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1424 Amherst Avenue #104 Los Angeles, CA 90025

3 Beds 3 Baths 1,664 sqft Built 1968

$925,000

List Price

$4,230

$4K - $4.5K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $555.89
  • 6 Days on Market
  • MLS # : 20662364
  • Updated Date : 11/28/2020 at 06:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,664 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

Completely redone condo with 3 bedrooms, 3 baths with designer finishes throughout. Open floorplan terrific for entertaining. Cook's kitchen with quartz counters, custom cabinets, mosaic glass backsplash, farmhouse stainless steel undermount sink, and stainless steel appliances. X-large master suite with walk-in closets and custom bath with Quartz countertops and more! The second bedroom has a bath with a spa tub, a separate office space, or a 3rd bedroom. Other features include wide plank macadamia oak and recessed LED lighting Extra large separate laundry in unit with washer/dryer side by side parking, huge extra storage area in front. Seconds from Santa Monica Blvd's stores and eateries. Just a few blocks to Wilshire Blvd in Brentwood and close to the freeways. This property is also for lease.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sawtelle

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $199k1047k

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

Neighborhood: Sawtelle

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844550

* 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
Brockton Avenue Elementary School Primary Regular 222 12 4
Emerson Community Charter School Middle Regular 533 23 5
University Senior High School High Regular 1,763 72 7

Brockton Avenue Elementary School

  • Education Level: Primary
  • # of students: 222
  • # of teachers: 12
4
GreatSchools Rating

Emerson Community Charter School

  • Education Level: Middle
  • # of students: 533
  • # of teachers: 23
5
GreatSchools Rating

University Senior High School

  • Education Level: High
  • # of students: 1,763
  • # of teachers: 72
7
GreatSchools Rating
 

$832,500$1,017,500$925,000

PURCHASE PRICE

$3,807$4,653$4,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,230
EXPENSES Loan Payment -$3,413
Property Tax -$932
Property Insurance -$67
HOA -$400
Property Management Fees -$207
CASH FLOW
-$789

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.

$925,000

PROJECTED PRICE

$4,230

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.3%
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

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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$250,875

INVESTMENT

$250,875

Down Payment
$231,250
Rehab Estimate
$5,750
Closing Costs
$13,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,413

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $231,250
Loan Amount $693,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$15,283

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,230

    LIST RENT
  • $2.54

    LIST RENT PER SQFT
  • $4,597

    COMP ESTIMATED VALUE
  • $2.76

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,9953$4,2304$4,3505$4,450
$4,450
RENT COMPS ANALYSIS
  • 1424 Amherst Avenue Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1968 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,230
    • $2.54
    •  
  • 11820 Mayfield Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1967
    property image
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.63
    •  
  • 1659 Franklin Street Santa Monica, CA 2
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1963
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.83
    •  
  • 809 S Bundy Drive Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 1970
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $2.65
    •  
  • 1519 Stanford Street Santa Monica, CA 5
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1980
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,450
    • $2.94
    •  
PROPERTY LISTING DETAILS
Jerry Bliss
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20662364
Last Updated: 11/28/2020
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