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3032 Future Place Los Angeles, CA 90065

4 Beds 3 Baths 2,142 sqft Built 1995

$995,999

List Price

$3,890

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $464.99
  • 2 Days on Market
  • MLS # : CV20230857
  • Updated Date : 11/02/2020 at 12:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,142 sqft
  • Baths : 3 full
Listing Agent

Beverly And Company, Inc

Listing Agent's Description

Here is your opportunity to own a beautiful, custom home in the highly sought-after Mt. Washington neighborhood in Los Angeles. This rare 5 bedroom home boasts lots of natural light, tall ceilings, a large formal living/family room with views of Downtown, a newly remodeled kitchen, and an open floor plan. Off the kitchen you will find two main level bedrooms that share a spacious balcony that is great for reading a book and enjoying the gorgeous views. Upstairs you will find 2 spacious bedrooms along with your lovely master suite. Stepping into your backyard, you have the perfect space for relaxation or entertainment. This home comes equipped with a gem of a garage that you can’t find anywhere else in Mt. Washington. It can easily store multiple vehicles. Sitting on a quiet cul-de-sac with nightlife and fine dining to be found only 10 minutes away in trendy Highland Park, Eagle Rock, and the Americana mall.This home has been meticulously cared for and is ready for it’s new owner. The only thing missing is you.

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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: Mount Washington

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $187k818k

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

Neighborhood: Mount Washington

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $16353845

* 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
Glassell Park Elementary School Primary Regular 452 20 2
Washington Irving Middle School Math Music Engineering Mag Middle Regular 632 31 6
Puc Early College Academy For Leaders And Scholars High Charter 446 20 6

Glassell Park Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 20
2
GreatSchools Rating

Washington Irving Middle School Math Music Engineering Mag

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 31
6
GreatSchools Rating

Puc Early College Academy For Leaders And Scholars

  • Education Level: High
  • # of students: 446
  • # of teachers: 20
6
GreatSchools Rating
 

$896,399$1,095,599$995,999

PURCHASE PRICE

$3,501$4,279$3,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,890
EXPENSES Loan Payment -$3,675
Property Tax -$1,035
Property Insurance -$78
Property Management Fees -$191
CASH FLOW
-$1,089

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.

$995,999

PROJECTED PRICE

$3,890

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 10.0%
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-$20k-$10k$0.0$10k$20k

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$269,690

INVESTMENT

$269,690

Down Payment
$249,000
Rehab Estimate
$5,750
Closing Costs
$14,940

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,000
Loan Amount $746,999
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$7,805

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,890

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $3,470

    COMP ESTIMATED VALUE
  • $1.62

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,890
$3,890
RENT COMPS ANALYSIS
  • 3032 Future Place Los Angeles, CA 2
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $3,890
    • $1.82
    •  
  • 4557 Paulhan Avenue Los Angeles, CA 1
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 1988
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.62
    •  
PROPERTY LISTING DETAILS
Brandon Peters
Beverly And Company, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20230857
Last Updated: 11/02/2020
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