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5826 W Olympic Boulevard #201 Los Angeles, CA 90036

3 Beds 3 Baths 1,614 sqft Built 2016

$995,000

List Price

$3,930

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $616.48
  • 2 Days on Market
  • MLS # : 21698490
  • Updated Date : 02/27/2021 at 16:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,614 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Amazing move-in ready 3 bed-2.5 bath condominium located in the prestigious Miracle Mile neighborhood, minutes away from the Grove. Immaculate private corner unit with lots of natural light. Features include an open floor plan, large living room w/ fireplace and dining area, sliding doors opening to a sunny patio, modern kitchen with stainless steel appliances, recessed lighting, in-unit washer/dryer, central air & heat w/ Nest thermostat, pet friendly and garage parking for 2 cars. Retreat to a spacious master bedroom w/ a small private balcony, walk-in closet and en-suite bathroom. Also includes 2 sizable guest bed/home office with a full guest bathroom. Earthquake insurance is included with the HOA. This condo is an incredible opportunity to live in central LA and is perfect for entertaining or simply relaxing. There is so much to see and do in Miracle Mile you will never be bored.

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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: Miracle Mile

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $199k1372k

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

Neighborhood: Miracle Mile

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q220002500300035004000450050005500Rent in $17845616

* 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
Wilshire Crest Elementary School Primary Regular 221 11 2
John Burroughs Middle School Middle Regular 1,849 66 6
Fairfax Senior High School High Regular 2,101 83 6

Wilshire Crest Elementary School

  • Education Level: Primary
  • # of students: 221
  • # of teachers: 11
2
GreatSchools Rating

John Burroughs Middle School

  • Education Level: Middle
  • # of students: 1,849
  • # of teachers: 66
6
GreatSchools Rating

Fairfax Senior High School

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

$895,500$1,094,500$995,000

PURCHASE PRICE

$3,537$4,323$3,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,930
EXPENSES Loan Payment -$3,456
Property Tax -$1,002
Property Insurance -$66
HOA -$510
Property Management Fees -$193
CASH FLOW
-$1,296

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.

$995,000

PROJECTED PRICE

$3,930

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$269,425

INVESTMENT

$269,425

Down Payment
$248,750
Rehab Estimate
$5,750
Closing Costs
$14,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,456

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $248,750
Loan Amount $746,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$539

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,930

    LIST RENT
  • $2.43

    LIST RENT PER SQFT
  • $4,293

    COMP ESTIMATED VALUE
  • $2.66

    COMP AVG. RENT PER SQFT
Comps Range
$3,650
1$3,6502$3,9303$4,2004$4,2005$4,950
$4,950
RENT COMPS ANALYSIS
  • 5826 W Olympic Boulevard Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,930
    • $2.43
    •  
  • 8532 Cashio Street Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2018
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.61
    •  
  • 4630 W 18th Street Los Angeles, CA 3
    • 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 2019
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.63
    •  
  • 938 S Orange Grove Avenue Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2015
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.72
    •  
  • 155 N Hamilton Drive Beverly Hills, CA 5
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2007
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $2.69
    •  
PROPERTY LISTING DETAILS
Aouri Makhlouf
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21698490
Last Updated: 02/27/2021
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