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3031 Valevista Los Angeles, CA 90068

3 Beds 2 Baths 1,851 sqft Built 1947

$1,500,000

List Price

$5,620

$5.4K - $5.9K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $810.37
  • 7 Days on Market
  • MLS # : CV20252877
  • Updated Date : 12/08/2020 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,851 sqft
  • Baths : 2 full
Listing Agent

Re/max Time Realty

Listing Agent's Description

Stunning Totally Remodeled Modern Architectural home nestled in the Hills of Hollywood! House provides peace and privacy with views of the city lights & surrounded by picturesque natural landscapes. Remodeled in 2014 house boasts open layout, New custom kitchen cabinets, Limestone kitchen counters, upgraded Jennair Stainless steel kitchen appliances, concrete floors throughout bottom floor, floor to ceiling windows, High ceilings coincide with a double wood burning fireplace for great indoor/outdoor flow with multiple areas ideal for entertaining or al fresco dining by the outdoor fireplace. 3rd Bedroom converted into entertainment room. Extraordinary landscapes surrounds the perimeter with lagoon-like 15 person hot tub with wireless controls and waterfall in the back area. Fully remodeled bathrooms including Master Bathroom heated floors and waterfall shower head! Culligan reverse osmosis water filtration and soft water system included and Surround sound speakers wired throughout the house! Close to Sunset Strip, Downtown LA and the Studios!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Hollywood Hills

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $199k1363k

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

Neighborhood: Hollywood Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q220002500300035004000450050005500Rent in $17845757

* 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
Valley View Elementary School Primary Regular 220 10 10
Hubert Howe Bancroft Middle School Middle Regular 834 33 3
Hollywood Senior High School High Regular 1,552 67 6

Valley View Elementary School

  • Education Level: Primary
  • # of students: 220
  • # of teachers: 10
10
GreatSchools Rating

Hubert Howe Bancroft Middle School

  • Education Level: Middle
  • # of students: 834
  • # of teachers: 33
3
GreatSchools Rating

Hollywood Senior High School

  • Education Level: High
  • # of students: 1,552
  • # of teachers: 67
6
GreatSchools Rating
 

$1,350,000$1,650,000$1,500,000

PURCHASE PRICE

$5,058$6,182$5,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,620
EXPENSES Loan Payment -$5,534
Property Tax -$1,511
Property Insurance -$71
Property Management Fees -$275
CASH FLOW
-$1,772

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.

$1,500,000

PROJECTED PRICE

$5,620

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 9.4%
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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$403,250

INVESTMENT

$403,250

Down Payment
$375,000
Rehab Estimate
$5,750
Closing Costs
$22,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$5,534

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $375,000
Loan Amount $1,125,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$7,180

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,620

    LIST RENT
  • $3.04

    LIST RENT PER SQFT
  • $4,137

    COMP ESTIMATED VALUE
  • $2.24

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,8003$5,620
$5,620
RENT COMPS ANALYSIS
  • 3031 Valevista Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $5,620
    • $3.04
    •  
  • 7560 Hollywood Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1960
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.19
    •  
  • 10747 Wrightwood Lane Studio City, CA 2
    • 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1965
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.28
    •  
PROPERTY LISTING DETAILS
John Fontamillas
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20252877
Last Updated: 12/08/2020
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