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3903 W 64th Street Los Angeles, CA 90043

3 Beds 1 Baths 1,069 sqft Built 1925

$669,500

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1925
  • Price/Sqft : $626.29
  • 3 Days on Market
  • MLS # : 21687192
  • Updated Date : 01/29/2021 at 20:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,069 sqft
  • Baths : 1 full
Listing Agent

Pacific Playa Realty

Listing Agent's Description

Cozy 1920's Spanish Style home located in the highly desirable Park Mesa Heights community of Los Angeles. The residence features 3 bedrooms and 1 bathroom with a beautifully upgraded kitchen and tile flooring. The garage has been rebuilt with a steam room/shower and its own dedicated electrical panel. Centrally located and situated on the border of Inglewood and Los Angeles, this home is minutes from Downtown Los Angeles, USC, the Crenshaw/LAX Metro Line, the Forum, SoFi Stadium, Hollywood Park Entertainment District, and future Los Angeles Clippers Inglewood Basketball and Entertainment Center.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

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
Horace Mann Middle School Middle Regular 425 19 NA
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

Horace Mann Middle School

  • Education Level: Middle
  • # of students: 425
  • # of teachers: 19
NA
GreatSchools Rating

Crenshaw Magnets- Science Tech Engineer Math And Medicine

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

$602,550$736,450$669,500

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$2,325
Property Tax -$705
Property Insurance -$53
Property Management Fees -$118
CASH FLOW
-$791

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.

$669,500

PROJECTED PRICE

$2,410

PROJECTED RENT

0.36%

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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,168

INVESTMENT

$183,168

Down Payment
$167,375
Rehab Estimate
$5,750
Closing Costs
$10,043

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,325

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,375
Loan Amount $502,125
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,566

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $2.25

    LIST RENT PER SQFT
  • $2,389

    COMP ESTIMATED VALUE
  • $2.24

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4103$2,700
$2,700
RENT COMPS ANALYSIS
  • 3903 W 64th Street Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,069 Sqft ∙ Built 1925 3 beds 1 baths ∙ 1,069 Sqft ∙ Built 1925
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $2.25
    •  
  • 125 W Hillcrest Boulevard Inglewood, CA 1
    • 3 beds 2 baths ∙ 1,057 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,057 Sqft ∙ Built 1923
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.18
    •  
  • 433 W Manchester Boulevard Inglewood, CA 3
    • 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1939
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.29
    •  
PROPERTY LISTING DETAILS
William Holmes
Pacific Playa Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21687192
Last Updated: 01/29/2021
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