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10007 S Harvard Boulevard Los Angeles, CA 90047

3 Beds 2 Baths 1,385 sqft Built 1939

$788,999

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1939
  • Price/Sqft : $569.67
  • 2 Days on Market
  • MLS # : TR21023735
  • Updated Date : 02/06/2021 at 17:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,385 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Top Team

Listing Agent's Description

There's no place like home!  This completely remodeled Spanish Revival Home is waiting for you and your family. This Southern California Gem is located just minutes from the brand new Sofi Stadium. The spacious home showcases bright and airy California living with it's LED recess lighting, bright windows, and beautiful floors throughout. It features 3 spacious bedroom and 2 beautifully appointed bathrooms. Open concept living at it's finest! The inviting living room houses a beautiful Spanish tiled fireplace that is adjacent to a large dining area. Prepare your holiday meals in the gorgeous, brand new, modern kitchen! It features grey shaker cabinets and stainless steel appliances that your friends and family will absolutely love! Your family get togethers will be unforgettable! Wait there's more! There’s an approx. 300 Square foot bonus room that can be your dream in-law suite, man cave, or kid’s play room. This space is an entertainer's dream!  There’s also a large enclosed private back yard with fruit trees and tons of room for your kids to play. Host your family Summer parties under the large covered patio. You have to see this home and all it has to offer!  Welcome to your new home!

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MARKET HIGHLIGHTS

  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Gramercy Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $146k725k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Gramercy Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183316

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Manhattan Place Elementary School Primary Regular 400 18 1
Animo Phillis Wheatley Charter Middle School Middle Charter 623 34 2
George Washington Preparatory Senior High School High Regular 1,175 64 2

Manhattan Place Elementary School

  • Education Level: Primary
  • # of students: 400
  • # of teachers: 18
1
GreatSchools Rating

Animo Phillis Wheatley Charter Middle School

  • Education Level: Middle
  • # of students: 623
  • # of teachers: 34
2
GreatSchools Rating

George Washington Preparatory Senior High School

  • Education Level: High
  • # of students: 1,175
  • # of teachers: 64
2
GreatSchools Rating
 

$710,099$867,899$788,999

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,740
Property Tax -$831
Property Insurance -$60
Property Management Fees -$134
CASH FLOW
-$1,026

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$788,999

PROJECTED PRICE

$2,740

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$214,835

INVESTMENT

$214,835

Down Payment
$197,250
Rehab Estimate
$5,750
Closing Costs
$11,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,740

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,250
Loan Amount $591,749
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$794

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,740

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $2,957

    COMP ESTIMATED VALUE
  • $2.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,740
1$2,7402$3,0003$3,1004$3,2005$3,600
$3,600
RENT COMPS ANALYSIS
  • 10007 S Harvard Boulevard Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1939
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $1.98
    •  
  • 9906 Haas Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1949
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.88
    •  
  • 1030 W 92nd Street Los Angeles, CA 3
    • 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1929 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1929
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.36
    •  
  • 2116 W 93rd Street Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1941
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.07
    •  
  • 10211 S St Andrews Place Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1940
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.23
    •  
PROPERTY LISTING DETAILS
Deborah Barr
Coldwell Banker Top Team
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21023735
Last Updated: 02/06/2021
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