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100 S Alameda Street #123 Los Angeles, CA 90012

3 Beds 1 Baths 1,213 sqft Built 2005

$668,880

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $551.43
  • 96 Days on Market
  • MLS # : PW20216739
  • Updated Date : 01/13/2021 at 20:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,213 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Best Realty

Listing Agent's Description

DRASTIC RECUCED THE PRICE, Very Rare 3 bedroom, 2 bathroom, Quite location, no traffic noisy, open floor plan, Master bedroom with walk in closet and in suite bathroom, modern kitchen w/ island & upgraded granite countertops, in-unit washer & dryer, new laminate floors, central air/heat, Spacious balcony with storage room. and 2 parking spaces, private balcony. Savoy community offers incredible resort-style amenities like private courtyards, pool, spa, fitness center, business center, sports café, screening room, rooftop deck w/ views of Downtown LA skyline, conference room, dog walking area, gated subterranean garage w/ guest parking and 24hr attended lobby. Experience unique dining, entertainment and shopping experience in the burgeoning Arts District and Little Tokyo, all within easy access to other diverse neighborhoods in DTLA. You don't need to use elevators or stairs when you take a walk and walk your dogs too, This first floor home is tucked away from the main Alameda St.

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: Arts District

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Arts District

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2140016001800200022002400260028003000320034003600Rent in $13683782

* 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
Utah Street Elementary School Primary Regular 489 23 3
Utah Street Elementary School Middle Regular 489 23 3
Felicitas And Gonzalo Mendez High School High Regular 792 37 3

Utah Street Elementary School

  • Education Level: Primary
  • # of students: 489
  • # of teachers: 23
3
GreatSchools Rating

Utah Street Elementary School

  • Education Level: Middle
  • # of students: 489
  • # of teachers: 23
3
GreatSchools Rating

Felicitas And Gonzalo Mendez High School

  • Education Level: High
  • # of students: 792
  • # of teachers: 37
3
GreatSchools Rating
 

$601,992$735,768$668,880

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$2,323
Property Tax -$697
Property Insurance -$56
HOA -$546
Property Management Fees -$142
CASH FLOW
-$864

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.

$668,880

PROJECTED PRICE

$2,900

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 11.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

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$183,003

INVESTMENT

$183,003

Down Payment
$167,220
Rehab Estimate
$5,750
Closing Costs
$10,033

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,323

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,220
Loan Amount $501,660
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$316

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $3,754

    COMP ESTIMATED VALUE
  • $3.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,2503$4,000
$4,000
RENT COMPS ANALYSIS
  • 100 S Alameda Street Los Angeles, CA 1
    • 3 beds 1 baths ∙ 1,213 Sqft ∙ Built 2005 3 beds 1 baths ∙ 1,213 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.39
    •  
  • 100 S Alameda Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,213 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,213 Sqft ∙ Built 2005
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.68
    •  
  • 1136 W Edgeware Road Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1987
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $3.51
    •  
PROPERTY LISTING DETAILS
Christina Kwon
Coldwell Banker Best Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20216739
Last Updated: 01/13/2021
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