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7676 N Figueroa Street Los Angeles, CA 90041

3 Beds 1 Baths 1,548 sqft Built 1957

$1,099,000

List Price

$3,700

$3.5K - $4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $709.95
  • 31 Days on Market
  • MLS # : P1-2604
  • Updated Date : 01/07/2021 at 21:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,548 sqft
  • Baths : 1 full
Listing Agent

Dilbeck Real Estate

Listing Agent's Description

Welcome to Upper Figueroa St. in Eagle Rock - a hidden enclave consisting solely of single family residential homes and bordered to the West by a gentle hillside known as Allatorre Eagle Rock Park. This meticulously maintained home boasts privacy and curb appeal located at the end of this quiet street, bordered by only one neighbor. A spacious living/dining great room greet you upon entry with gleaming refinished wood floors, decorative fireplace, and views of the private backyard. An updated kitchen offers plenty of functionality with ample natural light, newer quartz countertops, and loads of counter space. A versatile space adjacent to the kitchen could be used as a home work station or breakfast nook. Three Bedrooms are ideally located off the main hallway, including a master with its own private updated bath. A second updated bathroom with dual sinks featuring a Tub/shower Combo is situated at the hall entry. It doesn't end there - the rear yard includes a generous grassy area, child's play set, newer planter boxes, and a tree shaded patio area with tasteful reclaimed concrete. To top it off, the garage is a versatile space that could be used for storage, parking, or an entertainment room as the current owners have creatively adapted it to. The systems include updated electrical, copper plumbing, central heat/air, newer water heater, and much more. This one is truly move-in ready!

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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: Eagle Rock

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Eagle Rock

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843752

* 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
Dahlia Heights Elementary School Primary Regular 374 16 6
Eagle Rock High School Middle Regular 2,469 95 7
Eagle Rock High School High Regular 2,469 95 7

Dahlia Heights Elementary School

  • Education Level: Primary
  • # of students: 374
  • # of teachers: 16
6
GreatSchools Rating

Eagle Rock High School

  • Education Level: Middle
  • # of students: 2,469
  • # of teachers: 95
7
GreatSchools Rating

Eagle Rock High School

  • Education Level: High
  • # of students: 2,469
  • # of teachers: 95
7
GreatSchools Rating
 

$989,100$1,208,900$1,099,000

PURCHASE PRICE

$3,330$4,070$3,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,700
EXPENSES Loan Payment -$3,817
Property Tax -$1,142
Property Insurance -$64
Property Management Fees -$181
CASH FLOW
-$1,505

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.

$1,099,000

PROJECTED PRICE

$3,700

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 10.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$296,985

INVESTMENT

$296,985

Down Payment
$274,750
Rehab Estimate
$5,750
Closing Costs
$16,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,817

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $274,750
Loan Amount $824,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,700

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $3,723

    COMP ESTIMATED VALUE
  • $2.41

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,7003$3,7004$3,7005$4,300
$4,300
RENT COMPS ANALYSIS
  • 7676 N Figueroa Street Los Angeles, CA 4
    • 3 beds 1 baths ∙ 1,548 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,548 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.39
    •  
  • 246 N Orange Grove Boulevard Pasadena, CA 1
    • 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1975
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.31
    •  
  • 431 Cherry Drive Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1958
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.44
    •  
  • 1340 Doremus Road Pasadena, CA 3
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1958
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.26
    •  
  • 5010 Eaton Street Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1956
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.61
    •  
PROPERTY LISTING DETAILS
Christopher Sullivan
Dilbeck Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2604
Last Updated: 01/07/2021
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