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4025 Berenice Place Los Angeles, CA 90031

4 Beds 3 Baths 2,200 sqft Built 1996

$995,000

List Price

$3,530

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $452.27
  • 3 Days on Market
  • MLS # : CV20233851
  • Updated Date : 11/06/2020 at 20:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,200 sqft
  • Baths : 3 full
Listing Agent

Option One Realty

Listing Agent's Description

ATTENTION: INVESTORS, FLIPPERS, CONSTRUCTION SAVVY PROFESSIONALS, THIS IS A RARE OPPORTUNITY TO OWN A FANTASTIC HOME WITH GREAT BONES IN THE LARGELY SOUGHT AFTER QUINTESSENTIAL MT WASHINGTON AREA. NESTLED ON A HILLSIDE WITH SPECTACULAR VIEWS! GATHER YOUR INSPECTOR, DESIGNER, TOOLS & DREAMS AND HELP BRING THIS LITTLE BEAUTY BACK TO HER GLORY!

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MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Montecito Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $173k725k

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

Neighborhood: Montecito Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16353316

* 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
Latona Avenue Elementary School Primary Regular 224 10 7
Latona Avenue Elementary School Middle Regular 224 10 7
Puc Early College Academy For Leaders And Scholars High Charter 446 20 6

Latona Avenue Elementary School

  • Education Level: Primary
  • # of students: 224
  • # of teachers: 10
7
GreatSchools Rating

Latona Avenue Elementary School

  • Education Level: Middle
  • # of students: 224
  • # of teachers: 10
7
GreatSchools Rating

Puc Early College Academy For Leaders And Scholars

  • Education Level: High
  • # of students: 446
  • # of teachers: 20
6
GreatSchools Rating
 

$895,500$1,094,500$995,000

PURCHASE PRICE

$3,177$3,883$3,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,530
EXPENSES Loan Payment -$3,671
Property Tax -$1,034
Property Insurance -$80
Property Management Fees -$173
CASH FLOW
-$1,428

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.

$995,000

PROJECTED PRICE

$3,530

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$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$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$269,425

INVESTMENT

$269,425

Down Payment
$248,750
Rehab Estimate
$5,750
Closing Costs
$14,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,671

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $248,750
Loan Amount $746,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$620

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,530

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $3,278

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$3,290
1$3,2902$3,530
$3,530
RENT COMPS ANALYSIS
  • 4025 Berenice Place Los Angeles, CA 2
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,530
    • $1.60
    •  
  • 4317 Raynol Street El Sereno, CA 1
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2008
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,290
    • $1.49
    •  
PROPERTY LISTING DETAILS
Catherine Cuadra
Option One Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20233851
Last Updated: 11/06/2020
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