The Group
CRE
Off-Market Multifamily Acquisition Brief
Taylor
taylor@thegroupcre.com
(310) 555-1234
11941 N Lake Shore Ave
APN:
5401-052-001
Silver Lake / Echo Park
15
units
Built
1983
🔗 Copy share link
✓ Copied to clipboard
Headline Metrics
Opportunity Score
46 / 100
Assessed Value
$2.28M
Last Sale Price
$5.49M
Last Sale Date
Aug 17, 2007
Hold Years
18.8 yrs
Units
15
RSO Status
pending
ULA Exposure
None / Pending
Soft-Story
pending
Why This Deal
top signals — public record sources
Long hold
18.8 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)
+18
Owner entity: trust
Torres 2003 Irrevocable Trust
Trust ownership signals estate/succession planning; trustee sales common
📂 LA County Assessor — owner-of-record (assessment roll)
+15
Prop 13 equity gap
Assessed $2.28M vs ~$4.8M est. market (47% of comp)
At 47% of submarket comp, locked equity creates sell/refi pressure
📂 LA County Assessor 2024 roll — annual assessed value (data.lacounty.gov)
+13
Ownership
LA County Assessor — owner of record
Current Owner
Torres 2003 Irrevocable Trust
trust
Held
18.8 years
(since 2007)
Most recent transfer:
arms length
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
$4.80M
max(AV × 1.5 = $$3.42M, submarket $/unit × units = $$4.80M)
ULA Exposure
None — below $5.15M
Source:
Measure ULA
· Ordinance 187382, Apr 2023. Paid by seller at close.
📊 Implied Cap Rate
Rent basis
submarket median rent
GSI (annual)
$387K
NOI (5.0% vacancy, 35.0% opex)
$239K
At AV
(Prop-13 — understated)
10.5%
$2.28M AV
At Market
(comp-adjusted)
5.0%
$4.80M 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 · Silver Lake / Echo Park submarket
No comps within Silver Lake / Echo Park 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