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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Beverly Grove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$295,925
LOAN DETAILS
$4,040
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $273,750 |
| Loan Amount | $821,250 |
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
-
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
Compass
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 20658148
Last Updated: 11/10/2020
