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1401 S St Andrews Place #403 Los Angeles, CA 90019

3 Beds 2 Baths 1,110 sqft Built 2007

$629,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $566.67
  • 9 Days on Market
  • MLS # : 20651672
  • Updated Date : 11/02/2020 at 12:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,110 sqft
  • Baths : 2 full
Listing Agent

Solomon Realty

Listing Agent's Description

Top Floor 3 bed & 2 bath unit with city view. Hardwood floor in Living room and carpet in 3 Rooms. Easy access to downtown and freeway. 2 parking + guest parking. Laundry inside the unit. Extra storage on the parking lot. Month to Month Tenant occupied $2,800/m. Easy to show. Please email Pre-approval & PEAD to make an appointment. Virtual Showing https://my.matterport.com/show/?m=F7JkzjXTFqk

SEE MORE

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: Angelus Vista

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $153k940k

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

Neighborhood: Angelus Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $16544238

* 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
Los Angeles Elementary School Primary Regular 803 32 5
Pio Pico Middle School Middle Regular 625 28 5
West Adams Preparatory High School High Regular 1,684 85 2

Los Angeles Elementary School

  • Education Level: Primary
  • # of students: 803
  • # of teachers: 32
5
GreatSchools Rating

Pio Pico Middle School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 28
5
GreatSchools Rating

West Adams Preparatory High School

  • Education Level: High
  • # of students: 1,684
  • # of teachers: 85
2
GreatSchools Rating
 

$566,100$691,900$629,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,321
Property Tax -$633
Property Insurance -$54
HOA -$295
Property Management Fees -$123
CASH FLOW
-$906

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.

$629,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,435

INVESTMENT

$172,435

Down Payment
$157,250
Rehab Estimate
$5,750
Closing Costs
$9,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,321

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,250
Loan Amount $471,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$310

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $2.27

    LIST RENT PER SQFT
  • $2,683

    COMP ESTIMATED VALUE
  • $2.42

    COMP AVG. RENT PER SQFT
Comps Range
$2,520
1$2,5202$2,7953$2,8004$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 1401 S St Andrews Place Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $2.27
    •  
  • 906 S Serrano Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 2005
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.27
    •  
  • 1025 Dewey Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 2006
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.43
    •  
  • 1216 S Ardmore Avenue Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2019
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.47
    •  
  • 1036 S Serrano Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 2005
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.50
    •  
PROPERTY LISTING DETAILS
Austin Kim
Solomon Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20651672
Last Updated: 11/02/2020
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