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3721 W 58th Place Park Hills Heights, CA 90043

4 Beds 3 Baths 2,043 sqft Built 1924

$899,900

List Price

$3,690

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1924
  • Price/Sqft : $440.48
  • 8 Days on Market
  • MLS # : SB20260706
  • Updated Date : 12/24/2020 at 20:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,043 sqft
  • Baths : 3 full
Listing Agent

Kingway Properties

Listing Agent's Description

This beautiful home is in a prime location of Los Angeles, needs TLC, (upgrades). This lovely two story, 2,043 square foot living space, (4) Bedrooms, (3) Bathrooms house has a Big Front Porch, Large Floor plan with Hardwood Flooring, a Large Living Room with Fireplace, Formal Dining Room, a Breakfast Nook in the Large Kitchen, plus a laundry room towards the rear of the home. (2) Bedrooms and (1) bathroom downstair. (2) Bedrooms and (1) Bathroom upstairs. Spacious Backyard with Patio Area and Outdoor Fireplace great for Summer BBQ! Long driveway for multiple cars, and detached (2) Car Garage with a Bonus Room, ADU potential and a Detached 3rd Bathroom in backyard! Centrally located and within minutes to Beach Cities, Culver City Shopping Mall, 90 FWY and 405 FWY, Rams/Chargers Stadium, LAX, and much more. Property is being sold "AS IS" and is a Must See!

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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: Hyde Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $153k725k

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

Neighborhood: Hyde 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
54th Street Elementary School Primary Regular 290 13 2
Audubon Middle School Middle Regular 660 39 1
Crenshaw Magnets- Science Tech Engineer Math And Medicine High Magnet 981 54 2

54th Street Elementary School

  • Education Level: Primary
  • # of students: 290
  • # of teachers: 13
2
GreatSchools Rating

Audubon Middle School

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

Crenshaw Magnets- Science Tech Engineer Math And Medicine

  • Education Level: High
  • # of students: 981
  • # of teachers: 54
2
GreatSchools Rating
 

$809,910$989,890$899,900

PURCHASE PRICE

$3,321$4,059$3,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,690
EXPENSES Loan Payment -$3,320
Property Tax -$952
Property Insurance -$76
Property Management Fees -$181
CASH FLOW
-$839

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.

$899,900

PROJECTED PRICE

$3,690

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 12.4%
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$25k

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$244,224

INVESTMENT

$244,224

Down Payment
$224,975
Rehab Estimate
$5,750
Closing Costs
$13,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,320

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,975
Loan Amount $674,925
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$12,765

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,690

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $3,637

    COMP ESTIMATED VALUE
  • $1.78

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,5003$3,690
$3,690
RENT COMPS ANALYSIS
  • 3721 W 58th Place Park Hills Heights, CA 3
    • 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1924 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1924
    • Rent
    • Rent Per SQFT
    •  
    • $3,690
    • $1.81
    •  
  • 4037 W 63rd Street Los Angeles, CA 1
    • 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1921 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1921
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.55
    •  
  • 8225 West Boulevard Inglewood, CA 2
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1940
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.01
    •  
PROPERTY LISTING DETAILS
Quentin Elmore
Kingway Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20260706
Last Updated: 12/24/2020
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