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1700 W 84th Street Los Angeles, CA 90047

3 Beds 1 Baths 1,667 sqft Built 1924

$649,900

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1924
  • Price/Sqft : $389.86
  • 2 Days on Market
  • MLS # : CV21005036
  • Updated Date : 01/09/2021 at 12:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,667 sqft
  • Baths : 1 full
Listing Agent

Century 21 King

Listing Agent's Description

Attention Developers, Investors, Principals!!Dream house, an original with some upgrades residence in a Prime Location of Los Angeles has a spacious & fully fenced front and backyard, detached 2 car garage, and plenty of room to relax with fruit trees and to entertain! Excellent floor plan, large living room, separate dining room and good size kitchen, 3 bedrooms and 1 bath, one of the bedrooms is set up like a studio with a living room and a bedroom with separate entrance, also there is a bonus room/den can be easily be a bedroom. This neighborhood has pride of home ownership, centrally located, just minutes away from the future LA Rams and Chargers football stadium, The Inglewood Forum, LAX, Crenshaw light rail, and major freeways. The corner lot value adds incredible potential because of the RD2 zoning the 2-car garage which may be used as a possible ADU (buyer to verify with city) or you may be able to build a 2 story units since lot has tons of potential. Ideal for buyers that have an eye for remodeling and renovating. Investors if you are looking for your next project this may be the one, this home will not last!!

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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: Manchester Square

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k725k

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

Neighborhood: Manchester Square

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
La Salle Avenue Elementary School Primary Regular 439 19 1
Horace Mann Middle School Middle Regular 425 19 NA
George Washington Preparatory Senior High School High Regular 1,175 64 2

La Salle Avenue Elementary School

  • Education Level: Primary
  • # of students: 439
  • # of teachers: 19
1
GreatSchools Rating

Horace Mann Middle School

  • Education Level: Middle
  • # of students: 425
  • # of teachers: 19
NA
GreatSchools Rating

George Washington Preparatory Senior High School

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

$584,910$714,890$649,900

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$2,257
Property Tax -$684
Property Insurance -$67
Property Management Fees -$152
CASH FLOW
-$60

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.

$649,900

PROJECTED PRICE

$3,100

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 12.8%
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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,257

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$44,969

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.86

    LIST RENT PER SQFT
  • $3,459

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$3,030
1$3,0302$3,1003$3,2004$3,4955$3,500
$3,500
RENT COMPS ANALYSIS
  • 1700 W 84th Street Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,667 Sqft ∙ Built 1924 3 beds 1 baths ∙ 1,667 Sqft ∙ Built 1924
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.86
    •  
  • 1265 W 82nd Street Los Angeles, CA 1
    • 3 beds 1 baths ∙ 1,525 Sqft ∙ Built 1936 3 beds 1 baths ∙ 1,525 Sqft ∙ Built 1936
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $1.99
    •  
  • 2116 W 93rd Street Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1941
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.07
    •  
  • 2704 84th Place Inglewood, CA 4
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1938 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1938
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.18
    •  
  • 1719 W 79th Street Los Angeles, CA 5
    • 3 beds 1 baths ∙ 1,700 Sqft ∙ Built 1927 3 beds 1 baths ∙ 1,700 Sqft ∙ Built 1927
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.06
    •  
PROPERTY LISTING DETAILS
Ricardo Acevedo
Century 21 King
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21005036
Last Updated: 01/09/2021
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