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PROPERTY INFO
FACTS
- Single Family
- Built In 1997
- Price/Sqft : $505.62
- 3 Days on Market
- MLS # : 21685270
- Updated Date : 01/29/2021 at 15:01
CONSTRUCTION
- Beds : 3
- Floor Size : 1,778 sqft
- Baths : 2 full , 1 half
Listing Agent
Bee Investment, Inc.
Listing Agent's Description
Amazing Location in the Hancock Park. Desirable 3rd Street School District. The Opportunity to Purchase a Townhome Style Penthouse on on the Corner of South East Unit. Neighborhood is Very Quiet and Peaceful. The Convenient Location between Koreatown and Larchmont Village. The Spacious 1778 sf. Unit Features a Large kitchen by a Formal Dining Room and a Breakfast Nook on the either side. Charming Fireplace in the Living Room and Guest Bathroom in the Entry Way. Fresh Air, Sunshine, Beautiful a City View of Day and Night at The Private Sundeck on the 3rd Floor.
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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: Windsor Square
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Windsor Square
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,550 |
| EXPENSES | Loan Payment | -$3,123 |
| Property Tax | -$905 | |
| Property Insurance | -$70 | |
| HOA | -$400 | |
| Property Management Fees | -$174 | |
|
CASH FLOW
-$1,122
|
||
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.
$899,000
PROJECTED PRICE
$3,550
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 8.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$243,985
LOAN DETAILS
$3,123
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $224,750 |
| Loan Amount | $674,250 |
0.42
YEARS SAVED
$906
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,550
LIST RENT -
$2
LIST RENT PER SQFT
-
$3,809
COMP ESTIMATED VALUE -
$2.14
COMP AVG. RENT PER SQFT
Comps Range
-
350 S Norton Avenue Los Angeles, CA 4
- 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1997
- Rent
- Rent Per SQFT
- $3,550
- $2.00
-
345 S Gramercy Place Los Angeles, CA 1
- 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2013
LEASED 12/18/20- Rent
- Rent Per SQFT
- $3,500
- $2.12
-
709 S Manhattan Place Los Angeles, CA 2
- 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2013
LEASED 02/03/20- Rent
- Rent Per SQFT
- $3,500
- $2.08
-
722 S Oxford Avenue Los Angeles, CA 3
- 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2007
LEASED 07/01/20- Rent
- Rent Per SQFT
- $3,500
- $2.10
-
201 N Manhattan Place Los Angeles, CA 5
- 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2008
LEASED 12/05/20- Rent
- Rent Per SQFT
- $3,650
- $2.27
PROPERTY LISTING DETAILS
Bee Investment, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 21685270
Last Updated: 01/29/2021
