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PROPERTY INFO
FACTS
- Single Family
- Built In 1947
- Price/Sqft : $314.07
- 11 Days on Market
- MLS # : PW21024274
- Updated Date : 02/13/2021 at 05:16
CONSTRUCTION
- Beds : 4
- Floor Size : 1,990 sqft
- Baths : 2 full
Listing Agent
K & K Group, Inc.
Listing Agent's Description
This large cozy home is located in the Hyde Park area. It comes with a large spacious living room open to its antiquated, originally tiled kitchen. The kitchen has a built in microwave and stove. The attached garage is converted into a large bedroom with a detached wardrobe north of the kitchen. The newly laid wooden floor hallway, the 2 bathrooms sit left of the hallway. Towards the end of the hall are entries to the last 3 bedrooms. The master bedroom has a walk in closet with its original wooden shelves. This home is full of potential for a home designer who is ready with great ideas for a modern touch. The laundry room is right outside the kitchen door. This yard has very minimal back yard space, but lots of storage in the back. The front has good space for parties and family get togethers with its huge carport.
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MARKET HIGHLIGHTS
- 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)
- 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)
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 | $3,190 |
| EXPENSES | Loan Payment | -$2,171 |
| Property Tax | -$658 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$156 | |
|
CASH FLOW
$130
|
||
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.
$625,000
PROJECTED PRICE
$3,190
PROJECTED RENT
0.51%
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
$171,375
LOAN DETAILS
$2,171
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $156,250 |
| Loan Amount | $468,750 |
7.67
YEARS SAVED
$63,160
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,190
LIST RENT -
$1.6
LIST RENT PER SQFT
-
$3,383
COMP ESTIMATED VALUE -
$1.7
COMP AVG. RENT PER SQFT
Comps Range
-
6325 6th Avenue Los Angeles, CA 3
- 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 1947 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 1947
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- Rent
- Rent Per SQFT
- $3,190
- $1.60
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3500 W Manchester Boulevard Inglewood, CA 1
- 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1964
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LEASED 10/02/19- Rent
- Rent Per SQFT
- $2,800
- $1.54
-
2143 W 76th Street Los Angeles, CA 2
- 3 beds 1 baths ∙ 1,714 Sqft ∙ Built 1929 3 beds 1 baths ∙ 1,714 Sqft ∙ Built 1929
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LEASED 08/26/19- Rent
- Rent Per SQFT
- $3,050
- $1.78
-
8801 S 6th Avenue Inglewood, CA 4
- 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1931
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LEASED 02/20/20- Rent
- Rent Per SQFT
- $3,300
- $1.74
-
4247 9th Avenue Los Angeles, CA 5
- 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 1928 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 1928
![property image]()
LEASED 01/16/21- Rent
- Rent Per SQFT
- $3,500
- $1.74
PROPERTY LISTING DETAILS
K & K Group, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21024274
Last Updated: 02/13/2021
