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PROPERTY INFO
FACTS
- Single Family
- Built In 1931
- Price/Sqft : $495.35
- 5 Days on Market
- MLS # : PF20263892
- Updated Date : 12/30/2020 at 18:51
CONSTRUCTION
- Beds : 3
- Floor Size : 1,613 sqft
- Baths : 1 full , 1 half
Listing Agent
Redfin Corporation
Listing Agent's Description
Situated in the highly sought after El Sereno area of Los Angeles is this charming, move-in ready Bungalow with all of today’s modern amenities. As you enter, you are welcomed by a cozy living room with a gas fireplace, original hardwood floors throughout, arched doorways and a formal dining area with a custom built-in booth. The remodeled kitchen has Carrera marble, stainless steel appliances, and under cabinet lights. There’s also a coffee nook/pantry accented with Spanish tile. Three bright and spacious bedrooms, a full hall bathroom and a powder room near the kitchen. There is a lovely finished attic which can be great as an office, makeup room, closet or storage with air/heat. The backyard is an entertainer’s dream with a 560 sq ft deck, gas fire pit, misters and shades. The two-car garage has been converted into an amazing indoor/outdoor haven with a new glass garage door with UV protectors, patterned tile floors, washer/dryer hook-ups, a center island on wheels, sink, mini fridge, ice-maker and a brand new ductless heat/AC unit. Manicured yard with Bermuda grass and many fruit trees all on drip irrigation and sprinklers. There is a shaded and padded turf side yard that is perfect for a play area or Yoga. The whole property is kept private with beautiful 8 ft horizontal wood fencing. Dual pane windows, roof, HVAC with NEST thermostat, electrical panel, water heater, copper plumbing and recessed lighting are recently updated, and the home is powered by leased solar.
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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: El Sereno
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: El Sereno
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,100 |
| EXPENSES | Loan Payment | -$2,948 |
| Property Tax | -$830 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$896
|
||
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.
$799,000
PROJECTED PRICE
$3,100
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 11.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$217,485
LOAN DETAILS
$2,948
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $199,750 |
| Loan Amount | $599,250 |
1.25
YEARS SAVED
$5,276
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,100
LIST RENT -
$1.92
LIST RENT PER SQFT
-
$3,633
COMP ESTIMATED VALUE -
$2.25
COMP AVG. RENT PER SQFT
Comps Range
-
4029 Guardia Avenue Los Angeles, CA 1
- 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1931
- Rent
- Rent Per SQFT
- $3,100
- $1.92
-
830 Bonita Drive South Pasadena, CA 2
- 4 beds 3 baths ∙ 1,399 Sqft ∙ Built 1925 4 beds 3 baths ∙ 1,399 Sqft ∙ Built 1925
LEASED 10/29/20- Rent
- Rent Per SQFT
- $3,300
- $2.36
-
1340 Elm Park Street South Pasadena, CA 3
- 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1950
LEASED 02/05/20- Rent
- Rent Per SQFT
- $3,450
- $2.22
-
1216 Oak Hill Avenue South Pasadena, CA 4
- 4 beds 1 baths ∙ 1,710 Sqft ∙ Built 1948 4 beds 1 baths ∙ 1,710 Sqft ∙ Built 1948
LEASED 03/13/20- Rent
- Rent Per SQFT
- $3,850
- $2.25
-
2021 Marengo Avenue South Pasadena, CA 5
- 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1922
LEASED 09/08/20- Rent
- Rent Per SQFT
- $3,950
- $2.18
PROPERTY LISTING DETAILS
Redfin Corporation
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PF20263892
Last Updated: 12/30/2020
