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1203 N Garbo Lane Los Angeles, CA 90038

3 Beds 4 Baths 2,100 sqft Built 2013

$1,399,000

List Price

$6,180

$5.9K - $6.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $666.19
  • 5 Days on Market
  • MLS # : 21703586
  • Updated Date : 03/11/2021 at 11:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,100 sqft
  • Baths : 3 full , 1 half
Listing Agent

Hilton & Hyland

Listing Agent's Description

Welcome to 1203 N Garbo Ln, a hip and stylish architectural showpiece offering luxe New York living in the heart of prime Hollywood. The striking interior boasts open, dramatic living spaces; magnificent floor to ceiling windows allowing for ample natural light; first floor bedroom doubling as a professional level music studio; spacious chef's kitchen; and a third floor primary suite with access to a private balcony, spa-like bathroom with dual vanities, and walk-in closet. There are five outdoor areas, including an approximate 570 sqft roof-top terrace perfect for entertaining with stunning views, lounge spaces, wet-bar, and mounted TV. Tech features include a state-of-the-art Savant smart home system, integrated security cameras and audio system, and automatic shades. Close to many local hot spots. Not one to be missed!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]
  • 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)
  • 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
 

$1,259,100$1,538,900$1,399,000

PURCHASE PRICE

$5,562$6,798$6,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,180
EXPENSES Loan Payment -$4,859
Property Tax -$1,409
Property Insurance -$77
HOA -$280
Property Management Fees -$303
CASH FLOW
-$748

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.

$1,399,000

PROJECTED PRICE

$6,180

PROJECTED RENT

0.44%

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$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$376,485

INVESTMENT

$376,485

Down Payment
$349,750
Rehab Estimate
$5,750
Closing Costs
$20,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,859

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $349,750
Loan Amount $1,049,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$42,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $6,180

    LIST RENT
  • $2.94

    LIST RENT PER SQFT
  • $4,620

    COMP ESTIMATED VALUE
  • $2.2

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$4,5953$4,9004$6,180
$6,180
RENT COMPS ANALYSIS
  • 1203 N Garbo Lane Los Angeles, CA 4
    • 3 beds 4 baths ∙ 2,100 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,100 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $6,180
    • $2.94
    •  
  • 5057 Maplewood Avenue Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2008
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.10
    •  
  • 6226 Lexington Avenue Los Angeles, CA 2
    • 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
    •  
  • 826 N Mccadden Place Los Angeles, CA 3
    • 4 beds 4 baths ∙ 2,344 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,344 Sqft ∙ Built 2011
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $2.09
    •  
PROPERTY LISTING DETAILS
David Kramer
Hilton & Hyland
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21703586
Last Updated: 03/11/2021
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