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637 Robinson Street Los Angeles, CA 90026

3 Beds 3 Baths 1,665 sqft Built 1922

$1,425,000

List Price

$4,630

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
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.

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $199k1127k

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

Neighborhood: Silver Lake

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844570

* 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
Micheltorena Street Elementary School Primary Regular 328 16 6
Virgil Middle School Middle Regular 904 43 5
Belmont Senior High School High Regular 978 49 4

Micheltorena Street Elementary School

  • Education Level: Primary
  • # of students: 328
  • # of teachers: 16
6
GreatSchools Rating

Virgil Middle School

  • Education Level: Middle
  • # of students: 904
  • # of teachers: 43
5
GreatSchools Rating

Belmont Senior High School

  • Education Level: High
  • # of students: 978
  • # of teachers: 49
4
GreatSchools Rating
 

$1,282,500$1,567,500$1,425,000

PURCHASE PRICE

$4,167$5,093$4,630

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$383,375

INVESTMENT

$383,375

Down Payment
$356,250
Rehab Estimate
$5,750
Closing Costs
$21,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,950

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $356,250
Loan Amount $1,068,750
See What Happens When You Reinvest Cash Flow

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
$2,790
1$2,7902$3,0003$3,2504$4,5005$4,630
$4,630
RENT COMPS ANALYSIS
  • 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
Ryan King
Nourmand & Associates-bh
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21759330
Last Updated: 07/13/2021
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