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1771 S Genesee Avenue Los Angeles, CA 90019

3 Beds 2 Baths 1,781 sqft Built 1932

$1,425,000

List Price

$4,480

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1932
  • Price/Sqft : $800.11
  • 45 Days on Market
  • MLS # : TR20260154
  • Updated Date : 01/25/2021 at 13:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,781 sqft
  • Baths : 2 full
Listing Agent

Ehomes

Listing Agent's Description

Beautiful Spanish Colonial Revival home located in the highly sought after PicFair neighborhood. This property is a must-see, the pride of ownership is seen through every aspect of this property including the original hardwood floors with decorative inlays, original wooden doors, custom cabinetry. Many of the home's original details have been preserved by the current owner. This spacious corner lot with significant curb appeal boasts an eye-catching low-maintenance hardscape that leads to a unique front entrance. The arched entryway leads to an amazing patio perfect for entertaining or dining al fresco! At over 1,700 sf this spacious, charming, sun-filled home offers 3 bedrooms and 2 bathrooms! Home is centrally located and just minutes from Beverly Hills, Downtown Los Angeles, Hollywood, Culver City.

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Picfair Village

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $187k1036k

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

Neighborhood: Picfair Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $16354533

* 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
Crescent Heights Boulevard Elementary School Primary Alternative 377 17 4
Daniel Webster Middle School Middle Regular 454 30 3
Alexander Hamilton Senior High School High Magnet 2,941 121 6

Crescent Heights Boulevard Elementary School

  • Education Level: Primary
  • # of students: 377
  • # of teachers: 17
4
GreatSchools Rating

Daniel Webster Middle School

  • Education Level: Middle
  • # of students: 454
  • # of teachers: 30
3
GreatSchools Rating

Alexander Hamilton Senior High School

  • Education Level: High
  • # of students: 2,941
  • # of teachers: 121
6
GreatSchools Rating
 

$1,282,500$1,567,500$1,425,000

PURCHASE PRICE

$4,032$4,928$4,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,480
EXPENSES Loan Payment -$4,950
Property Tax -$1,435
Property Insurance -$70
Property Management Fees -$220
CASH FLOW
-$2,194

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.

$1,425,000

PROJECTED PRICE

$4,480

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 11.7%
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-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$383,375

INVESTMENT

$383,375

Down Payment
$356,250
Rehab Estimate
$5,750
Closing Costs
$21,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,950

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $356,250
Loan Amount $1,068,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$129

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,480

    LIST RENT
  • $2.52

    LIST RENT PER SQFT
  • $3,963

    COMP ESTIMATED VALUE
  • $2.23

    COMP AVG. RENT PER SQFT
Comps Range
$3,451
1$3,4512$4,1653$4,2504$4,4005$4,480
$4,480
RENT COMPS ANALYSIS
  • 1771 S Genesee Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1932
    • Rent
    • Rent Per SQFT
    •  
    • $4,480
    • $2.52
    •  
  • 232 S Doheny Drive Beverly Hills, CA 1
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1926
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,451
    • $2.14
    •  
  • 1213 S Orange Drive Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1926 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1926
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,165
    • $2.25
    •  
  • 1323 S Burnside Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1936 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1936
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.31
    •  
  • 1158 S Cochran Avenue Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 1935 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 1935
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.20
    •  
PROPERTY LISTING DETAILS
Elmer Morales
Ehomes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20260154
Last Updated: 01/25/2021
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