The Group
CRE
Off-Market Multifamily Acquisition Brief
Taylor
taylor@thegroupcre.com
(310) 555-1234
1985 W 9th St
APN:
5086-066-084
Koreatown
33
units
Built
1942
🔗 Copy share link
✓ Copied to clipboard
Headline Metrics
Opportunity Score
35 / 100
Assessed Value
$6.48M
Last Sale Price
$14.68M
Last Sale Date
Oct 15, 2013
Hold Years
12.6 yrs
Units
33
RSO Status
pending
ULA Exposure
None / Pending
Soft-Story
pending
Why This Deal
top signals — public record sources
Intra-family transfer
Intra-family transfer
Succession or estate event; heirs often prefer cash over landlord operations
📂 LA County Recorder — deed transfer records (rrcc.lacounty.gov)
+15
Long hold
12.6 years
Prop 13 locks assessed value near purchase price; longer hold = larger gap to market
📂 LA County Assessor — Deed transfer records (last_sale_date field)
+10
Prop 13 equity gap
Assessed $6.48M vs ~$8.6M est. market (76% of comp)
At 76% of submarket comp, locked equity creates sell/refi pressure
📂 LA County Assessor 2024 roll — annual assessed value (data.lacounty.gov)
+5
Owner entity: individual
Clara G. Choi
Individual owner; lower succession signal without long hold
📂 LA County Assessor — owner-of-record (assessment roll)
+5
Ownership
LA County Assessor — owner of record
Current Owner
Clara G. Choi
individual
Held
12.6 years
(since 2013)
Most recent transfer:
intra family
LA Underwriting Pro-Forma
RSO · ULA · Cap rate — every number cited
🔵 RSO Rent Roll Model
RSO status pending LAHD data ingestion.
🟡 ULA Mansion Tax Exposure
Projected sale price
$9.72M
max(AV × 1.5 = $$9.72M, submarket $/unit × units = $$8.58M)
ULA Tier
Tier 1 — $5.15M+ (4%)
ULA Tax Exposure
$389K
Source:
Measure ULA
· Ordinance 187382, Apr 2023. Paid by seller at close.
📊 Implied Cap Rate
Rent basis
submarket median rent
GSI (annual)
$673K
NOI (5.0% vacancy, 35.0% opex)
$416K
At AV
(Prop-13 — understated)
6.4%
$6.48M AV
At Market
(comp-adjusted)
4.8%
$8.58M est.
AV cap is artificially high — Prop-13 AV locks near purchase price. The gap is the owner's hidden equity.
🔴 Soft-Story Retrofit Capex
Pending LADBS data ingestion.
Comparable Sales
Last 24 months · Koreatown submarket
No comps within Koreatown submarket in last 24 months with recorded sale prices.
LA Regulatory Flags
LAHD · LADBS · Measure ULA
🔵 RSO Status
data pending
Pending LAHD RSO dataset ingestion.
Source:
LAHD RSO dataset
· LAMC §151.02
🟡 ULA Mansion Tax
data pending
Pending la-flags-ingest data.
Source:
Measure ULA
· Ordinance 187382 (Apr 2023)
🔴 Soft-Story Retrofit
data pending
Pending LADBS data ingestion.
Source:
LADBS
· Ordinance #183893