Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

222 N Coronado Street Los Angeles, CA 90026

3 Beds 2 Baths 1,323 sqft Built 1911

$899,900

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1911
  • Price/Sqft : $680.20
  • 6 Days on Market
  • MLS # : SR21048488
  • Updated Date : 03/11/2021 at 11:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,323 sqft
  • Baths : 1 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices California Properties

Listing Agent's Description

Fabulous opportunity to own this turn of the century craftsman home that is centrally located and close to all of the trendy restaurants and shops that Silver Lake, DTLA and Echo Park has to offer. Built in 1911 there are still many of the beautiful craftsman elements such as beamed ceilings, built in cabinetry and large windows. Zoned RD1.5 with the possibility of increased density there are many options to make this an amazing opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Historic Filipinotown

ZipNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $153k957k

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

Neighborhood: Historic Filipinotown

ZipNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17184126

* 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
Rosemont Avenue Elementary School Primary Regular 456 21 2
Virgil Middle School Middle Regular 904 43 5
Belmont Senior High School High Regular 978 49 4

Rosemont Avenue Elementary School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 21
2
GreatSchools Rating

Virgil Middle School

  • Education Level: Middle
  • # of students: 904
  • # of teachers: 43
5
GreatSchools Rating

Belmont Senior High School

  • Education Level: High
  • # of students: 978
  • # of teachers: 49
4
GreatSchools Rating
 

$809,910$989,890$899,900

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$3,126
Property Tax -$906
Property Insurance -$59
Property Management Fees -$159
CASH FLOW
-$1,000

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.

$899,900

PROJECTED PRICE

$3,250

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.2%
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$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$244,224

INVESTMENT

$244,224

Down Payment
$224,975
Rehab Estimate
$5,750
Closing Costs
$13,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,126

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,975
Loan Amount $674,925
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$3,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $2.46

    LIST RENT PER SQFT
  • $3,265

    COMP ESTIMATED VALUE
  • $2.47

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2503$3,9004$3,9955$4,200
$4,200
RENT COMPS ANALYSIS
  • 222 N Coronado Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1911 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1911
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.46
    •  
  • 110 S Virgil Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1923
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.14
    •  
  • 1125 N Heliotrope Drive Los Angeles, CA 3
    • 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1919 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1919
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.41
    •  
  • 218 N Serrano Avenue Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1917 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1917
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.53
    •  
  • 1310 N Coronado Street Los Angeles, CA 5
    • 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1922 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1922
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.79
    •  
PROPERTY LISTING DETAILS
Steve Shanks
Berkshire Hathaway Homeservices California Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21048488
Last Updated: 03/11/2021
BESbswy