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PROPERTY INFO
FACTS
- Single Family
- Built In 1947
- Price/Sqft : $837.34
- 73 Days on Market
- MLS # : P1-2079
- Updated Date : 01/07/2021 at 13:03
CONSTRUCTION
- Beds : 3
- Floor Size : 1,789 sqft
- Baths : 2 full
Listing Agent
Keller Williams Realty
Listing Agent's Description
This renovated home in a fabulous Mar Vista neighborhood features the modern, open floor plan so desired by today's buyer. Entering the home through the front door, one is immediately struck by the glistening hardwood floors. These solid riftsawn oak floors sparkle in much of the home. A bay window w/ a bench seat below allows natural light to fill the front of the home. The remodeled kitchen showcases white countertops, modern cabinets, stainless steel appliances, & a gas stove & hood. The 2 bedrooms at the front of the house feature ample closet space, natural light through the windows & have access to the hallway bathroom. This front bathroom has a separate tub & stall shower. The primary suite at the back of the home is a wonderful retreat. Passing from the sitting area into the bedroom suite, one is impressed by the vaulted ceiling w/ an exposed wood beam, the recessed lighting, the newer ceiling fan, a marble tile floor, & a gas fireplace. The attached bathroom has a tiled, walk-in shower. This bedroom suite also has its own door to the side & back yard. There is great curb appeal as this professionally landscaped home features a beautiful driveway w/ pavers, a privacy fence and grassy areas in the front and back yard w/ automatic sprinklers. Don't miss out on the opportunity to own in this charming Mar Vista neighborhood so accessible to the beach, the shops, the restaurants and more.
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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: Mar Vista
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mar Vista
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $4,950 |
EXPENSES | Loan Payment | -$5,203 |
Property Tax | -$1,509 | |
Property Insurance | -$70 | |
Property Management Fees | -$243 | |
CASH FLOW
-$2,074
|
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.
$1,498,000
PROJECTED PRICE
$4,950
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 4.56% |
Appreciation Year (1-5) | 12.2% |
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
$402,720
LOAN DETAILS
$5,203
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 3.75% |
Down Payment | $374,500 |
Loan Amount | $1,123,500 |
0.25
YEARS SAVED
$596
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,950
LIST RENT -
$2.77
LIST RENT PER SQFT
-
$5,063
COMP ESTIMATED VALUE -
$2.83
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Keller Williams Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: P1-2079
Last Updated: 01/07/2021