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1353 N Fuller Avenue #105 Los Angeles, CA 90046

3 Beds 3 Baths 1,650 sqft Built 2007

$909,000

List Price

$4,190

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $550.91
  • 3 Days on Market
  • MLS # : 20656714
  • Updated Date : 11/06/2020 at 18:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full , 1 half
Listing Agent

House333

Listing Agent's Description

Pure luxury for the selective buyers on the hunt, this sexy/sheek 3 bed 2.5 bath home. No budget spared for stunning European-style wide planked 7.5" oakwood floor throughout w/ full leveling prior to install. Sophistication upon entry from elevator to hallway w/designer carpet, wall art & door/hardware of each suite. Front entry is a gorgeous chandelier, a coat closet & a powder room. Italian-designed brush Oak cabinetry in kitch/full bath. Kitch w/ a farmhouse sink, new Samsung fridge & a chef's grade stove. Master bed w/ newly added custom mirrored wardrobe w/ built-in jewelry trays, felt-lined drawers & shoe shelves. Designer pendant/LED recessed lights and 4 Levitron outlets w/ USB/USB-C ports. Ring wireless outdr patio cam, Ring alarm sys w/ keypad & motion detectors, ADT sec ready & NEST wifi climate. Custom built living rm slider door w/ a built-in dog door & patio custom railing. 1 of 4 largest units, 2-car parking, 12 guest parking, storage cabinet in front of parking space.

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MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hollywood

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $153k1115k

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

Neighborhood: Hollywood

ZipNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500500055006000Rent in $17186144

* 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
Gardner Street Elementary School Primary Regular 452 18 7
Gardner Street Elementary School Middle Regular 452 18 7
Fairfax Senior High School High Regular 2,101 83 6

Gardner Street Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 18
7
GreatSchools Rating

Gardner Street Elementary School

  • Education Level: Middle
  • # of students: 452
  • # of teachers: 18
7
GreatSchools Rating

Fairfax Senior High School

  • Education Level: High
  • # of students: 2,101
  • # of teachers: 83
6
GreatSchools Rating
 

$818,100$999,900$909,000

PURCHASE PRICE

$3,771$4,609$4,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,190
EXPENSES Loan Payment -$3,354
Property Tax -$915
Property Insurance -$67
HOA -$472
Property Management Fees -$205
CASH FLOW
-$823

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$909,000

PROJECTED PRICE

$4,190

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$246,635

INVESTMENT

$246,635

Down Payment
$227,250
Rehab Estimate
$5,750
Closing Costs
$13,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,354

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $227,250
Loan Amount $681,750
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$12,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,190

    LIST RENT
  • $2.54

    LIST RENT PER SQFT
  • $4,476

    COMP ESTIMATED VALUE
  • $2.71

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$4,1903$4,5004$4,6005$4,600
$4,600
RENT COMPS ANALYSIS
  • 1353 N Fuller Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $4,190
    • $2.54
    •  
  • 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
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.76
    •  
  • 7218 Hillside Avenue Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1991
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.64
    •  
  • 823 N Martel Avenue Los Angeles, CA 4
    • 3 beds 4 baths ∙ 1,650 Sqft ∙ Built 2004 3 beds 4 baths ∙ 1,650 Sqft ∙ Built 2004
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.79
    •  
  • 718 N Croft Avenue Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.66
    •  
PROPERTY LISTING DETAILS
Luke Kensen
House333
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20656714
Last Updated: 11/06/2020
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