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5826 W Olympic #301 Los Angeles, CA 90036

3 Beds 2 Baths 1,644 sqft Built 2016

$1,020,000

List Price

$4,200

$4K - $4.5K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $620.44
  • 7 Days on Market
  • MLS # : 20652688
  • Updated Date : 10/30/2020 at 10:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,644 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Downtown La

Listing Agent's Description

SOPHISTICATED REAR UNIT WITH VIEWS. The expansive main balcony overlooks the tranquil residential area surrounding it. Extremely quiet with sound proofing and only one common wall. First resale in this quaint 12 unit building. Desirable location perfectly located a few blocks from Wilshire, close to the Grove. Conveniently located and equidistant to the west side or downtown. Privacy in this corner unit perched on the 3rd floor and drowning in natural light. Great for entertaining with the living room, dining room and kitchen all coming together into one large room. The space is separated by a breakfast bar. A working fireplace compliments the space. Spacious 3 bedroom unit with over 1600 square feet. A large master suite has its own balcony and walk in closet with built ins. Sparkling modern kitchen has stainless steel appliances, and Caesarstone counters. The many modern touches include recessed lighting and hardwood floors throughout. Laundry room. Move in ready

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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: 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
 

$918,000$1,122,000$1,020,000

PURCHASE PRICE

$3,780$4,620$4,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,200
EXPENSES Loan Payment -$3,763
Property Tax -$1,027
Property Insurance -$67
HOA -$520
Property Management Fees -$206
CASH FLOW
-$1,383

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.

$1,020,000

PROJECTED PRICE

$4,200

PROJECTED RENT

0.41%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$276,050

INVESTMENT

$276,050

Down Payment
$255,000
Rehab Estimate
$5,750
Closing Costs
$15,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,763

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $255,000
Loan Amount $765,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$994

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,200

    LIST RENT
  • $2.55

    LIST RENT PER SQFT
  • $4,439

    COMP ESTIMATED VALUE
  • $2.7

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,2003$4,2504$4,5505$4,800
$4,800
RENT COMPS ANALYSIS
  • 5826 W Olympic Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.55
    •  
  • 938 S Orange Grove Avenue Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2015
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.72
    •  
  • 9049 Alcott Street Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2008
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.63
    •  
  • 8532 Cashio Street Los Angeles, CA 4
    • 3 beds 4 baths ∙ 1,600 Sqft ∙ Built 2018 3 beds 4 baths ∙ 1,600 Sqft ∙ Built 2018
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,550
    • $2.84
    •  
  • 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
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.61
    •  
PROPERTY LISTING DETAILS
Michael Maloney
Keller Williams Downtown La
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20652688
Last Updated: 10/30/2020
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