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PROPERTY INFO
FACTS
- Single Family
- Built In 1922
- Price/Sqft : $855.86
- 2 Days on Market
- MLS # : 21759330
- Updated Date : 07/13/2021 at 13:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,665 sqft
- Baths : 3 full
Listing Agent
Nourmand & Associates-bh
Listing Agent's Description
Prime location in Silver Lake. Walking distance to Sunset. Updated kitchen with lots of counter space. Great for cooking. Upgraded bathrooms with dual sinks and rainfall shower heads. The kitchen, living room and dining room share a spacious open floor plan with hardwood floors. The Spanish home has a massive backyard with an outdoor fire pit, a built in BBQ, dining area, plenty of space for seating and huge chefsvegetable garden. For privacy and security the home has gated parking with a turnaround driveway and security cameras covering the perimeter. Close to the 101 and ready to go. Offers due 12p Monday 7/19/2021.
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MARKET HIGHLIGHTS
- As part of Southern California area, Los Angeles market inherits all the benefits from the area.
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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 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)
- 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: Silver Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Silver Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,630 |
| EXPENSES | Loan Payment | -$4,950 |
| Property Tax | -$1,449 | |
| Property Insurance | -$67 | |
| Property Management Fees | -$227 | |
|
CASH FLOW
-$2,062
|
||
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.
$1,425,000
PROJECTED PRICE
$4,630
PROJECTED RENT
0.32%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 8.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$383,375
LOAN DETAILS
$4,950
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $356,250 |
| Loan Amount | $1,068,750 |
0.17
YEARS SAVED
$271
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,630
LIST RENT -
$2.78
LIST RENT PER SQFT
-
$3,696
COMP ESTIMATED VALUE -
$2.22
COMP AVG. RENT PER SQFT
Comps Range
-
637 Robinson Street Los Angeles, CA 5
- 3 beds 3 baths ∙ 1,665 Sqft ∙ Built 1922 3 beds 3 baths ∙ 1,665 Sqft ∙ Built 1922
![property image]()
- Rent
- Rent Per SQFT
- $4,630
- $2.78
-
124 S New Hampshire Avenue Los Angeles, CA 1
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1924
![property image]()
LEASED 10/25/20- Rent
- Rent Per SQFT
- $2,790
- $2.07
-
110 S Virgil Avenue Los Angeles, CA 2
- 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1923
![property image]()
LEASED 05/22/20- Rent
- Rent Per SQFT
- $3,000
- $2.14
-
1124 N Berendo Street Los Angeles, CA 3
- 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1936 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1936
![property image]()
LEASED 01/29/21- Rent
- Rent Per SQFT
- $3,250
- $2.24
-
141 S Serrano Avenue Los Angeles, CA 4
- 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1910 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1910
![property image]()
LEASED 08/27/20- Rent
- Rent Per SQFT
- $4,500
- $2.43
PROPERTY LISTING DETAILS
Nourmand & Associates-bh
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 21759330
Last Updated: 07/13/2021
