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1228 Geddes Street Los Angeles, CA 90044

3 Beds 2 Baths 1,408 sqft Built 1949

$619,900

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1949
  • Price/Sqft : $440.27
  • 4 Days on Market
  • MLS # : DW20232878
  • Updated Date : 11/06/2020 at 10:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,408 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate - Torrance

Listing Agent's Description

This “Truly One Of A Kind” property in Los Angles is a Must See!!!!! This wonderful home boasts new kitchens and a wonderful backyard that any Family or individuals that Love To Entertain. The house consists of 3 bedrooms and 2 bathrooms with a bonus room attached to the garage . This property has laminate flooring in Living room, Dining area, kitchen, laundry area and hallway. There is new carpet in the bedrooms. An appliance voucher will be provided for a range, micro-hood and dishwasher (provided at close of escrow, includes delivery and installation). The kitchens has been updated with new cabinets, quartz countertops and recessed lighting. The bathrooms has been upgraded with tile flooring, new vanity and upgraded plumbing and electrical fixtures. This property won’t last long, come see it and make an offer while you can. Title records show different bedroom and bathroom count, buyer to verify.

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: 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
 

$557,910$681,890$619,900

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,287
Property Tax -$709
Property Insurance -$61
Property Management Fees -$116
CASH FLOW
-$813

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.

$619,900

PROJECTED PRICE

$2,360

PROJECTED RENT

0.38%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,024

INVESTMENT

$170,024

Down Payment
$154,975
Rehab Estimate
$5,750
Closing Costs
$9,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,287

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $154,975
Loan Amount $464,925
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,259

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.68

    LIST RENT PER SQFT
  • $2,513

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,360
1$2,3602$2,6503$2,7504$2,7955$3,400
$3,400
RENT COMPS ANALYSIS
  • 1228 Geddes Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1949
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.68
    •  
  • 1256 W 140th Street Gardena, CA 2
    • 3 beds 1 baths ∙ 1,576 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,576 Sqft ∙ Built 1959
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.68
    •  
  • 2119 W 129th Street Gardena, CA 3
    • 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
    •  
  • 2066 Thoreau Street Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1947
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.61
    •  
  • 2535 Hudspeth Street Inglewood, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Judi Reimer
First Team Real Estate - Torrance
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20232878
Last Updated: 11/06/2020
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