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1629 Armacost Avenue #303 Los Angeles, CA 90025

3 Beds 3 Baths 1,706 sqft Built 2008

$1,099,000

List Price

$4,310

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $644.20
  • 31 Days on Market
  • MLS # : 20669994
  • Updated Date : 01/07/2021 at 06:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,706 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices California

Listing Agent's Description

This updated Mediterranean corner unit is complete with 3 bedrooms, 2.5 bathrooms and beautiful courtyard entry. Well appointed open living and dining rooms with high ceilings and tons of natural light. Kitchen has stone tile floors, granite countertops, custom cabinetry and top quality appliances. The kitchen gracefully opens into the living area and a separate dining area. Powder room for guests. Large master suite with walk in closet. Master bath has dual vanities and jetted tub. Private open air balcony off of the living r. Gated single-level garage parking with 2 tandem parking spaces. Lush landscaped community area for relaxing, barbecue and entertaining. In unit washer and dryer. Close to Westwood Village, Beverly Hills, Century City and Santa Monica.

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: Pacific Farms

ZipNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $199k1016k

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

Neighborhood: Pacific Farms

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q220002500300035004000450050005500Rent in $17845550

* 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
Daniel Webster Middle School Middle Regular 454 30 3
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

Daniel Webster Middle School

  • Education Level: Middle
  • # of students: 454
  • # of teachers: 30
3
GreatSchools Rating

University Senior High School

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

$989,100$1,208,900$1,099,000

PURCHASE PRICE

$3,879$4,741$4,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,310
EXPENSES Loan Payment -$3,817
Property Tax -$1,107
Property Insurance -$68
HOA -$650
Property Management Fees -$211
CASH FLOW
-$1,543

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.

$1,099,000

PROJECTED PRICE

$4,310

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.9%
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-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$296,985

INVESTMENT

$296,985

Down Payment
$274,750
Rehab Estimate
$5,750
Closing Costs
$16,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,817

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $274,750
Loan Amount $824,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$210

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,310

    LIST RENT
  • $2.53

    LIST RENT PER SQFT
  • $4,346

    COMP ESTIMATED VALUE
  • $2.55

    COMP AVG. RENT PER SQFT
Comps Range
$4,100
1$4,1002$4,1503$4,3004$4,3105$4,895
$4,895
RENT COMPS ANALYSIS
  • 1629 Armacost Avenue Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $4,310
    • $2.53
    •  
  • 1241 Westgate Avenue S Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,627 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,627 Sqft ∙ Built 2002
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.52
    •  
  • 1446 Armacost Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2008
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $2.44
    •  
  • 1246 Armacost Avenue Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2005
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.47
    •  
  • 11871 Iowa Avenue Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,775 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,775 Sqft ∙ Built 2001
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,895
    • $2.76
    •  
PROPERTY LISTING DETAILS
Laurence Young
Berkshire Hathaway Homeservices California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20669994
Last Updated: 01/07/2021
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