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8844 Kittyhawk Avenue Westchester, CA 90045

3 Beds 2 Baths 1,433 sqft Built 1942

$1,150,000

List Price

$4,200

$4K - $4.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1942
  • Price/Sqft : $802.51
  • 3 Days on Market
  • MLS # : SB20239326
  • Updated Date : 11/14/2020 at 13:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,433 sqft
  • Baths : 2 full
Listing Agent

Richard L. Peterson, Broker

Listing Agent's Description

Country living in the city! Beautiful 2-story home on a huge corner lot with large front, back and side yards. Remodeled. 3 bdrm PLUS den/office. Upgraded kitchen with stainless steel appliances & Caesarstone counters. Huge master suite with sitting area, ceiling fans, recessed lighting, huge windows with beautiful views and attached bath. French doors from master suite open to Saltillo tiled balcony with city lights view. Wood burning fireplace in living room. Central heat & air. Laundry room. Soundproof doors. Triple-pane vinyl, double hung, soundproof windows throughout. Earthquake retrofitted. Copper plumbing. All new oversized garage finished with sheetrock walls, high ceilings, plenty of built-in storage cabinets, a black and white tile floor, 220v outlets (great for welding) and 1/4 bath. Plenty of storage space including 2 storage sheds in backyard. Private wood deck off front porch. Automatic sprinklers. Beautifully landscaped with lots of mature trees, bushes, plants, lawns, etc. Sensor lights around home. Entire property enclosed by fence. Extra wide red brick driveway and red brick path around house. House faces west and is on a hill, so you get wonderful cool ocean breezes all year long, but perfect warmth in the back and side yard. Incredible night view of the LAX Gateway kinetic light pylons from upstairs den/office. 3 miles to beach (just down Westchester Pkwy)! Home security system. Wonderful neighbors. Close to Otis College & Silicon Beach.

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
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,780$4,620$4,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,200
EXPENSES Loan Payment -$4,243
Property Tax -$1,160
Property Insurance -$61
Property Management Fees -$206
CASH FLOW
-$1,470

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.

$1,150,000

PROJECTED PRICE

$4,200

PROJECTED RENT

0.37%

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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,886

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,200

    LIST RENT
  • $2.93

    LIST RENT PER SQFT
  • $4,636

    COMP ESTIMATED VALUE
  • $3.24

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,2003$4,5004$4,5005$4,500
$4,500
RENT COMPS ANALYSIS
  • 8844 Kittyhawk Avenue Westchester, CA 2
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1942
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.93
    •  
  • 6101 Will Rogers Street Westchester, CA 1
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1942
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $3.32
    •  
  • 6531 W 84th Street Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1944
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.34
    •  
  • 6511 W 87th Place Los Angeles, CA 4
    • 4 beds 2 baths ∙ 1,358 Sqft ∙ Built 1944 4 beds 2 baths ∙ 1,358 Sqft ∙ Built 1944
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.31
    •  
  • 7814 Airport Boulevard Los Angeles, CA 5
    • 3 beds 1 baths ∙ 1,516 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,516 Sqft ∙ Built 1949
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.97
    •  
PROPERTY LISTING DETAILS
Richard Peterson
Richard L. Peterson, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20239326
Last Updated: 11/14/2020
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