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11908 Darlington Avenue #304 Los Angeles, CA 90049

3 Beds 3 Baths 1,947 sqft Built 2003

$1,339,000

List Price

$5,020

$4.8K - $5.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $687.72
  • 4 Days on Market
  • MLS # : 21694174
  • Updated Date : 02/18/2021 at 14:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,947 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices California

Listing Agent's Description

Crisp & clean 3+2.5 Condo just under 2,000 square feet in the heart of Brentwood. This wonderfully designed unit features a gourmet eat in kitchen with stainless steel appliances, double oven, granite countertops and travertine floors. The spacious living room and dining area features wood floors, wet bar, fireplace, crown moldings, plantation shutters and sunny large balcony. The large master bedroom suite includes a fireplace, private balcony, walk-in closet and linen closet. Master bath offers double sinks with soaker tub and large shower. There are two good size, very bright guest bedrooms with custom closets and a shared bath. The unit also includes a convenient side by side laundry set up, 2 dedicated underground parking spaces with 8 guest spaces for the complex plus, a 4x4 storage cage. HOA includes earthquake insurance & water. Ideal Westside location being a short distance to San Vicente, markets, cafes, restaurants & coveted Brentwood Farmers market.

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MARKET HIGHLIGHTS

  • 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)
  • 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)
  • 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]
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)

PRICE & RENT TRENDS

Neighborhood: Brentwood

NeighborhoodNIR Market*CityMarket2010Year20002019200k400k600k800k1000k1200k1400k1600k1800k2000k2200kPrice in $199k2272k

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

Neighborhood: Brentwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q22000300040005000600070008000900010000Rent in $178410209

* 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
Brentwood Elementary Science Magnet School Primary Magnet 985 39 4
Paul Revere Charter Middle School Middle Charter 2,073 77 8
University Senior High School High Regular 1,763 72 7

Brentwood Elementary Science Magnet School

  • Education Level: Primary
  • # of students: 985
  • # of teachers: 39
4
GreatSchools Rating

Paul Revere Charter Middle School

  • Education Level: Middle
  • # of students: 2,073
  • # of teachers: 77
8
GreatSchools Rating

University Senior High School

  • Education Level: High
  • # of students: 1,763
  • # of teachers: 72
7
GreatSchools Rating
 

$1,205,100$1,472,900$1,339,000

PURCHASE PRICE

$4,518$5,522$5,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,020
EXPENSES Loan Payment -$4,651
Property Tax -$1,376
Property Insurance -$74
HOA -$600
Property Management Fees -$246
CASH FLOW
-$1,927

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.

$1,339,000

PROJECTED PRICE

$5,020

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.65%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.10%
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$360,585

INVESTMENT

$360,585

Down Payment
$334,750
Rehab Estimate
$5,750
Closing Costs
$20,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,651

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $334,750
Loan Amount $1,004,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$228

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,020

    LIST RENT
  • $2.58

    LIST RENT PER SQFT
  • $5,023

    COMP ESTIMATED VALUE
  • $2.58

    COMP AVG. RENT PER SQFT
Comps Range
$4,850
1$4,8502$4,8953$4,9504$4,9955$5,020
$5,020
RENT COMPS ANALYSIS
  • 11908 Darlington Avenue Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $5,020
    • $2.58
    •  
  • 11840 Dorothy Street Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2001
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,850
    • $2.49
    •  
  • 11911 Mayfield Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2006
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,895
    • $2.71
    •  
  • 11737 Darlington Avenue Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 1988
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $2.53
    •  
  • 11908 Darlington Avenue Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 2003
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $2.59
    •  
PROPERTY LISTING DETAILS
Dan Nessel
Berkshire Hathaway Homeservices California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21694174
Last Updated: 02/18/2021
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