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1334 Fraser Avenue East Los Angeles, CA 90022

3 Beds 1 Baths 1,176 sqft Built 1924

$569,800

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1924
  • Price/Sqft : $484.52
  • 2 Days on Market
  • MLS # : DW21150036
  • Updated Date : 07/12/2021 at 18:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,176 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Sela

Listing Agent's Description

Charming Montebello adjacent 3 bedroom 3 bath home in East Los Angeles with a spacious lot...perfect for Family Gatherings! R4 lot (Per Assessor's Office) boasting approximately 4,836sf of land. Possibilities of building additional units (Buyer to verify build ability with local municipality)...or simply designing the garden oasis you always dreamed of having. This spacious home is perfect for those seeking good sized bedrooms and a beautiful traditional style kitchen and updated Bathroom! Kitchen has tile countertops and plenty of wood cabinetry for storing all of a chefs needs. Additional entertaining space in the kitchen with a built in bar area for dining. Adjacent to the kitchen you will find a nice sized dining area. Plenty of lighting in the living room/kitchen. Bedrooms have lighted fans for those warm summer days. Hallway full bathroom has a large vanity with plenty of wood cabinets and nicely tiled shower walls. Great quality tile flooring throughout. Large master bedroom with its own 3/4 bath and a bonus separate entrance. Many of the windows throughout are dual pane energy efficient windows. Exterior covered laundry area with washer/dryer hookups. Long paved driveway leads to the detached 2 car garage at rear so there is plenty of parking on driveway as well as plenty of additional parking at rear. Garage has an attached bonus room currently being used as storage along with its own 3/4 bathroom...possible small ADU? Granny Unit? Excellent location to all major shopping, business areas and freeways. Part of the Montebello Unified School District. This home has it all!!! What are you waiting for? Buyers are to verify entire condition & all info on their own & satisfy themselves as to all aspects of this property. Info deemed reliable but not guaranteed. Buyer to conduct their own research related to property size, zoning, building restrictions, tenant rights, etc.

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MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: East Los Angeles

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $139k725k

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

Neighborhood: East Los Angeles

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14773316

* 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
Winter Gardens Elementary School Primary Regular 659 33 2
Montebello Intermediate School Middle Regular 1,084 35 3
Montebello High School High Regular 2,821 110 3

Winter Gardens Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 33
2
GreatSchools Rating

Montebello Intermediate School

  • Education Level: Middle
  • # of students: 1,084
  • # of teachers: 35
3
GreatSchools Rating

Montebello High School

  • Education Level: High
  • # of students: 2,821
  • # of teachers: 110
3
GreatSchools Rating
 

$512,820$626,780$569,800

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,979
Property Tax -$679
Property Insurance -$55
Property Management Fees -$128
CASH FLOW
-$232

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.

$569,800

PROJECTED PRICE

$2,610

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 10.9%
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$156,747

INVESTMENT

$156,747

Down Payment
$142,450
Rehab Estimate
$5,750
Closing Costs
$8,547

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,979

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,450
Loan Amount $427,350
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$22,315

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $2.22

    LIST RENT PER SQFT
  • $2,905

    COMP ESTIMATED VALUE
  • $2.47

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,610
$2,610
RENT COMPS ANALYSIS
  • 1334 Fraser Avenue East Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,176 Sqft ∙ Built 1924 3 beds 1 baths ∙ 1,176 Sqft ∙ Built 1924
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $2.22
    •  
  • 523 S Belden Ave N East Los Angeles, CA 1
    • 3 beds 1 baths ∙ 870 Sqft ∙ Built 1923 3 beds 1 baths ∙ 870 Sqft ∙ Built 1923
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $2.47
    •  
PROPERTY LISTING DETAILS
Jennifer Avellan
Keller Williams Sela
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21150036
Last Updated: 07/12/2021
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