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132 E 124th Street Los Angeles, CA 90061

4 Beds 2 Baths 1,311 sqft Built 1953

$600,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $457.67
  • 3 Days on Market
  • MLS # : IG21051452
  • Updated Date : 03/13/2021 at 20:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,311 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Gorgeous remodeled home located in the Athens Village community boasts an open concept kitchen, dining and living area. The kitchen has a modern exhaust fan, pendant lights, new cabinetry and quartz countertops. The bathrooms are decorated with beautiful vanities with quartz, wood framed mirrors and subway tile. New waterproof vinyl floors throughout add a touch of elegance and fluidity. Brand new energy efficient dual pane windows and blinds throughout. The rear patio deck offers a nice outdoor living/entertainment area. The backyard is large enough for a play area and also to host family gatherings. Other upgrades include a new roll up garage door with decorative windows, all new plumbing and electrical throughout. This perfect home, for first time home buyers or a family looking to upgrade, is in a nice and quiet community with a wide street that will accommodate curbside parking without overcrowding. Freeways are easily accessible. Schools, parks, churches, eateries, shopping and a public library are also in close proximity. Buyer to conduct own investigation to verify permits.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]
  • 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)
  • 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)

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
122nd Street Elementary School Primary Regular 721 31 6
Samuel Gompers Middle School Middle Regular 617 37 1
122nd Street Elementary School Primary Unknown NA

122nd Street Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 31
6
GreatSchools Rating

Samuel Gompers Middle School

  • Education Level: Middle
  • # of students: 617
  • # of teachers: 37
1
GreatSchools Rating

122nd Street Elementary School

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

$540,000$660,000$600,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,084
Property Tax -$704
Property Insurance -$59
Property Management Fees -$130
CASH FLOW
-$317

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.

$600,000

PROJECTED PRICE

$2,660

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$2.5M

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$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$18,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $2.03

    LIST RENT PER SQFT
  • $3,179

    COMP ESTIMATED VALUE
  • $2.43

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,6604$2,9505$3,500
$3,500
RENT COMPS ANALYSIS
  • 132 E 124th Street Los Angeles, CA 3
    • 4 beds 2 baths ∙ 1,311 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,311 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $2.03
    •  
  • 413 E 140th Street Los Angeles, CA 1
    • 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
    •  
  • 13424 S New Hampshire Avenue Gardena, CA 2
    • 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
    •  
  • 13226 Stanford Avenue Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,145 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,145 Sqft ∙ Built 1947
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.58
    •  
  • 153 E 137th Street Los Angeles, CA 5
    • 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1950
    property image
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.45
    •  
PROPERTY LISTING DETAILS
Tamra Pulliam
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21051452
Last Updated: 03/13/2021
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