Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3625 Seneca Avenue Los Angeles, CA 90039

3 Beds 2 Baths 1,425 sqft Built 1924

$999,000

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1924
  • Price/Sqft : $701.05
  • 4 Days on Market
  • MLS # : 21703268
  • Updated Date : 03/11/2021 at 10:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,425 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Meticulously updated 1924 Spanish bungalow in the heart of Atwater Village. With a spacious and open floor plan, this light and bright home makes great use of the extra large lot. The inviting main living space features an open kitchen, dining and living area featuring custom built-ins, updated appliances and modern finishes. The primary bedroom includes an en-suite bathroom which has been beautifully updated with stand-alone tub. Two additional bedrooms, a full bathroom, and laundry room complete the layout. A gated driveway leads to a detached garage perfect as additional work or creative space. The garden is the heart of this home with a sprawling covered patio & an abundance of mature native plants and fruit trees. Custom-designed planters provide shade and further privacy along with mobile vegetable and flower garden. Close to all the best dining and shopping including Thank You For Coming, All'Acqua, Individual Medley, the Farmers Market and more. This bungalow is a special find.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Central Atwater

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k917k

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

Neighborhood: Central Atwater

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $14683718

* 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
Washington Irving Middle School Math Music Engineering Mag Middle Regular 632 31 6
John Marshall Senior High High Regular 2,463 91 8

Washington Irving Middle School Math Music Engineering Mag

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

John Marshall Senior High

  • Education Level: High
  • # of students: 2,463
  • # of teachers: 91
8
GreatSchools Rating
 

$899,100$1,098,900$999,000

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$3,470
Property Tax -$1,016
Property Insurance -$61
Property Management Fees -$192
CASH FLOW
-$828

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.

$999,000

PROJECTED PRICE

$3,910

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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-$10k$0.0$10k$20k

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$270,485

INVESTMENT

$270,485

Down Payment
$249,750
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,470

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$13,685

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,910

    LIST RENT
  • $2.74

    LIST RENT PER SQFT
  • $3,905

    COMP ESTIMATED VALUE
  • $2.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4003$3,8004$3,9105$4,500
$4,500
RENT COMPS ANALYSIS
  • 3625 Seneca Avenue Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1924
    • Rent
    • Rent Per SQFT
    •  
    • $3,910
    • $2.74
    •  
  • 3109 W Estara Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1923
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.62
    •  
  • 3152 Casitas Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1938
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.72
    •  
  • 311 Roads End Street Glendale, CA 3
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1922
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.68
    •  
  • 3964 Brunswick Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1922
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.94
    •  
PROPERTY LISTING DETAILS
Robert Kallick
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21703268
Last Updated: 03/11/2021
BESbswy