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733 N Wilton Place Los Angeles, CA 90038

3 Beds 1 Baths 1,276 sqft Built 1920

$849,000

List Price

$3,550

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1920
  • Price/Sqft : $665.36
  • 4 Days on Market
  • MLS # : 21677212
  • Updated Date : 01/07/2021 at 20:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,276 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Opportunity knocks . . . Whether you are an investor, owner/user or developer you will want to come tour this light and bright charmer located on a large R2 lot in prime Hollywood. The possibilities are endless with this very clean home. For the owner/user, the home features gleaming hardwood floors, whole house water filtration system, a large kitchen complete with cozy dining banquette and a spacious back yard that's perfect for entertaining friends and family. For the developer, the home is sited on a 6,025 square foot multiple dwelling lot that is within a "Tier 2 Transit Opportunity Community" for possible increased building density. The property is located on a quiet block in Hollywood where you can enjoy walking Fido on the sidewalks, picking up some famous short-rib ravioli from Osteria La Bucca just around the corner or strolling to a summertime movie screening at Hollywood Forever Cemetery. Conveniently close to transportation hubs as well as major studios.

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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: Hollywood Studio District

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $153k1123k

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

Neighborhood: Hollywood Studio District

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800300032003400360038004000Rent in $14154069

* 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
Santa Monica Boulevard Community Charter School Primary Charter 935 40 5
Santa Monica Boulevard Community Charter School Middle Charter 935 40 5
Helen Bernstein Senior High School High Regular 638 36 2

Santa Monica Boulevard Community Charter School

  • Education Level: Primary
  • # of students: 935
  • # of teachers: 40
5
GreatSchools Rating

Santa Monica Boulevard Community Charter School

  • Education Level: Middle
  • # of students: 935
  • # of teachers: 40
5
GreatSchools Rating

Helen Bernstein Senior High School

  • Education Level: High
  • # of students: 638
  • # of teachers: 36
2
GreatSchools Rating
 

$764,100$933,900$849,000

PURCHASE PRICE

$3,195$3,905$3,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,550
EXPENSES Loan Payment -$2,949
Property Tax -$855
Property Insurance -$58
Property Management Fees -$174
CASH FLOW
-$485

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.

$849,000

PROJECTED PRICE

$3,550

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 13.9%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,949

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$24,300

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,550

    LIST RENT
  • $2.78

    LIST RENT PER SQFT
  • $3,037

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,4503$3,5504$3,9005$3,995
$3,995
RENT COMPS ANALYSIS
  • 733 N Wilton Place Los Angeles, CA 3
    • 3 beds 1 baths ∙ 1,276 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,276 Sqft ∙ Built 1920
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $2.78
    •  
  • 5253 Fountain Ave Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1919 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1919
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.93
    •  
  • 5532 Barton Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1919 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1919
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.65
    •  
  • 1125 N Heliotrope Drive Los Angeles, CA 4
    • 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1919 4 beds 2 baths ∙ 1,617 Sqft ∙ Built 1919
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.41
    •  
  • 218 N Serrano Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1917 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1917
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.53
    •  
PROPERTY LISTING DETAILS
Robert Baer
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21677212
Last Updated: 01/07/2021
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