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6111 S Harcourt Avenue Los Angeles, CA 90043

4 Beds 3 Baths 1,700 sqft Built 1924

$1,050,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1924
  • Price/Sqft : $617.65
  • 8 Days on Market
  • MLS # : 21678370
  • Updated Date : 01/16/2021 at 15:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,700 sqft
  • Baths : 3 full
Listing Agent

Acme Real Estate

Listing Agent's Description

Picture perfect jewel box compound in hot View Heights! 3+2 renovated main house, plus 800 sq. ft 1 bedroom ADU! Sundrenched front house features hardwood floors, renovated kitchen w/fresh backsplash and new cabinetry, SS appliances, modern lighting, and updated bathrooms w/subway tile and Carrara marble vanity. Front house currently rented for $2995. ADU delivered vacant is legally permitted and comes with its own address, includes full large kitchen with new appliances and w/d hook ups, refinished concrete floors, oversized bedroom with master bath, and its own private yard. Live in the back and keep the tenants in the front! Both units feature new HVAC, updated electrical and plumbing. View Park adjacent. Easy East/West access, close to shopping, restaurants, coffee shops and more! Welcome home!

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: Hyde Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $153k725k

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

Neighborhood: Hyde Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183316

* 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
54th Street Elementary School Primary Regular 290 13 2
Horace Mann Middle School Middle Regular 425 19 NA
Crenshaw Magnets- Science Tech Engineer Math And Medicine High Magnet 981 54 2

54th Street Elementary School

  • Education Level: Primary
  • # of students: 290
  • # of teachers: 13
2
GreatSchools Rating

Horace Mann Middle School

  • Education Level: Middle
  • # of students: 425
  • # of teachers: 19
NA
GreatSchools Rating

Crenshaw Magnets- Science Tech Engineer Math And Medicine

  • Education Level: High
  • # of students: 981
  • # of teachers: 54
2
GreatSchools Rating
 

$945,000$1,155,000$1,050,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$3,647
Property Tax -$1,105
Property Insurance -$68
Property Management Fees -$172
CASH FLOW
-$1,492

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.

$1,050,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$284,000

INVESTMENT

$284,000

Down Payment
$262,500
Rehab Estimate
$5,750
Closing Costs
$15,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,647

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $262,500
Loan Amount $787,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$283

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $3,710

    COMP ESTIMATED VALUE
  • $2.18

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,4503$3,5004$3,5005$4,000
$4,000
RENT COMPS ANALYSIS
  • 6111 S Harcourt Avenue Los Angeles, CA 4
    • 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1924 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1924
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.06
    •  
  • 5438 Hillcrest Drive Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1923
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.23
    •  
  • 2916 W 79th Street Inglewood, CA 2
    • 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1936 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1936
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.24
    •  
  • 8225 West Boulevard Inglewood, CA 3
    • 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
    •  
  • 5577 Onacrest Drive Los Angeles, CA 5
    • 4 beds 3 baths ∙ 1,778 Sqft ∙ Built 1940 4 beds 3 baths ∙ 1,778 Sqft ∙ Built 1940
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.25
    •  
PROPERTY LISTING DETAILS
Courtney Poulos
Acme Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21678370
Last Updated: 01/16/2021
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