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3715 San Marino Street #106 Los Angeles, CA 90019

3 Beds 3 Baths 1,730 sqft Built 2017

$949,500

List Price

$3,540

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $548.84
  • 4 Days on Market
  • MLS # : 21676138
  • Updated Date : 01/08/2021 at 22:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,730 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Larchmont

Listing Agent's Description

Tucked away behind lush privacy hedges, modern living and high-end design intersect in this exquisite retreat boasting a sprawling 875 sqft wraparound patio ideal for lounging and dining. An entertainer's dream, this luxurious and bright open concept 3bd/3ba residence features floor-to-ceiling windows and a plethora of 2021s creature comforts. The show-stopping chefs kitchen is equipped with Bertazonni appliances, grand center island, and walk-in pantry. Unpack your bags in a generous walk-in closet maximized with cabinetry and unwind in your peaceful master suite, a private haven outfitted with a lavish bath and delightful balcony. Effortlessly turnkey and tech-forward, enjoy fiber-optic wifi, double-duty smart laundry, Nest, smart home wiring, and built-in security. Centrally-located, this Hancock Park adjacent unit has it all-thoughtful built-ins + storage, an elegant murphy bed, living room "fireplace", outdoor seating, 2 dedicated underground parking spaces, and Club House access.

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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: Wilshire Center - Koreatown

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $153k867k

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

Neighborhood: Wilshire Center - Koreatown

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17184102

* 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
Wilton Place Elementary School Primary Regular 780 37 4
John Burroughs Middle School Middle Regular 1,849 66 6
Los Angeles Senior High High Regular 1,422 76 3

Wilton Place Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 37
4
GreatSchools Rating

John Burroughs Middle School

  • Education Level: Middle
  • # of students: 1,849
  • # of teachers: 66
6
GreatSchools Rating

Los Angeles Senior High

  • Education Level: High
  • # of students: 1,422
  • # of teachers: 76
3
GreatSchools Rating
 

$854,550$1,044,450$949,500

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$3,298
Property Tax -$956
Property Insurance -$69
HOA -$440
Property Management Fees -$173
CASH FLOW
-$1,396

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$949,500

PROJECTED PRICE

$3,540

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$257,368

INVESTMENT

$257,368

Down Payment
$237,375
Rehab Estimate
$5,750
Closing Costs
$14,243

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,298

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,375
Loan Amount $712,125
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,540

    LIST RENT
  • $2.05

    LIST RENT PER SQFT
  • $3,620

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,4003$3,5004$3,5005$3,540
$3,540
RENT COMPS ANALYSIS
  • 3715 San Marino Street Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $3,540
    • $2.05
    •  
  • 848 Irolo Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2008
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.00
    •  
  • 926 S Manhattan Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2005
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.19
    •  
  • 709 S Manhattan Place Los Angeles, CA 3
    • 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 4
    • 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
    •  
PROPERTY LISTING DETAILS
Tiffany Chin
Keller Williams Larchmont
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21676138
Last Updated: 01/08/2021
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