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5327 Meridian Street Highland Park, CA 90042

3 Beds 2 Baths 1,681 sqft Built 1934

$962,500

List Price

$3,340

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1934
  • Price/Sqft : $572.58
  • 33 Days on Market
  • MLS # : MB20226132
  • Updated Date : 11/24/2020 at 12:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,681 sqft
  • Baths : 2 full
Listing Agent

Century 21 Realty Masters

Listing Agent's Description

SELLER IS MOTIVATED-Fantastic opportunity in the desirable Highland Park. Investors/Developers Opportunity...Come a take a look at this home...This home has a lot to offer for the price...Home has solar panels paid in full, New kitchen, new addition master bedroom/bath, garage been converted to a ADU w/o permits, gated, closed to stores, shops, restaurants, etc.

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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: Highland Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $153k763k

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

Neighborhood: Highland Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183338

* 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
Yorkdale Elementary School Primary Regular 300 14 6
Luther Burbank Middle School Middle Regular 883 36 5
Benjamin Franklin High School High Regular 1,460 56 6

Yorkdale Elementary School

  • Education Level: Primary
  • # of students: 300
  • # of teachers: 14
6
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
 

$866,250$1,058,750$962,500

PURCHASE PRICE

$3,006$3,674$3,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,340
EXPENSES Loan Payment -$3,551
Property Tax -$987
Property Insurance -$67
Property Management Fees -$164
CASH FLOW
-$1,429

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.

$962,500

PROJECTED PRICE

$3,340

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

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$260,813

INVESTMENT

$260,813

Down Payment
$240,625
Rehab Estimate
$5,750
Closing Costs
$14,438

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,551

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $240,625
Loan Amount $721,875
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,340

    LIST RENT
  • $1.99

    LIST RENT PER SQFT
  • $3,997

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$3,340
1$3,3402$3,8503$3,9004$4,1005$4,200
$4,200
RENT COMPS ANALYSIS
  • 5327 Meridian Street Highland Park, CA 1
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1934 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1934
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,340
    • $1.99
    •  
  • 1216 Oak Hill Avenue South Pasadena, CA 2
    • 4 beds 1 baths ∙ 1,710 Sqft ∙ Built 1948 4 beds 1 baths ∙ 1,710 Sqft ∙ Built 1948
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.25
    •  
  • 4353 York Boulevard Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1932
    property image
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.44
    •  
  • 4843 Floristan Avenue Los Angeles, CA 4
    • 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 1924 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 1924
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.27
    •  
  • 327 Livermore Terrace Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1924
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.55
    •  
PROPERTY LISTING DETAILS
Pablo Cornejo
Century 21 Realty Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: MB20226132
Last Updated: 11/24/2020
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