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8429 Lookout Mountain Avenue Los Angeles, CA 90046

3 Beds 2 Baths 1,666 sqft Built 1985

$999,000

List Price

$3,710

$3.5K - $4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $599.64
  • 4 Days on Market
  • MLS # : 20656554
  • Updated Date : 11/12/2020 at 12:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,666 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Striking modern home filled w/character on a double lot. This 3 level home features Dramatic Floor - Ceiling windows that bring the outside in. Open concept living rm, kit & dining rm leads to a large priv patio perfect for BBQ'ing. Great for entertaining, as it has amazing outdoor space incl. the priv patio, 2 balconies, a separate area behind the house great for a play area & a full rooftop deck. Master ste has a large walk-in closet & a luxurious redone master bath w/sep shower/tub & mosaic tile to the ceiling, skylight & balcony. Originally a 2 BR home, another BR was added on the same level as the master ste to make it a 3 BR home. However, you can remove one wall & bring it back to it's original splendor if you desire. There are beautiful knotted H/W flrs thru-out, a F/P, modern ceiling fans, beautiful wood trim & french doors & many energy efficient windows for natural light. 2 car gar & in the coveted. Wonderland school! At 1666 sqft this is an extremely well priced home.

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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 Hills West

NeighborhoodNIR Market*CityMarket2010Year20002019200k400k600k800k1000k1200k1400k1600kPrice in $199k1777k

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

Neighborhood: Hollywood Hills West

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500500055006000Rent in $17846452

* 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
Wonderland Avenue Elementary School Primary Regular 542 21 10
Hubert Howe Bancroft Middle School Middle Regular 834 33 3
Fairfax Senior High School High Regular 2,101 83 6

Wonderland Avenue Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 21
10
GreatSchools Rating

Hubert Howe Bancroft Middle School

  • Education Level: Middle
  • # of students: 834
  • # of teachers: 33
3
GreatSchools Rating

Fairfax Senior High School

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

$899,100$1,098,900$999,000

PURCHASE PRICE

$3,339$4,081$3,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,710
EXPENSES Loan Payment -$3,686
Property Tax -$1,006
Property Insurance -$67
Property Management Fees -$182
CASH FLOW
-$1,231

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.

$999,000

PROJECTED PRICE

$3,710

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,485

INVESTMENT

$270,485

Down Payment
$249,750
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,305

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,710

    LIST RENT
  • $2.23

    LIST RENT PER SQFT
  • $4,165

    COMP ESTIMATED VALUE
  • $2.5

    COMP AVG. RENT PER SQFT
Comps Range
$3,710
1$3,7102$4,2003$4,3004$4,500
$4,500
RENT COMPS ANALYSIS
  • 8429 Lookout Mountain Avenue Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,710
    • $2.23
    •  
  • 7006 Treasure Trail Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,961 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,961 Sqft ∙ Built 1980
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.14
    •  
  • 3235 Laurel Canyon Boulevard Studio City, CA 3
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.72
    •  
  • 7218 Hillside Avenue Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1991
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.64
    •  
PROPERTY LISTING DETAILS
Kirk Frieden
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20656554
Last Updated: 11/12/2020
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