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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Gramercy Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$199,174
LOAN DETAILS
$2,535
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $182,475 |
| Loan Amount | $547,425 |
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
-
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
Sundae Homes
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21003234
Last Updated: 01/11/2021
