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4499 Via Marisol #120B Los Angeles, CA 90042

3 Beds 2 Baths 1,305 sqft Built 1981

$594,900

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $455.86
  • 7 Days on Market
  • MLS # : 20654516
  • Updated Date : 11/06/2020 at 09:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,305 sqft
  • Baths : 2 full
Listing Agent

Dream Realty Asset Mgt, Inc.

Listing Agent's Description

Huge patio!! Sunny views from every room!! Tasteful upgrades abound throughout this flowing 3 br/2 ba with a huge private patio, including floors and delightfully upgraded kitchen and baths. The gracious floor plan includes a formal dining area and a large living room that opens onto an expansive patio. The chef's kitchen has been thoughtfully updated with quartz counters with a glass tile backsplash, updated cabinetry, and upgraded appliances. Perfect for entertaining!! The large den/third bedroom offers a huge walk-in closet and direct access to the patio. The second bedroom offers direct patio access as well. The bathrooms feature upgraded enclosures and updated plumbing fixtures. The complex features resort-style amenities, including pool, spa, sundeck, and recreation room. Minutes from Old Pasadena, Paseo Colorado, the USC Health Sciences campus and the Gold Line!! It doesn't get better than this in Monterey Hills!!

SEE MORE

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: Monterey Hills

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $163k725k

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

Neighborhood: Monterey Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15963316

* 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
Bushnell Way Elementary School Primary Regular 343 16 2
Luther Burbank Middle School Middle Regular 883 36 5
Benjamin Franklin High School High Regular 1,460 56 6

Bushnell Way Elementary School

  • Education Level: Primary
  • # of students: 343
  • # of teachers: 16
2
GreatSchools Rating

Luther Burbank Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 36
5
GreatSchools Rating

Benjamin Franklin High School

  • Education Level: High
  • # of students: 1,460
  • # of teachers: 56
6
GreatSchools Rating
 

$535,410$654,390$594,900

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,195
Property Tax -$607
Property Insurance -$58
HOA -$472
Property Management Fees -$130
CASH FLOW
-$803

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.

$594,900

PROJECTED PRICE

$2,660

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 12.7%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,399

INVESTMENT

$163,399

Down Payment
$148,725
Rehab Estimate
$5,750
Closing Costs
$8,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,725
Loan Amount $446,175
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$465

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • $2,897

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,660
1$2,6602$2,9003$3,0004$3,1005$3,400
$3,400
RENT COMPS ANALYSIS
  • 4499 Via Marisol Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $2.04
    •  
  • 4041 Via Marisol Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1982
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.93
    •  
  • 4225 Via Arbolada Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1983
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.05
    •  
  • 422 Chestnut Avenue Highland Park, CA 4
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1977
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.48
    •  
  • 228 Monterey Road South Pasadena, CA 5
    • 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1985
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.42
    •  
PROPERTY LISTING DETAILS
Erin Kim
Dream Realty Asset Mgt, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20654516
Last Updated: 11/06/2020
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