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2643 Arvia Street Los Angeles, CA 90065

3 Beds 1 Baths 1,074 sqft Built 1915

$789,000

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1915
  • Price/Sqft : $734.64
  • 3 Days on Market
  • MLS # : 21703886
  • Updated Date : 03/19/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,074 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Fabulous updated home in prime Cypress Park location minutes from the the fast growing thriving areas of Eagle Rock and Glassell Park with all the quaint galleries, shops & restaurants. The recently updated home features a modern open concept floorpan loaded with stylish custom touches throughout. Highlights are the stunning sleek chef's kitchen with huge island and stainless steel appliances, beautifully remodeled master bath, freshly painted interior, and a hip modern newly built private front yard with new redwood fencing, turf grass and stylish planter boxes. The home offers endless opportunities for a live/work/play lifestyle with 3 bedrooms plus office nook and a huge BONUS GUEST UNIT in back with private bathroom ideal for rental income, artist studio, gym or office plus a separate two car garage in addition to a spacious back yard with ample space for parking an extra 6 cars, all behind gates. Additional upgrades include new low-e Milgard windows, new attic insulation, hardwired alarm system with cameras, new garage doors with recently finished walls and an upgraded electrical panel. Easy access to DTLA, Highland Park, the Americana, 134 and 5 Frwys and LA icons including Dodger Stadium, Griffith Park and the famous original King Taco.

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: Cypress Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $153k725k

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

Neighborhood: Cypress Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15903316

* 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
Aragon Avenue Elementary School Primary Regular 373 18 1
Florence Nightingale Middle School Middle Regular 716 41 4
Puc Early College Academy For Leaders And Scholars High Charter 446 20 6

Aragon Avenue Elementary School

  • Education Level: Primary
  • # of students: 373
  • # of teachers: 18
1
GreatSchools Rating

Florence Nightingale Middle School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 41
4
GreatSchools Rating

Puc Early College Academy For Leaders And Scholars

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

$710,100$867,900$789,000

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,740
Property Tax -$820
Property Insurance -$53
Property Management Fees -$147
CASH FLOW
-$770

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.

$789,000

PROJECTED PRICE

$2,990

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 12.2%
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-$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$214,835

INVESTMENT

$214,835

Down Payment
$197,250
Rehab Estimate
$5,750
Closing Costs
$11,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,740

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,250
Loan Amount $591,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,021

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $2.78

    LIST RENT PER SQFT
  • $3,222

    COMP ESTIMATED VALUE
  • $3

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$2,9904$3,5995$3,600
$3,600
RENT COMPS ANALYSIS
  • 2643 Arvia Street Los Angeles, CA 3
    • 3 beds 1 baths ∙ 1,074 Sqft ∙ Built 1915 3 beds 1 baths ∙ 1,074 Sqft ∙ Built 1915
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $2.78
    •  
  • 2639 Rich Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 896 Sqft ∙ Built 1923 3 beds 2 baths ∙ 896 Sqft ∙ Built 1923
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.90
    •  
  • 2409 Cabot Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 935 Sqft ∙ Built 1927 3 beds 2 baths ∙ 935 Sqft ∙ Built 1927
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.83
    •  
  • 2670 Maceo Street Los Angeles, CA 4
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1921 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1921
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,599
    • $3.27
    •  
  • 2250 N Alvarado Street Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1925
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $3.00
    •  
PROPERTY LISTING DETAILS
Lorena Costino
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21703886
Last Updated: 03/19/2021
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