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PROPERTY INFO
FACTS
- Single Family
- Built In 1919
- Price/Sqft : $794.18
- 93 Days on Market
- MLS # : WS20213971
- Updated Date : 11/01/2020 at 16:20
CONSTRUCTION
- Beds : 3
- Floor Size : 1,511 sqft
- Baths : 1 full
Listing Agent
Huntington Realty Group Co.
Listing Agent's Description
California Craftsman Bungalow, Built 1919, 1,511 Sqft, 6,532 Lot Sqft.; 3 bedrooms with 1.5 baths, formal dining room, breakfast area in kitchen. Large open space living room w/ fireplace, hardwood floors thru out the house. Ceiling fans in the all bedrooms. Private gated, long driveway, two cars detached garage. Covered front porch. It has a beautiful characteristic, great bones. Open up to re-imagine the way your liking. Great location in KTown, close to shopping center, walking distance to public transportation – Buses and Metro, easy access to freeways. Property to be sold AS-IS.
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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: Wilshire Center - Koreatown
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Wilshire Center - Koreatown
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,940 |
| EXPENSES | Loan Payment | -$4,168 |
| Property Tax | -$1,208 | |
| Property Insurance | -$63 | |
| Property Management Fees | -$193 | |
|
CASH FLOW
-$1,693
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$1,200,000
PROJECTED PRICE
$3,940
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 7.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| 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
$323,750
LOAN DETAILS
$4,168
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $300,000 |
| Loan Amount | $900,000 |
0.25
YEARS SAVED
$390
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,940
LIST RENT -
$2.61
LIST RENT PER SQFT
-
$3,974
COMP ESTIMATED VALUE -
$2.63
COMP AVG. RENT PER SQFT
Comps Range
-
207 N Harvard Boulevard Los Angeles, CA 2
- 3 beds 1 baths ∙ 1,511 Sqft ∙ Built 1919 3 beds 1 baths ∙ 1,511 Sqft ∙ Built 1919
![property image]()
- Rent
- Rent Per SQFT
- $3,940
- $2.61
-
1125 N Heliotrope Drive Los Angeles, CA 1
- 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1919 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1919
![property image]()
LEASED 11/09/19- Rent
- Rent Per SQFT
- $3,900
- $2.41
-
218 N Serrano Avenue Los Angeles, CA 3
- 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1917 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1917
![property image]()
LEASED 09/04/20- Rent
- Rent Per SQFT
- $3,995
- $2.53
-
141 S Serrano Avenue Los Angeles, CA 4
- 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1910 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1910
![property image]()
LEASED 08/27/20- Rent
- Rent Per SQFT
- $4,500
- $2.43
-
202 N Serrano Avenue Los Angeles, CA 5
- 3 beds 1 baths ∙ 1,554 Sqft ∙ Built 1918 3 beds 1 baths ∙ 1,554 Sqft ∙ Built 1918
![property image]()
LEASED 11/23/19- Rent
- Rent Per SQFT
- $4,900
- $3.15
PROPERTY LISTING DETAILS
Huntington Realty Group Co.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: WS20213971
Last Updated: 11/01/2020
