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1119 W 121st Street Los Angeles, CA 90044

3 Beds 2 Baths 1,332 sqft Built 1955

$609,999

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $457.96
  • 14 Days on Market
  • MLS # : CV21045868
  • Updated Date : 03/20/2021 at 12:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,332 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Blackstone

Listing Agent's Description

Beautiful and well maintained home located in the heart of West Athens. This spacious 3. bedroom / 2 bath home boasts copper plumbing, central air/heat and indoor laundry hookups. The large living room is perfect for entertaining and provides a beautiful view of the city lights in the evening. The long driveway leads to a 2-car garage that has ample space to work on projects. Home is close to schools, shopping, and easy access to freeways!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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]
  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $153k725k

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

Neighborhood: West Athens

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
West Athens Elementary School Primary Regular 805 33 1
Animo Phillis Wheatley Charter Middle School Middle Charter 623 34 2
George Washington Preparatory Senior High School High Regular 1,175 64 2

West Athens Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 33
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
 

$548,999$670,999$609,999

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,119
Property Tax -$698
Property Insurance -$59
Property Management Fees -$132
CASH FLOW
-$308

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.

$609,999

PROJECTED PRICE

$2,700

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,119

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,500
Loan Amount $457,499
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$19,589

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $2.03

    LIST RENT PER SQFT
  • $2,834

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7003$3,1004$3,2005$3,400
$3,400
RENT COMPS ANALYSIS
  • 1119 W 121st Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.03
    •  
  • 13424 S New Hampshire Avenue Gardena, CA 1
    • 3 beds 1 baths ∙ 1,056 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,056 Sqft ∙ Built 1947
    property image
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.37
    •  
  • 14503 S Berendo Avenue Gardena, CA 3
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 1956
    property image
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.85
    •  
  • 2522 W 118th Place Hawthorne, CA 4
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 1954
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.13
    •  
  • 2535 Hudspeth Street Inglewood, CA 5
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1953
    property image
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.16
    •  
PROPERTY LISTING DETAILS
Michael Rojas
Coldwell Banker Blackstone
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21045868
Last Updated: 03/20/2021
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