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1997 Barnett Way Los Angeles, CA 90032

3 Beds 3 Baths 2,389 sqft Built 2018

$979,999

List Price

$3,230

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $410.21
  • 2 Days on Market
  • MLS # : 20673364
  • Updated Date : 01/16/2021 at 14:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,389 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams-santa Monica

Listing Agent's Description

Gorgeous bespoke modern gem! 3 bedroom, 2.5 bathroom home in delightful University Hills. Large lot with room to add an ADU, pool or a spectacular garden/play area. The contemporary design features a large great room combining living room, dining area and kitchen w/ walk in pantry. Plenty of space to work at home and social distance. Enjoy the view from the huge front deck with barbecue, or privacy on the large back patio, both perfect for indoor/outdoor lifestyle. Top of the line, Italian designer tile flooring, contemporary bath fixtures and finishes. Modern aesthetic black iron security gating in addition to the camera surveillance system, makes this house private and secure. Also featuring large windows for abundant natural light and a spacious two-car garage. Ground up new construction in 2018. Enjoy the breeze and the city views in this quiet neighborhood with easy access to DTLA, the 10 and 110 freeways, Pasadena, Cal State LA and much more. COVID-related price won't last!

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: University Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $140k725k

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

Neighborhood: University Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16353316

* 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
City Terrace Elementary School Primary Regular 432 19 5
El Sereno Middle School Middle Regular 1,276 65 4
Abraham Lincoln Senior High School High Regular 1,219 54 5

City Terrace Elementary School

  • Education Level: Primary
  • # of students: 432
  • # of teachers: 19
5
GreatSchools Rating

El Sereno Middle School

  • Education Level: Middle
  • # of students: 1,276
  • # of teachers: 65
4
GreatSchools Rating

Abraham Lincoln Senior High School

  • Education Level: High
  • # of students: 1,219
  • # of teachers: 54
5
GreatSchools Rating
 

$881,999$1,077,999$979,999

PURCHASE PRICE

$2,907$3,553$3,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,230
EXPENSES Loan Payment -$3,404
Property Tax -$1,018
Property Insurance -$84
Property Management Fees -$158
CASH FLOW
-$1,435

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.

$979,999

PROJECTED PRICE

$3,230

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

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$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$265,450

INVESTMENT

$265,450

Down Payment
$245,000
Rehab Estimate
$5,750
Closing Costs
$14,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,404

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $245,000
Loan Amount $734,999
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$163

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,230

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $3,703

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$3,230
1$3,2302$3,300
$3,300
RENT COMPS ANALYSIS
  • 1997 Barnett Way Los Angeles, CA 1
    • 3 beds 3 baths ∙ 2,389 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,389 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $3,230
    • $1.35
    •  
  • 4029 Barrett Road Los Angeles, CA 2
    • 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2007
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.55
    •  
PROPERTY LISTING DETAILS
Janin Paine
Keller Williams-santa Monica
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20673364
Last Updated: 01/16/2021
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