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3981 Beethoven Street Los Angeles, CA 90066

3 Beds 2 Baths 1,789 sqft Built 1947

$1,498,000

List Price

$4,950

$4.7K - $5.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $837.34
  • 73 Days on Market
  • MLS # : P1-2079
  • Updated Date : 01/07/2021 at 13:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,789 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This renovated home in a fabulous Mar Vista neighborhood features the modern, open floor plan so desired by today's buyer. Entering the home through the front door, one is immediately struck by the glistening hardwood floors. These solid riftsawn oak floors sparkle in much of the home. A bay window w/ a bench seat below allows natural light to fill the front of the home. The remodeled kitchen showcases white countertops, modern cabinets, stainless steel appliances, & a gas stove & hood. The 2 bedrooms at the front of the house feature ample closet space, natural light through the windows & have access to the hallway bathroom. This front bathroom has a separate tub & stall shower. The primary suite at the back of the home is a wonderful retreat. Passing from the sitting area into the bedroom suite, one is impressed by the vaulted ceiling w/ an exposed wood beam, the recessed lighting, the newer ceiling fan, a marble tile floor, & a gas fireplace. The attached bathroom has a tiled, walk-in shower. This bedroom suite also has its own door to the side & back yard. There is great curb appeal as this professionally landscaped home features a beautiful driveway w/ pavers, a privacy fence and grassy areas in the front and back yard w/ automatic sprinklers. Don't miss out on the opportunity to own in this charming Mar Vista neighborhood so accessible to the beach, the shops, the restaurants and more.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mar Vista

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $199k1403k

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

Neighborhood: Mar Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500Rent in $17844939

* 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
Beethoven Street Elementary School Primary Regular 330 14 5
Mark Twain Middle School Middle Regular 635 33 4
Venice Senior High School High Regular 2,109 95 7

Beethoven Street Elementary School

  • Education Level: Primary
  • # of students: 330
  • # of teachers: 14
5
GreatSchools Rating

Mark Twain Middle School

  • Education Level: Middle
  • # of students: 635
  • # of teachers: 33
4
GreatSchools Rating

Venice Senior High School

  • Education Level: High
  • # of students: 2,109
  • # of teachers: 95
7
GreatSchools Rating
 

$1,348,200$1,647,800$1,498,000

PURCHASE PRICE

$4,455$5,445$4,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,950
EXPENSES Loan Payment -$5,203
Property Tax -$1,509
Property Insurance -$70
Property Management Fees -$243
CASH FLOW
-$2,074

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.

$1,498,000

PROJECTED PRICE

$4,950

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 12.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

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$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$402,720

INVESTMENT

$402,720

Down Payment
$374,500
Rehab Estimate
$5,750
Closing Costs
$22,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,203

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $374,500
Loan Amount $1,123,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$596

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,950

    LIST RENT
  • $2.77

    LIST RENT PER SQFT
  • $5,063

    COMP ESTIMATED VALUE
  • $2.83

    COMP AVG. RENT PER SQFT
Comps Range
$4,400
1$4,4002$4,7003$4,8004$4,9505$4,950
$4,950
RENT COMPS ANALYSIS
  • 3981 Beethoven Street Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1947
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $2.77
    •  
  • 4068 Michael Avenue Marina Del Rey, CA 1
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1947
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.88
    •  
  • 4707 La Villa Marina Marina Del Rey, CA 2
    • 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1966
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $2.43
    •  
  • 12941 Ferndale Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1927
    property image
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.00
    •  
  • 12484 Rubens Avenue Los Angeles, CA 4
    • 4 beds 3 baths ∙ 1,642 Sqft ∙ Built 1952 4 beds 3 baths ∙ 1,642 Sqft ∙ Built 1952
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $3.01
    •  
PROPERTY LISTING DETAILS
Jason Berns
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2079
Last Updated: 01/07/2021
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