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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Silver Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$317,125
LOAN DETAILS
$4,081
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $293,750 |
| Loan Amount | $881,250 |
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
-
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
Keller Williams Pacific Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21012861
Last Updated: 01/20/2021
