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3626 Chesapeake Avenue Los Angeles, CA 90016

3 Beds 2 Baths 1,372 sqft Built 1944

$819,000

List Price

$3,330

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1944
  • Price/Sqft : $596.94
  • 10 Days on Market
  • MLS # : AR20225642
  • Updated Date : 10/27/2020 at 11:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,372 sqft
  • Baths : 2 full
Listing Agent

Vastree Real Estate

Listing Agent's Description

Welcome to this single-story charmer in Crenshaw Manor, conveniently located a block and a half from the Metro E Line, running between DTLA and Santa Monica. Also the Crenshaw/Exposition stop that is slated for 2021 has a light rail to LAX! This great home features 3 bedrooms and 2 baths in 1372 square feet, with beautiful engineered hardwood floors and a nicely updated kitchen accented with a farmhouse sink. The master bedroom boasts an en-suite bathroom but it’s well suited for use as a great room, as well. The home has plenty of parking with its circular front and side driveways, leading to the two-car detached garage in the back of the home. The expansive backyard has not only a patio for entertaining but room behind the garage for raised planter boxes or the perfect corn-hole court during those fun family gatherings. Since the property already has enough space for parking the cars, why not expand your vision and transform the garage into an awesome mancave or, if permitted, an ADU for guests or possibly an extra income! Buyer to do their own investigations. Come check out this home and make it yours today!

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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: Crenshaw

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $153k857k

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

Neighborhood: Crenshaw

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183381

* 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
Coliseum Street Elementary School Primary Regular 262 13 1
Audubon Middle School Middle Regular 660 39 1
Susan Miller Dorsey Senior High School High Regular 1,134 59 2

Coliseum Street Elementary School

  • Education Level: Primary
  • # of students: 262
  • # of teachers: 13
1
GreatSchools Rating

Audubon Middle School

  • Education Level: Middle
  • # of students: 660
  • # of teachers: 39
1
GreatSchools Rating

Susan Miller Dorsey Senior High School

  • Education Level: High
  • # of students: 1,134
  • # of teachers: 59
2
GreatSchools Rating
 

$737,100$900,900$819,000

PURCHASE PRICE

$2,997$3,663$3,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,330
EXPENSES Loan Payment -$3,022
Property Tax -$825
Property Insurance -$60
Property Management Fees -$163
CASH FLOW
-$740

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.

$819,000

PROJECTED PRICE

$3,330

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.8%
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$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$222,785

INVESTMENT

$222,785

Down Payment
$204,750
Rehab Estimate
$5,750
Closing Costs
$12,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,022

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $204,750
Loan Amount $614,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$12,892

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,330

    LIST RENT
  • $2.43

    LIST RENT PER SQFT
  • $3,433

    COMP ESTIMATED VALUE
  • $2.5

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,3304$3,9505$4,050
$4,050
RENT COMPS ANALYSIS
  • 3626 Chesapeake Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1944
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,330
    • $2.43
    •  
  • 3825 Grayburn Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1941
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.67
    •  
  • 3764 Buckingham Road Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1948
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.23
    •  
  • 3630 Wellington Road Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 1939
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.34
    •  
  • 4215 W 29th Street Los Angeles, CA 5
    • 4 beds 3 baths ∙ 1,460 Sqft ∙ Built 1926 4 beds 3 baths ∙ 1,460 Sqft ∙ Built 1926
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $2.77
    •  
PROPERTY LISTING DETAILS
Judith Nish
Vastree Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR20225642
Last Updated: 10/27/2020
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