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651 Dimmick Drive Los Angeles, CA 90065

3 Beds 2 Baths 1,921 sqft Built 1992

$1,198,000

List Price

$4,360

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $623.63
  • 3 Days on Market
  • MLS # : 20667378
  • Updated Date : 12/04/2020 at 15:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,921 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices California

Listing Agent's Description

These days having enough space is less of a luxury and more of a necessity and you will find plenty here. The open living area with high vaulted ceilings is flooded with natural light and looks out to lush pretty views. Step through the sliding glass door on to the view deck where you can dine al-fresco or soak in some sun. The updated kitchen has plenty of counter space professional grade stainless appliances and a signature mural. The main floor bedroom opens to the deck and could easily be converted to an in home office. Youll spend a lot of time in the bonus media/family room with wet bar where you can kick back relax and enjoy the latest releases in the comfort and safety of your own home! A wonderful master suite exits to a lovely deck and has a walk in closet and a beautifully updated bath with double sinks and artisan tile. Walk down the steps to a back yard with loads of potential for those who love to garden. Now more than ever there is truly no place like home. Enjoy!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Mount Washington Elementary School Primary Regular 409 17 7
Mount Washington Elementary School Middle Regular 409 17 7
Benjamin Franklin High School High Regular 1,460 56 6

Mount Washington Elementary School

  • Education Level: Primary
  • # of students: 409
  • # of teachers: 17
7
GreatSchools Rating

Mount Washington Elementary School

  • Education Level: Middle
  • # of students: 409
  • # of teachers: 17
7
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

$3,924$4,796$4,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,360
EXPENSES Loan Payment -$4,420
Property Tax -$1,245
Property Insurance -$73
Property Management Fees -$214
CASH FLOW
-$1,591

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

$4,360

PROJECTED RENT

0.36%

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

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$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$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 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,500
Loan Amount $898,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,360

    LIST RENT
  • $2.27

    LIST RENT PER SQFT
  • $4,412

    COMP ESTIMATED VALUE
  • $2.3

    COMP AVG. RENT PER SQFT
Comps Range
$3,700
1$3,7002$4,1003$4,3604$4,750
$4,750
RENT COMPS ANALYSIS
  • 651 Dimmick Drive Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,921 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,921 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $4,360
    • $2.27
    •  
  • 714 Sunnyhill Drive Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1992
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.24
    •  
  • 4453 Palmero Drive Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1973
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.16
    •  
  • 756 Quail Drive Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 1993
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.49
    •  
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 #: 20667378
Last Updated: 12/04/2020
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