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1909 Pelham Avenue #111 Los Angeles, CA 90025

3 Beds 3 Baths 1,717 sqft Built 1974

$973,000

List Price

$4,080

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $566.69
  • 18 Days on Market
  • MLS # : 20672936
  • Updated Date : 01/06/2021 at 21:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,717 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nc Development Group, Inc.

Listing Agent's Description

A Must See! This spacious two-story townhouse style condo located in highly desired West LA neighborhood. Ground floor facing front, end unit. 3 bedrooms, 2.5 baths, including downstairs Powder Room. Very bright open floor plan. Walk out balcony off Living Room. Remodeled kitchen with granite countertops, breakfast bar and stainless-steel appliances. Living room recessed lighting, crown molding, custom made fireplace, coffered ceilings, and porcelain tile floors. Master Suite with fireplace, dual sinks, walk-in closet, stand allow shower, soaking jet tub, and large walk out balcony. A secured 2-car parking with private storage cabinet. Pool and recreation/meeting room. HOA Dues include earthquake insurance. Prime location, close to Westfield Century City Mall, UCLA and Westwood Blvd. Submit your highest and best offer by 01/11/2021

SEE MORE

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: Westside

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $199k1406k

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

Neighborhood: Westside

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q220002500300035004000450050005500Rent in $17845611

* 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
Westwood Charter Elementary School Primary Charter 883 36 9
Emerson Community Charter School Middle Regular 533 23 5
University Senior High School High Regular 1,763 72 7

Westwood Charter Elementary School

  • Education Level: Primary
  • # of students: 883
  • # of teachers: 36
9
GreatSchools Rating

Emerson Community Charter School

  • Education Level: Middle
  • # of students: 533
  • # of teachers: 23
5
GreatSchools Rating

University Senior High School

  • Education Level: High
  • # of students: 1,763
  • # of teachers: 72
7
GreatSchools Rating
 

$875,700$1,070,300$973,000

PURCHASE PRICE

$3,672$4,488$4,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,080
EXPENSES Loan Payment -$3,380
Property Tax -$1,057
Property Insurance -$68
HOA -$425
Property Management Fees -$200
CASH FLOW
-$1,050

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.

$973,000

PROJECTED PRICE

$4,080

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$263,595

INVESTMENT

$263,595

Down Payment
$243,250
Rehab Estimate
$5,750
Closing Costs
$14,595

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,380

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $243,250
Loan Amount $729,750
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$3,266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,080

    LIST RENT
  • $2.38

    LIST RENT PER SQFT
  • $4,151

    COMP ESTIMATED VALUE
  • $2.42

    COMP AVG. RENT PER SQFT
Comps Range
$3,700
1$3,7002$3,9953$4,0804$4,2005$4,650
$4,650
RENT COMPS ANALYSIS
  • 1909 Pelham Avenue Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,080
    • $2.38
    •  
  • 1850 Midvale Avenue Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1975
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.31
    •  
  • 1818 Parnell Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 1973
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.14
    •  
  • 10664 Wilkins Avenue Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1991
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.55
    •  
  • 1655 Selby Avenue Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1980
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,650
    • $2.67
    •  
PROPERTY LISTING DETAILS
Pouria Namazi
Nc Development Group, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20672936
Last Updated: 01/06/2021
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