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6325 6th Avenue Los Angeles, CA 90043

4 Beds 2 Baths 1,990 sqft Built 1947

$625,000

List Price

$3,190

$2.9K - $3.4K

Rent Est.

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

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
59th Street Elementary School Primary Regular 375 18 1
Horace Mann Middle School Middle Regular 425 19 NA
Crenshaw Magnets- Science Tech Engineer Math And Medicine High Magnet 981 54 2

59th Street Elementary School

  • Education Level: Primary
  • # of students: 375
  • # of teachers: 18
1
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
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,871$3,509$3,190

RENT

DOWN PAYMENT
FINANCING

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

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

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
$2,800
1$2,8002$3,0503$3,1904$3,3005$3,500
$3,500
RENT COMPS ANALYSIS
  • 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
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $1.60
    •  
  • 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
    property image
    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
    property image
    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
    property image
    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
Marsha Thompson
K & K Group, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21024274
Last Updated: 02/13/2021
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