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6543 W 87th Street Westchester, CA 90045

4 Beds 3 Baths 1,979 sqft Built 1944

$1,249,000

List Price

$4,490

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1944
  • Price/Sqft : $631.13
  • 12 Days on Market
  • MLS # : OC20198302
  • Updated Date : 10/31/2020 at 12:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,979 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Coastal Homes

Listing Agent's Description

Welcome to this delightful coastal home located in the heart of Westchester, which has never been on the market before! Just bring your toothbrush because this home is move in ready! Greet guests on your covered front porch and open the front door and witness a cheerful living room boasting a roaring fireplace, plantation shutters, recessed lighting and beautifully maintained original hardwood floors. Incredible natural light flows throughout this charming home. The flexible floorplan is currently used as a 4 bedroom and 2 bath, plus an additional room ( Studio aka " Attached Recreation Room with outside access - as per the permit ) with a half bath that was built in 2014 as a music recording studio but has many other useful possibilities including an office, bonus room, or mother in law unit. Plantation shutters, window blinds, new paint, electrical upgraded to current standards, tankless water heater, recessed lighting, LAX retrofit windows, and new roof on the garage are some of the additional upgrades. The detached 2 car garage provides plenty of extra storage options, while the long driveway offers plenty of off street parking. Minutes from Silicon Beach's tech hub, Playa Vista, Playa del Rey, Venice, LAX and shopping and dining.

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: 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
 

$1,124,100$1,373,900$1,249,000

PURCHASE PRICE

$4,041$4,939$4,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,490
EXPENSES Loan Payment -$4,608
Property Tax -$1,260
Property Insurance -$75
Property Management Fees -$220
CASH FLOW
-$1,673

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.

$1,249,000

PROJECTED PRICE

$4,490

PROJECTED RENT

0.36%

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$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$20k

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$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$336,735

INVESTMENT

$336,735

Down Payment
$312,250
Rehab Estimate
$5,750
Closing Costs
$18,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,608

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $312,250
Loan Amount $936,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,926

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,490

    LIST RENT
  • $2.27

    LIST RENT PER SQFT
  • $4,458

    COMP ESTIMATED VALUE
  • $2.25

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,1753$4,2004$4,4905$4,500
$4,500
RENT COMPS ANALYSIS
  • 6543 W 87th Street Westchester, CA 4
    • 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 1944 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 1944
    • Rent
    • Rent Per SQFT
    •  
    • $4,490
    • $2.27
    •  
  • 5522 W 82nd Street Los Angeles, CA 1
    • 4 beds 3 baths ∙ 1,720 Sqft ∙ Built 1950 4 beds 3 baths ∙ 1,720 Sqft ∙ Built 1950
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.32
    •  
  • 8106 Flight Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,866 Sqft ∙ Built 1948 3 beds 3 baths ∙ 1,866 Sqft ∙ Built 1948
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,175
    • $2.24
    •  
  • 6666 W 87th Place Westchester, CA 3
    • 4 beds 1 baths ∙ 1,834 Sqft ∙ Built 1946 4 beds 1 baths ∙ 1,834 Sqft ∙ Built 1946
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.29
    •  
  • 8021 Kentwood Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1956 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1956
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.16
    •  
PROPERTY LISTING DETAILS
Carole Oberto
Re/max Coastal Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20198302
Last Updated: 10/31/2020
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