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852 N Poinsettia Place #1 Los Angeles, CA 90046

3 Beds 3 Baths 1,409 sqft Built 1990

$899,000

List Price

$3,750

$3.5K - $4K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $638.04
  • 2 Days on Market
  • MLS # : 20667400
  • Updated Date : 12/05/2020 at 17:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,409 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Light and bright 3 bedroom 2.5 bathroom townhouse style condo in ideal West Hollywood locale. The spacious living room w/balcony and wall of windows allow an abundance of natural light to fill the space that includes a gas fireplace and wet bar in addition to having a dining area and breakfast bar adjacent to the kitchen and powder room off the entry. The second level has all 3 bedrooms and 2 full bathrooms. The master suite's vaulted ceilings and balcony/windows create a dramatic retreat w/remodeled spa-like ensuite bathroom. Controlled access entry and gated subterranean parking w/ 2 tandem spaces and extra storage closet in garage. The small 6 unit complex features a new roof, freshly paved common areas including a patio with seating and BBQ for all residences

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: Fairfax District

ZipNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $199k1395k

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

Neighborhood: Fairfax District

ZipNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500500055006000Rent in $17846144

* 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
Laurel Elementary School Primary Regular 341 16 4
Laurel Elementary School Middle Regular 341 16 4
Fairfax Senior High School High Regular 2,101 83 6

Laurel Elementary School

  • Education Level: Primary
  • # of students: 341
  • # of teachers: 16
4
GreatSchools Rating

Laurel Elementary School

  • Education Level: Middle
  • # of students: 341
  • # of teachers: 16
4
GreatSchools Rating

Fairfax Senior High School

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

$809,100$988,900$899,000

PURCHASE PRICE

$3,375$4,125$3,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,750
EXPENSES Loan Payment -$3,317
Property Tax -$905
Property Insurance -$61
HOA -$400
Property Management Fees -$184
CASH FLOW
-$1,117

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.

$899,000

PROJECTED PRICE

$3,750

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 12.5%
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

PROJECTED ANNUAL CASH FLOW

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

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$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,191

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,750

    LIST RENT
  • $2.66

    LIST RENT PER SQFT
  • $4,147

    COMP ESTIMATED VALUE
  • $2.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,750
1$3,7502$3,8003$4,4954$4,900
$4,900
RENT COMPS ANALYSIS
  • 852 N Poinsettia Place Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,409 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,409 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.66
    •  
  • 7040 Hawthorn Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,333 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,333 Sqft ∙ Built 1980
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.85
    •  
  • 600 S Ridgeley Drive Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2009
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $3.10
    •  
  • 1248 N Laurel West Hollywood, CA 4
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $2.88
    •  
PROPERTY LISTING DETAILS
Joe Custer
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20667400
Last Updated: 12/05/2020
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