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5940 Barton Avenue Los Angeles, CA 90038

3 Beds 3 Baths 1,790 sqft Built 2009

$899,000

List Price

$4,740

$4.5K - $5K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $502.23
  • 4 Days on Market
  • MLS # : 21683240
  • Updated Date : 01/21/2021 at 12:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,790 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

A modern architectural in the heart of Hollywood at an incredible value. One of only 4 homes in a gated small lot complex. Central location moments from Paramount, Larchmont, Arclight & the new Netflix complex on Vine. Situated at the south end of the complex w/ no common walls. Bright, spacious 3-level layout anchored by impressive living rm w/ 12 ft ceilings, hardwd flrs, large skylight & gas burning fireplce. Wired for 5.1 audio, the rm opens onto a large outdoor patio perfect for a BBQ & outdoor entertaining. The ktchn features s/s apps, ample cabinet & pantry space & a cozy dining area. Primary bedrm suite occupies the entire upper level w/ vus of Hwd Hills. 2 walk-in closets & a luxe master bath w/ soaking jet tub. Current owners are editors and use both large guest bedrms as editing suites. Laundry area w/ full capacity W/D. Dual-zone HVAC with NEST, secure gated entry & covered carport w/ space for up to 4 vehicles & direct access into the home. And no HOA fees!

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MARKET HIGHLIGHTS

  • 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)
  • 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]

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
Vine Street Elementary School Primary Regular 527 22 2
Hubert Howe Bancroft Middle School Middle Regular 834 33 3
Fairfax Senior High School High Regular 2,101 83 6

Vine Street Elementary School

  • Education Level: Primary
  • # of students: 527
  • # of teachers: 22
2
GreatSchools Rating

Hubert Howe Bancroft Middle School

  • Education Level: Middle
  • # of students: 834
  • # of teachers: 33
3
GreatSchools Rating

Fairfax Senior High School

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

$809,100$988,900$899,000

PURCHASE PRICE

$4,266$5,214$4,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,740
EXPENSES Loan Payment -$3,123
Property Tax -$905
Property Insurance -$70
Property Management Fees -$232
CASH FLOW
$410

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.

$899,000

PROJECTED PRICE

$4,740

PROJECTED RENT

0.53%

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$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k

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$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$116,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,740

    LIST RENT
  • $2.65

    LIST RENT PER SQFT
  • $4,014

    COMP ESTIMATED VALUE
  • $2.24

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,8003$4,0004$4,5955$4,740
$4,740
RENT COMPS ANALYSIS
  • 5940 Barton Avenue Los Angeles, CA 5
    • 3 beds 3 baths ∙ 1,790 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,790 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $4,740
    • $2.65
    •  
  • 4822 Elmwood Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2011
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.11
    •  
  • 5057 Maplewood Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2008
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.10
    •  
  • 6032 Romaine Street Los Angeles, CA 3
    • 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 2019
    LEASED 12/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.35
    •  
  • 6226 Lexington Avenue Los Angeles, CA 4
    • 3 beds 4 baths ∙ 1,906 Sqft ∙ Built 2019 3 beds 4 baths ∙ 1,906 Sqft ∙ Built 2019
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $2.41
    •  
PROPERTY LISTING DETAILS
Geoff Clark
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21683240
Last Updated: 01/21/2021
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