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1949 W 76th Street Los Angeles, CA 90047

3 Beds 2 Baths 1,480 sqft Built 1927

$849,900

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1927
  • Price/Sqft : $574.26
  • 2 Days on Market
  • MLS # : DW21058477
  • Updated Date : 03/20/2021 at 11:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,480 sqft
  • Baths : 2 full
Listing Agent

Vip Real Estate Firm

Listing Agent's Description

This beautiful Spanish-style home has been lovingly restored, updated, and offers contemporary tastes while maintaining its classic architectural integrity. Located in Morningside Circle, one of the hottest neighborhoods in the city of Los Angeles. It's everything you've always wanted! Open, bright, and spacious. This 3 bedroom, 2 bath features high ceilings, oversized windows, newly installed flooring, a new HVAC system, ample-sized bedrooms, a large master bedroom, designer style bathrooms, custom kitchen cabinets with beautiful pure white quartz countertops. Walk outside and enjoy your morning coffee on your oversized custom-built redwood deck. The 2 car garage has been conditioned with drywall and lighting - perfect to enjoy as a giant office, art studio, or can easily be converted into an ADU. The home sits on a large lot ( 6,500+ sq ft) perfect for all your entertaining, gardening, or just enjoying the outdoors. Centrally located to the city, you'll be close to the new Crenshaw/ LAX metro line, Inglewood's new SOFI stadium, and Baldwin Hills Crenshaw Plaza developments. This is an amazing opportunity with Destination Crenshaw just down the street. 15 min from Culver City, Balwin Hills scenic overlook, Playa Vista, LAX, DTLA, and close to favorites in Leimert Park like Hilltop Coffee, Post & Beam, and soon Jon & Vinny's.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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]
  • 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)

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
Crenshaw Magnets- Science Tech Engineer Math And Medicine High Magnet 981 54 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

Crenshaw Magnets- Science Tech Engineer Math And Medicine

  • Education Level: High
  • # of students: 981
  • # of teachers: 54
2
GreatSchools Rating
 

$764,910$934,890$849,900

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,952
Property Tax -$895
Property Insurance -$63
Property Management Fees -$142
CASH FLOW
-$1,161

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.

$849,900

PROJECTED PRICE

$2,890

PROJECTED RENT

0.34%

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$3.0M

PROJECTED ANNUAL CASH FLOW

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

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$230,974

INVESTMENT

$230,974

Down Payment
$212,475
Rehab Estimate
$5,750
Closing Costs
$12,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,475
Loan Amount $637,425
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$450

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $3,101

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,890
1$2,8902$2,9503$3,0304$3,4505$3,495
$3,495
RENT COMPS ANALYSIS
  • 1949 W 76th Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1927
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $1.95
    •  
  • 1523 W 82nd Street Los Angeles, CA 2
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1926 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1926
    LEASED 03/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.97
    •  
  • 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
Rafael Alvarado
Vip Real Estate Firm
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21058477
Last Updated: 03/20/2021
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