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3907 Welland Avenue Los Angeles, CA 90008

3 Beds 2 Baths 1,748 sqft Built 1936

$942,000

List Price

$3,320

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1936
  • Price/Sqft : $538.90
  • 3 Days on Market
  • MLS # : 20656200
  • Updated Date : 11/06/2020 at 16:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,748 sqft
  • Baths : 2 full
Listing Agent

The Real Estate Group

Listing Agent's Description

Wonderful Home in Leimert Park! Centrally located to parks, shopping, Downtown and future Metro Line for easy access to the greater Los Angeles area. This spacious 3 Bedroom - 2 Bath home has a bright formal living room with fireplace. Formal dining room, good size kitchen, seperate breakfast room & laundry room. Master bedroom with attached full bath contains seperate tub & shower. Backyard with open patio area, water fountain and detached 2 car garage. Great opportunity for addition of ADU!

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: 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
Crenshaw Magnets- Science Tech Engineer Math And Medicine High Magnet 981 54 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

Crenshaw Magnets- Science Tech Engineer Math And Medicine

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

$847,800$1,036,200$942,000

PURCHASE PRICE

$2,988$3,652$3,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,320
EXPENSES Loan Payment -$3,476
Property Tax -$949
Property Insurance -$69
Property Management Fees -$163
CASH FLOW
-$1,336

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.

$942,000

PROJECTED PRICE

$3,320

PROJECTED RENT

0.35%

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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$255,380

INVESTMENT

$255,380

Down Payment
$235,500
Rehab Estimate
$5,750
Closing Costs
$14,130

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $235,500
Loan Amount $706,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,320

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$3,320
1$3,320
$3,320
RENT COMPS ANALYSIS
  • 3907 Welland Avenue Los Angeles, CA
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1936 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1936
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,320
    • $1.90
    •  
PROPERTY LISTING DETAILS
Roland Harris
The Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20656200
Last Updated: 11/06/2020
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