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1135 Rexford Drive #306 Los Angeles, CA 90035

3 Beds 2 Baths 1,610 sqft Built 2005

$1,100,000

List Price

$3,980

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $683.23
  • 80 Days on Market
  • MLS # : 20659490
  • Updated Date : 02/04/2021 at 14:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,610 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Very special and spacious upper level condo in prime Beverly Hills adjacent location. Well maintained controlled access building with a secured garage for parking. The floor plan has an amazing flow and each room has French doors out to private balconies (4 balconies total). Freshly painted in very neutral colors and new carpeting in the bedrooms. Excellent location next to Beverly Hill shops, Century City, and more.

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: South Robertson

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $199k1399k

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

Neighborhood: South Robertson

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q220002500300035004000450050005500Rent in $17845975

* 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
Canfield Avenue Elementary School Primary Regular 374 16 9
Palms Middle School Middle Regular 1,486 56 7
Alexander Hamilton Senior High School High Magnet 2,941 121 6

Canfield Avenue Elementary School

  • Education Level: Primary
  • # of students: 374
  • # of teachers: 16
9
GreatSchools Rating

Palms Middle School

  • Education Level: Middle
  • # of students: 1,486
  • # of teachers: 56
7
GreatSchools Rating

Alexander Hamilton Senior High School

  • Education Level: High
  • # of students: 2,941
  • # of teachers: 121
6
GreatSchools Rating
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,582$4,378$3,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,980
EXPENSES Loan Payment -$3,821
Property Tax -$1,108
Property Insurance -$66
HOA -$450
Property Management Fees -$195
CASH FLOW
-$1,659

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.

$1,100,000

PROJECTED PRICE

$3,980

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.8%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$100

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,980

    LIST RENT
  • $2.47

    LIST RENT PER SQFT
  • $4,327

    COMP ESTIMATED VALUE
  • $2.69

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,9803$4,2504$4,5005$4,700
$4,700
RENT COMPS ANALYSIS
  • 1135 Rexford Drive Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,980
    • $2.47
    •  
  • 1537 S Wooster Street Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,325 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,325 Sqft ∙ Built 1993
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.64
    •  
  • 9049 Alcott Street Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2008
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.63
    •  
  • 9323 Alcott Street Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,597 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,597 Sqft ∙ Built 1990
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.82
    •  
  • 927 S Wooster Street Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 2011
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $2.66
    •  
PROPERTY LISTING DETAILS
Jeff Brandolino
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20659490
Last Updated: 02/04/2021
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