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533 N Lewis Street Los Angeles, CA 90042

3 Beds 3 Baths 2,000 sqft Built 2021

$1,300,000

List Price

$4,350

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $650.00
  • 3 Days on Market
  • MLS # : 21707870
  • Updated Date : 03/19/2021 at 16:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,000 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Studio City

Listing Agent's Description

Located on a corner lot in the highly desired sought out area of Garvanza Hills in Highland Park. This newly constructed tri-level modern contemporary home that is refined for both private entertaining, with a plethora of seclusion and casual living. The bright, new 3 bedrooms and 3 bathrooms offers variety of high end finishes throughout. With its engineered wood floor matched along open concept custom kitchen cabinetry. To its awning expansive windows that take you through the wrap around views! All so quiet and peaceful!

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: Garvanza

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $187k808k

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

Neighborhood: Garvanza

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400Rent in $16353436

* 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
Luther Burbank Middle School Middle Regular 883 36 5
Benjamin Franklin High School High Regular 1,460 56 6

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
 

$1,170,000$1,430,000$1,300,000

PURCHASE PRICE

$3,915$4,785$4,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,350
EXPENSES Loan Payment -$4,515
Property Tax -$1,351
Property Insurance -$75
Property Management Fees -$213
CASH FLOW
-$1,804

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 8% of earned rent to cover both maintenance and periods of vacancy.

$1,300,000

PROJECTED PRICE

$4,350

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 3.00%
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$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$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$4.0M$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$346,500

INVESTMENT

$346,500

Down Payment
$325,000
Rehab Estimate
$2,000
Closing Costs
$19,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,515

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $325,000
Loan Amount $975,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,350

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $4,370

    COMP ESTIMATED VALUE
  • $2.19

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$4,3503$4,800
$4,800
RENT COMPS ANALYSIS
  • 533 N Lewis Street Los Angeles, CA 2
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $2.18
    •  
  • 1317 Lyndon Street South Pasadena, CA 1
    • 4 beds 3 baths ∙ 2,027 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,027 Sqft ∙ Built 2005
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.92
    •  
  • 132 S Beech Highland Park, CA 3
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2019
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.45
    •  
PROPERTY LISTING DETAILS
Maritza Orozco
Keller Williams Studio City
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21707870
Last Updated: 03/19/2021
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