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8225 Belford Avenue Los Angeles, CA 90045

3 Beds 1 Baths 981 sqft Built 1947

$921,000

List Price

$3,310

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $938.84
  • 5 Days on Market
  • MLS # : 21691660
  • Updated Date : 02/10/2021 at 06:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 981 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Corner lot with room to build. Do not miss out on this great opportunity! Beautiful, clean, open and airy Westchester home with a back large front and rear yard. Curb of appeal front yard. 3 bedrooms, 1 bath. Long driveway. Hardwood floors throughout. No carpet. Closet organizers in 2 of the bedrooms. Dual pane windows throughout. Appliances excluded. 24-hr notice to show, tenant occupied. Call now for more details!

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: 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
 

$828,900$1,013,100$921,000

PURCHASE PRICE

$2,979$3,641$3,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,310
EXPENSES Loan Payment -$3,199
Property Tax -$944
Property Insurance -$51
Property Management Fees -$162
CASH FLOW
-$1,046

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.

$921,000

PROJECTED PRICE

$3,310

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$249,815

INVESTMENT

$249,815

Down Payment
$230,250
Rehab Estimate
$5,750
Closing Costs
$13,815

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,199

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $230,250
Loan Amount $690,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,758

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,310

    LIST RENT
  • $3.37

    LIST RENT PER SQFT
  • $3,012

    COMP ESTIMATED VALUE
  • $3.07

    COMP AVG. RENT PER SQFT
Comps Range
$3,310
1$3,3102$3,6753$4,200
$4,200
RENT COMPS ANALYSIS
  • 8225 Belford Avenue Los Angeles, CA 1
    • 3 beds 1 baths ∙ 981 Sqft ∙ Built 1947 3 beds 1 baths ∙ 981 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $3,310
    • $3.37
    •  
  • 304 W Hillcrest Boulevard Inglewood, CA 2
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1927
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,675
    • $2.90
    •  
  • 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
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.24
    •  
PROPERTY LISTING DETAILS
Olivia Ramirez
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21691660
Last Updated: 02/10/2021
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