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12821 Clovis Avenue Los Angeles, CA 90059

3 Beds 1 Baths 958 sqft Built 1948

$495,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $516.70
  • 6 Days on Market
  • MLS # : OC21032275
  • Updated Date : 02/16/2021 at 15:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 958 sqft
  • Baths : 1 full
Listing Agent

Elite Homes Realty

Listing Agent's Description

Charming home in the Willow Brook of Los Angeles. Home is on nice quite street. The windows was recently upgraded. the home has a solar system which will be free of all liens. There is a full camera system and with monitor. All three rooms are nice sizes. There is a two car detached garage. lots of packing space on the property.

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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)
  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
  • 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: Willowbrook

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $128k725k

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

Neighborhood: Willowbrook

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17063316

* 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
Enterprise Middle School Middle Unknown NA
Centennial High School High Regular 908 46 2
Vanguard Learning Center Middle Regular 275 18 NA

Enterprise Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 908
  • # of teachers: 46
2
GreatSchools Rating

Vanguard Learning Center

  • Education Level: Middle
  • # of students: 275
  • # of teachers: 18
NA
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,719
Property Tax -$577
Property Insurance -$50
Property Management Fees -$107
CASH FLOW
-$264

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.

$495,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 13.0%
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

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$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$14,590

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $2.29

    LIST RENT PER SQFT
  • $2,194

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,3003$2,5004$2,695
$2,695
RENT COMPS ANALYSIS
  • 12821 Clovis Avenue Los Angeles, CA 1
    • 3 beds 1 baths ∙ 958 Sqft ∙ Built 1948 3 beds 1 baths ∙ 958 Sqft ∙ Built 1948
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $2.29
    •  
  • 413 E 140th Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1956
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.30
    •  
  • 2319 W Corydon Street Compton, CA 3
    • 3 beds 1 baths ∙ 1,095 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,095 Sqft ∙ Built 1947
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.28
    •  
  • 15814 S Visalia Avenue Compton, CA 4
    • 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1953
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $2.29
    •  
PROPERTY LISTING DETAILS
Grace Torres-blanton
Elite Homes Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21032275
Last Updated: 02/16/2021
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