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6915 N Tierno Lane Los Angeles, CA 90038

4 Beds 3 Baths 2,210 sqft Built 2020

$1,295,000

List Price

$4,990

$4.7K - $5.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $585.97
  • 5 Days on Market
  • MLS # : 21689032
  • Updated Date : 02/04/2021 at 13:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,210 sqft
  • Baths : 3 full
Listing Agent

Strategic Sales And Marketing Group Inc

Listing Agent's Description

Move-In ready, NEW at Sol Hollywood. We just released this very popular Plan 5 with a huge roof top deck of approx 783 sf of outdoor living. Tons of light with four bedrooms, one en-suite at the entry level and three upstairs. Great room design with a fabulous kitchen, tons of European cabinetry and quartz countertops, and Bosch appliances. Generous sized owners suite with a huge walk in shower, dual sinks with quartz countertops, porcelain tile floors and large walk in closet. Ideal location for panoramic views ranging from the iconic Hollywood sign, Griffith's observatory, city lights and the Hollywood Hills *pictures are of actual home we have model homes and other plans available.

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: Central Hollywood

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $187k1184k

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

Neighborhood: Central Hollywood

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $16034063

* 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
Hubert Howe Bancroft Middle School Middle Regular 834 33 3
Hollywood Senior High School High Regular 1,552 67 6

Hubert Howe Bancroft Middle School

  • Education Level: Middle
  • # of students: 834
  • # of teachers: 33
3
GreatSchools Rating

Hollywood Senior High School

  • Education Level: High
  • # of students: 1,552
  • # of teachers: 67
6
GreatSchools Rating
 

$1,165,500$1,424,500$1,295,000

PURCHASE PRICE

$4,491$5,489$4,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,990
EXPENSES Loan Payment -$4,498
Property Tax -$1,304
Property Insurance -$80
HOA -$200
Property Management Fees -$245
CASH FLOW
-$1,337

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 8% of earned rent to cover both maintenance and periods of vacancy.

$1,295,000

PROJECTED PRICE

$4,990

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 3.00%
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-$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$345,175

INVESTMENT

$345,175

Down Payment
$323,750
Rehab Estimate
$2,000
Closing Costs
$19,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$4,498

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $323,750
Loan Amount $971,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$7,789

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,990

    LIST RENT
  • $2.26

    LIST RENT PER SQFT
  • $4,973

    COMP ESTIMATED VALUE
  • $2.25

    COMP AVG. RENT PER SQFT
Comps Range
$4,595
1$4,5952$4,9003$4,990
$4,990
RENT COMPS ANALYSIS
  • 6915 N Tierno Lane Los Angeles, CA 3
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $4,990
    • $2.26
    •  
  • 6226 Lexington Avenue Los Angeles, CA 1
    • 3 beds 4 baths ∙ 1,906 Sqft ∙ Built 2019 3 beds 4 baths ∙ 1,906 Sqft ∙ Built 2019
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $2.41
    •  
  • 826 N Mccadden Place Los Angeles, CA 2
    • 4 beds 4 baths ∙ 2,344 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,344 Sqft ∙ Built 2011
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $2.09
    •  
PROPERTY LISTING DETAILS
Janis K. Randazzo
Strategic Sales And Marketing Group Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21689032
Last Updated: 02/04/2021
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