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3122 Oakcrest Drive Los Angeles, CA 90068

3 Beds 2 Baths 1,512 sqft Built 1960

$1,199,000

List Price

$4,400

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $792.99
  • 7 Days on Market
  • MLS # : SR20240744
  • Updated Date : 11/17/2020 at 12:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Rodeo Realty

Listing Agent's Description

You will love this cool mid-Century 3 bedroom, 2 bathroom home. Perched on a cul-de-sac street in the Hollywood Hills, you will have a peekaboo view of Universal Studios and beyond. The kitchen, dining area, and living room blend together making the open floor plan ideal for relaxing or entertaining. The kitchen features marble countertops, stainless steel appliances, and a breakfast bar. From the dining area, French doors open to a huge deck, perfect for outdoor dining. The en-suite master bedroom opens to an enchanting backyard with ample outdoor space and a hot tub. Other features include wood floors, high ceiling in the living room, and Double-paned windows. This home is situated within the highly rated Valley View Elementary school boundaries. Easy access to Universal, Hollywood Bowl, Studios, and Studio City. Make this Hollywood Hills Treasure your new home.

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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: 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
 

$1,079,100$1,318,900$1,199,000

PURCHASE PRICE

$3,960$4,840$4,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,400
EXPENSES Loan Payment -$4,424
Property Tax -$1,219
Property Insurance -$63
Property Management Fees -$216
CASH FLOW
-$1,522

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.

$1,199,000

PROJECTED PRICE

$4,400

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,485

INVESTMENT

$323,485

Down Payment
$299,750
Rehab Estimate
$5,750
Closing Costs
$17,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,424

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,207

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,400

    LIST RENT
  • $2.91

    LIST RENT PER SQFT
  • $3,619

    COMP ESTIMATED VALUE
  • $2.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,799
1$2,7992$3,9003$3,9954$4,400
$4,400
RENT COMPS ANALYSIS
  • 3122 Oakcrest Drive Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.91
    •  
  • 3412 Barham Boulevard Los Angeles, CA 1
    • 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1949
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,799
    • $2.00
    •  
  • 2531 Thames Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1960
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.99
    •  
  • 7560 Hollywood Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1960
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.19
    •  
PROPERTY LISTING DETAILS
Todd Jones
Rodeo Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20240744
Last Updated: 11/17/2020
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