500	$18,000	$3.27	2d	1	1.25mi
9033 Cresta Dr Los Angeles, CA	6.0	5.5	5500	$16,500	$3.00	44d	1	1.25mi
512 N Palm Dr Beverly Hills, CA	6.0	9.0	4426	$25,000	$5.65	22d	1	1.47mi

Listing history 15 events

1. 2026-06-18
   days on market $2,299,000 Active 56 DOM
2. 2026-06-17
   days on market $2,299,000 Active 55 DOM
3. 2026-06-16
   days on market $2,299,000 Active 54 DOM
4. 2026-06-15
   days on market $2,299,000 Active 53 DOM
5. 2026-06-13
   days on market $2,299,000 Active 51 DOM
6. 2026-06-09
   days on market $2,299,000 Active 47 DOM
7. 2026-06-08
   days on market $2,299,000 Active 46 DOM
8. 2026-06-07
   days on market $2,299,000 Active 45 DOM
9. 2026-06-04
   days on market $2,299,000 Active 42 DOM
10. 2026-06-03
    days on market $2,299,000 Active 41 DOM
11. 2026-06-02
    days on market $2,299,000 Active 40 DOM
12. 2026-06-01
    days on market $2,299,000 Active 39 DOM
13. 2026-05-31
    days on market $2,299,000 Active 38 DOM
14. 2026-04-23
    listed $2,299,000 Active 833-char remark
15. 1977-01-20
    soldstatus $160,000

ⓘ 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: $5,236 · $436/mo
• Projected year-2 tax: $17,472 · $1,456/mo
• Expected delta: +$12,236/yr (+$1,020/mo · 233.7%)

ⓘ 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 ≥88°F today · 21 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: $192,060
• − Mortgage interest: −$128,780
• − Property taxes: −$5,236
• − Insurance: −$11,495
• − Repairs & maintenance: −$15,365
• − Management: −$15,365
• − Depreciation: −$66,880
• Taxable loss: −$51,060
• Est. tax savings @ 24.0%: +$12,255
• After-tax cash flow: $2,576/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): 29,000
• Household income: $105,013
• Rent vs Own: 69.5% rent · 30.5% own
• Severe rent burden: 2317.0

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 0.57)
• Race & ethnicity: White 64% Hispanic / Latino 14% Two or more races 11% Asian 7% Black 7%
• Hispanic origin (detail): Mexican 7% Cuban 1%
• Common ancestry: Scotch-Irish 4% Italian 3% Romanian 3%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 72% English-only · Other Indo-European 8% Spanish 7% Russian/Polish/Slavic 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: ▲ 2.72%
• Current HPI: 394.903
• Rent YoY: ▼ -1.60%
• 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

+1336.9% since first listed

2 events — show timeline

• 2026-04-23 Listed $2,299,000 TheMLS
• 1977-01-20 Sold (Public Records) $160,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $5,236 · +2.1% YoY. Source: county tax records.