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8101 Handley Avenue Los Angeles, CA 90045

3 Beds 1 Baths 1,123 sqft Built 1946

$950,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $845.95
  • 4 Days on Market
  • MLS # : 21703036
  • Updated Date : 03/11/2021 at 15:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,123 sqft
  • Baths : 1 full
Listing Agent

Sotheby's International Realty

Listing Agent's Description

This charming Mid-Century Ranch is ready for its new owners. It sits on a large lot, in the popular Osage area of Westchester. Step back in time with exposed beams, and a dramatic original brick fireplace and floor to ceiling patio sliders which spill out onto the large covered patio that overlooks the huge, lush backyard. Some of the updates include fresh paint, central HVAC, Brazilian Rosewood floors and a tankless water heater. It has 3 ample sized, sunlit bedrooms with tons of storage space. The bathroom has a claw foot soaking tub. The backyard has lemon, orange and other mature trees that create a lush and private feeling escape.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)
  • 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)

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
 

$855,000$1,045,000$950,000

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$3,300
Property Tax -$974
Property Insurance -$54
Property Management Fees -$167
CASH FLOW
-$1,094

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.

$950,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.36%

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,300

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,500
Loan Amount $712,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,601

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $3.03

    LIST RENT PER SQFT
  • $3,397

    COMP ESTIMATED VALUE
  • $3.03

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,4003$4,2004$4,6005$4,750
$4,750
RENT COMPS ANALYSIS
  • 8101 Handley Avenue Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,123 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,123 Sqft ∙ Built 1946
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $3.03
    •  
  • 5969 W 75th Street Los Angeles, CA 1
    • 3 beds 1 baths ∙ 1,253 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,253 Sqft ∙ Built 1947
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.47
    •  
  • 8006 Osage Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,298 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,298 Sqft ∙ Built 1950
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.24
    •  
  • 5742 W 75th Street Los Angeles, CA 4
    • 3 beds 1 baths ∙ 1,461 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,461 Sqft ∙ Built 1948
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $3.15
    •  
  • 7024 Alverstone Westchester, CA 5
    • 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1951
    property image
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $3.24
    •  
PROPERTY LISTING DETAILS
Emily Johnson
Sotheby's International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21703036
Last Updated: 03/11/2021
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