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PROPERTY INFO
FACTS
- Single Family
- Built In 1931
- Price/Sqft : $567.85
- 21 Days on Market
- MLS # : 20670204
- Updated Date : 01/02/2021 at 14:52
CONSTRUCTION
- Beds : 3
- Floor Size : 1,717 sqft
- Baths : 1 full
Listing Agent
Pacific Playa Realty
Listing Agent's Description
VIEW HEIGHTS- Charming Mid-Century 3 BR/2 1/4 bath with kitchen and bath updates. Per Seller, Master BR has additional 200 sq. ft. making the total @ 1917 sq.ft. Attached to the garage on the alley is a sizeable Bonus Room with fireplace and wet bar -potential ADU. Great southern view of city lights and flights into LAX. Conveniently located minutes from 405 Fwy, Culver City, DTLA, LAX and just minutes NW of the new Rams stadium and Hollywood Park development in north Inglewood.
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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: Hyde Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hyde Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,570 |
| EXPENSES | Loan Payment | -$3,597 |
| Property Tax | -$1,050 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$175 | |
|
CASH FLOW
-$1,321
|
||
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.
$975,000
PROJECTED PRICE
$3,570
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 12.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$264,125
LOAN DETAILS
$3,597
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $243,750 |
| Loan Amount | $731,250 |
0.42
YEARS SAVED
$1,581
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,570
LIST RENT -
$2.08
LIST RENT PER SQFT
-
$3,577
COMP ESTIMATED VALUE -
$2.08
COMP AVG. RENT PER SQFT
Comps Range
-
4641 W 63rd Street Los Angeles, CA 3
- 3 beds 1 baths ∙ 1,717 Sqft ∙ Built 1931 3 beds 1 baths ∙ 1,717 Sqft ∙ Built 1931
- Rent
- Rent Per SQFT
- $3,570
- $2.08
-
318 E Hazel Inglewood, CA 1
- 3 beds 1 baths ∙ 1,580 Sqft ∙ Built 1939 3 beds 1 baths ∙ 1,580 Sqft ∙ Built 1939
LEASED 11/06/20- Rent
- Rent Per SQFT
- $3,000
- $1.90
-
8225 West Boulevard Inglewood, CA 2
- 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1940
LEASED 12/18/20- Rent
- Rent Per SQFT
- $3,500
- $2.01
-
6102 Acacia Street Los Angeles, CA 4
- 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1948
LEASED 10/13/20- Rent
- Rent Per SQFT
- $3,950
- $2.34
PROPERTY LISTING DETAILS
Pacific Playa Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 20670204
Last Updated: 01/02/2021
