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4135 Berenice Avenue Los Angeles, CA 90031

4 Beds 3 Baths 1,574 sqft Built 1908

$989,000

List Price

$3,790

$3.5K - $4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1908
  • Price/Sqft : $628.34
  • 20 Days on Market
  • MLS # : 21699310
  • Updated Date : 03/18/2021 at 15:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,574 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

Restored 1909 character Craftsman secluded in prime Montecito Heights. Sitting among one of the most charming streets in the neighborhood, this period appropriate home has been updated throughout. Walk in to natural light that comes in through its original wood windows filling up the living space in an efficient manner. Original hard-wood floors, claw-foot tub bathroom, and many original built-ins brings you back in time while at the same time allowing you to entertain given its updated interior. Once you exit to the backyard begin enjoying the LA outdoors! Brand new heated and salted pool/spa and the new ADU (pool cabana) make this an entertainers oasis. Incredible home with special details all around and all in proximity to hiking trails, downtown LA, metro station, restaurants, and all new hot spots in the area.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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]
  • 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)

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
Florence Nightingale Middle School Middle Regular 716 41 4
Puc Early College Academy For Leaders And Scholars High Charter 446 20 6
Woodrow Wilson Senior High School High Regular 1,624 88 4

Florence Nightingale Middle School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 41
4
GreatSchools Rating

Puc Early College Academy For Leaders And Scholars

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

Woodrow Wilson Senior High School

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

$890,100$1,087,900$989,000

PURCHASE PRICE

$3,411$4,169$3,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,790
EXPENSES Loan Payment -$3,435
Property Tax -$1,028
Property Insurance -$65
Property Management Fees -$186
CASH FLOW
-$923

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.

$989,000

PROJECTED PRICE

$3,790

PROJECTED RENT

0.38%

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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$267,835

INVESTMENT

$267,835

Down Payment
$247,250
Rehab Estimate
$5,750
Closing Costs
$14,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,435

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $247,250
Loan Amount $741,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$9,195

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,790

    LIST RENT
  • $2.41

    LIST RENT PER SQFT
  • $4,132

    COMP ESTIMATED VALUE
  • $2.63

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$3,1003$3,7904$3,8005$4,050
$4,050
RENT COMPS ANALYSIS
  • 4135 Berenice Avenue Los Angeles, CA 3
    • 4 beds 3 baths ∙ 1,574 Sqft ∙ Built 1908 4 beds 3 baths ∙ 1,574 Sqft ∙ Built 1908
    • Rent
    • Rent Per SQFT
    •  
    • $3,790
    • $2.41
    •  
  • 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
    •  
  • 1051 Isabel Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1925
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.47
    •  
  • 5120 Baltimore Street Highland Park, CA 4
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1922
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.98
    •  
  • 4507 Berenice Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1925
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $3.09
    •  
PROPERTY LISTING DETAILS
Miguel Pedraza
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21699310
Last Updated: 03/18/2021
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