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PROPERTY INFO
FACTS
- Single Family
- Built In 1923
- Price/Sqft : $568.18
- 5 Days on Market
- MLS # : 20666226
- Updated Date : 12/02/2020 at 17:56
CONSTRUCTION
- Beds : 3
- Floor Size : 1,298 sqft
- Baths : 1 full
Listing Agent
Berkshire Hathaway Homeservices California
Listing Agent's Description
The perfect hilltop hideaway! A secluded California Bungalow on a winding street. A wonderful compound you never want to leave. Oversized 2-car garage high ceilings + creative space. Expansive deck outside your front door, perfect indoor-outdoor vibe, sun streams thru bright windows to open LR & dining w/French drs. Fantastic kitchen w/colorful green-blue tile cntertop, ample cabinetry & SS appl. - for the chef-at-heart! 2 BRs; one used as a lounge space, the other BR is a lofted space reached by a unique wooden staircase, pitched wood-beamed ceilings & a cabin-like feel. Below the master is a useable space for guests/workspace + cabinets. To the left of the kitchen, spacious laundry rm w/W/D & 3rd BR. Large BA w/earth-toned tile completes the home. Bonus studio 4 working at home. HVAC, newer roof, fruit-bearing orange/lemon tree & the feeling of being away from it all. Close to Elephant Hill hiking trails, short distance to Figueroa St eateries like Hippo, Triple Beam Pizza & more.
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MARKET HIGHLIGHTS
- 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)
- 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: El Sereno
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: El Sereno
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,700 |
| EXPENSES | Loan Payment | -$2,721 |
| Property Tax | -$766 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$132 | |
|
CASH FLOW
-$978
|
||
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.
$737,500
PROJECTED PRICE
$2,700
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$201,188
LOAN DETAILS
$2,721
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $184,375 |
| Loan Amount | $553,125 |
0.5
YEARS SAVED
$1,475
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,700
LIST RENT -
$2.08
LIST RENT PER SQFT
-
$3,164
COMP ESTIMATED VALUE -
$2.44
COMP AVG. RENT PER SQFT
Comps Range
-
4169 Portola Avenue Los Angeles, CA 1
- 3 beds 1 baths ∙ 1,298 Sqft ∙ Built 1923 3 beds 1 baths ∙ 1,298 Sqft ∙ Built 1923
- Rent
- Rent Per SQFT
- $2,700
- $2.08
-
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
-
1033 Palm Avenue South Pasadena, CA 4
- 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1905 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1905
LEASED 10/15/20- Rent
- Rent Per SQFT
- $3,300
- $2.54
-
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
Berkshire Hathaway Homeservices California
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 20666226
Last Updated: 12/02/2020
