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330 S Barrington Avenue #302 Los Angeles, CA 90049

3 Beds 2 Baths 1,360 sqft Built 1963

$924,000

List Price

$4,050

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1963
  • Price/Sqft : $679.41
  • 62 Days on Market
  • MLS # : 20628930
  • Updated Date : 11/06/2020 at 11:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,360 sqft
  • Baths : 2 full
Listing Agent

Sotheby's International Realty

Listing Agent's Description

Spacious and light filled top floor 3 bedroom, 2 bath condo, close proximity to the charming shops and restaurants of coveted Brentwood Village. The Modern galley kitchen with granite counters and stainless steel appliances seamlessly transition to the dining and living areas, creating an inviting flow to the desirable open floor plan. Off the living area is a tranquil and private balcony which overlooks the pool below. The master suite features a large walk in closet and recently remodeled bathroom. Unit features hardwood floors, central air conditioning, and in unit side by side washer dryer. Also included are 2 side by side parking spaces in the secure underground gated garage. Sought after modern building amenities include a monitored gated entrance, valet parking, and community pool and gym. Barrington Park/ Rec. Center is also across the street, with tennis, basketball, baseball, children's play area and picnic tables.

SEE MORE

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: Brentwood

NeighborhoodNIR Market*CityMarket2010Year20002019200k400k600k800k1000k1200k1400k1600k1800k2000k2200kPrice in $199k2272k

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

Neighborhood: Brentwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q22000300040005000600070008000900010000Rent in $178410209

* 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
Brentwood Elementary Science Magnet School Primary Magnet 985 39 4
Paul Revere Charter Middle School Middle Charter 2,073 77 8
University Senior High School High Regular 1,763 72 7

Brentwood Elementary Science Magnet School

  • Education Level: Primary
  • # of students: 985
  • # of teachers: 39
4
GreatSchools Rating

Paul Revere Charter Middle School

  • Education Level: Middle
  • # of students: 2,073
  • # of teachers: 77
8
GreatSchools Rating

University Senior High School

  • Education Level: High
  • # of students: 1,763
  • # of teachers: 72
7
GreatSchools Rating
 

$831,600$1,016,400$924,000

PURCHASE PRICE

$3,645$4,455$4,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,050
EXPENSES Loan Payment -$3,409
Property Tax -$931
Property Insurance -$60
HOA -$695
Property Management Fees -$198
CASH FLOW
-$1,243

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.

$924,000

PROJECTED PRICE

$4,050

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.65%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.10%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$250,610

INVESTMENT

$250,610

Down Payment
$231,000
Rehab Estimate
$5,750
Closing Costs
$13,860

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,409

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $231,000
Loan Amount $693,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$925

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,050

    LIST RENT
  • $2.98

    LIST RENT PER SQFT
  • $4,338

    COMP ESTIMATED VALUE
  • $3.19

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$4,0003$4,0504$4,2955$4,500
$4,500
RENT COMPS ANALYSIS
  • 330 S Barrington Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $2.98
    •  
  • 1655 Greenfield Avenue Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,309 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,309 Sqft ∙ Built 1974
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.98
    •  
  • 330 S Barrington Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1963
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $3.49
    •  
  • 11915 Darlington Avenue Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963
    LEASED 10/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,295
    • $3.18
    •  
  • 11820 Mayfield Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1967
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.11
    •  
PROPERTY LISTING DETAILS
Caitlin Colvin
Sotheby's International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20628930
Last Updated: 11/06/2020
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