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3838 Portola Avenue Los Angeles, CA 90032

3 Beds 2 Baths 1,450 sqft Built 1918

$858,000

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1918
  • Price/Sqft : $591.72
  • 3 Days on Market
  • MLS # : CV21040420
  • Updated Date : 02/27/2021 at 11:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

300 Realty

Listing Agent's Description

You will immediately appreciate the charming curb appeal this home offers that is centered around the gorgeous city of El Sereno. This home has an open floor living space, perfect for any family. Upon entry, you're welcomed by a sizable living and dining area that can comfortably accommodate a large family and their guest that defines the meaning of "home sweet home". This 3 bedrooms and 2 bathroom home has been tastefully remodeled with a modern touch of elegance. This home also features generously sized bedrooms that can easily fit a king-size bed. This house simply offers unlimited space and opportunities for multiple uses. The kitchen boasts with new counter tops, stainless steel appliances, an indoor laundry room, and an abundant storage room and space. The master bedroom has a nice size bathroom with a walk in shower . Let's not forget about the spacious backyard that will entertain all your guests and offer peaceful retreat. The neighborhood of El Sereno has become the most popular it has ever been and this is an unbelievable opportunity to become part of the culture here. Near phenomenal local shopping, dining, and events just minutes away.

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MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: El Sereno

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $151k725k

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

Neighborhood: El Sereno

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16373316

* 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
El Sereno Middle School Middle Regular 1,276 65 4
Abraham Lincoln Senior High School High Regular 1,219 54 5
Woodrow Wilson Senior High School High Regular 1,624 88 4

El Sereno Middle School

  • Education Level: Middle
  • # of students: 1,276
  • # of teachers: 65
4
GreatSchools Rating

Abraham Lincoln Senior High School

  • Education Level: High
  • # of students: 1,219
  • # of teachers: 54
5
GreatSchools Rating

Woodrow Wilson Senior High School

  • Education Level: High
  • # of students: 1,624
  • # of teachers: 88
4
GreatSchools Rating
 

$772,200$943,800$858,000

PURCHASE PRICE

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$2,980
Property Tax -$899
Property Insurance -$62
Property Management Fees -$149
CASH FLOW
-$1,050

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.

$858,000

PROJECTED PRICE

$3,040

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.9%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$233,120

INVESTMENT

$233,120

Down Payment
$214,500
Rehab Estimate
$5,750
Closing Costs
$12,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,980

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $214,500
Loan Amount $643,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,630

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,040

    LIST RENT
  • $2.1

    LIST RENT PER SQFT
  • $3,545

    COMP ESTIMATED VALUE
  • $2.45

    COMP AVG. RENT PER SQFT
Comps Range
$3,040
1$3,0402$3,2003$3,3004$3,3005$3,495
$3,495
RENT COMPS ANALYSIS
  • 3838 Portola Avenue El Sereno, CA 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1918 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1918
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $2.10
    •  
  • 1027 Doran Street South Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1905 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1905
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.38
    •  
  • 1033 Palm Avenue South Pasadena, CA 3
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1905 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1905
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.54
    •  
  • 830 Bonita Drive South Pasadena, CA 4
    • 4 beds 3 baths ∙ 1,399 Sqft ∙ Built 1925 4 beds 3 baths ∙ 1,399 Sqft ∙ Built 1925
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.36
    •  
  • 3540 Locke Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1910 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1910
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.50
    •  
PROPERTY LISTING DETAILS
Edwin Hernandez
300 Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21040420
Last Updated: 02/27/2021
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