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5642 Fountain Avenue Hollywood, CA 90028

3 Beds 1 Baths 1,506 sqft Built 1918

$869,000

List Price

$3,660

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1918
  • Price/Sqft : $577.03
  • 3 Days on Market
  • MLS # : BB21040993
  • Updated Date : 02/26/2021 at 22:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,506 sqft
  • Baths : 1 full
Listing Agent

Remax Empower

Listing Agent's Description

Welcome to this Secret Garden in the City! Feel the peace and serenity in this Charming Craftsman 2 BR, Convertible Den (makes a great 3rd BR), 1.75 BA Bungalow which has so much to offer!! Custom features include a beautiful fireplace with built-in bookcases, gleaming hardwood floors, spacious formal dining room with a built-in sideboard, quality windows, doors & lighting. The kitchen features incredible cabinetry, marble countertops, linoleum floors and extra storage. The unique pantry and mudroom/laundry room are great convenient spaces. Enjoy the master bedroom which overlooks the lush backyard and is perfect with its wonderful library reading area with built-in bookcases and beautifully remodeled bathroom. The garage is now a bonus room with nice lighting and carpeting for a quiet getaway or perhaps an artist studio, but could easily be a garage again with the doors still in place. Escape to either the front or back yards with their bountiful fruit trees, native plants, flowers, herbs and vegetation offering a lush adventure for any green thumb. All this located in a great area of Hollywood on an R3 zoned lot, close to the Hollywood Freeway, the Metro & other mass transit with the possibility of development potential. Lovingly rebuilt/redone approximately 19 years ago in quality period style.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hollywood Studio District

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $153k1123k

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

Neighborhood: Hollywood Studio District

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800300032003400360038004000Rent in $14154069

* 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
Joseph Le Conte Middle School Middle Regular 900 46 3
Helen Bernstein Senior High School High Regular 638 36 2

Joseph Le Conte Middle School

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

Helen Bernstein Senior High School

  • Education Level: High
  • # of students: 638
  • # of teachers: 36
2
GreatSchools Rating
 

$782,100$955,900$869,000

PURCHASE PRICE

$3,294$4,026$3,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,660
EXPENSES Loan Payment -$3,018
Property Tax -$952
Property Insurance -$63
Property Management Fees -$179
CASH FLOW
-$553

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.

$869,000

PROJECTED PRICE

$3,660

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 13.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$236,035

INVESTMENT

$236,035

Down Payment
$217,250
Rehab Estimate
$5,750
Closing Costs
$13,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,018

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $217,250
Loan Amount $651,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$20,951

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,660

    LIST RENT
  • $2.43

    LIST RENT PER SQFT
  • $3,422

    COMP ESTIMATED VALUE
  • $2.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9903$3,6604$3,9005$4,050
$4,050
RENT COMPS ANALYSIS
  • 5642 Fountain Avenue Hollywood, CA 3
    • 3 beds 1 baths ∙ 1,506 Sqft ∙ Built 1918 3 beds 1 baths ∙ 1,506 Sqft ∙ Built 1918
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,660
    • $2.43
    •  
  • 5253 Fountain Ave Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1919 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1919
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.93
    •  
  • 5666 W Lexington Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1920 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1920
    property image
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.99
    •  
  • 1125 N Heliotrope Drive Los Angeles, CA 4
    • 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1919 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1919
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.41
    •  
  • 1630 Winona Boulevard Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1913 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1913
    property image
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $2.76
    •  
PROPERTY LISTING DETAILS
Kim Villalobos
Remax Empower
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: BB21040993
Last Updated: 02/26/2021
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