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12107 Ocean Park Boulevard Los Angeles, CA 90064

3 Beds 4 Baths 1,703 sqft Built 2016

$1,249,000

List Price

$4,430

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $733.41
  • 7 Days on Market
  • MLS # : SR21006786
  • Updated Date : 01/21/2021 at 17:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,703 sqft
  • Baths : 3 full , 1 half
Listing Agent

Rodeo Realty

Listing Agent's Description

New year and new opportunity to live in this beautiful single family home built in 2016 located at the threshold of Santa Monica. Immaculately maintained and designed ahead of its time, clean lines of contemporary living are reimagined by unparalleled scale & functionality. High-end finishes and meticulous attention to detail, highlight this striking 3 Bed + 3.5 Bath layout, offering fine quality throughout 1,700+ Sq Ft of living space. Open floorplan exudes effortless connection of living, kitchen, and dining; accentuated by chic concrete floors. Showcasing refined architecture, 2-story floor to ceiling windows, paired with top of the line Fleetwood sliding glass doors, create a seamless indoor outdoor flow; immersing the home w/ natural light. Custom built patio, sets this home apart from the rest for an enhanced living experience. Gourmet kitchen features SS Bosch appliances, ample self-closing drawers & cabinets, endless Quartz countertops w/ waterfall edge and breakfast bar. Spacious en-suite bedrooms; located upstairs. Master suite offers walk-in closet, luxurious bathroom w/ dual vanities, walk-in shower, and oversized soaking tub. Additional features include: Individual laundry room, 2 car tandem parking space includes an electric charger outlet, separate back entrance to the house, Wired for sound and security, Tri-zone controlled A/C, synthetic turf added in 2019, and much more.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: North Westdale

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200kPrice in $199k1220k

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

Neighborhood: North Westdale

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844571

* 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
Richland Avenue Elementary School Primary Regular 223 11 8
Richland Avenue Elementary School Middle Regular 223 11 8
University Senior High School High Regular 1,763 72 7

Richland Avenue Elementary School

  • Education Level: Primary
  • # of students: 223
  • # of teachers: 11
8
GreatSchools Rating

Richland Avenue Elementary School

  • Education Level: Middle
  • # of students: 223
  • # of teachers: 11
8
GreatSchools Rating

University Senior High School

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

$1,124,100$1,373,900$1,249,000

PURCHASE PRICE

$3,987$4,873$4,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,430
EXPENSES Loan Payment -$4,338
Property Tax -$1,258
Property Insurance -$68
Property Management Fees -$217
CASH FLOW
-$1,451

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.

$1,249,000

PROJECTED PRICE

$4,430

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 9.2%
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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

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$336,735

INVESTMENT

$336,735

Down Payment
$312,250
Rehab Estimate
$5,750
Closing Costs
$18,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,338

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $312,250
Loan Amount $936,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,320

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,430

    LIST RENT
  • $2.6

    LIST RENT PER SQFT
  • $4,411

    COMP ESTIMATED VALUE
  • $2.59

    COMP AVG. RENT PER SQFT
Comps Range
$4,300
1$4,3002$4,4303$4,5004$4,6005$4,850
$4,850
RENT COMPS ANALYSIS
  • 12107 Ocean Park Boulevard Los Angeles, CA 2
    • 3 beds 4 baths ∙ 1,703 Sqft ∙ Built 2016 3 beds 4 baths ∙ 1,703 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $4,430
    • $2.60
    •  
  • 1726 S Bentley Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2008
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.59
    •  
  • 1522 Amherst Avenue Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2005
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.58
    •  
  • 11440 National Boulevard Mar Vista, CA 4
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2007
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.54
    •  
  • 2028 S Barrington Avenue Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 1997
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,850
    • $2.65
    •  
PROPERTY LISTING DETAILS
Michael Chez
Rodeo Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21006786
Last Updated: 01/21/2021
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