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PROPERTY INFO
FACTS
- Single Family
- Built In 1950
- Price/Sqft : $691.66
- 3 Days on Market
- MLS # : PW21034744
- Updated Date : 02/20/2021 at 12:25
CONSTRUCTION
- Beds : 3
- Floor Size : 983 sqft
- Baths : 2 full
Listing Agent
Fabiola Rodriquez, Broker
Listing Agent's Description
Welcome to University Hills! Gorgeous move-in ready 3 bedroom 2 bathrooms perfectly nestled below a large corner hillside and just freshened up with new paint in and out and new flooring throughout. Upon first walking in, you will be greeted by a substantial living room with views of rolling hillsides and full of natural lighting. The open concept of the kitchen and living room make this home ideal for entertaining. Featuring new granite countertops and glass tile. The master bedroom has direct access to the backyard which has a generous patio space and romantic seating area. Three bedrooms all with remodeled closets, one unique hand painted ceiling and barn doors. One of the bedrooms could be converted into a home office. A newly renovated master bathroom includes faux marble porcelain tiled walls and ceramic flooring with beach pebble stones and a separate bathroom with a full bath and overhead shower is completed with new mosaic glass tile. Close distance to Cal State LA, DTLA, and all nearby Shopping and Restaurants.
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MARKET HIGHLIGHTS
- 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)
- 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]
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
PRICE & RENT TRENDS
Neighborhood: University Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: University Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,640 |
| EXPENSES | Loan Payment | -$2,362 |
| Property Tax | -$706 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$608
|
||
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.
$679,900
PROJECTED PRICE
$2,640
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.48% |
| Appreciation Year (1-5) | 12.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.69% |
| 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
$185,924
LOAN DETAILS
$2,362
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $169,975 |
| Loan Amount | $509,925 |
1.67
YEARS SAVED
$7,256
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,640
LIST RENT -
$2.69
LIST RENT PER SQFT
-
$2,622
COMP ESTIMATED VALUE -
$2.67
COMP AVG. RENT PER SQFT
Comps Range
-
1861 Marney Avenue Los Angeles, CA 2
- 3 beds 2 baths ∙ 983 Sqft ∙ Built 1950 3 beds 2 baths ∙ 983 Sqft ∙ Built 1950
- Rent
- Rent Per SQFT
- $2,640
- $2.69
-
3924 Dwiggins Street Los Angeles, CA 1
- 3 beds 1 baths ∙ 925 Sqft ∙ Built 1963 3 beds 1 baths ∙ 925 Sqft ∙ Built 1963
LEASED 07/09/20- Rent
- Rent Per SQFT
- $2,500
- $2.70
-
1137 Miller Avenue City Terrace, CA 3
- 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1939 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1939
LEASED 01/05/21- Rent
- Rent Per SQFT
- $2,700
- $2.70
-
2266 Lillyvale Avenue Los Angeles, CA 4
- 3 beds 2 baths ∙ 1,058 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,058 Sqft ∙ Built 1940
LEASED 02/08/21- Rent
- Rent Per SQFT
- $2,800
- $2.65
-
728 N Fickett Street Los Angeles, CA 5
- 3 beds 1 baths ∙ 1,126 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,126 Sqft ∙ Built 1949
LEASED 09/07/19- Rent
- Rent Per SQFT
- $2,950
- $2.62
PROPERTY LISTING DETAILS
Fabiola Rodriquez, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21034744
Last Updated: 02/20/2021
