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4329 2nd Avenue Los Angeles, CA 90008

4 Beds 3 Baths 1,801 sqft Built 1923

$910,000

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1923
  • Price/Sqft : $505.27
  • 9 Days on Market
  • MLS # : SB20247682
  • Updated Date : 12/03/2020 at 12:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,801 sqft
  • Baths : 3 full
Listing Agent

Century 21 Union Realty

Listing Agent's Description

Enjoy this modern farmhouse with guest house! Bright open home with vaulted coffered ceiling, laminate floors and french doors that open up to a beautiful wood sundeck. Dine in elegance with this spacious dining area. Kitchen with newer cabinets, quartz counters, stainless steel appliances and laundry. Master bedroom with en-suite bathroom, double sink, walk in shower and skylight. Hallway with vaulted ceiling and additional skylight adds luminous light. Main bathroom with soaking tub and tile. Fully equipped bonus non permitted detached guesthouse with kitchen and bath. Long driveway to accomodate for parking. Spacious manicured backyard perfect for entertaining. Main house is 3 bedrooms, 2 bathrooms, 1,401 square feet + non permitted guest house is 1 bedroom, 1 bathroom, approximately 400 square feet. Total square feet is 1801 square feet per owner. Close to local shops, restaurants, and schools.

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
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
 

$819,000$1,001,000$910,000

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$3,357
Property Tax -$933
Property Insurance -$70
Property Management Fees -$155
CASH FLOW
-$1,346

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.

$910,000

PROJECTED PRICE

$3,170

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$246,900

INVESTMENT

$246,900

Down Payment
$227,500
Rehab Estimate
$5,750
Closing Costs
$13,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,357

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $227,500
Loan Amount $682,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$434

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,170

    LIST RENT
  • $1.76

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$3,170
1$3,170
$3,170
RENT COMPS ANALYSIS
  • 4329 2nd Avenue Los Angeles, CA
    • 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 1923 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 1923
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,170
    • $1.76
    •  
PROPERTY LISTING DETAILS
Liza Lansita Mcknight
Century 21 Union Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20247682
Last Updated: 12/03/2020
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