Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

123 S Clark Drive #301 West Hollywood, CA 90048

3 Beds 3 Baths 1,610 sqft Built 2004

$1,149,000

List Price

$4,950

$4.7K - $5.2K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $713.66
  • 7 Days on Market
  • MLS # : 20664654
  • Updated Date : 12/02/2020 at 10:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,610 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Beverly Hills

Listing Agent's Description

Single level, front facing, corner unit offers 3 bedrooms, 2.5 baths, in just over 1,600sf. Open floor plan, large chefs kitchen with top of the line Viking appliances opens to the spacious dining area. The sun filled living room is complemented by a cozy fireplace and balconies with beautiful views. Huge master bedroom with fireplace, large walk-in closet, balcony and spa-like bath. Two additional generous sized bedrooms, one with its own private balcony and both with great closet space. Second bathroom and the additional powder room offer great finishes. Laundry closet inside, wine cooler and LED lights are some of the additional features this unit provides. Newer 14-unit, controlled access building with low HOA dues. Centrally located to some of the best shopping and restaurants Beverly Hills and West Hollywood has to offer. Secured parking with several guest parking spaces. Truly a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

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
 

$1,034,100$1,263,900$1,149,000

PURCHASE PRICE

$4,455$5,445$4,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,950
EXPENSES Loan Payment -$4,239
Property Tax -$1,137
Property Insurance -$66
HOA -$475
Property Management Fees -$243
CASH FLOW
-$1,210

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.

$1,149,000

PROJECTED PRICE

$4,950

PROJECTED RENT

0.43%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,235

INVESTMENT

$310,235

Down Payment
$287,250
Rehab Estimate
$5,750
Closing Costs
$17,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,239

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,250
Loan Amount $861,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$9,092

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,950

    LIST RENT
  • $3.07

    LIST RENT PER SQFT
  • $4,371

    COMP ESTIMATED VALUE
  • $2.72

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$4,2003$4,6004$4,9505$4,950
$4,950
RENT COMPS ANALYSIS
  • 123 S Clark Drive West Hollywood, CA 5
    • 3 beds 3 baths ∙ 1,610 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,610 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $3.07
    •  
  • 118 N Kings Road Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 2013
    property image
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.76
    •  
  • 938 S Orange Grove Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2015
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.72
    •  
  • 718 N Croft Avenue Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.66
    •  
  • 118 S Clark Drive West Hollywood, CA 4
    • 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2004
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $2.72
    •  
PROPERTY LISTING DETAILS
Dafna Milstein
Keller Williams Beverly Hills
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20664654
Last Updated: 12/02/2020
BESbswy