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2807 E 6th Street Los Angeles, CA 90023

4 Beds 1 Baths 1,579 sqft Built 1929

$680,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1929
  • Price/Sqft : $430.65
  • 5 Days on Market
  • MLS # : DW21013156
  • Updated Date : 01/20/2021 at 17:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,579 sqft
  • Baths : 1 full
Listing Agent

Century 21 Allstars

Listing Agent's Description

Beautiful 4 bedroom house on a huge lot with views of downtown LA and the San Gabriel mountain range. This home boasts 1579 sqft of living space which includes: A large living room, formal dining room, good sized kitchen with a breakfast area, large bedrooms with ample closet space. 1 full bathroom and a laundry room indoors. All electrical has been updated, copper plumbing throughout. If you stroll down the long driveway you'll find the oversized 2 car garage. ****INVESTOR/DEVELOPER FRIENDLY LOT: 2833 E. 6th St A FEW DOORS EAST, 4 HOMES ARE BEING BUILT ON PROPERTY. YOU CAN BUILD UP TO 5 HERE**** For Virtual Experience Copy and Paste Link: https://my.matterport.com/show/?m=H28dMFBcmfG&mls=1

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MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Boyle Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $139k725k

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

Neighborhood: Boyle Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14623316

* 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
Euclid Avenue Elementary School Primary Regular 818 35 4
Hollenbeck Middle School Middle Regular 1,176 58 6
Felicitas And Gonzalo Mendez High School High Regular 792 37 3

Euclid Avenue Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 35
4
GreatSchools Rating

Hollenbeck Middle School

  • Education Level: Middle
  • # of students: 1,176
  • # of teachers: 58
6
GreatSchools Rating

Felicitas And Gonzalo Mendez High School

  • Education Level: High
  • # of students: 792
  • # of teachers: 37
3
GreatSchools Rating
 

$612,000$748,000$680,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$2,362
Property Tax -$706
Property Insurance -$65
Property Management Fees -$162
CASH FLOW
$5

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.

$680,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$185,950

INVESTMENT

$185,950

Down Payment
$170,000
Rehab Estimate
$5,750
Closing Costs
$10,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,362

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $170,000
Loan Amount $510,000
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$54,434

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $2.09

    LIST RENT PER SQFT
  • $3,608

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$3,2003$3,300
$3,300
RENT COMPS ANALYSIS
  • 2807 E 6th Street Los Angeles, CA 3
    • 4 beds 1 baths ∙ 1,579 Sqft ∙ Built 1929 4 beds 1 baths ∙ 1,579 Sqft ∙ Built 1929
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.09
    •  
  • 2510 Boulder Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1910 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1910
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $2.07
    •  
  • 3300 Pomeroy Street City Terrace, CA 2
    • 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
    •  
PROPERTY LISTING DETAILS
Mario Zavala
Century 21 Allstars
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21013156
Last Updated: 01/20/2021
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