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2275 Moss Avenue Los Angeles, CA 90065

3 Beds 2 Baths 1,080 sqft Built 1927

$949,000

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1927
  • Price/Sqft : $878.70
  • 74 Days on Market
  • MLS # : SR20228295
  • Updated Date : 12/07/2020 at 12:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,080 sqft
  • Baths : 2 full
Listing Agent

Elite Residential Realty

Listing Agent's Description

Newly remodeled home in the sought after Mount Washington area. Light bright and airy combined with an updated open floor-plan makes this home feel warm and inviting. Walk inside to be greeted by the main focal point of the house, the original 1920's fireplace along with it's original brick detailing. Tall vaulted ceilings and a large glass sliding door leading to a balcony help bring both plenty of natural sunlight and space into the home. The guest bathroom adds a modern vibe to the home with a hint of funk with the mosaic tile flooring. The backyard features a raised seating area, perfect for hosting, and is accompanied by new landscaping. This house also features an incredible amount of storage space. Each room has it's own large closet for everyday storage. For additional storage the downstairs storage area as well as the oversized crawlspace provide all the storage space you'll ever need. Additional features include rooftop solar panels. Don't miss out on this beautiful newly renovated Mount Washington home.

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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: Glassell Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $187k751k

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

Neighborhood: Glassell Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16353350

* 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
Glassell Park Elementary School Primary Regular 452 20 2
Washington Irving Middle School Math Music Engineering Mag Middle Regular 632 31 6
Puc Early College Academy For Leaders And Scholars High Charter 446 20 6

Glassell Park Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 20
2
GreatSchools Rating

Washington Irving Middle School Math Music Engineering Mag

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 31
6
GreatSchools Rating

Puc Early College Academy For Leaders And Scholars

  • Education Level: High
  • # of students: 446
  • # of teachers: 20
6
GreatSchools Rating
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$3,296
Property Tax -$986
Property Insurance -$53
Property Management Fees -$148
CASH FLOW
-$1,463

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$949,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,296

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$88

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $2.8

    LIST RENT PER SQFT
  • $2,719

    COMP ESTIMATED VALUE
  • $2.52

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6003$3,0204$3,1005$3,300
$3,300
RENT COMPS ANALYSIS
  • 2275 Moss Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1927
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $2.80
    •  
  • 3312 Granada Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1912 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1912
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.08
    •  
  • 2639 Rich Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 896 Sqft ∙ Built 1923 3 beds 2 baths ∙ 896 Sqft ∙ Built 1923
    property image
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.90
    •  
  • 1051 Isabel Street Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1925
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.47
    •  
  • 3109 W Estara Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1923
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.62
    •  
PROPERTY LISTING DETAILS
Gall Ben-aharon
Elite Residential Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20228295
Last Updated: 12/07/2020
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