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3658 2nd Avenue Los Angeles, CA 90018

3 Beds 1 Baths 1,344 sqft Built 1912

$840,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1912
  • Price/Sqft : $625.00
  • 7 Days on Market
  • MLS # : 21675316
  • Updated Date : 01/08/2021 at 09:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 1 full
Listing Agent

Patrick Barnes

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: Jefferson Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $153k725k

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

Neighborhood: Jefferson Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183316

* 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
6th Avenue Elementary School Primary Regular 654 26 1
Audubon Middle School Middle Regular 660 39 1
Susan Miller Dorsey Senior High School High Regular 1,134 59 2

6th Avenue Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 26
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
 

$756,000$924,000$840,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,918
Property Tax -$846
Property Insurance -$59
Property Management Fees -$157
CASH FLOW
-$780

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.

$840,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 14.2%
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$3.5M

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$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$228,350

INVESTMENT

$228,350

Down Payment
$210,000
Rehab Estimate
$5,750
Closing Costs
$12,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,918

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $210,000
Loan Amount $630,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,941

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $2.38

    LIST RENT PER SQFT
  • $3,230

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2003$3,2504$3,300
$3,300
RENT COMPS ANALYSIS
  • 3658 2nd Avenue Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,344 Sqft ∙ Built 1912 3 beds 1 baths ∙ 1,344 Sqft ∙ Built 1912
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.38
    •  
  • 1846 W 42nd Place Los Angeles, CA 1
    • 3 beds 1 baths ∙ 1,396 Sqft ∙ Built 1922 3 beds 1 baths ∙ 1,396 Sqft ∙ Built 1922
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.15
    •  
  • 3887 Arlington Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1921 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1921
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.18
    •  
  • 3414 5th Avenue Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1922
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.88
    •  
PROPERTY LISTING DETAILS
Angela Dowell
Patrick Barnes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21675316
Last Updated: 01/08/2021
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