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6427 7th Avenue Los Angeles, CA 90043

3 Beds 1 Baths 1,112 sqft Built 1922

$505,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1922
  • Price/Sqft : $454.14
  • 6 Days on Market
  • MLS # : 21676196
  • Updated Date : 01/05/2021 at 16:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,112 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Realty Los Feliz

Listing Agent's Description

Perfect starter home near by the multi Billion dollar SOFI Stadium and adjacent to the Multi Million dollar estates in View Park and Ladera Heights. Lowest price in the area with 3 full bedrooms and 1 bath with front yard and rear yard. Coverd patio/porch and car port with a Spanish style exterior with over 1000 sq ft of living space. Metro rail being built near by for easy access to anywhere in the greater city such as LAX, Union Station, USC/Downtown, the shores Long Beach & Santa Monica, Pasadena, the Valleys San Fernando & San Gabriel.

SEE MORE

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
Young Empowered Scholars Academy Primary Regular 626 30 NA
Horace Mann Middle School Middle Regular 425 19 NA
Crenshaw Magnets- Science Tech Engineer Math And Medicine High Magnet 981 54 2

Young Empowered Scholars Academy

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 30
NA
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
 

$454,500$555,500$505,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,754
Property Tax -$532
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$29

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.

$505,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.48%

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

PROJECTED ANNUAL CASH FLOW

11530$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$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,754

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $126,250
Loan Amount $378,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$36,646

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $2.19

    LIST RENT PER SQFT
  • $2,146

    COMP ESTIMATED VALUE
  • $1.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,430
1$2,4302$2,5003$2,600
$2,600
RENT COMPS ANALYSIS
  • 6427 7th Avenue Los Angeles, CA 1
    • 3 beds 1 baths ∙ 1,112 Sqft ∙ Built 1922 3 beds 1 baths ∙ 1,112 Sqft ∙ Built 1922
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $2.19
    •  
  • 1300 W 69th Street Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,262 Sqft ∙ Built 1921 3 beds 1 baths ∙ 1,262 Sqft ∙ Built 1921
    property image
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.98
    •  
  • 2140 W 84th Street Los Angeles, CA 3
    • 3 beds 1 baths ∙ 1,386 Sqft ∙ Built 1927 3 beds 1 baths ∙ 1,386 Sqft ∙ Built 1927
    property image
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.88
    •  
PROPERTY LISTING DETAILS
Esau Tenorio
Keller Williams Realty Los Feliz
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21676196
Last Updated: 01/05/2021
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