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3862 Degnan Boulevard Los Angeles, CA 90008

3 Beds 3 Baths 1,850 sqft Built 1940

$1,098,888

List Price

$3,930

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $593.99
  • 4 Days on Market
  • MLS # : PF21009633
  • Updated Date : 01/21/2021 at 10:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,850 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Welcome to your new and recently remodeled home in the desirable Leimert Park area. The 2015 remodel included new roof, windows, new flooring, custom kitchen cabinets, tile kitchen floor, quartz counter tops, a spa bathroom and landscaping to name a few. Since then, the new owners have upgraded both bathrooms, with new tile walls and floors and have also added major electrical improvements, solar panels, a masonry perimeter wall, new driveway pavers, an entire HVAC system, professionally installed synthetic grass, an above ground pool, and new paint inside and out. If that is not enough, there are fully approved plans for you to convert the existing garage to an ADU. This three bedroom and two bath home includes a main suite with bath and French doors to the back yard. It is conveniently located near the Expo line, approximately 2.5 miles from USC, the Natural History Museum of L.A, Rams stadium, and all the trendy eateries that this area has to offer.

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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: Leimert Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $153k765k

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

Neighborhood: Leimert 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
Thomas Bradley Global Awareness Magnet School Primary Alternative 370 18 2
Audubon Middle School Middle Regular 660 39 1
Susan Miller Dorsey Senior High School High Regular 1,134 59 2

Thomas Bradley Global Awareness Magnet School

  • Education Level: Primary
  • # of students: 370
  • # of teachers: 18
2
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
 

$988,999$1,208,777$1,098,888

PURCHASE PRICE

$3,537$4,323$3,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,930
EXPENSES Loan Payment -$3,817
Property Tax -$1,107
Property Insurance -$71
Property Management Fees -$193
CASH FLOW
-$1,257

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.

$1,098,888

PROJECTED PRICE

$3,930

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 13.6%
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$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$3.5M$4.0M$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$296,955

INVESTMENT

$296,955

Down Payment
$274,722
Rehab Estimate
$5,750
Closing Costs
$16,483

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,817

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $274,722
Loan Amount $824,166
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$3,717

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,930

    LIST RENT
  • $2.12

    LIST RENT PER SQFT
  • $3,441

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5003$3,930
$3,930
RENT COMPS ANALYSIS
  • 3862 Degnan Boulevard Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1940 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $3,930
    • $2.12
    •  
  • 3917 Wellington Road Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1942
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.98
    •  
  • 4247 9th Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 1928 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 1928
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.74
    •  
PROPERTY LISTING DETAILS
Robert Giambalvo
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PF21009633
Last Updated: 01/21/2021
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