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3612 Dwiggins Street Los Angeles, CA 90063

3 Beds 1 Baths 1,090 sqft Built 1960

$669,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $613.76
  • 3 Days on Market
  • MLS # : V1-2537
  • Updated Date : 11/13/2020 at 13:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,090 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Amazing views of the city and the Hollywood sign await you from this remodeled home nestled in the desirable hills of City Terrace. This hillside view property is fully remodeled and will WOW you with abundant natural light, an open floorplan, three bedrooms, private gated front courtyard, indoor laundry and an attached two-car garage. Close to Downtown LA, Cal State Los Angeles, shopping, and several freeways to explore everything LA has to offer. This is an opportunity you don't want to miss!

SEE MORE

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: East Los Angeles

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $139k725k

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

Neighborhood: East Los Angeles

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14773316

* 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
Harrison Street Elementary School Primary Regular 516 21 2
Belvedere Middle School Middle Regular 1,344 61 4
Hilda L Solis Learning Academy High Unknown 291 12 NA

Harrison Street Elementary School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 21
2
GreatSchools Rating

Belvedere Middle School

  • Education Level: Middle
  • # of students: 1,344
  • # of teachers: 61
4
GreatSchools Rating

Hilda L Solis Learning Academy

  • Education Level: High
  • # of students: 291
  • # of teachers: 12
NA
GreatSchools Rating
 

$602,100$735,900$669,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$2,468
Property Tax -$775
Property Insurance -$53
Property Management Fees -$131
CASH FLOW
-$757

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.

$669,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 10.9%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,035

INVESTMENT

$183,035

Down Payment
$167,250
Rehab Estimate
$5,750
Closing Costs
$10,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,468

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $167,250
Loan Amount $501,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $2.45

    LIST RENT PER SQFT
  • $2,845

    COMP ESTIMATED VALUE
  • $2.61

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6703$2,9504$3,2995$3,700
$3,700
RENT COMPS ANALYSIS
  • 3612 Dwiggins Street Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,090 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,090 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $2.45
    •  
  • 3924 Dwiggins Street Los Angeles, CA 1
    • 3 beds 1 baths ∙ 925 Sqft ∙ Built 1963 3 beds 1 baths ∙ 925 Sqft ∙ Built 1963
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.70
    •  
  • 728 N Fickett Street Los Angeles, CA 3
    • 3 beds 1 baths ∙ 1,126 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,126 Sqft ∙ Built 1949
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.62
    •  
  • 2021 Vineburn Avenue Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1941
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,299
    • $2.36
    •  
  • 3304 Danzig Place Alhambra, CA 5
    • 3 beds 1 baths ∙ 1,339 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,339 Sqft ∙ Built 1953
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.76
    •  
PROPERTY LISTING DETAILS
Dolores Park
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: V1-2537
Last Updated: 11/13/2020
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