1306 W 48th St, Los Angeles, CA 90037
3 beds · 3 baths · 2,008 sqft
Please note: Drive-by only, and do not disturb tenants! Step into the vibrant heart of Los Angeles with this stunning, impeccably maintained home featuring a permitted Accessory Dwelling Unit (ADU). Here, modern elegance meets unparalleled comfort, creating the perfect blend of city living and a serene retreat. Nestled in the lively Vermont Square neighborhood, this property is conveniently located near several LAUSD schools, making it an ideal choice for families. Nearby schools include Menlo Avenue Elementary, Normandie Avenue Elementary, Lou Dantzler Preparatory Charter Middle School, and Manual Arts Senior High School. The home is also within walking distance from the Vermont Square Library and the Vermont Square Park. This property boasts a beautifully designed main house equipped with modern appliances and recent updates. It offers spacious living that is both stylish and functional - perfect for families seeking comfort. A true highlight of the property is the front yard, featuring a stunning butterfly garden that provides a peaceful outdoor retreat. For those interested in generating income, built in 2022 and fully permitted the 400 SF ADU presents an excellent opportunity. This separate unit ensures privacy and the potential for rental income, whether you choose to rent it out or use it as additional space for family or guests. It has a kitchen, a full bath, and new appliances, including a washer and dryer. The thoughtful design of the ADU complements the main house, ensuring a cohesive feel throughout the property. The spacious backyard is a beautiful setting, adorned with numerous fruit trees and a wonderful grassy area, making it an ideal place for relaxation and family gatherings. There is a new driveway for parking, and the front landscaping is drought-tolerant with a low-water irrigation system. Additionally, there is a spacious storage shed in the backyard. Strategically located near the University of Southern California (USC), this property is well-positioned to benefit from the area's ongoing growth, especially with the upcoming Olympic Games and FIFA World Cup, making it an attractive investment opportunity. The property can be delivered vacant upon close of escrow. Showings are available only with submitted offers. For inquiries, please contact Jake Malloy directly.
Source: CLAW #25513909
Financials
Source: CLAW #25513909
Source: Public records
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50%. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Other resourcesWhat is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
How can you find assumable mortgage listings?
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Get Notified” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
How do I qualify for an assumable mortgage?
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
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