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4424 Alumni Avenue Los Angeles, CA 90041

4 Beds 2 Baths 1,508 sqft Built 1921

$780,000

List Price

$4,480

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1921
  • Price/Sqft : $517.24
  • 6 Days on Market
  • MLS # : 320004825
  • Updated Date : 02/03/2021 at 20:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,508 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Hallmark Realt

Listing Agent's Description

Great Home in Eagle Rock. Walking distance to Occidental College and the trendy shops and restaurants along York Blvd. Totally rebuilt in 1992. Bright and lovely home has 4 bedrooms and 2 bathrooms. Remodeled and upgraded. Elegant living and dining room. Master bedroom with bathroom and walk-in closet. Mirrored closet doors in bedrooms. Huge kitchen with granite countertop and wood cabinetry. Newer roof, kitchen, windows and flooring. Central air and heat. Laundry room inside. Just a few minutes drive to Americana in Glendale, Old Town Pasadena and Downtown LA. Convenient and easy access to major freeways.

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: Eagle Rock

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Eagle Rock

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843752

* 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
Washington Irving Middle School Math Music Engineering Mag Middle Regular 632 31 6

Washington Irving Middle School Math Music Engineering Mag

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 31
6
GreatSchools Rating
 

$702,000$858,000$780,000

PURCHASE PRICE

$4,032$4,928$4,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,480
EXPENSES Loan Payment -$2,709
Property Tax -$810
Property Insurance -$63
Property Management Fees -$220
CASH FLOW
$678

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.

$780,000

PROJECTED PRICE

$4,480

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 10.1%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,450

INVESTMENT

$212,450

Down Payment
$195,000
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$2,709

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $195,000
Loan Amount $585,000
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$133,555

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,480

    LIST RENT
  • $2.97

    LIST RENT PER SQFT
  • $4,418

    COMP ESTIMATED VALUE
  • $2.93

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$4,0003$4,3004$4,4005$4,480
$4,480
RENT COMPS ANALYSIS
  • 4424 Alumni Avenue Los Angeles, CA 5
    • 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1921 4 beds 2 baths ∙ 1,508 Sqft ∙ Built 1921
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,480
    • $2.97
    •  
  • 5120 Baltimore Street Highland Park, CA 1
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1922
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.98
    •  
  • 1112 Princeton Drive Glendale, CA 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1923
    property image
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.76
    •  
  • 4110 Verdugo View Drive Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1938
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.99
    •  
  • 4919 Highland View Avenue Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1923
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.99
    •  
PROPERTY LISTING DETAILS
Josefina Songco
Coldwell Banker Hallmark Realt
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320004825
Last Updated: 02/03/2021
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