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PROPERTY INFO
FACTS
- Single Family
- Built In 1942
- Price/Sqft : $452.26
- 3 Days on Market
- MLS # : PW20259454
- Updated Date : 01/15/2021 at 10:59
CONSTRUCTION
- Beds : 3
- Floor Size : 1,280 sqft
- Baths : 3 full
Listing Agent
Berkshire Hathaway H.s.c.p.
Listing Agent's Description
Welcome to this Beautiful Home in the heart of West Athens! The Property features a fantastic open concept, 3 bedroom 3 bath home with detached garage on a large lot. You will enter the front door to find a great room complete with spacious living room, dining area and brand new Kitchen. This wonderful home features an extra large master bedroom with en-suite, as well as a second bedroom with en-suite bathroom! The home has been completely remodeled throughout including new flooring, all new windows, fresh paint inside and out and brand new roof! Conveniently located with easy access to 110, 105 & 405 freeways. Minutes away from Brand New Sofi Stadium.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: West Athens
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: West Athens
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,560 |
| EXPENSES | Loan Payment | -$2,011 |
| Property Tax | -$662 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$125 | |
|
CASH FLOW
-$296
|
||
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.
$578,888
PROJECTED PRICE
$2,560
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 9.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$159,155
LOAN DETAILS
$2,011
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $144,722 |
| Loan Amount | $434,166 |
3.58
YEARS SAVED
$18,239
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,560
LIST RENT -
$2
LIST RENT PER SQFT
-
$2,547
COMP ESTIMATED VALUE -
$1.99
COMP AVG. RENT PER SQFT
Comps Range
-
1034 W 120th Street Los Angeles, CA 1
- 3 beds 3 baths ∙ 1,280 Sqft ∙ Built 1942 3 beds 3 baths ∙ 1,280 Sqft ∙ Built 1942
- Rent
- Rent Per SQFT
- $2,560
- $2.00
-
2119 W 129th Street Gardena, CA 2
- 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1955
LEASED 01/31/20- Rent
- Rent Per SQFT
- $2,750
- $1.69
-
629 E 120th Street Los Angeles, CA 3
- 4 beds 2 baths ∙ 1,526 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,526 Sqft ∙ Built 1948
LEASED 10/24/20- Rent
- Rent Per SQFT
- $2,875
- $1.88
-
2535 Hudspeth Street Inglewood, CA 4
- 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1953
LEASED 02/15/20- Rent
- Rent Per SQFT
- $3,400
- $2.16
-
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
Berkshire Hathaway H.s.c.p.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20259454
Last Updated: 01/15/2021
