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726 Lucile Avenue Silver Lake, CA 90026

3 Beds 3 Baths 2,062 sqft Built 2017

$1,349,000

List Price

$5,120

$4.9K - $5.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $654.22
  • 24 Days on Market
  • MLS # : TR21005043
  • Updated Date : 02/09/2021 at 11:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,062 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wayfind Realty

Listing Agent's Description

A contemporary blend of architecture and luxury offered as one of 7 newer construction homes in Silverlake. This single family residence is located within a stone's throw of Sunset and Virgil's famed local coffee shops and eateries. The great room is light filled with floor to ceiling stacking doors into the back yard. Host family dinners outside or in. This open floor plan features an open kitchen with quartz counter tops, Bosch appliances, island w/ counter top seating, pantry drawers, and single bowl sink. Premium elements elevate the home further - high ceilings, glass adorned staircase, hardwood floors, floor-to-ceiling tiled fireplace, in ceiling speakers, and many more. The private master bedroom occupies the "penthouse floor" with a sweeping view of Los Angeles' growing skyline, tanning balcony, custom walk in closet, freestanding tub, dual vanity. The two additional bedrooms both have walk in closets with custom racks and ample space to function as bedroom, office, or both at once. House energy conscious with multi-zone AC, tankless water heater and prewired for EV and solar-ready.

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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: 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
Dayton Heights Elementary School Primary Regular 568 27 5
Thomas Starr King Middle School Magnet- Film And Media Middle Regular 1,811 72 7
John Marshall Senior High High Regular 2,463 91 8

Dayton Heights Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 27
5
GreatSchools Rating

Thomas Starr King Middle School Magnet- Film And Media

  • Education Level: Middle
  • # of students: 1,811
  • # of teachers: 72
7
GreatSchools Rating

John Marshall Senior High

  • Education Level: High
  • # of students: 2,463
  • # of teachers: 91
8
GreatSchools Rating
 

$1,214,100$1,483,900$1,349,000

PURCHASE PRICE

$4,608$5,632$5,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,120
EXPENSES Loan Payment -$4,686
Property Tax -$1,377
Property Insurance -$77
Property Management Fees -$251
CASH FLOW
-$1,270

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.

$1,349,000

PROJECTED PRICE

$5,120

PROJECTED RENT

0.38%

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

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

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$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,235

INVESTMENT

$363,235

Down Payment
$337,250
Rehab Estimate
$5,750
Closing Costs
$20,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,686

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $337,250
Loan Amount $1,011,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$12,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,120

    LIST RENT
  • $2.48

    LIST RENT PER SQFT
  • $4,444

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,9003$5,120
$5,120
RENT COMPS ANALYSIS
  • 726 Lucile Avenue Silver Lake, CA 3
    • 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,120
    • $2.48
    •  
  • 5057 Maplewood Avenue Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2008
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.10
    •  
  • 654 N Gramercy Place Los Angeles, CA 2
    • 3 beds 4 baths ∙ 1,763 Sqft ∙ Built 2014 3 beds 4 baths ∙ 1,763 Sqft ∙ Built 2014
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.21
    •  
PROPERTY LISTING DETAILS
Jason Tsai
Wayfind Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21005043
Last Updated: 02/09/2021
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