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326 Kirby Street Los Angeles, CA 90042

4 Beds 2 Baths 1,394 sqft Built 1922

$925,000

List Price

$3,450

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1922
  • Price/Sqft : $663.56
  • 6 Days on Market
  • MLS # : SR21018387
  • Updated Date : 02/03/2021 at 12:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,394 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Encino-sherman Oaks

Listing Agent's Description

This recently updated home in Highland Park is one of the only pool homes in the neighborhood and is ideally located next to trendy shops, restaurants, local schools, and more. Welcome home to this 1,400 sf, 4 bed, 2 bath home with a private backyard oasis. Enter to a bright open floor plan streamed with natural light where a living area with dark laminate flooring and crown moldings throughout takes you to a chef’s kitchen with a breakfast bar, stainless steel appliances, overhead range, and dark wood cabinetry with modern fixtures. Down the hall, four bedrooms welcome a growing family, space for a home office or studio, or room for in-laws. The master suite is your private sanctuary with its own private deck, cabana, and direct access to the backyard. The backyard playground features a sparkling pool two gazebos and is an entertainer’s haven. A garage with a private entrance from another street (Fisher St) is the perfect opportunity to convert into an ADU for passive income. Just down the street from the Highland Reservoir and a few blocks from the York Blvd, you won’t want to miss this one!

SEE MORE

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: Garvanza

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $187k808k

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

Neighborhood: Garvanza

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400Rent in $16353436

* 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
Luther Burbank Middle School Middle Regular 883 36 5
Benjamin Franklin High School High Regular 1,460 56 6

Luther Burbank Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 36
5
GreatSchools Rating

Benjamin Franklin High School

  • Education Level: High
  • # of students: 1,460
  • # of teachers: 56
6
GreatSchools Rating
 

$832,500$1,017,500$925,000

PURCHASE PRICE

$3,105$3,795$3,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,450
EXPENSES Loan Payment -$3,213
Property Tax -$961
Property Insurance -$61
Property Management Fees -$169
CASH FLOW
-$953

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.

$925,000

PROJECTED PRICE

$3,450

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 9.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$250,875

INVESTMENT

$250,875

Down Payment
$231,250
Rehab Estimate
$5,750
Closing Costs
$13,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,213

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $231,250
Loan Amount $693,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$5,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,450

    LIST RENT
  • $2.47

    LIST RENT PER SQFT
  • $3,495

    COMP ESTIMATED VALUE
  • $2.51

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3003$3,4504$4,2005$4,400
$4,400
RENT COMPS ANALYSIS
  • 326 Kirby Street Los Angeles, CA 3
    • 4 beds 2 baths ∙ 1,394 Sqft ∙ Built 1922 4 beds 2 baths ∙ 1,394 Sqft ∙ Built 1922
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.47
    •  
  • 1027 Doran Street South Pasadena, CA 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1905 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1905
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.38
    •  
  • 1033 Palm Avenue South Pasadena, CA 2
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1905 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1905
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.54
    •  
  • 327 Livermore Terrace Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1924
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.55
    •  
  • 716 Grand Avenue South Pasadena, CA 5
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1926
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.56
    •  
PROPERTY LISTING DETAILS
Eric Delgado
Keller Williams Encino-sherman Oaks
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21018387
Last Updated: 02/03/2021
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