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646 N Cahuenga Boulevard Los Angeles, CA 90004

3 Beds 1 Baths 1,375 sqft Built 1923

$1,299,000

List Price

$4,120

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1923
  • Price/Sqft : $944.73
  • 4 Days on Market
  • MLS # : 21686102
  • Updated Date : 01/30/2021 at 15:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,375 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Ultra-charming 3 bedroom 1920's Spanish in one of the best slices of Hancock Park. This ideally located family home boasts stunning curb appeal and only gets better from there. On entry you're greeted with light-filled rooms, original, refinished oak floors, and a blend of both period charm and updated spaces. Entertain on an expansive, backyard deck surrounded by lush greenery and total privacy or take your event indoors in the formal dining room and living room, complete with Batchelder fireplace. Newer central air and heat and upgraded electrical. Two-car detached garage with long driveway has capacity for 2 additional cars in front and up to 4 cars behind the gate. Literally steps from LATC, Wilshire CC and Larchmont, plus Third Street School District.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hancock Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k400k600k800k1000k1200k1400k1600k1800k2000k2200k2400kPrice in $199k2570k

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

Neighborhood: Hancock Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500500055006000650070007500800085009000Rent in $17849032

* 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
3rd Street Elementary School Primary Regular 715 29 8
Hubert Howe Bancroft Middle School Middle Regular 834 33 3
Fairfax Senior High School High Regular 2,101 83 6

3rd Street Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 29
8
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
 

$1,169,100$1,428,900$1,299,000

PURCHASE PRICE

$3,708$4,532$4,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,120
EXPENSES Loan Payment -$4,512
Property Tax -$1,308
Property Insurance -$60
Property Management Fees -$202
CASH FLOW
-$1,962

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.

$1,299,000

PROJECTED PRICE

$4,120

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.9%
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$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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,985

INVESTMENT

$349,985

Down Payment
$324,750
Rehab Estimate
$5,750
Closing Costs
$19,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,512

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $324,750
Loan Amount $974,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$153

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,120

    LIST RENT
  • $3

    LIST RENT PER SQFT
  • $4,159

    COMP ESTIMATED VALUE
  • $3.03

    COMP AVG. RENT PER SQFT
Comps Range
$3,450
1$3,4502$4,1203$4,2504$4,5505$4,700
$4,700
RENT COMPS ANALYSIS
  • 646 N Cahuenga Boulevard Los Angeles, CA 2
    • 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1923 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1923
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,120
    • $3.00
    •  
  • 5532 Barton Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1919 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1919
    property image
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.65
    •  
  • 233 N Irving Boulevard Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1923
    property image
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.90
    •  
  • 533 N Windsor Boulevard Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1924
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,550
    • $3.25
    •  
  • 746 N Sycamore Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1922
    property image
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $3.30
    •  
PROPERTY LISTING DETAILS
Chase Campen
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21686102
Last Updated: 01/30/2021
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