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6047 Southside Drive Los Angeles, CA 90022

3 Beds 2 Baths 1,550 sqft Built 1927

$599,999

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1927
  • Price/Sqft : $387.10
  • 5 Days on Market
  • MLS # : PW21032396
  • Updated Date : 02/24/2021 at 12:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,550 sqft
  • Baths : 2 full
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

Great single story 3 bed/ 2 bath home with just over 1,500 sq ft of living space. Upon entering you will notice a spacious family room with fireplace. The kitchen is spacious and has plenty of cabinets for storage. The master bedroom is large with a slider to access the backyard, updated bathroom, and access to basement. Other amenities included remodeled guest bathroom, original hardwood floors, and central AC/ heat. The backyard is perfect for entertaining family and friends. Don’t miss this opportunity to fall in love with this home and make it your own!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

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
Montebello Park Elementary School Primary Regular 620 20 4
Eastmont Intermediate School Middle Regular 974 33 2
Schurr High School High Regular 2,840 110 5

Montebello Park Elementary School

  • Education Level: Primary
  • # of students: 620
  • # of teachers: 20
4
GreatSchools Rating

Eastmont Intermediate School

  • Education Level: Middle
  • # of students: 974
  • # of teachers: 33
2
GreatSchools Rating

Schurr High School

  • Education Level: High
  • # of students: 2,840
  • # of teachers: 110
5
GreatSchools Rating
 

$539,999$659,999$599,999

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$2,084
Property Tax -$715
Property Insurance -$64
Property Management Fees -$133
CASH FLOW
-$286

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.

$599,999

PROJECTED PRICE

$2,710

PROJECTED RENT

0.45%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $449,999
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$20,325

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $1.75

    LIST RENT PER SQFT
  • $3,170

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,710
1$2,7102$2,8003$3,500
$3,500
RENT COMPS ANALYSIS
  • 6047 Southside Drive Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1927
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $1.75
    •  
  • 653 S 6th Street Montebello, CA 2
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1941
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.22
    •  
  • 414 S Maple Avenue Montebello, CA 3
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1926
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.87
    •  
PROPERTY LISTING DETAILS
Ray Fernandez
T.n.g. Real Estate Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21032396
Last Updated: 02/24/2021
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