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8035 Kittyhawk Avenue Los Angeles, CA 90045

3 Beds 2 Baths 1,942 sqft Built 1947

$1,395,000

List Price

$4,400

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $718.33
  • 66 Days on Market
  • MLS # : 20656202
  • Updated Date : 11/12/2020 at 14:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,942 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Vacation at home and enjoy the California indoor/outdoor lifestyle with your own private pool and hot tub in a lovely landscaped backyard. Perfect for entertaining. Fully fenced spacious, lush flat lawn in front. Situated on a large corner lot this 1942 sq ft home checks all the boxes! Features 3 bedrooms and 2 baths. Extra large living room and dining room with fireplace. Plus a family room which opens to patio and pool with optional pool fence. Open floor plan with remodeled kitchen, abundant custom cabinetry, breakfast bar and dining area. Quartz counters and stainless steel appliances. Master bedroom has ensuite remodeled bathroom. Separate work-from-home office/cabana by the pool. New carpet and luxury plank flooring. Air conditioned. Extra storage & 2 car garage driveway for 4 car parking. Easy access to LAX, 405 freeway, and the future Westchester Metro tram station. Just minutes to the beach, restaurants, LMU, Silicon Beach, Playa Vista, Marina del Rey and the new SoFi stadium.

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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: 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
Westport Heights Elementary School Primary Regular 371 16 4
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

Westport Heights Elementary School

  • Education Level: Primary
  • # of students: 371
  • # of teachers: 16
4
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
 

$1,255,500$1,534,500$1,395,000

PURCHASE PRICE

$3,960$4,840$4,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,400
EXPENSES Loan Payment -$4,845
Property Tax -$1,430
Property Insurance -$74
Property Management Fees -$216
CASH FLOW
-$2,165

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.

$1,395,000

PROJECTED PRICE

$4,400

PROJECTED RENT

0.32%

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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$375,425

INVESTMENT

$375,425

Down Payment
$348,750
Rehab Estimate
$5,750
Closing Costs
$20,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$4,845

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $348,750
Loan Amount $1,046,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,400

    LIST RENT
  • $2.27

    LIST RENT PER SQFT
  • $4,437

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,1753$4,4004$4,5005$4,800
$4,800
RENT COMPS ANALYSIS
  • 8035 Kittyhawk Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1947
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $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
    property image
    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
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,175
    • $2.24
    •  
  • 8021 Kentwood Avenue Los Angeles, CA 4
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1956 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1956
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.16
    •  
  • 7942 Agnew Avenue Westchester, CA 5
    • 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1948 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1948
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.42
    •  
PROPERTY LISTING DETAILS
Fiona Rogers
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20656202
Last Updated: 11/12/2020
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