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1936 W 79th Street Los Angeles, CA 90047

3 Beds 1 Baths 1,248 sqft Built 1928

$550,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1928
  • Price/Sqft : $440.71
  • 2 Days on Market
  • MLS # : 20659500
  • Updated Date : 11/14/2020 at 11:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,248 sqft
  • Baths : 1 full
Listing Agent

The Service Company Realty

Listing Agent's Description

Single Family Home located in Metropolitan Southwest Area. You will enjoy the benefits of being centrally located to major freeways, LAX, Downtown Los Angeles, Metro Rail, So-Fi Stadium, and the Forum. This is an excellent opportunity for a 1st time homeowner or investor. With a little "TLC" this gem could be yours. Seller reserves all services and all information is approximate, but not guaranteed. The perspective buyer and buyer's agent shall complete their own due diligence. Home is being sold, "As-Is." Seller will not make any repairs.

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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
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
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,029
Property Tax -$579
Property Insurance -$57
Property Management Fees -$121
CASH FLOW
-$326

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.

$550,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.45%

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

PROJECTED ANNUAL CASH FLOW

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

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$19,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $2,686

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,460
1$2,4602$2,6003$2,8004$2,9955$3,000
$3,000
RENT COMPS ANALYSIS
  • 1936 W 79th Street Los Angeles, CA 1
    • 3 beds 1 baths ∙ 1,248 Sqft ∙ Built 1928 3 beds 1 baths ∙ 1,248 Sqft ∙ Built 1928
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.97
    •  
  • 2140 W 84th Street Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,386 Sqft ∙ Built 1927 3 beds 1 baths ∙ 1,386 Sqft ∙ Built 1927
    property image
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.88
    •  
  • 7819 S Normandie Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1935
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.27
    •  
  • 1815 W 83rd Street Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1928
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.37
    •  
  • 1839 W 89th Street Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1939
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.09
    •  
PROPERTY LISTING DETAILS
Leonard Cross
The Service Company Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20659500
Last Updated: 11/14/2020
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