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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Westchester
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$375,425
LOAN DETAILS
$4,845
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $348,750 |
| Loan Amount | $1,046,250 |
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
-
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
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 20656202
Last Updated: 11/12/2020
