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3906 Tracy Street Los Angeles, CA 90027

3 Beds 2 Baths 1,947 sqft Built 1984

INVESTimate

$1,250,000

List Price

$4,490

$4,240 - $4,740

Rent Est.

$1,338,000  ( +7.04%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $642.01
  • 2 Days on Market
  • MLS # : 20623698
  • Updated Date : 08/25/2020 at 21:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,947 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Downtown La

Listing Agent's Description

Calling all investors. Good deal for a fixer opportunity in red hot Los Feliz. Close to shops and Restaurants.

SEE MORE

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: Los Feliz

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $199k1378k

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

Neighborhood: Los Feliz

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q220002500300035004000450050005500Rent in $17845836

* 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
Franklin Avenue Elementary School Primary Regular 524 20 8
Thomas Starr King Middle School Magnet- Film And Media Middle Regular 1,811 72 7
John Marshall Senior High High Regular 2,463 91 8

Franklin Avenue Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 20
8
GreatSchools Rating

Thomas Starr King Middle School Magnet- Film And Media

  • Education Level: Middle
  • # of students: 1,811
  • # of teachers: 72
7
GreatSchools Rating

John Marshall Senior High

  • Education Level: High
  • # of students: 2,463
  • # of teachers: 91
8
GreatSchools Rating
 

$1,125,000$1,375,000$1,250,000

PURCHASE PRICE

$4,041$4,939$4,490

RENT

DOWN PAYMENT
FINANCING

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-$30k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,490
EXPENSES Loan Payment -$4,612
Property Tax -$1,271
Property Insurance -$74
Property Management Fees -$220
CASH FLOW
-$1,687

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$1,250,000

PROJECTED PRICE

$4,490

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.04%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$337,000

INVESTMENT

$337,000

Down Payment
$312,500
Rehab Estimate
$5,750
Closing Costs
$18,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,612

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $312,500
Loan Amount $937,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,797

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 3906 Tracy Street Los Angeles,
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
Michael Maloney
Keller Williams Downtown La
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20623698
Last Updated: 08/25/2020
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