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715 Holland Avenue Los Angeles, CA 90042

4 Beds 3 Baths 2,026 sqft Built 1923

$1,050,000

List Price

$3,670

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1923
  • Price/Sqft : $518.26
  • 5 Days on Market
  • MLS # : CV20229624
  • Updated Date : 11/01/2020 at 05:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,026 sqft
  • Baths : 2 full , 1 half
Listing Agent

La Casa Bella

Listing Agent's Description

Lovely Craftsman, anda permitted 650+ sq ft rec. room which may reconverted to an ADU with Living room kitchenette, large bedroom and private 3/4 bathroom. (see city for regulations for details) Kitchen has been upgraded, original hardwood floors, built-in dining room buffet, original closet built ins, great fruit trees and an oversized covered patio for family and friends. Don't wait this will sell fast!

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: Highland Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $153k763k

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

Neighborhood: Highland Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $17183338

* 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
Buchanan Street Elementary School Primary Regular 508 23 5
Luther Burbank Middle School Middle Regular 883 36 5
Benjamin Franklin High School High Regular 1,460 56 6

Buchanan Street Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 23
5
GreatSchools Rating

Luther Burbank Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 36
5
GreatSchools Rating

Benjamin Franklin High School

  • Education Level: High
  • # of students: 1,460
  • # of teachers: 56
6
GreatSchools Rating
 

$945,000$1,155,000$1,050,000

PURCHASE PRICE

$3,303$4,037$3,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,670
EXPENSES Loan Payment -$3,874
Property Tax -$1,091
Property Insurance -$62
Property Management Fees -$180
CASH FLOW
-$1,537

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$1,050,000

PROJECTED PRICE

$3,670

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$284,000

INVESTMENT

$284,000

Down Payment
$262,500
Rehab Estimate
$5,750
Closing Costs
$15,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,500
Loan Amount $787,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$650

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,670

    LIST RENT
  • $2.49

    LIST RENT PER SQFT
  • $3,836

    COMP ESTIMATED VALUE
  • $2.6

    COMP AVG. RENT PER SQFT
Comps Range
$3,670
1$3,6702$3,8003$3,8504$3,9005$4,200
$4,200
RENT COMPS ANALYSIS
  • 715 Holland Avenue Los Angeles, CA 1
    • 4 beds 3 baths ∙ 1,474 Sqft ∙ Built 1923 4 beds 3 baths ∙ 1,474 Sqft ∙ Built 1923
    • Rent
    • Rent Per SQFT
    •  
    • $3,670
    • $2.49
    •  
  • 5120 Baltimore Street Highland Park, CA 2
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1922
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.98
    •  
  • 430 N Avenue 54 Highland Park, CA 3
    • 4 beds 1 baths ∙ 1,576 Sqft ∙ Built 1908 4 beds 1 baths ∙ 1,576 Sqft ∙ Built 1908
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.44
    •  
  • 4353 York Boulevard Los Angeles, CA 4
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1932
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.44
    •  
  • 327 Livermore Terrace Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1924
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.55
    •  
PROPERTY LISTING DETAILS
Norma Perez-morin
La Casa Bella
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20229624
Last Updated: 11/01/2020
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