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3126 Oakcrest Drive Los Angeles, CA 90068

3 Beds 2 Baths 1,412 sqft Built 1975

$1,199,000

List Price

$4,540

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $849.15
  • 6 Days on Market
  • MLS # : BB21032970
  • Updated Date : 02/25/2021 at 12:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,412 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Come and see this spectacular Hollywood Hills home with an open floor plan with a large backyard with a swimming pool. This tastefully remodeled beauty offers 3 bedrooms and 2 bathrooms with hardwood floors throughout. Enjoy the entertainer's backyard with easy access from the living room and primary bedroom. There is direct access to the garage with a bonus room plus a separate large laundry room with plenty of storage space. Private driveway provides space for additional parking. Close proximity to the studios, Hollywood Bowl and Sunset Blvd makes this property an ideal place to call home!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

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
Hubert Howe Bancroft Middle School Middle Regular 834 33 3
Hollywood Senior High School High Regular 1,552 67 6

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

$4,086$4,994$4,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,540
EXPENSES Loan Payment -$4,165
Property Tax -$1,219
Property Insurance -$61
Property Management Fees -$222
CASH FLOW
-$1,127

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

$4,540

PROJECTED RENT

0.38%

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$30k

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 60% down payment or higher enables the proceeds from the asset to cover all costs.

$4,165

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$11,042

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,540

    LIST RENT
  • $3.22

    LIST RENT PER SQFT
  • $3,781

    COMP ESTIMATED VALUE
  • $2.68

    COMP AVG. RENT PER SQFT
Comps Range
$3,295
1$3,2952$3,9003$4,0004$4,5005$4,540
$4,540
RENT COMPS ANALYSIS
  • 3126 Oakcrest Drive Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $4,540
    • $3.22
    •  
  • 7162 Hawthorn Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1959
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.37
    •  
  • 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
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.99
    •  
  • 1745 Camino Palmero Street West Hollywood, CA 3
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1973
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.71
    •  
  • 7218 Hillside Avenue Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1991
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.64
    •  
PROPERTY LISTING DETAILS
Hooman Zahedi
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: BB21032970
Last Updated: 02/25/2021
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