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1405 Silver Lake Boulevard Los Angeles, CA 90026

3 Beds 2 Baths 1,371 sqft Built 1923

$1,175,000

List Price

$4,220

$4K - $4.5K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1923
  • Price/Sqft : $857.04
  • 5 Days on Market
  • MLS # : PW21012861
  • Updated Date : 01/20/2021 at 13:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,371 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Pacific Estate

Listing Agent's Description

Fall in Love with this trendy and serene single family home in a prime Silver Lake Location, known for its walkability to all the prime spots. This is the lowest priced three bedroom, two bath home north of Sunset! A mere drive by won’t give you the full experience as this peaceful home lives behind the private fence and tall hedges. As you walk up, you are greeted with a sleek modern exterior. Beautifully manicured three-tiered yard with stunning views of the Silver Lake Hills, perfect for entertaining or enjoying a relaxing bonfire with friends and family. As you walk through the front door, the open floor plan features hardwood floors, tons of light flowing into the living area, and the peaceful views you get to enjoy as you are having breakfast. The spacious kitchen is complete with granite counters, ample cabinet space, recessed lights at the breakfast bar, and stainless steel appliances. The home is conveniently located near the reservoir, recreation, shopping, and restaurants. Take a walk to Sunset Junction, the Reservoir, Silver Lake dog park or the jogging loop! Enjoy all the trendy spots that Silver Lake offers within a short distance from home. And not to mention it is Zoned LAR2!! The possibilities are endless. Come and see why this home is so special.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Silver Lake

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $199k1127k

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

Neighborhood: Silver Lake

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844570

* 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
Micheltorena Street Elementary School Primary Regular 328 16 6
Thomas Starr King Middle School Magnet- Film And Media Middle Regular 1,811 72 7
John Marshall Senior High High Regular 2,463 91 8

Micheltorena Street Elementary School

  • Education Level: Primary
  • # of students: 328
  • # of teachers: 16
6
GreatSchools Rating

Thomas Starr King Middle School Magnet- Film And Media

  • Education Level: Middle
  • # of students: 1,811
  • # of teachers: 72
7
GreatSchools Rating

John Marshall Senior High

  • Education Level: High
  • # of students: 2,463
  • # of teachers: 91
8
GreatSchools Rating
 

$1,057,500$1,292,500$1,175,000

PURCHASE PRICE

$3,798$4,642$4,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,220
EXPENSES Loan Payment -$4,081
Property Tax -$1,195
Property Insurance -$60
Property Management Fees -$207
CASH FLOW
-$1,323

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.

$1,175,000

PROJECTED PRICE

$4,220

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.8%
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$3.5M$4.0M

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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$317,125

INVESTMENT

$317,125

Down Payment
$293,750
Rehab Estimate
$5,750
Closing Costs
$17,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $293,750
Loan Amount $881,250
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$3,833

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,220

    LIST RENT
  • $3.08

    LIST RENT PER SQFT
  • $4,233

    COMP ESTIMATED VALUE
  • $3.09

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,2003$4,2204$4,4005$4,990
$4,990
RENT COMPS ANALYSIS
  • 1405 Silver Lake Boulevard Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 1923
    • Rent
    • Rent Per SQFT
    •  
    • $4,220
    • $3.08
    •  
  • 1119 Logan Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1936 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1936
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $3.07
    •  
  • 1310 N Coronado Street Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1922 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1922
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.79
    •  
  • 1526 Allesandro Street Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1920 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1920
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $3.22
    •  
  • 2544 Elsinore Street Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1922
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,990
    • $3.27
    •  
PROPERTY LISTING DETAILS
Andrew Munoz
Keller Williams Pacific Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21012861
Last Updated: 01/20/2021
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