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3903 Portola Avenue Los Angeles, CA 90032

3 Beds 2 Baths 1,260 sqft Built 1908

$825,000

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1908
  • Price/Sqft : $654.76
  • 4 Days on Market
  • MLS # : PW21012325
  • Updated Date : 01/21/2021 at 09:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,260 sqft
  • Baths : 2 full
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

This home is gorgeous inside and out with large backyard area for entertaining. 3 bedroom, 2 baths, open concept floor plan with inside laundry area. New front porch deck with modern lighting. New windows, roof, electrical, plumbing, tankless water heater, all new doors, mirrored wardrobe doors in all bedrooms, heating and air conditioning, kitchen, bathrooms, laminate floors and recessed lighting in the living room and kitchen area. The beautiful kitchen has a modern design with farm sink, quartz countertops, breakfast bar, stainless steel appliances, dishwasher, lots of cabinets and elegant lighting fixtures. The open concept is great for entertaining. Master bedroom suite has spacious bathroom with double sinks, quartz counters, modern lighting and huge walk-in shower with dual shower heads. This home has been rebuilt from the foundation up. The home was taken down to the studs, and completely rebuilt inside and out. This home is located in the very desirable El Sereno Hills area. South Pasadena is just a couple of blocks away.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

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 Elementary School Primary Regular 432 18 6
El Sereno Elementary School Middle Regular 432 18 6
Abraham Lincoln Senior High School High Regular 1,219 54 5

El Sereno Elementary School

  • Education Level: Primary
  • # of students: 432
  • # of teachers: 18
6
GreatSchools Rating

El Sereno Elementary School

  • Education Level: Middle
  • # of students: 432
  • # of teachers: 18
6
GreatSchools Rating

Abraham Lincoln Senior High School

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

$742,500$907,500$825,000

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,866
Property Tax -$857
Property Insurance -$57
Property Management Fees -$137
CASH FLOW
-$1,127

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.

$825,000

PROJECTED PRICE

$2,790

PROJECTED RENT

0.34%

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

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$224,375

INVESTMENT

$224,375

Down Payment
$206,250
Rehab Estimate
$5,750
Closing Costs
$12,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,866

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $206,250
Loan Amount $618,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$440

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $2.21

    LIST RENT PER SQFT
  • $3,015

    COMP ESTIMATED VALUE
  • $2.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,790
1$2,7902$2,8003$3,2004$3,3005$3,495
$3,495
RENT COMPS ANALYSIS
  • 3903 Portola Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1908 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1908
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $2.21
    •  
  • 5334 Oakland Street Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1923 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1923
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.33
    •  
  • 1027 Doran Street South Pasadena, CA 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1905 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1905
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.38
    •  
  • 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
    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
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.50
    •  
PROPERTY LISTING DETAILS
June Catron
T.n.g. Real Estate Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21012325
Last Updated: 01/21/2021
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