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4432 Van Horne Avenue Los Angeles, CA 90032

3 Beds 2 Baths 1,419 sqft Built 1924

$735,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1924
  • Price/Sqft : $517.97
  • 3 Days on Market
  • MLS # : 20656428
  • Updated Date : 11/06/2020 at 12:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,419 sqft
  • Baths : 2 full
Listing Agent

Sotheby's International Realty

Listing Agent's Description

Relax in the yard and listen to the birds on this quiet cul de sac street with a pocket park 4 houses up leading to the wide, leafy streets of South Pasadena--great for an after-work stroll. Fresh landscaping, with a mini orchard of apple, fig, and lemon trees, and a window box of herbs & berries next to a cozy breakfast nook where you can snuggle up with a cup of tea. Hi-end appliances, butcher block counters, and new cabinets complement the Moroccan tile backsplash. There are 3 bedrooms and 2 full baths, including a large en suite Master with double sinks. Central heat & air, new Samsung washer & dryer. The finished garage is a private, lockable space that opens thru French doors to the serene backyard that will become your sanctuary, keeping work and homeschool separate. Perfect pandemic pod house that will transition nicely once it's time to entertain again! Minutes from South Pas, DTLA, NELA, and right in the heart of the newest annex to the vibrant Eastside scene.

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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

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $151k725k

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

Neighborhood: El Sereno

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16373316

* 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
El Sereno Elementary School Primary Regular 432 18 6
El Sereno Elementary School Middle Regular 432 18 6
Abraham Lincoln Senior High School High Regular 1,219 54 5

El Sereno Elementary School

  • Education Level: Primary
  • # of students: 432
  • # of teachers: 18
6
GreatSchools Rating

El Sereno Elementary School

  • Education Level: Middle
  • # of students: 432
  • # of teachers: 18
6
GreatSchools Rating

Abraham Lincoln Senior High School

  • Education Level: High
  • # of students: 1,219
  • # of teachers: 54
5
GreatSchools Rating
 

$661,500$808,500$735,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$2,712
Property Tax -$764
Property Insurance -$61
Property Management Fees -$143
CASH FLOW
-$760

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.

$735,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$200,525

INVESTMENT

$200,525

Down Payment
$183,750
Rehab Estimate
$5,750
Closing Costs
$11,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,712

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $183,750
Loan Amount $551,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,964

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $3,469

    COMP ESTIMATED VALUE
  • $2.45

    COMP AVG. RENT PER SQFT
Comps Range
$2,920
1$2,9202$3,2003$3,3004$3,3005$3,495
$3,495
RENT COMPS ANALYSIS
  • 4432 Van Horne Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1924
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $2.06
    •  
  • 1027 Doran Street South Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1905 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1905
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.38
    •  
  • 1033 Palm Avenue South Pasadena, CA 3
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1905 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1905
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.54
    •  
  • 830 Bonita Drive South Pasadena, CA 4
    • 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
    •  
  • 3540 Locke Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1910 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1910
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.50
    •  
PROPERTY LISTING DETAILS
Joseph Lightfoot
Sotheby's International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20656428
Last Updated: 11/06/2020
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