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PROPERTY INFO
FACTS
- Single Family
- Built In 1922
- Price/Sqft : $375.75
- 2 Days on Market
- MLS # : DW21035751
- Updated Date : 02/20/2021 at 14:38
CONSTRUCTION
- Beds : 4
- Floor Size : 1,996 sqft
- Baths : 3 full
Listing Agent
First Family Homes
Listing Agent's Description
****Take a look at this single family property but can be use as an income property**** Property features 4 bedrooms and 3 bathrooms in addition there is a studio/laundry. Property can be used as income front house could be 2 bed 1 bath middle unit can be use as 2 bed 1 bath and back unit as studio and 1 bath. All units have own entrance, also property can be use as a 4 bed 2 bath unit and studio unit on back your choice. Do not miss on this opportunity. All additions are permitted but buyer to do their own investigation. There is 3 parking spaces. Property in good condition owner has owned property for 25 years. Don't look any further you will fall in love with this property.
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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)
- 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]
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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: Boyle Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Boyle Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,580 |
| EXPENSES | Loan Payment | -$2,605 |
| Property Tax | -$779 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$175 | |
|
CASH FLOW
-$55
|
||
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.
$749,999
PROJECTED PRICE
$3,580
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 11.2% |
| 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
$204,500
LOAN DETAILS
$2,605
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $187,500 |
| Loan Amount | $562,499 |
6.17
YEARS SAVED
$53,888
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,580
LIST RENT -
$1.79
LIST RENT PER SQFT
-
$3,253
COMP ESTIMATED VALUE -
$1.63
COMP AVG. RENT PER SQFT
Comps Range
-
427 N Concord Street Los Angeles, CA 2
- 4 beds 3 baths ∙ 1,996 Sqft ∙ Built 1922 4 beds 3 baths ∙ 1,996 Sqft ∙ Built 1922
![property image]()
- Rent
- Rent Per SQFT
- $3,580
- $1.79
-
1915 Ronda Drive Los Angeles, CA 1
- 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1941
![property image]()
LEASED 07/01/20- Rent
- Rent Per SQFT
- $3,250
- $1.63
PROPERTY LISTING DETAILS
First Family Homes
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: DW21035751
Last Updated: 02/20/2021
