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3748 Wellington Road Los Angeles, CA 90016

3 Beds 2 Baths 2,231 sqft Built 1940

$999,000

List Price

$4,570

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $447.78
  • 3 Days on Market
  • MLS # : SR20260001
  • Updated Date : 12/19/2020 at 09:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,231 sqft
  • Baths : 2 full
Listing Agent

Bogun Realty And Luxury Homes

Listing Agent's Description

OFFER DEADLINE IS TUESDAY 12-22-20 at 5PM. First time on market in 62 years! Crenshaw Manor’s Best Value, beautifully renovated, 3 Bedroom, 2 Bathroom home on picture-perfect tree lined street. This elegant 2231sf home on 6239sf lot is situated in the most coveted upscale historic Crenshaw Manor neighborhood and just few blocks from 2 transit lines, few minutes from LAX, beaches, museums, Marina Del Rey, Culver City, Westside prestigious shopping, the Grove, and yummy restaurants. Elegant, bright, airy living room with stone-faced fireplace and bay window. Expansive dining-great room with gleaming hardwood floors and recessed ceiling lights. Gorgeously modernized luminous kitchen with quartz countertops and subway tile backsplash and fitted with all new stainless-steel appliances. Sprawling family room perfect for joyful gatherings and celebrations. 2 large bedrooms are downstairs and an expansive master en-suite upstairs with multiple spacious closets and large picture windows. Both bathrooms are exquisitely updated. Amenities include laundry in kitchen closet and central air-conditioning and heating. A rumpus-game room is attached to the 2-car garage. Beautifully landscaped private fenced and gated backyard is perfect for relaxation, joyful family gatherings and making beautiful memories. The hunt is over - welcome home!

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MARKET HIGHLIGHTS

  • 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]
  • 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)

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
 

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

PURCHASE PRICE

$4,113$5,027$4,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,570
EXPENSES Loan Payment -$3,686
Property Tax -$1,006
Property Insurance -$81
Property Management Fees -$224
CASH FLOW
-$426

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.

$999,000

PROJECTED PRICE

$4,570

PROJECTED RENT

0.46%

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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k$40k

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$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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$3,686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$51,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,570

    LIST RENT
  • $2.05

    LIST RENT PER SQFT
  • $4,931

    COMP ESTIMATED VALUE
  • $2.21

    COMP AVG. RENT PER SQFT
Comps Range
$4,495
1$4,4952$4,570
$4,570
RENT COMPS ANALYSIS
  • 3748 Wellington Road Los Angeles, CA 2
    • 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 1940 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $4,570
    • $2.05
    •  
  • 4253 Don Jose Drive Los Angeles, CA 1
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1959 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1959
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $2.21
    •  
PROPERTY LISTING DETAILS
Bandele Oguntomilade
Bogun Realty And Luxury Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20260001
Last Updated: 12/19/2020
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