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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $911.52
- 17 Days on Market
- MLS # : PW20235065
- Updated Date : 11/20/2020 at 13:19
CONSTRUCTION
- Beds : 3
- Floor Size : 1,311 sqft
- Baths : 2 full
Listing Agent
Exp Realty Of California
Listing Agent's Description
INCREDIBLE corner lot featuring a modern mid-century private residence w/ unobstructed JETLINER VIEWS of the entire Los Angles Basin-Downtown!!! Centrally located to the finest LA has to offer dining & entertainment!!! Walk distance to the sunset strip just off of laurel canyon road up on the top of the hill. Home features 2 bedrooms + den that has been turn into another room. SPECTACULAR views from all main rooms including the master bedroom, beautiful modern 24 x 24 white ceramic tile throughout, Jetted tub in main bath. French doors leading to balcony & decks, great in-door/out-door flow. This is the perfect premium AIRBNB rental property for an investor. There is also a separate entrance to the 2nd bedroom on the lower level thus could be a perfect little opportunity for someone who wants a housemate. This home and property could use some improvements. Potential to expand both living space and rooftop!!! Listed price is the STARTING bid price. Check out comps in the area. Home appraised as is for 1.5mil. Contact your sale professional for further inquiry. HOME OPEN HAS BEEN POSTPONED DUE TO RECENT COVID-19 CONCERNS. IT WILL BE RESCHEDULED SHORTLY AFTER THE UPCOMING HOLIDAY. For private COVID compliant showings, please contact sales professional.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Mount Olympus
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mount Olympus
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $5,100 |
| EXPENSES | Loan Payment | -$4,409 |
| Property Tax | -$1,203 | |
| Property Insurance | -$59 | |
| Property Management Fees | -$250 | |
|
CASH FLOW
-$821
|
||
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.
$1,195,000
PROJECTED PRICE
$5,100
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 8.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$322,425
LOAN DETAILS
$4,409
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $298,750 |
| Loan Amount | $896,250 |
3.17
YEARS SAVED
$35,654
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$5,100
LIST RENT -
$3.89
LIST RENT PER SQFT
-
$4,165
COMP ESTIMATED VALUE -
$3.18
COMP AVG. RENT PER SQFT
Comps Range
-
7940 Fareholm Drive Los Angeles, CA 4
- 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1953
- Rent
- Rent Per SQFT
- $5,100
- $3.89
-
2531 Thames Street Los Angeles, CA 1
- 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1960
LEASED 06/08/20- Rent
- Rent Per SQFT
- $3,900
- $2.99
-
1745 Camino Palmero Street West Hollywood, CA 2
- 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1973
LEASED 08/05/20- Rent
- Rent Per SQFT
- $4,400
- $2.98
-
2335 Stanley Hills Drive Los Angeles, CA 3
- 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1966
LEASED 06/08/20- Rent
- Rent Per SQFT
- $4,400
- $3.56
PROPERTY LISTING DETAILS
Exp Realty Of California
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20235065
Last Updated: 11/20/2020
