Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

617 Amalia Avenue Los Angeles, CA 90022

3 Beds 1 Baths 1,088 sqft Built 1925

$539,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1925
  • Price/Sqft : $495.40
  • 5 Days on Market
  • MLS # : PW21008090
  • Updated Date : 01/14/2021 at 16:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,088 sqft
  • Baths : 1 full
Listing Agent

Mark 1 Real Estate, Inc.

Listing Agent's Description

Wonderful Opportunity to live in nice Los Angeles neighborhood! This is an open concept living room/kitchen area, The property features 3 bedrooms and 1 bath plus an extra Bathroom in Garage, Best price in area, This property will not last on market long! More Pictures Coming soon.

SEE MORE

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: 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
 

$485,100$592,900$539,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,872
Property Tax -$628
Property Insurance -$53
Property Management Fees -$128
CASH FLOW
-$71

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.

$539,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.48%

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$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,872

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$34,453

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $2.4

    LIST RENT PER SQFT
  • $2,976

    COMP ESTIMATED VALUE
  • $2.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,4003$2,610
$2,610
RENT COMPS ANALYSIS
  • 617 Amalia Avenue Los Angeles, CA 3
    • 3 beds 1 baths ∙ 1,088 Sqft ∙ Built 1925 3 beds 1 baths ∙ 1,088 Sqft ∙ Built 1925
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $2.40
    •  
  • 523 S Belden Ave N East Los Angeles, CA 1
    • 3 beds 1 baths ∙ 870 Sqft ∙ Built 1923 3 beds 1 baths ∙ 870 Sqft ∙ Built 1923
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $2.47
    •  
  • 1415 S Sydney Drive Commerce, CA 2
    • 3 beds 1 baths ∙ 800 Sqft ∙ Built 1930 3 beds 1 baths ∙ 800 Sqft ∙ Built 1930
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $3.00
    •  
PROPERTY LISTING DETAILS
Enrique Zapata
Mark 1 Real Estate, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21008090
Last Updated: 01/14/2021
BESbswy