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1438 Allesandro Street Los Angeles, CA 90026

3 Beds 2 Baths 1,045 sqft Built 1913

$750,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1913
  • Price/Sqft : $717.70
  • 4 Days on Market
  • MLS # : 220010742
  • Updated Date : 11/01/2020 at 09:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,045 sqft
  • Baths : 2 full
Listing Agent

Century 21 Everest

Listing Agent's Description

GREAT CURB APPEAL! Located in the heart of trendy Silver Lake. Perfect for artists and actors in the entertainment industry due to its close proximity to Sunset Blvd, Downtown and more! Just a short distance to Sunset & Gower, this historic newly updated single story home has 3 bedrooms and 2 baths and a studio/hobby/storage room, with a nice backyard and a garage, which most homes on the street do not offer. Kitchen in nice size with oak cabinets, fridge and NEW STAINLESS STEEL RANGE/OVEN.. to be installed in next couple of days..2 of the 3 bedrooms, including the master, have direct access to outdoors. Dining room has views of the side courtyard which is perfect for private entertaining and gatherings. One car garage and private driveway on the property!! New homes are going up all around this area and this is your chance to be a part of this eclectic neighborhood!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Echo Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $187k925k

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

Neighborhood: Echo Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $16353867

* 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
Mayberry Street Elementary School Primary Regular 295 13 1
Thomas Starr King Middle School Magnet- Film And Media Middle Regular 1,811 72 7
John Marshall Senior High High Regular 2,463 91 8

Mayberry Street Elementary School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 13
1
GreatSchools Rating

Thomas Starr King Middle School Magnet- Film And Media

  • Education Level: Middle
  • # of students: 1,811
  • # of teachers: 72
7
GreatSchools Rating

John Marshall Senior High

  • Education Level: High
  • # of students: 2,463
  • # of teachers: 91
8
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,767
Property Tax -$763
Property Insurance -$52
Property Management Fees -$147
CASH FLOW
-$729

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$750,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 11.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$15k-$10k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$9,334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $2.87

    LIST RENT PER SQFT
  • $3,107

    COMP ESTIMATED VALUE
  • $2.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$3,0003$3,6004$3,800
$3,800
RENT COMPS ANALYSIS
  • 1438 Allesandro Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,045 Sqft ∙ Built 1913 3 beds 2 baths ∙ 1,045 Sqft ∙ Built 1913
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.87
    •  
  • 2639 Rich Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 896 Sqft ∙ Built 1923 3 beds 2 baths ∙ 896 Sqft ∙ Built 1923
    property image
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.90
    •  
  • 2250 N Alvarado Street Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1925
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $3.00
    •  
  • 1923 Hyperion Avenue Los Angeles, CA 4
    • 3 beds 1 baths ∙ 1,260 Sqft ∙ Built 1921 3 beds 1 baths ∙ 1,260 Sqft ∙ Built 1921
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.02
    •  
PROPERTY LISTING DETAILS
Judy Lewicki
Century 21 Everest
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 220010742
Last Updated: 11/01/2020
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