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331 N La Fayette Park Place Los Angeles, CA 90026

3 Beds 4 Baths 2,041 sqft Built 2021

$1,179,000

List Price

$4,340

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $577.66
  • 7 Days on Market
  • MLS # : 21689752
  • Updated Date : 02/10/2021 at 05:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,041 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty Los Feliz

Listing Agent's Description

Introducing "The 9's." Picture-perfect, brand new Modern homes perched majestically above the street on the edge of vibrant Silver Lake. Boasting 3BD/3.5BA, the elegant residences are designed with style and incredible attention to detail. On the main living level, find the spacious living area, dining area and HUGE cooks kitchen with stainless steel appliances and large breakfast bar - creating the perfect setting for entertaining. Upstairs find 2 large bedrooms - each with an en-suite bath including the spacious primary suite with walk-in-closet and spa-like bath retreat with stall shower, dual sink vanity and designer touches. On the ground floor, find another suite with its own entrance - perfect for a home office/gym/guest quarters. An incredible private roof deck w/outdoor kitchen + 360-degree jetliner views of LA creates the ideal setting for dining al fresco. 2-car attached garage, multi-zone HVAC system. Minutes from Woon, Pooridge + Puffs, 101 fwy, DTLA, Sunset Junction and more.

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: Historic Filipinotown

ZipNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $153k957k

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

Neighborhood: Historic Filipinotown

ZipNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17184126

* 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
Rosemont Avenue Elementary School Primary Regular 456 21 2
Virgil Middle School Middle Regular 904 43 5
Belmont Senior High School High Regular 978 49 4

Rosemont Avenue Elementary School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 21
2
GreatSchools Rating

Virgil Middle School

  • Education Level: Middle
  • # of students: 904
  • # of teachers: 43
5
GreatSchools Rating

Belmont Senior High School

  • Education Level: High
  • # of students: 978
  • # of teachers: 49
4
GreatSchools Rating
 

$1,061,100$1,296,900$1,179,000

PURCHASE PRICE

$3,906$4,774$4,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,340
EXPENSES Loan Payment -$4,095
Property Tax -$1,187
Property Insurance -$76
Property Management Fees -$213
CASH FLOW
-$1,231

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 7% of earned rent to cover both maintenance and periods of vacancy.

$1,179,000

PROJECTED PRICE

$4,340

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 3.00%
Vacancy 4.14%
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$314,435

INVESTMENT

$314,435

Down Payment
$294,750
Rehab Estimate
$2,000
Closing Costs
$17,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,095

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $294,750
Loan Amount $884,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$6,902

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,340

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $5,123

    COMP ESTIMATED VALUE
  • $2.51

    COMP AVG. RENT PER SQFT
Comps Range
$4,340
1$4,3402$4,500
$4,500
RENT COMPS ANALYSIS
  • 331 N La Fayette Park Place Los Angeles, CA 1
    • 3 beds 4 baths ∙ 2,041 Sqft ∙ Built 2021 3 beds 4 baths ∙ 2,041 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,340
    • $2.13
    •  
  • 1005 Figueroa Terrace Los Angeles, CA 2
    • 3 beds 4 baths ∙ 1,791 Sqft ∙ Built 2002 3 beds 4 baths ∙ 1,791 Sqft ∙ Built 2002
    property image
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.51
    •  
PROPERTY LISTING DETAILS
Grant Linscott
Keller Williams Realty Los Feliz
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21689752
Last Updated: 02/10/2021
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