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3903 Portola Avenue Los Angeles, CA 90032

3 Beds 2 Baths 1,260 sqft Built 1908

$824,888

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1908
  • Price/Sqft : $654.67
  • 4 Days on Market
  • MLS # : WS21002585
  • Updated Date : 01/07/2021 at 09:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,260 sqft
  • Baths : 2 full
Listing Agent

New Neighbor Properties

Listing Agent's Description

This delightful and sophisticated 3 bedroom 2 bath modern style home located in the coveted El Sereno Hills has been thoughtfully remodeled with your dream home in mind. As you enter from the custom new deck, you'll notice the unique light fixtures lighting your way to the new laminate hardwood floors, and the recessed lighting running throughout the kitchen and living room. An open floor plan seamlessly integrating the living and dining areas, making it perfect for entertaining. Other improvements include updated bathrooms and kitchen with stainless steel appliances, windows, roof, electrical, plumbing and central heat & air. No detail was forgotten! The new wooden fence allows for privacy when hosting on the freshly sodded back yard. Centrally located with easy access to Shops, Eateries and Cafes in Alhambra, South Pasadena, Highland Park and DTLA. You can be part of this amazing neighborhood and all it has to offer!

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: 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
 

$742,399$907,377$824,888

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$2,865
Property Tax -$857
Property Insurance -$57
Property Management Fees -$140
CASH FLOW
-$1,060

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.

$824,888

PROJECTED PRICE

$2,860

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

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$224,345

INVESTMENT

$224,345

Down Payment
$206,222
Rehab Estimate
$5,750
Closing Costs
$12,373

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,865

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $206,222
Loan Amount $618,666
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$951

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $2.27

    LIST RENT PER SQFT
  • $2,889

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8003$2,8604$3,2005$3,495
$3,495
RENT COMPS ANALYSIS
  • 3903 Portola Avenue Los Angeles, CA 3
    • 3 beds 1 baths ∙ 1,260 Sqft ∙ Built 1908 3 beds 1 baths ∙ 1,260 Sqft ∙ Built 1908
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $2.27
    •  
  • 4612 Topaz Street Los Angeles, CA 1
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1904 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1904
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.96
    •  
  • 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 4
    • 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
    •  
  • 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
Walter Castellanos
New Neighbor Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21002585
Last Updated: 01/07/2021
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