406 S Coronado St · Los Angeles, CA 90057

$2,200,000

None bd · 12.0 ba · 6,250 sqft · MultiFamily public records · 145 Days on market

Built 1922 7,734 sqft lot $352/sqft · 14% above area Est $1925k · 14% over

---

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 +26.7/30.0
• DSCR +9.1/10.0
• 1% rule +6.8/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Appreciation +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.5/5.0
• ARV discount +1.1/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 13 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

406 S Coronado St | 13-Unit Value-Add Multifamily in Westlake, Los Angeles. Built in 1922 on a 7,732 SF LAR4 lot with 6,250 SF of improvements, this renovated asset features a desirable unit mix of (12) studio + den units and (1) studio. The property offers immediate income upside through lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 17% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,200,000 ($169,231/unit | $352/SF) with a 7.04% in-place cap rate and 8.63% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.

Key facts

• Zoned lar4
• 13 unit multifamily
• Long term density

Tags

• 13 UNIT MULTIFAMILY
• RENOVATED ASSET
• ZONED LAR4
• LONG TERM DENSITY

What this means for you Summary

Snapshot

• This is a 13 × ?-bed/12.0-bath units multifamily listed at $2.20M.

Deal economics

• At list price, monthly cash flow is $6k ($71k/yr) — positive. Per door: $456/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($26k rent vs $2.20M).
• Recommended offer: $1.94M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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-, crime F, cost of living 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.
• Zoned schools: Charles White Elementary (276 students, 98% FRL); John H. Liechty Middle (851 students, 100% FRL); Ramon C. Cortines School of Visual And Performing Arts (math 18% / reading 62%, grade F, #514 of 1,170 statewide, top 44%, 1,171 students, 69% FRL) — zoned schools average 89% FRL vs 67% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-4.1%/yr); 45 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $26,036/mo this rent would consume 697% of the median local household income ($45k/yr) (locally 5064% 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 $15k of loan paydown is wiped out by about $66k 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 145 days — a 12% lower offer ($1.94M) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 23y 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 $1.84M; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1922 — 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 $1,936,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 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 1922 — 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: 1.18% ✓
• Cap rate: 9.53%
• Cash-on-cash: 11.55%
• DSCR: 1.51
• GRM: 7.0

CMA / ARV

• ARV (median comp): $1,925,260
• List price: $2,200,000
• Delta: 14.27%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
436 S Grand View St	0.23mi	12/12.0	6,336 (+1%)	16mo	$1,650,000	$260	73
230 N Reno St	0.61mi	12/10.0	6,160 (-1%)	4mo	$1,500,000	$244	57
201 N Carondelet	0.48mi	3/2.0	6,197 (-1%)	4mo	$850,000	$137	53
222 N Coronado St	0.52mi	12/16.0	6,523 (+4%)	8mo	$2,400,000	$368	46
220 S Bonnie Brae St	0.57mi	12/14.0	6,989 (+12%)	14mo	$1,162,500	$166	34
211 N Vendome St	0.67mi	10/4.0	5,659 (-10%)	6mo	$1,440,000	$254	29

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

Projected returns pro-forma

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

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-55,064
• Equity at exit: $328,027

10-year hold

• IRR: 3.7%
• Equity multiple: 1.23×
• Total profit: $143,694
• Equity at exit: $190,216

Cash invested: $616,000 (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 90057

• Home prices YoY: -1.1%
• Rents YoY: -4.1%
• Active inventory: 45
• Price-to-rent: 91.5×

Monthly cashflow live

• Estimated rent: $26,036 high
• Mortgage (P&I): −$11,537
• Tax from tax record: −$2,185 /mo · $26,216/yr
• Insurance: −$917
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,468
• Net cashflow: $5,930

Break-even live

Break-even rent $18,530

Max offer price $2,200,000

Occupancy floor 72%

Sensitivity live

Price	-10% $7,175	-5% $6,553	+0% $5,930	+5% $5,307	+10% $4,685
Rent	-10% $3,873	-5% $4,902	+0% $5,930	+5% $6,958	+10% $7,987
Rate	-1.0pp $7,038	-0.5pp $6,490	base $5,930	+0.5pp $5,360	+1.0pp $4,780

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

Units	Beds	Baths	Est. rent
▸ 13× units	0	12	$26,039
Total (13 units)			$26,036

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: $550,000
• Closing costs: $66,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
695 S Vermont Ave Los Angeles, CA	3.0	1.0–3.0	6378	$4,108	$0.64	22d	29	0.84mi
517 S Kenmore Ave Unit 12 Los Angeles, CA	1.0	1.0	8895	$1,850	$0.21	12d	1	1.09mi
837 S Ardmore Ave Unit 1 Los Angeles, CA	1.0	1.0	6682	$2,000	$0.30	26d	1	1.48mi

Listing history 50 events

1. 2026-06-21
   days on market $2,200,000 Active 145 DOM
2. 2026-06-18
   days on market $2,200,000 Active 142 DOM
3. 2026-06-17
   days on market $2,200,000 Active 141 DOM
4. 2026-06-16
   days on market $2,200,000 Active 140 DOM
5. 2026-06-15
   days on market $2,200,000 Active 139 DOM
6. 2026-06-13
   days on market $2,200,000 Active 137 DOM
7. 2026-06-09
   days on market $2,200,000 Active 133 DOM
8. 2026-06-08
   days on market $2,200,000 Active 132 DOM
9. 2026-06-07
   days on market $2,200,000 Active 131 DOM
10. 2026-06-04
    days on market $2,200,000 Active 128 DOM
11. 2026-06-03
    days on market $2,200,000 Active 127 DOM
12. 2026-06-02
    days on market $2,200,000 Active 126 DOM
13. 2026-06-01
    days on market $2,200,000 Active 125 DOM
14. 2026-05-31
    days on market $2,200,000 Active 124 DOM
15. 2026-04-22
    price $2,200,000 714-char remark

    Show marketing remark (714 chars)

    406 S Coronado St | 13-Unit Value-Add Multifamily in Westlake, Los Angeles. Built in 1922 on a 7,732 SF LAR4 lot with 6,250 SF of improvements, this renovated asset features a desirable unit mix of (12) studio + den units and (1) studio. The property offers immediate income upside through lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 17% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,200,000 ($169,231/unit | $352/SF) with a 7.04% in-place cap rate and 8.63% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.

16. 2026-03-17
    price $2,295,000 714-char remark

    Show marketing remark (714 chars)

    406 S Coronado St | 13-Unit Value-Add Multifamily in Westlake, Los Angeles. Built in 1922 on a 7,732 SF LAR4 lot with 6,250 SF of improvements, this renovated asset features a desirable unit mix of (12) studio + den units and (1) studio. The property offers immediate income upside through lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 17% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,200,000 ($169,231/unit | $352/SF) with a 7.04% in-place cap rate and 8.63% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.

17. 2026-03-13
    status Active 714-char remark

    Show marketing remark (714 chars)

    406 S Coronado St | 13-Unit Value-Add Multifamily in Westlake, Los Angeles. Built in 1922 on a 7,732 SF LAR4 lot with 6,250 SF of improvements, this renovated asset features a desirable unit mix of (12) studio + den units and (1) studio. The property offers immediate income upside through lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 17% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,200,000 ($169,231/unit | $352/SF) with a 7.04% in-place cap rate and 8.63% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.

18. 2026-03-13
    price $2,275,000 714-char remark

    Show marketing remark (714 chars)

    406 S Coronado St | 13-Unit Value-Add Multifamily in Westlake, Los Angeles. Built in 1922 on a 7,732 SF LAR4 lot with 6,250 SF of improvements, this renovated asset features a desirable unit mix of (12) studio + den units and (1) studio. The property offers immediate income upside through lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 17% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,200,000 ($169,231/unit | $352/SF) with a 7.04% in-place cap rate and 8.63% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.

19. 2026-03-02
    historical Backup Offers Accepted 714-char remark

    Show marketing remark (714 chars)

    406 S Coronado St | 13-Unit Value-Add Multifamily in Westlake, Los Angeles. Built in 1922 on a 7,732 SF LAR4 lot with 6,250 SF of improvements, this renovated asset features a desirable unit mix of (12) studio + den units and (1) studio. The property offers immediate income upside through lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 17% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,200,000 ($169,231/unit | $352/SF) with a 7.04% in-place cap rate and 8.63% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.

20. 2026-01-27
    listed $2,295,000 Active 714-char remark

    Show marketing remark (714 chars)

    406 S Coronado St | 13-Unit Value-Add Multifamily in Westlake, Los Angeles. Built in 1922 on a 7,732 SF LAR4 lot with 6,250 SF of improvements, this renovated asset features a desirable unit mix of (12) studio + den units and (1) studio. The property offers immediate income upside through lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 17% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,200,000 ($169,231/unit | $352/SF) with a 7.04% in-place cap rate and 8.63% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.

21. 2025-06-27
    price
22. 2025-05-17
    price
23. 2025-05-07
    price
24. 2025-03-10
    listed Active
25. 2024-09-14
    historical $1,450
26. 2024-09-05
    listed $1,450
27. 2019-10-03
    historical Withdrawn
28. 2019-10-03
    historical
29. 2019-08-20
    listed Active
30. 2019-08-20
    listed $3,600,000
31. 2018-06-28
    soldstatus $1,845,000 Closed
32. 2018-06-28
    soldstatus $1,845,000
33. 2018-06-28
    soldstatus $1,845,000
34. 2018-04-10
    status Backup Offers Accepted
35. 2018-03-13
    listed $1,799,000 Active
36. 2018-03-13
    listed $1,799,000
37. 2008-03-22
    historical
38. 2007-11-29
    historical
39. 2007-09-25
    listed
40. 2007-08-27
    listed
41. 2007-08-22
    historical
42. 2007-08-21
    historical
43. 2007-06-21
    historical
44. 2007-03-14
    listed
45. 2007-02-17
    historical
46. 2007-02-03
    historical
47. 2006-11-08
    listed
48. 2006-11-08
    listed $1,299,000
49. 2006-11-03
    historical
50. 2006-08-02
    historical

ⓘ 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: $26,216 · $2,185/mo
• Projected year-2 tax: $26,216 · $2,185/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥90°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $312,432
• − Mortgage interest: −$123,234
• − Property taxes: −$26,216
• − Insurance: −$11,000
• − Repairs & maintenance: −$24,995
• − Management: −$24,995
• − Depreciation: −$64,000
• Taxable income: $37,992
• Est. tax owed @ 24.0%: −$9,118
• After-tax cash flow: $62,042/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): 46,629
• Household income: $44,823
• Rent vs Own: 96.2% rent · 3.8% own
• Severe rent burden: 5064.0

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: Predominantly Hispanic (68%)
• Race & ethnicity: Hispanic / Latino 68% Asian 18% Two or more races 11% Black 7% White 5% Native American 4%
• Hispanic origin (detail): Mexican 28%
• Foreign-born: 55% · Canada, South Korea, China
• Languages at home: 19% English-only · Spanish 62% Korean 10% Tagalog/Filipino 5%

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: ▼ -4.79%
• Current HPI: 446.8368
• Rent YoY: ▼ -4.06%
• 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

+1157.1% since first listed

48 events — show timeline

• 2026-04-22 Price Changed $2,200,000 TheMLS
• 2026-03-17 Price Changed $2,295,000 TheMLS
• 2026-03-13 Relisted — TheMLS
• 2026-03-13 Price Changed $2,275,000 TheMLS
• 2026-03-02 Contingent — TheMLS
• 2026-01-27 Listed $2,295,000 TheMLS
• 2025-06-27 Price Changed — TheMLS
• 2025-05-17 Price Changed — TheMLS
• 2025-05-07 Price Changed — TheMLS
• 2025-03-10 Listed — TheMLS
• 2024-09-14 Rental Removed $1,450 RENTALBEAST
• 2024-09-05 Listed for Rent $1,450 RENTALBEAST
• 2019-10-03 Listing Removed — SDMLS
• 2019-10-03 Delisted — TheMLS
• 2019-08-20 Listed $3,600,000 SDMLS
• 2019-08-20 Listed — TheMLS
• 2018-06-28 Sold (Public Records) $1,845,000 Public Records
• 2018-06-28 Sold (MLS) $1,845,000 SDMLS
• 2018-06-28 Sold (MLS) $1,845,000 TheMLS
• 2018-04-10 Pending — TheMLS
• 2018-03-13 Listed $1,799,000 SDMLS
• 2018-03-13 Listed $1,799,000 TheMLS
• 2008-03-22 Delisted — TheMLS
• 2007-11-29 Delisted — TheMLS
• 2007-09-25 Listed — TheMLS
• 2007-08-27 Listed — TheMLS
• 2007-08-22 Delisted — TheMLS
• 2007-08-21 Listing Removed — SDMLS
• 2007-06-21 Delisted — CRMLS
• 2007-03-14 Listed — CRMLS
• 2007-02-17 Listing Removed — CRMLS
• 2007-02-03 Listing Removed — SDMLS
• 2006-11-08 Listed $1,299,000 SDMLS
• 2006-11-08 Listed — TheMLS
• 2006-11-03 Delisted — TheMLS
• 2006-08-02 Delisted — CRMLS
• 2006-03-02 Listed — CRMLS
• 2006-03-01 Listed $1,545,000 SDMLS
• 2006-03-01 Listed $1,599,000 CRMLS
• 2006-03-01 Listed — TheMLS
• 2005-08-23 Sold (Public Records) $1,260,000 Public Records
• 2005-08-23 Sold (MLS) $1,260,000 TheMLS
• 2005-06-13 Delisted — TheMLS
• 2005-05-04 Listed $1,280,000 TheMLS
• 2004-03-09 Sold (Public Records) $599,000 Public Records
• 2004-03-09 Sold (MLS) $598,888 CRMLS
• 2003-12-04 Listed $340,000 CRMLS
• 1998-07-09 Sold (Public Records) $175,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $26,216 · +1.2% YoY. Source: county tax records.