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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $649.35
- 4 Days on Market
- MLS # : 21687304
- Updated Date : 02/12/2021 at 09:25
CONSTRUCTION
- Beds : 3
- Floor Size : 1,771 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Realty Westside
Listing Agent's Description
Peaceful and spacious rear-facing corner unit boasting 3 bedrooms, 2 and a half bathrooms, with an open kitchen to living room floor plan in the prime area of Mar Vista! Master bedroom gets tons of natural light with French doors that open to its balcony revealing a quiet neighborhood tree top view. Large master bathroom with a walk-in closet, bath tub, generous shower, and dual sinks. Gorgeous kitchen with granite countertops, lots of storage, and Viking appliances. This unit has high ceilings with crown molding, hardwood floors, travertine tiled bathrooms, in-unit laundry, and a working living room fireplace. 2 side by side parking spots in the gated community garage with storage space. Walking distance to Whole Foods, Ralphs, and plenty of restaurants and stores. Living room and 3 bedrooms are virtually staged.
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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: Westdale
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Westdale
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,350 |
| EXPENSES | Loan Payment | -$3,994 |
| Property Tax | -$1,158 | |
| Property Insurance | -$70 | |
| HOA | -$400 | |
| Property Management Fees | -$213 | |
|
CASH FLOW
-$1,485
|
||
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.
$1,150,000
PROJECTED PRICE
$4,350
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 8.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$310,500
LOAN DETAILS
$3,994
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $287,500 |
| Loan Amount | $862,500 |
0.33
YEARS SAVED
$833
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,350
LIST RENT -
$2.46
LIST RENT PER SQFT
-
$4,520
COMP ESTIMATED VALUE -
$2.55
COMP AVG. RENT PER SQFT
Comps Range
-
11440 National Boulevard Los Angeles, CA 3
- 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2007
![property image]()
- Rent
- Rent Per SQFT
- $4,350
- $2.46
-
3948 Bentley Avenue Culver City, CA 1
- 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1988
![property image]()
LEASED 07/28/20- Rent
- Rent Per SQFT
- $4,250
- $2.43
-
1726 S Bentley Avenue Los Angeles, CA 2
- 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2008
![property image]()
LEASED 10/15/19- Rent
- Rent Per SQFT
- $4,300
- $2.59
-
11440 National Boulevard Mar Vista, CA 4
- 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2007
![property image]()
LEASED 11/30/19- Rent
- Rent Per SQFT
- $4,600
- $2.54
-
2028 S Barrington Avenue Los Angeles, CA 5
- 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 1997
![property image]()
LEASED 08/05/20- Rent
- Rent Per SQFT
- $4,850
- $2.65
PROPERTY LISTING DETAILS
Keller Williams Realty Westside
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 21687304
Last Updated: 02/12/2021
