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1138 W Alma Lane Hollywood, CA 90038

3 Beds 4 Baths 1,884 sqft Built 2020

$1,190,000

List Price

$4,570

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $631.63
  • 2 Days on Market
  • MLS # : 21678188
  • Updated Date : 01/09/2021 at 07:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 3 full , 1 half
Listing Agent

Strategic Sales And Marketing Group Inc

Listing Agent's Description

Quick Move-in special available! Be a part of the hottest new community, Sol Hollywood! These homes offer you an enviable location, sleek, modern design and a lock and leave lifestyle. This popular Plan 2 was recently released, offering three generous bedrooms, all with their own bath, one off the entry level. Two bay garage with direct access. Designed with open & bright living with luxury accents such as quartz countertops, and European metro-style cabinets included throughout the home and a large deck off the great room. Don't miss the amazing rooftop decks with approx. 686 sf of outdoor living and panoramic views of the Hollywood Hills! Lights. Camera. Live Hollywood! **Photos are of the models. **Virtual tour is of the model, not exact floorplan

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: Central Hollywood

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $187k1184k

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

Neighborhood: Central Hollywood

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $16034063

* 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
Gardner Street Elementary School Primary Regular 452 18 7
Gardner Street Elementary School Middle Regular 452 18 7
Hollywood Senior High School High Regular 1,552 67 6

Gardner Street Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 18
7
GreatSchools Rating

Gardner Street Elementary School

  • Education Level: Middle
  • # of students: 452
  • # of teachers: 18
7
GreatSchools Rating

Hollywood Senior High School

  • Education Level: High
  • # of students: 1,552
  • # of teachers: 67
6
GreatSchools Rating
 

$1,071,000$1,309,000$1,190,000

PURCHASE PRICE

$4,113$5,027$4,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,570
EXPENSES Loan Payment -$4,133
Property Tax -$1,363
Property Insurance -$72
HOA -$200
Property Management Fees -$224
CASH FLOW
-$1,422

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 8% of earned rent to cover both maintenance and periods of vacancy.

$1,190,000

PROJECTED PRICE

$4,570

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$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$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$317,350

INVESTMENT

$317,350

Down Payment
$297,500
Rehab Estimate
$2,000
Closing Costs
$17,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,133

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $297,500
Loan Amount $892,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$2,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,570

    LIST RENT
  • $2.43

    LIST RENT PER SQFT
  • $4,572

    COMP ESTIMATED VALUE
  • $2.43

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$4,5703$4,5954$4,600
$4,600
RENT COMPS ANALYSIS
  • 1138 W Alma Lane Hollywood, CA 2
    • 3 beds 4 baths ∙ 1,884 Sqft ∙ Built 2020 3 beds 4 baths ∙ 1,884 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,570
    • $2.43
    •  
  • 654 N Gramercy Place Los Angeles, CA 1
    • 3 beds 4 baths ∙ 1,763 Sqft ∙ Built 2014 3 beds 4 baths ∙ 1,763 Sqft ∙ Built 2014
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.21
    •  
  • 6226 Lexington Avenue Los Angeles, CA 3
    • 3 beds 4 baths ∙ 1,906 Sqft ∙ Built 2019 3 beds 4 baths ∙ 1,906 Sqft ∙ Built 2019
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $2.41
    •  
  • 718 N Croft Avenue Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.66
    •  
PROPERTY LISTING DETAILS
Janis K. Randazzo
Strategic Sales And Marketing Group Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21678188
Last Updated: 01/09/2021
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