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521 S Mathews Street Los Angeles, CA 90033

5 Beds 2 Baths 1,414 sqft Built 1928

$699,900

List Price

$2,930

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1928
  • Price/Sqft : $494.98
  • 2 Days on Market
  • MLS # : 20662816
  • Updated Date : 11/21/2020 at 20:49
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,414 sqft
  • Baths : 2 full
Listing Agent

Century 21 Masters

Listing Agent's Description

Great Investment/Development opportunity in Boyle Heights! Located just East of the L.A. River and Downtown L.A. Boyle Heights is one of L.A.'s most historic and vibrant neighborhoods that is up and coming with a ton of potential. Featuring a spacious 6,000sqft lot zoned LAR1.5. Very centrally located and within minutes to Downtown L.A., Arts District, L.A. River Bridge, Metro Gold Line, USC Medical Center, Keck USC School of Medicine, Little Tokyo, China Town, 5, 10, 60, 101, and 710 freeways.

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: Boyle Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $139k725k

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

Neighborhood: Boyle Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14623316

* 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
Breed Street Elementary School Primary Regular 425 16 4
Hollenbeck Middle School Middle Regular 1,176 58 6
Felicitas And Gonzalo Mendez High School High Regular 792 37 3

Breed Street Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 16
4
GreatSchools Rating

Hollenbeck Middle School

  • Education Level: Middle
  • # of students: 1,176
  • # of teachers: 58
6
GreatSchools Rating

Felicitas And Gonzalo Mendez High School

  • Education Level: High
  • # of students: 792
  • # of teachers: 37
3
GreatSchools Rating
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,637$3,223$2,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,930
EXPENSES Loan Payment -$2,582
Property Tax -$727
Property Insurance -$61
Property Management Fees -$144
CASH FLOW
-$584

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.

$699,900

PROJECTED PRICE

$2,930

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.2%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$13,550

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,930

    LIST RENT
  • $2.07

    LIST RENT PER SQFT
  • $3,252

    COMP ESTIMATED VALUE
  • $2.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,930
1$2,9302$2,995
$2,995
RENT COMPS ANALYSIS
  • 521 S Mathews Street Los Angeles, CA 1
    • 5 beds 2 baths ∙ 1,414 Sqft ∙ Built 1928 5 beds 2 baths ∙ 1,414 Sqft ∙ Built 1928
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,930
    • $2.07
    •  
  • 3334 City Terrace Drive Los Angeles, CA 2
    • 4 beds 3 baths ∙ 1,300 Sqft ∙ Built 1940 4 beds 3 baths ∙ 1,300 Sqft ∙ Built 1940
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.30
    •  
PROPERTY LISTING DETAILS
Nancy G. Zelada
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20662816
Last Updated: 11/21/2020
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