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10773 Tabor Street Los Angeles, CA 90034

3 Beds 2 Baths 1,400 sqft Built 1928

$1,095,000

List Price

$4,390

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1928
  • Price/Sqft : $782.14
  • 3 Days on Market
  • MLS # : 20673342
  • Updated Date : 01/02/2021 at 08:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

Keller Williams-santa Monica

Listing Agent's Description

ALL OFFERS WILL BE REVIEWED ON 1/3/21 AT 4PM. Please send all offers to andycomins@kw.com with RPA, Pre-approval, FICOS, POF, etc. Fabulous Palms area location. Ideal opportunity for renovation or new build/development. First-time on the market in over 50 years. Bright, south-facing living area. 1960s wood paneling in bedrooms. Recently used as a rental property; $3300/month. Currently vacant. Three beds and two baths. Large kitchen with breakfast area. Newer gas fireplace with stone surround. Detached one-car garage; additional storage area with an antique indoor charcoal grill! Ample off-street parking for up to three cars. Located close to downtown Culver City, Sony Studios, numerous Metro stops, and 15 minutes to LAX.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Palms

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $199k970k

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

Neighborhood: Palms

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $17844360

* 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
Charnock Road Elementary School Primary Regular 333 17 5
Palms Middle School Middle Regular 1,486 56 7
Venice Senior High School High Regular 2,109 95 7

Charnock Road Elementary School

  • Education Level: Primary
  • # of students: 333
  • # of teachers: 17
5
GreatSchools Rating

Palms Middle School

  • Education Level: Middle
  • # of students: 1,486
  • # of teachers: 56
7
GreatSchools Rating

Venice Senior High School

  • Education Level: High
  • # of students: 2,109
  • # of teachers: 95
7
GreatSchools Rating
 

$985,500$1,204,500$1,095,000

PURCHASE PRICE

$3,951$4,829$4,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,390
EXPENSES Loan Payment -$4,040
Property Tax -$1,103
Property Insurance -$61
Property Management Fees -$215
CASH FLOW
-$1,029

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$1,095,000

PROJECTED PRICE

$4,390

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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-$20k-$10k$0.0$10k$20k$30k

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$295,925

INVESTMENT

$295,925

Down Payment
$273,750
Rehab Estimate
$5,750
Closing Costs
$16,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,040

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $273,750
Loan Amount $821,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$15,664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,390

    LIST RENT
  • $3.14

    LIST RENT PER SQFT
  • $4,396

    COMP ESTIMATED VALUE
  • $3.14

    COMP AVG. RENT PER SQFT
Comps Range
$4,300
1$4,3002$4,3903$4,5004$4,6005$4,650
$4,650
RENT COMPS ANALYSIS
  • 10773 Tabor Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1928
    • Rent
    • Rent Per SQFT
    •  
    • $4,390
    • $3.14
    •  
  • 3953 Bledsoe Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1924
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $3.23
    •  
  • 10829 Oregon Avenue Culver City, CA 3
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1929
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.15
    •  
  • 3527 Purdue Avenue Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1940
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $3.18
    •  
  • 10817 Charnock Road Los Angeles, CA 5
    • 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1938 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1938
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,650
    • $3.00
    •  
PROPERTY LISTING DETAILS
Andrew Comins
Keller Williams-santa Monica
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20673342
Last Updated: 01/02/2021
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