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1525 W 96th Street Los Angeles, CA 90047

3 Beds 3 Baths 1,917 sqft Built 1931

$670,000

List Price

$3,340

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1931
  • Price/Sqft : $349.50
  • 2 Days on Market
  • MLS # : 20672154
  • Updated Date : 12/19/2020 at 13:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,917 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

Beautiful 3 bedroom, 3 bath home in a desirable part of Los Angeles. The living room is large with a high arched ceiling and a fireplace that opens to a formal dining area. The kitchen is open and nice sized. A quaint nook is off the kitchen. The listing agent has not completely viewed the interior of the home. MLS will be updated as soon as the agent has viewed the entire interior. Come be the newest neighbor!

SEE MORE

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: Gramercy Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $146k725k

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

Neighborhood: Gramercy Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183316

* 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
Manhattan Place Elementary School Primary Regular 400 18 1
Animo Phillis Wheatley Charter Middle School Middle Charter 623 34 2
George Washington Preparatory Senior High School High Regular 1,175 64 2

Manhattan Place Elementary School

  • Education Level: Primary
  • # of students: 400
  • # of teachers: 18
1
GreatSchools Rating

Animo Phillis Wheatley Charter Middle School

  • Education Level: Middle
  • # of students: 623
  • # of teachers: 34
2
GreatSchools Rating

George Washington Preparatory Senior High School

  • Education Level: High
  • # of students: 1,175
  • # of teachers: 64
2
GreatSchools Rating
 

$603,000$737,000$670,000

PURCHASE PRICE

$3,006$3,674$3,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,340
EXPENSES Loan Payment -$2,472
Property Tax -$705
Property Insurance -$73
Property Management Fees -$164
CASH FLOW
-$74

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.

$670,000

PROJECTED PRICE

$3,340

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 10.0%
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$25k$30k

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$183,300

INVESTMENT

$183,300

Down Payment
$167,500
Rehab Estimate
$5,750
Closing Costs
$10,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $167,500
Loan Amount $502,500
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$56,084

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,340

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $3,575

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,795
1$2,7952$3,0003$3,3004$3,3405$3,600
$3,600
RENT COMPS ANALYSIS
  • 1525 W 96th Street Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,917 Sqft ∙ Built 1931 3 beds 3 baths ∙ 1,917 Sqft ∙ Built 1931
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,340
    • $1.74
    •  
  • 2066 Thoreau Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1947
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.61
    •  
  • 9906 Haas Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1949
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.88
    •  
  • 8801 S 6th Avenue Inglewood, CA 3
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1931
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.74
    •  
  • 10211 S St Andrews Place Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1940
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.23
    •  
PROPERTY LISTING DETAILS
Ronald G Jackson
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20672154
Last Updated: 12/19/2020
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