Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7659 Fountain Avenue Los Angeles, CA 90046

3 Beds 3 Baths 1,221 sqft Built 2015

$1,220,000

List Price

$4,140

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $999.18
  • 2 Days on Market
  • MLS # : WS20238047
  • Updated Date : 11/14/2020 at 16:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,221 sqft
  • Baths : 3 full
Listing Agent

Your Home Sold Guaranteed Rlty

Listing Agent's Description

This fully upgraded 2 units is a quiet sanctuary. It is fully designed and upgraded by an award winning designer/architect. The vaulted living room makes the space bright and airy great for entertaining guests. Lovely Features include a fireplace with stone surround, a formal dining room with ample seating and an open concept kitchen boasting Caesarstone countertops, modern cabinets, stainless steel appliances, backsplash, wine refrigerator. The master suite offers French doors to the courtyard and a private bath with stone shower and modern vanity. It also has 2 additional bedrooms and a fresh hall bath. The guest house features a lofted sleeping area, kitchenette, tile flooring, new bath with subway tile shower and new vanity. In addition to the front driveway parking space, there are optional parking spaces, 35 x 35, at the rear of the property. R3 zoning lot with development potential. Steps to Sunset Blvd, Whole Foods, Trader Joe’s, Plummer Park, and many restaurants. This location also provides easy access to Beverly Hills, Westwood, Santa Monica, and many tourist sights. Disclaimer: Second converted unit from garage - permit status unknown. sqft. not verified. Originally built in 1920, partially rebuilt and fully remodeled in 2015. All information deemed reliable but not guaranteed.

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: Hollywood

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $153k1115k

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

Neighborhood: Hollywood

ZipNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500500055006000Rent in $17186144

* 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
Gardner Street Elementary School Primary Regular 452 18 7
Gardner Street Elementary School Middle Regular 452 18 7
Fairfax Senior High School High Regular 2,101 83 6

Gardner Street Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 18
7
GreatSchools Rating

Gardner Street Elementary School

  • Education Level: Middle
  • # of students: 452
  • # of teachers: 18
7
GreatSchools Rating

Fairfax Senior High School

  • Education Level: High
  • # of students: 2,101
  • # of teachers: 83
6
GreatSchools Rating
 

$1,098,000$1,342,000$1,220,000

PURCHASE PRICE

$3,726$4,554$4,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,140
EXPENSES Loan Payment -$4,501
Property Tax -$1,229
Property Insurance -$56
Property Management Fees -$203
CASH FLOW
-$1,849

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.

$1,220,000

PROJECTED PRICE

$4,140

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.7%
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-$30k-$20k-$10k$0.0$10k

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$329,050

INVESTMENT

$329,050

Down Payment
$305,000
Rehab Estimate
$5,750
Closing Costs
$18,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $305,000
Loan Amount $915,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,140

    LIST RENT
  • $3.39

    LIST RENT PER SQFT
  • $3,864

    COMP ESTIMATED VALUE
  • $3.17

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$4,1403$4,999
$4,999
RENT COMPS ANALYSIS
  • 7659 Fountain Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,221 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,221 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,140
    • $3.39
    •  
  • 118 N Kings Road Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 2013
    property image
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.76
    •  
  • 7611 Hampton Avenue West Hollywood, CA 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1998
    property image
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,999
    • $3.57
    •  
PROPERTY LISTING DETAILS
Ray Chen
Your Home Sold Guaranteed Rlty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20238047
Last Updated: 11/14/2020
BESbswy