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3260 Hillock Drive Los Angeles, CA 90068

4 Beds 3 Baths 2,150 sqft Built 1938

$1,499,000

List Price

$5,760

$5.5K - $6K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1938
  • Price/Sqft : $697.21
  • 5 Days on Market
  • MLS # : 21680190
  • Updated Date : 01/13/2021 at 22:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,150 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Encino-sherman Oa

Listing Agent's Description

Stunning home w attached guest unit in prime Hollywood Hills! Hedged garden allows for complete privacy & leads to the single story main house where upon entry you'll find a very open floor plan w light pouring in thru the windows, vaulted ceilings, fully automated smart house (control lights & music w an app!), an entertainer's dream w amazing indoor/outdoor flow, & designer finishes! Living room w fp leads to a chef's kitchen w quartz countertops & SS Jenn-Air appliances. Main bedroom & en suite has large shower & separate soaking tub. Oak hardwood floors throughout, new water softener, paid off solar panels, 220V charger, no expense was spared! Guest unit (3rd bedroom) w full bath & kitchen is not connected internally, has separate entrance, can Airbnb, or rent out for add'l income! Multiple outdoor decks w amazing views, fruit trees, & privacy allowing for California living at its finest. 8/10 School district! Main house 2bd/2ba (third room was opened up but can be closed again).

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MARKET HIGHLIGHTS

  • 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]
  • 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)

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
 

$1,349,100$1,648,900$1,499,000

PURCHASE PRICE

$5,184$6,336$5,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,760
EXPENSES Loan Payment -$5,207
Property Tax -$1,524
Property Insurance -$79
Property Management Fees -$282
CASH FLOW
-$1,331

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.

$1,499,000

PROJECTED PRICE

$5,760

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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k$40k

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$402,985

INVESTMENT

$402,985

Down Payment
$374,750
Rehab Estimate
$5,750
Closing Costs
$22,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,207

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $374,750
Loan Amount $1,124,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$17,102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,760

    LIST RENT
  • $2.68

    LIST RENT PER SQFT
  • $5,106

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,9503$5,760
$5,760
RENT COMPS ANALYSIS
  • 3260 Hillock Drive Los Angeles, CA 3
    • 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 1938 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 1938
    • Rent
    • Rent Per SQFT
    •  
    • $5,760
    • $2.68
    •  
  • 720 N Rose Street Burbank, CA 1
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1941
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.27
    •  
  • 6750 Wedgewood Place Los Angeles, CA 2
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1923 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1923
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $2.48
    •  
PROPERTY LISTING DETAILS
Victoria Cruz-christian
Keller Williams Realty Encino-sherman Oa
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21680190
Last Updated: 01/13/2021
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