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1027 N Genesee Avenue #3 West Hollywood, CA 90046

3 Beds 4 Baths 1,850 sqft Built 1982

$999,999

List Price

$4,390

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $540.54
  • 7 Days on Market
  • MLS # : P1-2760
  • Updated Date : 01/07/2021 at 13:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,850 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Hallmark Realty

Listing Agent's Description

This delightful impeccably renovated town home is located in prime neighborhoods of the Jewel City. Built in 1982, this unit offers open floor plan with hardwood flooring, custom kitchen cabinets, granite counter tops and Italian custom built tile back flash, under the cabinets have extra light fixtures that is very chic, inviting eating area in the kitchen and recessed lighting. With almost 1850 SQFT of living space with 3 bedroom, 3 and half bathroom. Huge family room offers a gas fireplace creating a pleasant space for your enjoyment & high ceilings. Massive private rooftop deck has amazing 360 degrees Hills & City views and its perfect for entertaining and dining. All bedrooms have their own bathrooms. Very central West Hollywood location.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Nair Place

ZipNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $187k1395k

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

Neighborhood: Nair Place

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500500055006000650070007500Rent in $16357971

* 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
Laurel Elementary School Primary Regular 341 16 4
Laurel Elementary School Middle Regular 341 16 4
Fairfax Senior High School High Regular 2,101 83 6

Laurel Elementary School

  • Education Level: Primary
  • # of students: 341
  • # of teachers: 16
4
GreatSchools Rating

Laurel Elementary School

  • Education Level: Middle
  • # of students: 341
  • # of teachers: 16
4
GreatSchools Rating

Fairfax Senior High School

  • Education Level: High
  • # of students: 2,101
  • # of teachers: 83
6
GreatSchools Rating
 

$899,999$1,099,999$999,999

PURCHASE PRICE

$3,951$4,829$4,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,390
EXPENSES Loan Payment -$3,473
Property Tax -$1,037
Property Insurance -$71
HOA -$415
Property Management Fees -$215
CASH FLOW
-$822

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.

$999,999

PROJECTED PRICE

$4,390

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 13.6%
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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$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$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,750

INVESTMENT

$270,750

Down Payment
$250,000
Rehab Estimate
$5,750
Closing Costs
$15,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $250,000
Loan Amount $749,999
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$12,510

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,390

    LIST RENT
  • $2.37

    LIST RENT PER SQFT
  • $4,884

    COMP ESTIMATED VALUE
  • $2.64

    COMP AVG. RENT PER SQFT
Comps Range
$4,390
1$4,3902$4,500
$4,500
RENT COMPS ANALYSIS
  • 1027 N Genesee Avenue West Hollywood, CA 1
    • 3 beds 4 baths ∙ 1,850 Sqft ∙ Built 1982 3 beds 4 baths ∙ 1,850 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,390
    • $2.37
    •  
  • 7218 Hillside Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1991
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.64
    •  
PROPERTY LISTING DETAILS
Hermine Temurian
Coldwell Banker Hallmark Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2760
Last Updated: 01/07/2021
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