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1271 Federal Avenue #301 Los Angeles, CA 90025

3 Beds 3 Baths 1,900 sqft Built 2006

$988,000

List Price

$4,750

$4.5K - $5K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $520.00
  • 6 Days on Market
  • MLS # : 21688584
  • Updated Date : 02/03/2021 at 10:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,900 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Tremendous Opportunity to Move in to a Penthouse Condo just a block away from Brentwood at an Incredible Price! Brentwood Gates Condominium is an intimate 6 unit Modern Mediterranean built in 2006. Only 2 homes on each floor running from the front to the rear of the building. East facing unit has beautiful city views & a pvt balcony. Only one common wall & rear entry. Spacious & open living spaces, hi ceilings and FP. Gourmet kitchen w/granite countertops & breakfast bar. Sophisticated cabinet finishes & top of the line S/S appliances. Inside laundry & central air/heat with Nest thermostat. Generously proportioned bedrooms. Expansive en-suite master bedroom w/ sitting area & huge walk in closet. Luxurious master bath w/dual sinks, separate tub & shower. Controlled access w/2 car security parking & guest spots. This wonderful condo building is located half a block South of Wilshire Blvd w/ a rooftop deck & rec rm. Property has been partially staged.

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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: Westgate

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k913k

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

Neighborhood: Westgate

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844491

* 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
Brockton Avenue Elementary School Primary Regular 222 12 4
Emerson Community Charter School Middle Regular 533 23 5
University Senior High School High Regular 1,763 72 7

Brockton Avenue Elementary School

  • Education Level: Primary
  • # of students: 222
  • # of teachers: 12
4
GreatSchools Rating

Emerson Community Charter School

  • Education Level: Middle
  • # of students: 533
  • # of teachers: 23
5
GreatSchools Rating

University Senior High School

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

$889,200$1,086,800$988,000

PURCHASE PRICE

$4,275$5,225$4,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,750
EXPENSES Loan Payment -$3,432
Property Tax -$995
Property Insurance -$73
HOA -$495
Property Management Fees -$233
CASH FLOW
-$477

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.

$988,000

PROJECTED PRICE

$4,750

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$267,570

INVESTMENT

$267,570

Down Payment
$247,000
Rehab Estimate
$5,750
Closing Costs
$14,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,432

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $247,000
Loan Amount $741,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$31,357

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,750

    LIST RENT
  • $2.5

    LIST RENT PER SQFT
  • $4,826

    COMP ESTIMATED VALUE
  • $2.54

    COMP AVG. RENT PER SQFT
Comps Range
$4,150
1$4,1502$4,7003$4,7504$4,8505$4,950
$4,950
RENT COMPS ANALYSIS
  • 1271 Federal Avenue Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.50
    •  
  • 1446 Armacost Avenue Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2008
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $2.44
    •  
  • 11737 Goshen Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 1997
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $2.54
    •  
  • 2028 S Barrington Avenue Los Angeles, CA 4
    • 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
    •  
  • 11737 Darlington Avenue Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 1988
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $2.53
    •  
PROPERTY LISTING DETAILS
Gary Limjap
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21688584
Last Updated: 02/03/2021
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