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448 S Woods Avenue East Los Angeles, CA 90022

5 Beds 3 Baths 1,204 sqft Built 1938

$580,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1938
  • Price/Sqft : $481.73
  • 7 Days on Market
  • MLS # : WS20240525
  • Updated Date : 11/17/2020 at 15:27
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,204 sqft
  • Baths : 3 full
Listing Agent

Kw Executive

Listing Agent's Description

Great starter home with lot of potentials! The owner doesn't want L/A to take any professional photos due to the owner occupied the property, hope this won't effect you must to come and see this turn-key style SFR in town! Few minutes to ELAC college, Cal state LA and shopping plazas. The current owner also took great cares of the interior and exterior maintains of the house, renovated the house in purchase in 2018, the newer roof with re-installed water proofs, newer white vinyl windows, newer wall painting, newer insulations, newer wood floorings, newer kitchen cabinets etc. Originally configuration was large 2/1 bath home with 1,204 sqft. The current owner covered the main house into 3 beds 2 full bathes with one kitchen, one den, living area but no permit. The original 2 detached car garages covered to 2 beds 1 full bath with a kitchen and living room without permit. Per public information about the 2020 ADU ordinance, the future owner could add a junior ADU in main house and/or add a detached ADU in back with permit. County planning department told the owner that this property has huge possibility and potentials to part into two separate addresses in the future. LOTS of potentials depend on your own investigations. You and your family also could live in the main house and rent out the rear detached rooms. It's just wonderful for cash income as well!

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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: East Los Angeles

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $139k725k

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

Neighborhood: East Los Angeles

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14773316

* 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
4th Street Elementary School Primary Regular 945 41 4
Griffith Middle School Middle Regular 1,396 66 5
Hilda L Solis Learning Academy High Unknown 291 12 NA

4th Street Elementary School

  • Education Level: Primary
  • # of students: 945
  • # of teachers: 41
4
GreatSchools Rating

Griffith Middle School

  • Education Level: Middle
  • # of students: 1,396
  • # of teachers: 66
5
GreatSchools Rating

Hilda L Solis Learning Academy

  • Education Level: High
  • # of students: 291
  • # of teachers: 12
NA
GreatSchools Rating
 

$522,000$638,000$580,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,140
Property Tax -$681
Property Insurance -$56
Property Management Fees -$122
CASH FLOW
-$508

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.

$580,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 10.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,450

INVESTMENT

$159,450

Down Payment
$145,000
Rehab Estimate
$5,750
Closing Costs
$8,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $145,000
Loan Amount $435,000
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$9,276

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $2.07

    LIST RENT PER SQFT
  • $2,757

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$3,0003$3,500
$3,500
RENT COMPS ANALYSIS
  • 448 S Woods Avenue East Los Angeles, CA 1
    • 5 beds 3 baths ∙ 1,204 Sqft ∙ Built 1938 5 beds 3 baths ∙ 1,204 Sqft ∙ Built 1938
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $2.07
    •  
  • 2308 Connor Avenue Commerce, CA 2
    • 4 beds 2 baths ∙ 1,308 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,308 Sqft ∙ Built 1955
    property image
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.29
    •  
  • 1201 Pebbledon Street Monterey Park, CA 3
    • 4 beds 2 baths ∙ 1,529 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,529 Sqft ∙ Built 1958
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.29
    •  
PROPERTY LISTING DETAILS
Celine Peng
Kw Executive
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20240525
Last Updated: 11/17/2020
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