Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

717 Onarga Avenue Los Angeles, CA 90042

3 Beds 1 Baths 1,500 sqft Built 1925

$799,800

List Price

$3,490

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1925
  • Price/Sqft : $533.20
  • 6 Days on Market
  • MLS # : SR21053418
  • Updated Date : 03/17/2021 at 14:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Palos Verdes

Listing Agent's Description

This hidden gem located in the highly desirable area of Highland Park is just what you're looking for! Don't miss out on this opportunity to live close to Pasadena, South Pass, Glendale and just a short distance to exciting downtown LA. This home boasts 5 bedrooms and 4 bathrooms. 3 Bedrooms / 2 bathrooms, living room, dining room and a beautifully remodeled kitchen are on the main level. Kitchen features granite counters, beautiful wood cabinets and stainless steel sink and appliances. The lower level has a basement and garage that have been converted to a laundry room and 2 Master Suites with bathrooms, portable closets and each has a separate entrance. Perfect for combined families, older children or renting out. Tiered front porch with sitting space and an adorable courtyard patio area with tiled floor and white vinyl fence. Square Footage is estimated by the homeowner. See Supplements and private remarks in the listing.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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]
  • 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: Highland Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $153k763k

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

Neighborhood: Highland Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183338

* 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
Annandale Elementary School Primary Regular 314 14 2
Luther Burbank Middle School Middle Regular 883 36 5

Annandale Elementary School

  • Education Level: Primary
  • # of students: 314
  • # of teachers: 14
2
GreatSchools Rating

Luther Burbank Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 36
5
GreatSchools Rating
 

$719,820$879,780$799,800

PURCHASE PRICE

$3,141$3,839$3,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,490
EXPENSES Loan Payment -$2,778
Property Tax -$831
Property Insurance -$63
Property Management Fees -$171
CASH FLOW
-$353

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.

$799,800

PROJECTED PRICE

$3,490

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.1%
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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,697

INVESTMENT

$217,697

Down Payment
$199,950
Rehab Estimate
$5,750
Closing Costs
$11,997

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,950
Loan Amount $599,850
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$30,395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,490

    LIST RENT
  • $2.33

    LIST RENT PER SQFT
  • $4,073

    COMP ESTIMATED VALUE
  • $2.72

    COMP AVG. RENT PER SQFT
Comps Range
$3,490
1$3,4902$4,1003$4,500
$4,500
RENT COMPS ANALYSIS
  • 717 Onarga Avenue Los Angeles, CA 1
    • 4 beds 4 baths ∙ 1,500 Sqft ∙ Built 1925 4 beds 4 baths ∙ 1,500 Sqft ∙ Built 1925
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,490
    • $2.33
    •  
  • 4843 Floristan Avenue Los Angeles, CA 2
    • 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 1924 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 1924
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.27
    •  
  • 5106 Raphael Street Los Angeles, CA 3
    • 4 beds 4 baths ∙ 1,424 Sqft ∙ Built 1925 4 beds 4 baths ∙ 1,424 Sqft ∙ Built 1925
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.16
    •  
PROPERTY LISTING DETAILS
Nicole Lopez
Keller Williams Palos Verdes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21053418
Last Updated: 03/17/2021
BESbswy