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6400 W 82nd Street Westchester, CA 90045

3 Beds 2 Baths 1,622 sqft Built 1944

$1,149,000

List Price

$4,660

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1944
  • Price/Sqft : $708.38
  • 4 Days on Market
  • MLS # : 20664138
  • Updated Date : 11/26/2020 at 08:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,622 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Silicon Beach

Listing Agent's Description

Supremely located only minutes to LAX, this spacious 3BR/2BA, 1,622 sqft abode is central to world-class amenities, beaches, shopping & restaurants! Midcentury flair & early 20th century California style create an inviting architectural presence, while tropical landscaping adds a subtle touch of whimsy. Entering the home, you find a formal living area & instantly notice the dazzling hardwood floors & flowing luminous light. The kitchen has ample cabinetry, double sinks, gas range & tile flooring. Featuring an original wood-burning brick fireplace, an additional vast sunken living room is further enhanced by the wood beamed ceilings. Gather around the dining room table overlooking the living rm & completely private fenced-in backyard, which has a detached garage, large patio & showstopping pool! Surrounded by concrete & brick detailing, the sparkling pool promises great times w/family & friends. In addition, all 3 bedrooms have generously sized closets & share 2 full bathrooms.

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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: Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $199k1117k

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

Neighborhood: Westchester

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $17844363

* 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
Kentwood Elementary School Primary Regular 381 17 6
Orville Wright Engineering And Design Magnet Middle Regular 674 26 4
Westchester Enriched Sciences Magnets Health-sports Med Mag High Regular 1,247 55 3

Kentwood Elementary School

  • Education Level: Primary
  • # of students: 381
  • # of teachers: 17
6
GreatSchools Rating

Orville Wright Engineering And Design Magnet

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 26
4
GreatSchools Rating

Westchester Enriched Sciences Magnets Health-sports Med Mag

  • Education Level: High
  • # of students: 1,247
  • # of teachers: 55
3
GreatSchools Rating
 

$1,034,100$1,263,900$1,149,000

PURCHASE PRICE

$4,194$5,126$4,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,660
EXPENSES Loan Payment -$4,239
Property Tax -$1,159
Property Insurance -$66
Property Management Fees -$228
CASH FLOW
-$1,033

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$1,149,000

PROJECTED PRICE

$4,660

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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-$20k-$10k$0.0$10k$20k$30k

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$310,235

INVESTMENT

$310,235

Down Payment
$287,250
Rehab Estimate
$5,750
Closing Costs
$17,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$4,239

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,250
Loan Amount $861,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$18,629

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,660

    LIST RENT
  • $2.87

    LIST RENT PER SQFT
  • $4,988

    COMP ESTIMATED VALUE
  • $3.08

    COMP AVG. RENT PER SQFT
Comps Range
$4,500
1$4,5002$4,6003$4,6604$4,7005$4,750
$4,750
RENT COMPS ANALYSIS
  • 6400 W 82nd Street Westchester, CA 3
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1944
    • Rent
    • Rent Per SQFT
    •  
    • $4,660
    • $2.87
    •  
  • 7814 Airport Boulevard Los Angeles, CA 1
    • 3 beds 1 baths ∙ 1,516 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,516 Sqft ∙ Built 1949
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.97
    •  
  • 5742 W 75th Street Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,461 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,461 Sqft ∙ Built 1948
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $3.15
    •  
  • 6446 Riggs Place Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1953
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $3.15
    •  
  • 7919 Beland Avenue Westchester, CA 5
    • 3 beds 1 baths ∙ 1,570 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,570 Sqft ∙ Built 1951
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $3.03
    •  
PROPERTY LISTING DETAILS
Orlando Ravelo
Keller Williams Silicon Beach
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20664138
Last Updated: 11/26/2020
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