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1046 4th Avenue Los Angeles, CA 90019

3 Beds 2 Baths 1,825 sqft Built 1919

$995,000

List Price

$3,810

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1919
  • Price/Sqft : $545.21
  • 3 Days on Market
  • MLS # : 21690108
  • Updated Date : 02/05/2021 at 16:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,825 sqft
  • Baths : 2 full
Listing Agent

Landpac Properties

Listing Agent's Description

Amazing price!!! Exquisite Gem!!! Great & Beautiful residential Hancock park area. Good location! Unique floor plan, Hardwood floor. Close to 10 fwy & Downtown.

SEE MORE

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: Olympic Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $153k1021k

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

Neighborhood: Olympic Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000420044004600Rent in $17184613

* 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
Carson-gore Academy Of Environmental Studies Primary Regular 648 28 4
Pio Pico Middle School Middle Regular 625 28 5
Los Angeles Senior High High Regular 1,422 76 3

Carson-gore Academy Of Environmental Studies

  • Education Level: Primary
  • # of students: 648
  • # of teachers: 28
4
GreatSchools Rating

Pio Pico Middle School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 28
5
GreatSchools Rating

Los Angeles Senior High

  • Education Level: High
  • # of students: 1,422
  • # of teachers: 76
3
GreatSchools Rating
 

$895,500$1,094,500$995,000

PURCHASE PRICE

$3,429$4,191$3,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,810
EXPENSES Loan Payment -$3,456
Property Tax -$1,002
Property Insurance -$71
Property Management Fees -$187
CASH FLOW
-$906

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.

$995,000

PROJECTED PRICE

$3,810

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.5%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$269,425

INVESTMENT

$269,425

Down Payment
$248,750
Rehab Estimate
$5,750
Closing Costs
$14,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,456

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $248,750
Loan Amount $746,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$10,233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,810

    LIST RENT
  • $2.09

    LIST RENT PER SQFT
  • $3,819

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,8003$3,8104$3,9505$4,165
$4,165
RENT COMPS ANALYSIS
  • 1046 4th Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1919 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1919
    • Rent
    • Rent Per SQFT
    •  
    • $3,810
    • $2.09
    •  
  • 1222 S Longwood Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1928
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.00
    •  
  • 1141 S Rimpau Boulevard Los Angeles, CA 2
    • 4 beds 1 baths ∙ 1,850 Sqft ∙ Built 1925 4 beds 1 baths ∙ 1,850 Sqft ∙ Built 1925
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.05
    •  
  • 1249 S Tremaine Avenue Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 1924
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.07
    •  
  • 1213 S Orange Drive Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1926 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1926
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,165
    • $2.25
    •  
PROPERTY LISTING DETAILS
Soon Hee Lee
Landpac Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21690108
Last Updated: 02/05/2021
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