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8946 La Salle Avenue Los Angeles, CA 90047

3 Beds 2 Baths 1,442 sqft Built 1937

$729,900

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1937
  • Price/Sqft : $506.17
  • 7 Days on Market
  • MLS # : PW21003234
  • Updated Date : 01/11/2021 at 16:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,442 sqft
  • Baths : 2 full
Listing Agent

Sundae Homes

Listing Agent's Description

Gorgeous single story home in Los Angeles for sale! This 3 bedroom, 2 bathroom home has tons of amazing new and chic features. Step through the front door into a light airy living room, complete with premium wood flooring, big windows, a cozy fireplace and freshly painted walls that lite up with our beautiful Southern California sunshine!! The kitchen is a dream for someone who appreciates a classic modern design - the white shaker cabinets make this kitchen POP! This space is complete with new countertops, stainless steel appliances, a large basin sink, touches of gold hardware and more! The sleek flooring flows into the freshly painted bedrooms. The bathrooms have been totally renovated with new chic vanities, mirrors, modern tile flooring and more! The backyard is a wonderful place for outdoor dining, lounging and outdoor activities. Simply, the perfect home for hosting those warm California summer day bar-b-ques! This home gives us all the feels - cozy, clean, classic, and charming! Located near dining, parks, schools, freeways, LAX, and more! Don't miss this - come see it today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Gramercy Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $146k725k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Gramercy Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183316

* 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
La Salle Avenue Elementary School Primary Regular 439 19 1
Horace Mann Middle School Middle Regular 425 19 NA
George Washington Preparatory Senior High School High Regular 1,175 64 2

La Salle Avenue Elementary School

  • Education Level: Primary
  • # of students: 439
  • # of teachers: 19
1
GreatSchools Rating

Horace Mann Middle School

  • Education Level: Middle
  • # of students: 425
  • # of teachers: 19
NA
GreatSchools Rating

George Washington Preparatory Senior High School

  • Education Level: High
  • # of students: 1,175
  • # of teachers: 64
2
GreatSchools Rating
 

$656,910$802,890$729,900

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,535
Property Tax -$768
Property Insurance -$62
Property Management Fees -$137
CASH FLOW
-$703

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$729,900

PROJECTED PRICE

$2,800

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$199,174

INVESTMENT

$199,174

Down Payment
$182,475
Rehab Estimate
$5,750
Closing Costs
$10,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,535

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,475
Loan Amount $547,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $1.94

    LIST RENT PER SQFT
  • $3,118

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0303$3,1004$3,2005$3,600
$3,600
RENT COMPS ANALYSIS
  • 8946 La Salle Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1937
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.94
    •  
  • 1265 W 82nd Street Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,525 Sqft ∙ Built 1936 3 beds 1 baths ∙ 1,525 Sqft ∙ Built 1936
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $1.99
    •  
  • 1030 W 92nd Street Los Angeles, CA 3
    • 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1929 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1929
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.36
    •  
  • 2116 W 93rd Street Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1941
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.07
    •  
  • 10211 S St Andrews Place Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1940
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.23
    •  
PROPERTY LISTING DETAILS
Ben Ryan
Sundae Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21003234
Last Updated: 01/11/2021
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