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7318 S Hobart Boulevard Los Angeles, CA 90047

3 Beds 1 Baths 1,231 sqft Built 1929

$569,999

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1929
  • Price/Sqft : $463.04
  • 7 Days on Market
  • MLS # : 21679108
  • Updated Date : 01/16/2021 at 21:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,231 sqft
  • Baths : 1 full
Listing Agent

Khorr Realty

Listing Agent's Description

Beautiful 3 bed 1 bath PLUS Large BONUS ROOM behind the detached garage, so many possibilities! Open floor plan perfect for entertaining.This bright home boasts real wood floors, ductless central AC+HEAT, living room w/ large picture window & fireplace, open dining room w/ 2 pony walls that flows into the kitchen. The trendy kitchen has travertine floors, granite counters & stainless steel appliances. Bathroom offers a tub/shower combo + a stand-alone shower. Fully equipped alarm system. Large rear yard features a grassy area + concrete patio w/ brick oven & fireplace. Detached 2 car garage (perfect for ADU), + additional parking for atleast 4 cars in the driveway. Centrally located to shops, stores, fwy +Less than 3 miles to SoFi stadium and The Forum!Buyers & agents must wear masks to showings & follow CAR best practices guidelines.+EMAIL PEAD & PREAPPROVAL for showings+ Prop profile indicates 2 bedrms buyers to investigate & satisfy themselves. Lawn was digitally enhanced w/color.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Manchester Square

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k725k

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

Neighborhood: Manchester Square

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
Raymond Avenue Elementary School Primary Regular 540 22 2
Horace Mann Middle School Middle Regular 425 19 NA
Augustus F Hawkins Sh - Critical Design And Gaming School High Unknown 550 23 NA

Raymond Avenue Elementary School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 22
2
GreatSchools Rating

Horace Mann Middle School

  • Education Level: Middle
  • # of students: 425
  • # of teachers: 19
NA
GreatSchools Rating

Augustus F Hawkins Sh - Critical Design And Gaming School

  • Education Level: High
  • # of students: 550
  • # of teachers: 23
NA
GreatSchools Rating
 

$512,999$626,999$569,999

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,980
Property Tax -$600
Property Insurance -$57
Property Management Fees -$124
CASH FLOW
-$221

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.

$569,999

PROJECTED PRICE

$2,540

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 12.8%
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-$5.0k$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$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,980

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,500
Loan Amount $427,499
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$23,779

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $2,650

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5403$2,8004$2,9955$3,030
$3,030
RENT COMPS ANALYSIS
  • 7318 S Hobart Boulevard Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,231 Sqft ∙ Built 1929 3 beds 1 baths ∙ 1,231 Sqft ∙ Built 1929
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $2.06
    •  
  • 1300 W 69th Street Los Angeles, CA 1
    • 3 beds 1 baths ∙ 1,262 Sqft ∙ Built 1921 3 beds 1 baths ∙ 1,262 Sqft ∙ Built 1921
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.98
    •  
  • 7819 S Normandie Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1935
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.27
    •  
  • 1815 W 83rd Street Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1928
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.37
    •  
  • 1265 W 82nd Street Los Angeles, CA 5
    • 3 beds 1 baths ∙ 1,525 Sqft ∙ Built 1936 3 beds 1 baths ∙ 1,525 Sqft ∙ Built 1936
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $1.99
    •  
PROPERTY LISTING DETAILS
Pila Gray-jessie
Khorr Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21679108
Last Updated: 01/16/2021
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