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2108 N Eastern Avenue Los Angeles, CA 90032

4 Beds 2 Baths 1,200 sqft Built 1941

$739,900

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $616.58
  • 2 Days on Market
  • MLS # : CV21008343
  • Updated Date : 01/16/2021 at 18:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Etoprealestate

Listing Agent's Description

Nestled in the quiet neighborhood of El Serreno, your beautifully crafted home awaits. From the moment you enter you'll be greeted by an inviting open and spacious floor plan. The main home features 3 bedrooms, 1 bath, and indoor laundry (brand new front loading washer & dryer included). The home has been completely remodeled for modern day living while retaining it's warm and inviting character. Featuring, new dual pane windows, new HVAC, wide plank wood laminate flooring, freshly painted inside and out, open floor plan, modern kitchen featuring, white shaker kitchen cabinetry, quartz counters, stainless steel appliances, counter depth fridge, subway tiles, recessed lighting, completely remodeled bathrooms, tile walk-in bath showers, landscaped yard, plenty of room to add onto the existing home or build an additional ADU/guest unit. The rear unit/studio features it's own separate entrance, kitchenette featuring stainless steel fridge, range, microwave, stainless steel sink, white shaker cabinetry, quartz counters, subway tile backsplash, tile walk in shower, glass sliding shower doors and comfortable living space. Perfectly situated in a wonderful neighborhood, close to your everyday needs, fantastic schools and universities/colleges UCLA, USC, Cal State LA, hospitals, parks, markets, local eateries, easy access to all major freeways and minutes to Downtown Los Angeles! Truly a remarkable place to call your new home, we invite you to come and see it today and make it yours!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: El Sereno

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $151k725k

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

Neighborhood: El Sereno

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16373316

* 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
Farmdale Elementary School Primary Regular 526 26 2
El Sereno Middle School Middle Regular 1,276 65 4
Abraham Lincoln Senior High School High Regular 1,219 54 5

Farmdale Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 26
2
GreatSchools Rating

El Sereno Middle School

  • Education Level: Middle
  • # of students: 1,276
  • # of teachers: 65
4
GreatSchools Rating

Abraham Lincoln Senior High School

  • Education Level: High
  • # of students: 1,219
  • # of teachers: 54
5
GreatSchools Rating
 

$665,910$813,890$739,900

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,570
Property Tax -$769
Property Insurance -$56
Property Management Fees -$130
CASH FLOW
-$874

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.

$739,900

PROJECTED PRICE

$2,650

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.9%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,824

INVESTMENT

$201,824

Down Payment
$184,975
Rehab Estimate
$5,750
Closing Costs
$11,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,570

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $184,975
Loan Amount $554,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,762

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $2.21

    LIST RENT PER SQFT
  • $2,928

    COMP ESTIMATED VALUE
  • $2.44

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$2,9954$3,2005$3,299
$3,299
RENT COMPS ANALYSIS
  • 2108 N Eastern Avenue Los Angeles, CA 2
    • 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1941 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.21
    •  
  • 1620 N Soto Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1928
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.60
    •  
  • 3334 City Terrace Drive Los Angeles, CA 3
    • 4 beds 3 baths ∙ 1,300 Sqft ∙ Built 1940 4 beds 3 baths ∙ 1,300 Sqft ∙ Built 1940
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.30
    •  
  • 3300 Pomeroy Street City Terrace, CA 4
    • 3 beds 1 baths ∙ 1,278 Sqft ∙ Built 1926 3 beds 1 baths ∙ 1,278 Sqft ∙ Built 1926
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.50
    •  
  • 2021 Vineburn Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1941
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,299
    • $2.36
    •  
PROPERTY LISTING DETAILS
Hung Ngo
Etoprealestate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21008343
Last Updated: 01/16/2021
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