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2237 Cambridge Street Los Angeles, CA 90006

4 Beds 2 Baths 2,162 sqft Built 1906

$1,080,000

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1906
  • Price/Sqft : $499.54
  • 3 Days on Market
  • MLS # : 21680930
  • Updated Date : 01/15/2021 at 13:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,162 sqft
  • Baths : 2 full
Listing Agent

New Star Realty

Listing Agent's Description

4bed and 2 1/4 bath, in Harvard Heights HPOZ zoning. Kitchen is remodeled, There are 2 hot water tank replaced with copper pipe. This property is located within 5 minutes away from Koreatown, it's close to the 10 fwy, close to public transportation. It's a very bright house. Currently, its rented out at $5,000 to a tenant that runs a Air B n B.

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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: Harvard Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $153k869k

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

Neighborhood: Harvard Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183341

* 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
Los Angeles Elementary School Primary Regular 803 32 5
Pio Pico Middle School Middle Regular 625 28 5
West Adams Preparatory High School High Regular 1,684 85 2

Los Angeles Elementary School

  • Education Level: Primary
  • # of students: 803
  • # of teachers: 32
5
GreatSchools Rating

Pio Pico Middle School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 28
5
GreatSchools Rating

West Adams Preparatory High School

  • Education Level: High
  • # of students: 1,684
  • # of teachers: 85
2
GreatSchools Rating
 

$972,000$1,188,000$1,080,000

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$3,751
Property Tax -$1,126
Property Insurance -$79
Property Management Fees -$176
CASH FLOW
-$1,542

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.

$1,080,000

PROJECTED PRICE

$3,590

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 12.0%
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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$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$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$291,950

INVESTMENT

$291,950

Down Payment
$270,000
Rehab Estimate
$5,750
Closing Costs
$16,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,751

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $270,000
Loan Amount $810,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $1.66

    LIST RENT PER SQFT
  • $3,985

    COMP ESTIMATED VALUE
  • $1.84

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,5903$3,8004$4,200
$4,200
RENT COMPS ANALYSIS
  • 2237 Cambridge Street Los Angeles, CA 2
    • 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 1906 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 1906
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $1.66
    •  
  • 101 S Mariposa Los Angeles, CA 1
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1910 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1910
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.80
    •  
  • 1141 S Rimpau Boulevard Los Angeles, CA 3
    • 4 beds 1 baths ∙ 1,850 Sqft ∙ Built 1925 4 beds 1 baths ∙ 1,850 Sqft ∙ Built 1925
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.05
    •  
  • 1740 S Harvard Boulevard Los Angeles, CA 4
    • 3 beds 2 baths ∙ 2,500 Sqft ∙ Built 1903 3 beds 2 baths ∙ 2,500 Sqft ∙ Built 1903
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.68
    •  
PROPERTY LISTING DETAILS
Hye Ok Lee
New Star Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21680930
Last Updated: 01/15/2021
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