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118 N Kings Road #304 Los Angeles, CA 90048

4 Beds 4 Baths 1,621 sqft Built 2013

$1,225,000

List Price

$4,650

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $755.71
  • 109 Days on Market
  • MLS # : 20637110
  • Updated Date : 10/02/2020 at 07:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,621 sqft
  • Baths : 4 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Now's Your Chance To Purchase A Very Rare, Stylish 4 Bedroom & 4 Bathroom Corner Unit - Perfect for Today's Live/Work Lifestyle! Centrally located in fashionable Beverly Grove / West Hollywood Adjacent neighborhood, close to Cedars Sinai, The Grove and noteworthy restaurants & designer retail stores, this condominium is a true Single Family Home Alternative! Single level condominium (measuring approx. 1,621SqFt) offers North & East exposure with No Shared Walls! Built in 2013, this condominium features Wide French White Oak Wood Flooring, Grohe Bath Fixtures, Italian Porcelain Tile, Wenge Wood Cabinets, GE Monogram Appliances and much, much more! Residents enjoy access to on-site Recreation Room & Sun Deck. Easy to Show - Contact Us Today to schedule Private Showing Appointment! Select photos have been virtually staged for marketing purposes.

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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: Beverly Grove

ZipNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $199k1634k

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

Neighborhood: Beverly Grove

ZipNIR Market*CityMarket2010Year2000 Q42019 Q220002500300035004000450050005500Rent in $17845949

* 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
Rosewood Avenue Elementary School Primary Regular 316 13 6
John Burroughs Middle School Middle Regular 1,849 66 6
Fairfax Senior High School High Regular 2,101 83 6

Rosewood Avenue Elementary School

  • Education Level: Primary
  • # of students: 316
  • # of teachers: 13
6
GreatSchools Rating

John Burroughs Middle School

  • Education Level: Middle
  • # of students: 1,849
  • # of teachers: 66
6
GreatSchools Rating

Fairfax Senior High School

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

$1,102,500$1,347,500$1,225,000

PURCHASE PRICE

$4,185$5,115$4,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,650
EXPENSES Loan Payment -$4,255
Property Tax -$1,234
Property Insurance -$66
HOA -$420
Property Management Fees -$228
CASH FLOW
-$1,552

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.

$1,225,000

PROJECTED PRICE

$4,650

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.6%
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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$330,375

INVESTMENT

$330,375

Down Payment
$306,250
Rehab Estimate
$5,750
Closing Costs
$18,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,255

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $306,250
Loan Amount $918,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,169

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,650

    LIST RENT
  • $2.87

    LIST RENT PER SQFT
  • $4,571

    COMP ESTIMATED VALUE
  • $2.82

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,6503$4,8004$4,9005$4,950
$4,950
RENT COMPS ANALYSIS
  • 118 N Kings Road Los Angeles, CA 2
    • 4 beds 4 baths ∙ 1,621 Sqft ∙ Built 2013 4 beds 4 baths ∙ 1,621 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $4,650
    • $2.87
    •  
  • 938 S Orange Grove Avenue Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2015
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.72
    •  
  • 357 N Hayworth Avenue Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2007
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.96
    •  
  • 1248 N Laurel West Hollywood, CA 4
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $2.88
    •  
  • 118 S Clark Drive West Hollywood, CA 5
    • 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2004
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $2.72
    •  
PROPERTY LISTING DETAILS
Joel Cooper
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20637110
Last Updated: 10/02/2020
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