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PROPERTY INFO
FACTS
- Single Family
- Built In 1910
- Price/Sqft : $543.48
- 4 Days on Market
- MLS # : 20674460
- Updated Date : 01/02/2021 at 20:21
CONSTRUCTION
- Beds : 3
- Floor Size : 1,610 sqft
- Baths : 1 full
Listing Agent
Keller Williams Realty Los Feliz
Listing Agent's Description
Diamond in the rough, this true-to-the-core California Craftsman is in much need of TLC (new copper plumbing and new electrical) or you can develop to build multi units and enjoy 360 degree views. Designated as TOC 2 you can increase @ 35% additional units in this section of Silver Lake. This property is centrally located and in close proximity to the 101 Freeway, Downtown LA and many of Echo Park's and Silver Lake's attractions. Still not sure where you are? Just say Bootleg Theatre, Doubting Thomas, Crawford's, 1642 Bar, Brooklyn Bagel Bakery, Original Tommy's Hamburgers, Gigi's Bakery & Cafe, HiFi Kitchen and many more. Property sold in as-is condition with no credits or repairs. Buyer to verify all aspects of property as to zoning, lot size, dimensions and any and all other aspects. Agent and Broker do not bear any responsibility in verifying any information provided herein.
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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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Historic Filipinotown
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Historic Filipinotown
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,050 |
| EXPENSES | Loan Payment | -$3,228 |
| Property Tax | -$881 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$198 | |
|
CASH FLOW
-$324
|
||
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.
$875,000
PROJECTED PRICE
$4,050
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 11.2% |
| 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
$237,625
LOAN DETAILS
$3,228
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $218,750 |
| Loan Amount | $656,250 |
4.58
YEARS SAVED
$49,809
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,050
LIST RENT -
$2.52
LIST RENT PER SQFT
-
$4,089
COMP ESTIMATED VALUE -
$2.54
COMP AVG. RENT PER SQFT
Comps Range
-
216 N Coronado Street Los Angeles, CA 3
- 3 beds 1 baths ∙ 1,610 Sqft ∙ Built 1910 3 beds 1 baths ∙ 1,610 Sqft ∙ Built 1910
- Rent
- Rent Per SQFT
- $4,050
- $2.52
-
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
LEASED 11/09/19- Rent
- Rent Per SQFT
- $3,900
- $2.41
-
218 N Serrano Avenue Los Angeles, CA 2
- 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1917 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1917
LEASED 09/04/20- Rent
- Rent Per SQFT
- $3,995
- $2.53
-
1310 N Coronado Street Los Angeles, CA 4
- 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1922 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1922
LEASED 02/27/20- Rent
- Rent Per SQFT
- $4,200
- $2.79
-
141 S Serrano Avenue Los Angeles, CA 5
- 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1910 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1910
LEASED 08/27/20- Rent
- Rent Per SQFT
- $4,500
- $2.43
PROPERTY LISTING DETAILS
Keller Williams Realty Los Feliz
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 20674460
Last Updated: 01/02/2021
