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1201 N Garbo Lane Los Angeles, CA 90038

3 Beds 4 Baths 1,819 sqft Built 2013

$1,239,000

List Price

$5,750

$5.5K - $6K

Rent Est.

$334,085

Investment Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $681.14
  • 7 Days on Market
  • MLS # : 21695722
  • Updated Date : 02/27/2021 at 14:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,819 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty Los Feliz

Listing Agent's Description

A must see Modern Masterpiece! This recently built and fully customized freestanding single family home exudes timeless luxury and is like NOTHING else on the market. Impeccable floating wood stairs take you to four levels of quality craftmanship in this 3BD (en-suite), 3.5 bath home, showcasing a private entertainers roof deck with a full kitchen. Featuring a 95 walk score "walker's paradise" and located steps from shops, dining and entertainment. Drive into your attached private two car garage w/upgraded closets and storage; or enter through the private front door patio entrance. Cook's kitchen with eat-in island and soft close Italian cabinets flow seamlessly to the dining & living room w/soaring ceilings. Primary retreat with indulgent master bath boasts dual head showers, stone floors and bamboo tile creating your own personal spa. The final staircase leads you to another world. This oversized private oasis features a Pebble Tech roof deck, an outdoor stainless steel kitchen with built in gas BBQ, fridge, dishwasher, storage, and wet bar - perfect for dining al fresco and taking in the city views, including the Hollywood sign. The roof deck is NOT included in the square footage and also features a large storage closet, mature trees, TV and Tesla solar panels. This striking "eco friendly" masterpiece is ready for the most discerning buyer.

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MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Central Hollywood

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $187k1184k

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

Neighborhood: Central Hollywood

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $16034063

* 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
Hubert Howe Bancroft Middle School Middle Regular 834 33 3
Hollywood Senior High School High Regular 1,552 67 6

Hubert Howe Bancroft Middle School

  • Education Level: Middle
  • # of students: 834
  • # of teachers: 33
3
GreatSchools Rating

Hollywood Senior High School

  • Education Level: High
  • # of students: 1,552
  • # of teachers: 67
6
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$1,115,100$1,362,900$1,239,000

PURCHASE PRICE

$5,175$6,325$5,750

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,750
EXPENSES Loan Payment -$4,304
Property Tax -$1,294
Property Insurance -$71
HOA -$299
Property Management Fees -$282
CASH FLOW
-$499

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.

$1,239,000

PROJECTED PRICE

$5,750

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$10k$0.0$10k$20k$30k$40k

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$334,085

INVESTMENT

$334,085

Down Payment		 $309,750
Rehab Estimate		 $5,750
Closing Costs		 $18,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$4,304

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $309,750
Loan Amount $929,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$49,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,750

    LIST RENT

  • $3.16

    LIST RENT PER SQFT

  • $4,288

    COMP ESTIMATED VALUE

  • $2.36

    COMP AVG. RENT PER SQFT
Comps Range
$3,895
1$3,8952$4,0003$4,1954$4,5955$5,750
$5,750
RENT COMPS ANALYSIS
  • 1201 N Garbo Lane Los Angeles, CA 5
    • 3 beds 4 baths ∙ 1,819 Sqft ∙ Built 2013 3 beds 4 baths ∙ 1,819 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,750
    • $3.16
    •  
  • 727 Wilcox Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2017
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,895
    • $2.10
    •  
  • 6032 Romaine Street Los Angeles, CA 2
    • 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 2019
    property image
    LEASED 01/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.35
    •  
  • 357 N Hayworth Avenue Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2007
    property image
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,195
    • $2.57
    •  
  • 6226 Lexington Avenue Los Angeles, CA 4
    • 3 beds 4 baths ∙ 1,906 Sqft ∙ Built 2019 3 beds 4 baths ∙ 1,906 Sqft ∙ Built 2019
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $2.41
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Grant Linscott
Keller Williams Realty Los Feliz
BUYER AGENT
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
SOURCE
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21695722
Last Updated: 02/27/2021

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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