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132 E 124th Street Los Angeles, CA 90061

3 Beds 1 Baths 1,311 sqft Built 1953

$450,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $343.25
  • 14 Days on Market
  • MLS # : IG20251940
  • Updated Date : 12/18/2020 at 16:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,311 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Tired of renting? Why pay your landlord's rent when you can pay your own? Come take a look at one of the most affordable homes in the neighborhood. It's way below market value!!! Located in the Athens Village area of South Los Angeles with easy freeway access, schools, parks, churches, eateries, shopping and a public library nearby, this is the perfect home for a first time homebuyer(s) or investor. Nice and quiet community with a wide street that will accommodate curbside parking without overcrowding. This home offers great income opportunity as the detached 2 car garage can be converted into an additional dwelling unit. It needs some renovations and TLC, which is reflected in the discounted asking price...definitely a great buy!!!

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MARKET HIGHLIGHTS

  • 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)
  • 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: 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

  • 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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,660
Property Tax -$528
Property Insurance -$59
Property Management Fees -$127
CASH FLOW
$217

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.

$450,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.58%

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$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$69,225

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $2,992

    COMP ESTIMATED VALUE
  • $2.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,5904$2,8755$2,950
$2,950
RENT COMPS ANALYSIS
  • 132 E 124th Street Los Angeles, CA 3
    • 3 beds 1 baths ∙ 1,311 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,311 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.98
    •  
  • 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
    •  
  • 629 E 120th Street Los Angeles, CA 4
    • 4 beds 2 baths ∙ 1,526 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,526 Sqft ∙ Built 1948
    property image
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $1.88
    •  
  • 13226 Stanford Avenue Los Angeles, CA 5
    • 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
    •  
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 #: IG20251940
Last Updated: 12/18/2020
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