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120 N Doheny Drive #202 West Hollywood, CA 90048

3 Beds 2 Baths 1,943 sqft Built 1980

$1,095,000

List Price

$4,530

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $563.56
  • 6 Days on Market
  • MLS # : 20658148
  • Updated Date : 11/10/2020 at 14:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,943 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Sophisticated condominium in a desirable location close to a variety of shops adjacent to Beverly Hills. This spacious 3 bedroom + 2 bath featuring beautiful hardwood floors, high ceilings with crown molding, and recessed lighting. This condo includes a formal dining room and living room with a marble fireplace and a wet bar which opens up to an inviting balcony/patio surrounded by lush greenery. The kitchen has been updated with custom cabinetry, tile floors, granite countertops, breakfast area, and built-in appliances. The Master bedroom has a huge walk-in closet with custom built-in shelves. The Master bath has dual sinks, a bidet, step in a spa tub with a separate customized walk-in shower. Laundry area in unit with washer & dryer and ample storage/closets. Building amenities include secure entry, pool, recreation room, sauna, storage room, and 2 tandem parking spaces.

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: 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 Q2200025003000350040004500500055006000650070007500Rent in $17847971

* 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
 

$985,500$1,204,500$1,095,000

PURCHASE PRICE

$4,077$4,983$4,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,530
EXPENSES Loan Payment -$4,040
Property Tax -$1,084
Property Insurance -$74
HOA -$550
Property Management Fees -$222
CASH FLOW
-$1,439

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.

$1,095,000

PROJECTED PRICE

$4,530

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$295,925

INVESTMENT

$295,925

Down Payment
$273,750
Rehab Estimate
$5,750
Closing Costs
$16,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,040

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $273,750
Loan Amount $821,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,530

    LIST RENT
  • $2.33

    LIST RENT PER SQFT
  • $4,527

    COMP ESTIMATED VALUE
  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$4,300
1$4,3002$4,5303$4,750
$4,750
RENT COMPS ANALYSIS
  • 120 N Doheny Drive West Hollywood, CA 2
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $4,530
    • $2.33
    •  
  • 1223 Roxbury Drive Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,994 Sqft ∙ Built 1974
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.16
    •  
  • 8963 Burton Way Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1969
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.50
    •  
PROPERTY LISTING DETAILS
Ari Afshar
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20658148
Last Updated: 11/10/2020
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