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3954 2nd Avenue Los Angeles, CA 90008

3 Beds 2 Baths 1,378 sqft Built 1922

$899,000

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1922
  • Price/Sqft : $652.39
  • 5 Days on Market
  • MLS # : BB20249693
  • Updated Date : 12/05/2020 at 12:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,378 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Wmc

Listing Agent's Description

Stunning Leimert Park charming and private single family home. This 3 bedroom 2 bath home features hardwood style floors throughout the living room and kitchen area, newer hardscaping, turf and newer vinyl fencing around the property for ultimate privacy. The detached garage has been converted to a bonus space with a 3/4 bath and kitchenette (without permits). Larger backyard and long driveway for ample parking. Newer central air. Open Concept, spacious main bedroom with walk-in closet. Easy access to shopping, school and parks! Too many upgrades to name here!

SEE MORE

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: 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
 

$809,100$988,900$899,000

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$3,317
Property Tax -$905
Property Insurance -$60
Property Management Fees -$152
CASH FLOW
-$1,325

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.

$899,000

PROJECTED PRICE

$3,110

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-$20k-$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$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $2.26

    LIST RENT PER SQFT
  • $2,983

    COMP ESTIMATED VALUE
  • $2.17

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1103$3,250
$3,250
RENT COMPS ANALYSIS
  • 3954 2nd Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1922
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $2.26
    •  
  • 1846 W 42nd Place Los Angeles, CA 1
    • 3 beds 1 baths ∙ 1,396 Sqft ∙ Built 1922 3 beds 1 baths ∙ 1,396 Sqft ∙ Built 1922
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.15
    •  
  • 3887 Arlington Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1921 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1921
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.18
    •  
PROPERTY LISTING DETAILS
Courtney Hall
Keller Williams Wmc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: BB20249693
Last Updated: 12/05/2020
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