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7510 S Harvard Boulevard Los Angeles, CA 90047

3 Beds 2 Baths 1,569 sqft Built 1930

$649,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1930
  • Price/Sqft : $413.64
  • 3 Days on Market
  • MLS # : PW20251972
  • Updated Date : 12/04/2020 at 21:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,569 sqft
  • Baths : 2 full
Listing Agent

Jorge Granados, Broker

Listing Agent's Description

Welcome to this beautiful 1930's classic Spanish-Style Home with plenty of architectural charm inside and out! This cozy home has been well kept and updated throughout the years, with a roof, copper plumbing, electrical, bath, kitchen and central AC... It is conveniently located near DTLA, LAX, shops, trendy restaurants, cultural attractions, SoFi Stadium, the Forum, Hollywood Park and so much more! Enter into this brightly lit, open and airy family room with large windows, beautiful original hardwood floors and living room fireplace. The family room flows seamlessly through an archway leading into a formal dining room and onto the kitchen with a breakfast bar which is great for entertaining. The kitchen was remodeled within the last 10 years with granite countertops, wood and glass panel cabinets, plenty of storage space and wooden wine glass rack. The adjoining hall leads to a full bathroom and 3 spacious bedrooms, one of which is the master suite with a walk-in closet and master bath. Come relax in your own private jetted tub or walk-in stand up shower with a rain head faucet located in the on-suite bathroom. You'll enjoy the landscaped front and backyard which include a sprinkler system. A must see!

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: 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
 

$584,100$713,900$649,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,395
Property Tax -$683
Property Insurance -$65
Property Management Fees -$137
CASH FLOW
-$480

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.

$649,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.43%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$16,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $3,079

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8003$3,0304$3,2505$3,500
$3,500
RENT COMPS ANALYSIS
  • 7510 S Harvard Boulevard Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1930
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.78
    •  
  • 7718 Brighton Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1939
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.74
    •  
  • 1265 W 82nd Street Los Angeles, CA 3
    • 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
    •  
  • 2153 W 77th Street Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1926
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.06
    •  
  • 1719 W 79th Street Los Angeles, CA 5
    • 3 beds 1 baths ∙ 1,700 Sqft ∙ Built 1927 3 beds 1 baths ∙ 1,700 Sqft ∙ Built 1927
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.06
    •  
PROPERTY LISTING DETAILS
Edward Alvarez
Jorge Granados, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20251972
Last Updated: 12/04/2020
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