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8408 Gonzaga Avenue Los Angeles, CA 90045

3 Beds 2 Baths 2,039 sqft Built 1938

$1,350,000

List Price

$4,360

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1938
  • Price/Sqft : $662.09
  • 5 Days on Market
  • MLS # : 21691212
  • Updated Date : 02/10/2021 at 12:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,039 sqft
  • Baths : 2 full
Listing Agent

Re/max Estate Properties

Listing Agent's Description

Located in the heart of Loyola Village, this three bedroom, two bath property with additional loft offers a great footprint and unlimited possibilities to make it the home of your dreams. Boasting several unique features, this property includes a welcoming patio, beautiful custom cabinets, granite countertops, stainless steel appliances and a wood burning fireplace to name a few. The large great room with vaulted ceilings in the back of the home offers the buyer to build additional bedrooms, bathrooms, offices, etc. all without having to expand the original footprint. Homes with this much potential in such a desirable location don't come to market often and don't last long. Schedule a tour today because it might be gone tomorrow!

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
Loyola Village Elementary Fine-performing Arts Magnet Primary Regular 394 17 6
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

Loyola Village Elementary Fine-performing Arts Magnet

  • Education Level: Primary
  • # of students: 394
  • # of teachers: 17
6
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
 

$1,215,000$1,485,000$1,350,000

PURCHASE PRICE

$3,924$4,796$4,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,360
EXPENSES Loan Payment -$4,689
Property Tax -$1,384
Property Insurance -$76
Property Management Fees -$214
CASH FLOW
-$2,003

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.

$1,350,000

PROJECTED PRICE

$4,360

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,500

INVESTMENT

$363,500

Down Payment
$337,500
Rehab Estimate
$5,750
Closing Costs
$20,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,689

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $337,500
Loan Amount $1,012,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,360

    LIST RENT
  • $2.14

    LIST RENT PER SQFT
  • $4,839

    COMP ESTIMATED VALUE
  • $2.37

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,3603$4,5004$4,800
$4,800
RENT COMPS ANALYSIS
  • 8408 Gonzaga Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1938 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1938
    • Rent
    • Rent Per SQFT
    •  
    • $4,360
    • $2.14
    •  
  • 6666 W 87th Place Westchester, CA 1
    • 4 beds 1 baths ∙ 1,834 Sqft ∙ Built 1946 4 beds 1 baths ∙ 1,834 Sqft ∙ Built 1946
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.29
    •  
  • 12057 Aneta Street Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 1952 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 1952
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.41
    •  
  • 7942 Agnew Avenue Westchester, CA 4
    • 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1948 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1948
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.42
    •  
PROPERTY LISTING DETAILS
Chase Muro
Re/max Estate Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21691212
Last Updated: 02/10/2021
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