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5057 Maplewood Avenue #202 Los Angeles, CA 90004

3 Beds 3 Baths 1,810 sqft Built 2008

$895,000

List Price

$3,870

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $494.48
  • 7 Days on Market
  • MLS # : 21687466
  • Updated Date : 02/01/2021 at 14:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,810 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prime Properties

Listing Agent's Description

Large, elegant luxury condo unit in one of the most desirable location for sale!!! This "1,810 sq. ft." condo unit features an open floor plan with 3 beds and 2.5 bath, high ceilings through out, dark cherry wood & travertine flooring, built-in refrigerator, custom dark wood kitchen cabinet, walk in pantry, top of the line stainless appliances, spacious master suite with walk-in closet, formal dining area, cozy fire place in the living room, dual panel windows through out and much more... HOA dues Include water, trash, common area maintenance and also the earthquake insurance. This property is located in adjacent to Hancock Park, minutes to Koreatown, Larchmont village & Hollywood. Please check out 3D Virtual Tour and call it "HOME".

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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: Larchmont

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $187k1632k

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

Neighborhood: Larchmont

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000420044004600Rent in $16354751

* 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
Van Ness Avenue Elementary School Primary Regular 263 14 6
Joseph Le Conte Middle School Middle Regular 900 46 3
Fairfax Senior High School High Regular 2,101 83 6

Van Ness Avenue Elementary School

  • Education Level: Primary
  • # of students: 263
  • # of teachers: 14
6
GreatSchools Rating

Joseph Le Conte Middle School

  • Education Level: Middle
  • # of students: 900
  • # of teachers: 46
3
GreatSchools Rating

Fairfax Senior High School

  • Education Level: High
  • # of students: 2,101
  • # of teachers: 83
6
GreatSchools Rating
 

$805,500$984,500$895,000

PURCHASE PRICE

$3,483$4,257$3,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,870
EXPENSES Loan Payment -$3,109
Property Tax -$901
Property Insurance -$70
HOA -$550
Property Management Fees -$190
CASH FLOW
-$950

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.

$895,000

PROJECTED PRICE

$3,870

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 13.5%
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-$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$242,925

INVESTMENT

$242,925

Down Payment
$223,750
Rehab Estimate
$5,750
Closing Costs
$13,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,109

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $223,750
Loan Amount $671,250
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$3,599

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,870

    LIST RENT
  • $2.14

    LIST RENT PER SQFT
  • $3,873

    COMP ESTIMATED VALUE
  • $2.14

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5003$3,6504$3,8005$3,870
$3,870
RENT COMPS ANALYSIS
  • 5057 Maplewood Avenue Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $3,870
    • $2.14
    •  
  • 4822 Elmwood Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2011
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.11
    •  
  • 4947 Rosewood Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2011
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.08
    •  
  • 201 N Manhattan Place Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2008
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.27
    •  
  • 5057 Maplewood Avenue Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2008
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.10
    •  
PROPERTY LISTING DETAILS
Thomas J. Lee
Prime Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21687466
Last Updated: 02/01/2021
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