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931 Isabel Street Los Angeles, CA 90065

4 Beds 2 Baths 2,028 sqft Built 1924

$849,000

List Price

$3,440

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1924
  • Price/Sqft : $418.64
  • 2 Days on Market
  • MLS # : 20664526
  • Updated Date : 11/28/2020 at 13:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,028 sqft
  • Baths : 2 full
Listing Agent

Foster Douglas

Listing Agent's Description

This spacious and charming 1924 California Bungalow sits on an elevated corner lot, surrounded by mature foliage, in a quiet neighborhood of the super hot east side haven of Mt Washington. A large 1 bedroom/1 bath garden apartment with its own entrance sits at the basement level, with a spacious 3 bedroom/1 bath home above. Decks and patios in the rear offer privacy and outdoor living for the main house, while the garden unit opens onto the lushly landscaped front yard. An exceptional opportunity for an investor seeking rental income (the fantastic tenants currently living in the main house would love to stay and the garden unit is available to rent at market rent) or for an owner user who desires a lot of space and privacy!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mount Washington

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $187k818k

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

Neighborhood: Mount Washington

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $16353845

* 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
Aragon Avenue Elementary School Primary Regular 373 18 1
Florence Nightingale Middle School Middle Regular 716 41 4
Puc Early College Academy For Leaders And Scholars High Charter 446 20 6

Aragon Avenue Elementary School

  • Education Level: Primary
  • # of students: 373
  • # of teachers: 18
1
GreatSchools Rating

Florence Nightingale Middle School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 41
4
GreatSchools Rating

Puc Early College Academy For Leaders And Scholars

  • Education Level: High
  • # of students: 446
  • # of teachers: 20
6
GreatSchools Rating
 

$764,100$933,900$849,000

PURCHASE PRICE

$3,096$3,784$3,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$3,132
Property Tax -$882
Property Insurance -$76
Property Management Fees -$169
CASH FLOW
-$819

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.

$849,000

PROJECTED PRICE

$3,440

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,132

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$10,798

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,440

    LIST RENT
  • $1.7

    LIST RENT PER SQFT
  • $3,461

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0003$3,4404$3,800
$3,800
RENT COMPS ANALYSIS
  • 931 Isabel Street Los Angeles, CA 3
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 1924 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 1924
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,440
    • $1.70
    •  
  • 3026 Division Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 1922
    property image
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.49
    •  
  • 2641 Merced Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1910 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1910
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
  • 4909 Baltimore Street Highland Park, CA 4
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1922 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1922
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.89
    •  
PROPERTY LISTING DETAILS
Julie Leverence
Foster Douglas
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20664526
Last Updated: 11/28/2020
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