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4312 9th Avenue Los Angeles, CA 90008

3 Beds 2 Baths 1,721 sqft Built 1928

$1,000,000

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1928
  • Price/Sqft : $581.06
  • 2 Days on Market
  • MLS # : SB21019821
  • Updated Date : 01/30/2021 at 15:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,721 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Rare find! You will be appreciative of all the upgrades to this special property, you will call home. From a cozy fireplace, spacious living room with hardwood floors, dining room for formal and casual eating. Updated heating and central air, ceiling fans. The kitchen will make the holiday meals memorable. Granite counters, double oven, stainless steel appliances, refrigerator with ice maker, laundry area, lots of storage too. (Side door access to the backyard). The Master suite is comprised of the entire second floor. Spacious master with en-suite bathroom. The Master bath has dual sinks, his & hers. A designer custom closet you will love. The back bedroom can be used as an office, workout area, den, family room, the sky is the limit. Second access to getaway in your new backyard. Backyard ready for entertaining, features a peaceful flowing pond, firepits, television, seating area, lighting, citrus tree, garden, privacy gate. Two car detached garage. Family-friendly neighborhood. A must see! This lovely gem will not last long. Bring your offers!

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
42nd Street Elementary School Primary Regular 251 13 1
Audubon Middle School Middle Regular 660 39 1
Crenshaw Magnets- Science Tech Engineer Math And Medicine High Magnet 981 54 2

42nd Street Elementary School

  • Education Level: Primary
  • # of students: 251
  • # of teachers: 13
1
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
 

$900,000$1,100,000$1,000,000

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$3,473
Property Tax -$1,025
Property Insurance -$68
Property Management Fees -$161
CASH FLOW
-$1,448

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.

$1,000,000

PROJECTED PRICE

$3,280

PROJECTED RENT

0.33%

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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,750

INVESTMENT

$270,750

Down Payment
$250,000
Rehab Estimate
$5,750
Closing Costs
$15,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $250,000
Loan Amount $750,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$192

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $3,360

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2803$3,4954$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 4312 9th Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1928
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $1.91
    •  
  • 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
    •  
  • 3666 2nd Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 1913 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 1913
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.94
    •  
  • 3917 Wellington Road Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1942
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.98
    •  
  • 4247 9th Avenue Los Angeles, CA 5
    • 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 1928 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 1928
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.74
    •  
PROPERTY LISTING DETAILS
Chantay Clark-bridges
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21019821
Last Updated: 01/30/2021
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