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1400 N Fuller Avenue #2 Los Angeles, CA 90046

3 Beds 4 Baths 1,709 sqft Built 2014

$1,222,500

List Price

$5,020

$4.8K - $5.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $715.33
  • 5 Days on Market
  • MLS # : 21703640
  • Updated Date : 03/11/2021 at 13:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,709 sqft
  • Baths : 3 full , 1 half
Listing Agent

Don Klein

Listing Agent's Description

Act now for the only unit for sale! Reduced under market w/Views! Views! Unobstructed Hollywood Hills & downtown views from double rooftop decks! Most sought after unit of this size! Sophisticated cutting edge tri-level single family home with no shared walls! Located steps from prime West Hollywood, walk to Sunset Strip and the coveted hiking trails of Runyon Canyon. No expense spared in this new construction w/ state of the art appliances (Bertazzoni, Bosch and Thermador!), Caesarstone counters, Grohe fixtures and custom hardwood floors. Enter through 2-car private garage to first floor w/ensuite bedroom (or office) with private bath and closet. Second floor has the magnificent open floor plan of designer center island gourmet kitchen and spacious living room with hi ceilings throughout and a powder room. The 3rd floor showcases 2 master bedroom suites, 2 baths and the laundry area. The master has 2 custom closets & large windows. Double roof top decks make a sleek elaborate entertainment/living area with unparalleled views. Enjoy the views of Hollywood Hills and downtown for your sophisticated buyer!

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: 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
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
 

$1,100,250$1,344,750$1,222,500

PURCHASE PRICE

$4,518$5,522$5,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,020
EXPENSES Loan Payment -$4,246
Property Tax -$1,239
Property Insurance -$68
HOA -$165
Property Management Fees -$246
CASH FLOW
-$944

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.

$1,222,500

PROJECTED PRICE

$5,020

PROJECTED RENT

0.41%

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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$329,713

INVESTMENT

$329,713

Down Payment
$305,625
Rehab Estimate
$5,750
Closing Costs
$18,338

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,246

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $305,625
Loan Amount $916,875
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$19,886

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,020

    LIST RENT
  • $2.94

    LIST RENT PER SQFT
  • $4,623

    COMP ESTIMATED VALUE
  • $2.71

    COMP AVG. RENT PER SQFT
Comps Range
$4,195
1$4,1952$4,4753$4,6004$4,9005$5,020
$5,020
RENT COMPS ANALYSIS
  • 1400 N Fuller Avenue Los Angeles, CA 5
    • 3 beds 4 baths ∙ 1,709 Sqft ∙ Built 2014 3 beds 4 baths ∙ 1,709 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $5,020
    • $2.94
    •  
  • 357 N Hayworth Avenue Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2007
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,195
    • $2.57
    •  
  • 823 N Martel Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,475
    • $2.71
    •  
  • 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
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.66
    •  
  • 1248 N Laurel West Hollywood, CA 4
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $2.88
    •  
PROPERTY LISTING DETAILS
Donald Klein
Don Klein
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21703640
Last Updated: 03/11/2021
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