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1932 W 79th Street Los Angeles, CA 90047

3 Beds 2 Baths 1,404 sqft Built 1927

$599,999

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1927
  • Price/Sqft : $427.35
  • 7 Days on Market
  • MLS # : SR20253329
  • Updated Date : 12/08/2020 at 19:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 2 full
Listing Agent

Dwell California Real Estate & Investments, Inc.

Listing Agent's Description

This quaint Single Residence is located in a very serene neighborhood in Southwest Los Angeles less than 2 miles from SoFi Stadium, The Forum, and Hollywood Park Casino. It is also centrally located between the 105, 110, & 405 freeways. This lovely home could use a few upgrades to make it your own, nevertheless it is perfect as a starter home or as an investors project. The property also has a studio apartment with its own entrance and private bathroom. Please do not disturb the owner as this property will be available to show Saturday 12/12//20 from 11am to 3pm BY APPOINTMENT ONLY.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

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
74th Street Elementary School Primary Regular 557 23 4
Horace Mann Middle School Middle Regular 425 19 NA
George Washington Preparatory Senior High School High Regular 1,175 64 2

74th Street Elementary School

  • Education Level: Primary
  • # of students: 557
  • # of teachers: 23
4
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
 

$539,999$659,999$599,999

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,214
Property Tax -$632
Property Insurance -$61
Property Management Fees -$147
CASH FLOW
-$53

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.

$599,999

PROJECTED PRICE

$3,000

PROJECTED RENT

0.50%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,000
Loan Amount $449,999
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$51,748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $2.14

    LIST RENT PER SQFT
  • $3,082

    COMP ESTIMATED VALUE
  • $2.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,0003$3,0304$3,4505$3,495
$3,495
RENT COMPS ANALYSIS
  • 1932 W 79th Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1927
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.14
    •  
  • 1815 W 83rd Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1928
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.37
    •  
  • 1265 W 82nd Street Los Angeles, CA 3
    • 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
    •  
  • 2916 W 79th Street Inglewood, CA 4
    • 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1936 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1936
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.24
    •  
  • 2704 84th Place Inglewood, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Shawn Harris
Dwell California Real Estate & Investments, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20253329
Last Updated: 12/08/2020
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