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6108 S La Cienega Boulevard Los Angeles, CA 90056

3 Beds 2 Baths 1,776 sqft Built 1951

$990,000

List Price

$4,000

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $557.43
  • 4 Days on Market
  • MLS # : 21703444
  • Updated Date : 03/11/2021 at 11:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,776 sqft
  • Baths : 2 full
Listing Agent

The Crem Group

Listing Agent's Description

Dont miss this adorable, spacious and well-maintained home in "Old Ladera," an unincorporated area of LA County (not LA City). The home is situated in an incredibly charming/pride-of-ownership neighborhood near excellent elementary and high schools and West Los Angeles College. Great floor plan including living room, formal dining room, den, hallway, large kitchen & kitchenette. The home includes three bedrooms, one of which is an incredibly large master bedroom, two bathrooms and a bonus den/office, which can be converted into fourth bedroom. Plenty of storage space, closets and shelves. Plantation shutters throughout, recessed lighting, skylight, fireplaces in both living and master bedroom. Detached two car garage offers secure parking and ADU potential. The property also has a lemon tree and backyard with grass; great for entertaining. Alarm system in place and original hardwood floors underneath carpet in most rooms of the home. Excellent location! Near Westchester, Culver City, & Marina Del Rey. Minutes from UCLA/Westwood. Easy access to 405 freeway, LAX & major new sports stadium. Come see this gorgeous home before it's gone!

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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)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ladera Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $199k1373k

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

Neighborhood: Ladera Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q22000250030003500400045005000Rent in $17845404

* 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
Inglewood High School High Regular 1,207 56 3

Inglewood High School

  • Education Level: High
  • # of students: 1,207
  • # of teachers: 56
3
GreatSchools Rating
 

$891,000$1,089,000$990,000

PURCHASE PRICE

$3,600$4,400$4,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,000
EXPENSES Loan Payment -$3,439
Property Tax -$1,084
Property Insurance -$70
Property Management Fees -$196
CASH FLOW
-$788

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.

$990,000

PROJECTED PRICE

$4,000

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 10.0%
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$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k

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$268,100

INVESTMENT

$268,100

Down Payment
$247,500
Rehab Estimate
$5,750
Closing Costs
$14,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,439

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $247,500
Loan Amount $742,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$14,887

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,000

    LIST RENT
  • $2.25

    LIST RENT PER SQFT
  • $4,014

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,4503$3,9504$4,0005$4,000
$4,000
RENT COMPS ANALYSIS
  • 6108 S La Cienega Boulevard Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.25
    •  
  • 5845 Doverwood Drive Culver City, CA 1
    • 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1970
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.19
    •  
  • 6425 Green Valley Circle Culver City, CA 2
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1970
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.26
    •  
  • 6102 Acacia Street Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1948
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.34
    •  
  • 5577 Onacrest Drive Los Angeles, CA 4
    • 4 beds 3 baths ∙ 1,778 Sqft ∙ Built 1940 4 beds 3 baths ∙ 1,778 Sqft ∙ Built 1940
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.25
    •  
PROPERTY LISTING DETAILS
Mark Cianciulli
The Crem Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21703444
Last Updated: 03/11/2021
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