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1510 Lucretia Avenue Los Angeles, CA 90026

3 Beds 2 Baths 2,084 sqft Built 1911

$1,249,000

List Price

$5,520

$5.3K - $5.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1911
  • Price/Sqft : $599.33
  • 4 Days on Market
  • MLS # : 21700150
  • Updated Date : 03/04/2021 at 10:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,084 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

A reimagined modern home in Echo Park. Totally renovated in the last year with the highest quality finishes, this open and airy light-filled home has giant vaulted ceilings with exposed wood beams, hardwood floors, natural stone, and tile baths, stone and marble kitchen counters. Custom woodwork throughout. In addition to the 3 beds and 2 baths, there is an office area perfect for work at home. Bringing the outdoors in, decks off of one of the bedrooms and off the dining room have sliding doors and large panes of glass. The upstairs master suite features views of downtown LA. The one-car garage is perfect for your storage needs. Close to all Echo Park and Silverlake have to offer.

SEE MORE

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)
  • 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]
  • 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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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 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
Belmont Senior High School High Regular 978 49 4

Belmont Senior High School

  • Education Level: High
  • # of students: 978
  • # of teachers: 49
4
GreatSchools Rating
 

$1,124,100$1,373,900$1,249,000

PURCHASE PRICE

$4,968$6,072$5,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,520
EXPENSES Loan Payment -$4,338
Property Tax -$1,270
Property Insurance -$77
Property Management Fees -$270
CASH FLOW
-$436

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.

$1,249,000

PROJECTED PRICE

$5,520

PROJECTED RENT

0.44%

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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k$40k$50k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$336,735

INVESTMENT

$336,735

Down Payment
$312,250
Rehab Estimate
$5,750
Closing Costs
$18,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$4,338

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $312,250
Loan Amount $936,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$57,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,520

    LIST RENT
  • $2.65

    LIST RENT PER SQFT
  • $5,293

    COMP ESTIMATED VALUE
  • $2.54

    COMP AVG. RENT PER SQFT
Comps Range
$4,750
1$4,7502$5,520
$5,520
RENT COMPS ANALYSIS
  • 1510 Lucretia Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 2,084 Sqft ∙ Built 1911 3 beds 2 baths ∙ 2,084 Sqft ∙ Built 1911
    • Rent
    • Rent Per SQFT
    •  
    • $5,520
    • $2.65
    •  
  • 1711 Scott Avenue Los Angeles, CA 1
    • 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 1906 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 1906
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.54
    •  
PROPERTY LISTING DETAILS
Robert A Rodriguez
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21700150
Last Updated: 03/04/2021
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