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626 Crane Boulevard Los Angeles, CA 90065

3 Beds 3 Baths 2,253 sqft Built 1999

$1,198,000

List Price

$5,200

$5K - $5.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $531.74
  • 2 Days on Market
  • MLS # : 21705216
  • Updated Date : 03/13/2021 at 21:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,253 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices California

Listing Agent's Description

Views galore, plenty of space, outdoor living and a bonus studio; who says you cant have it all? This spacious contemporary is set back from the street with a generous motor court for extra parking. The formal entry with 2 story ceilings leads to a wonderful open floor plan with stunning San Gabriel Mtn. views as a dramatic backdrop visible from every room. The living room with fireplace leads to the enormous formal dining room where you can entertain in style or access the deck and step down to the patio to dine al fresco. A cooks kitchen with professional grade appliances and breakfast area has plenty of counter space and also accesses the view deck. There is a fireplace in the luxurious master suite with breathtaking views as well as oversized double closets. The master bath has a spa tub, separate shower and 2 vanities. With so much space you could make almost any room an at home office but there is no need to as there is a wonderfully versatile bonus room on the lower level.

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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: Mount Washington

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $187k818k

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

Neighborhood: Mount Washington

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $16353845

* 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
Luther Burbank Middle School Middle Regular 883 36 5
Benjamin Franklin High School High Regular 1,460 56 6

Luther Burbank Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 36
5
GreatSchools Rating

Benjamin Franklin High School

  • Education Level: High
  • # of students: 1,460
  • # of teachers: 56
6
GreatSchools Rating
 

$1,078,200$1,317,800$1,198,000

PURCHASE PRICE

$4,680$5,720$5,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,200
EXPENSES Loan Payment -$4,161
Property Tax -$1,245
Property Insurance -$81
Property Management Fees -$255
CASH FLOW
-$542

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.

$1,198,000

PROJECTED PRICE

$5,200

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$10k$0.0$10k$20k$30k$40k

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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,220

INVESTMENT

$323,220

Down Payment
$299,500
Rehab Estimate
$5,750
Closing Costs
$17,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,161

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $299,500
Loan Amount $898,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$44,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,200

    LIST RENT
  • $2.31

    LIST RENT PER SQFT
  • $5,227

    COMP ESTIMATED VALUE
  • $2.32

    COMP AVG. RENT PER SQFT
Comps Range
$4,500
1$4,5002$4,8003$4,8004$4,9005$5,200
$5,200
RENT COMPS ANALYSIS
  • 626 Crane Boulevard Los Angeles, CA 5
    • 3 beds 3 baths ∙ 2,253 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,253 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,200
    • $2.31
    •  
  • 756 Quail Drive Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 1993
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.36
    •  
  • 132 S Beech Highland Park, CA 2
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2019
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.45
    •  
  • 3577 Kinney Street Los Angeles, CA 3
    • 4 beds 4 baths ∙ 1,998 Sqft ∙ Built 2017 4 beds 4 baths ∙ 1,998 Sqft ∙ Built 2017
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.40
    •  
  • 4670 Glenalbyn Drive Los Angeles, CA 4
    • 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 1995
    property image
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $2.07
    •  
PROPERTY LISTING DETAILS
Dan Mancinelli
Berkshire Hathaway Homeservices California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21705216
Last Updated: 03/13/2021
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