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852 N Poinsettia Place #2 West Hollywood, CA 90046

3 Beds 3 Baths 1,623 sqft Built 1990

$974,900

List Price

$3,880

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $600.68
  • 76 Days on Market
  • MLS # : SR20221371
  • Updated Date : 12/31/2020 at 12:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,623 sqft
  • Baths : 2 full , 1 half
Listing Agent

Johnhart Corp.

Listing Agent's Description

Welcome to Poinsettia Place Unit 2, a wonderfully chic 3 bedroom, 2.5 bath condo with over 1,6oo square feet in the heart of Hollywood. A secure gated entry leads to a smart wood door, which opens to a large living room with a fireplace, chandelier, and wet bar - an entertainer’s dream. Engineered wood floors spread in every direction and the windows allow an abundance of natural light to flood this move-in ready home. A breakfast bar in the kitchen is perfect for guests, which is complemented by stainless steel appliances and plenty of cabinet space. Dual stairways take you upstairs to multiple bedrooms with walk-in closets and plush carpeting. Lovely outdoor patios are situated on either side of the building, which also includes covered private parking. Enjoy great proximity to the many fantastic restaurants and shops on 3rd street, Beverly Blvd., and Melrose Ave, just a short walk away!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$877,410$1,072,390$974,900

PURCHASE PRICE

$3,492$4,268$3,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,880
EXPENSES Loan Payment -$3,597
Property Tax -$972
Property Insurance -$66
HOA -$400
Property Management Fees -$190
CASH FLOW
-$1,345

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.

$974,900

PROJECTED PRICE

$3,880

PROJECTED RENT

0.40%

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-$25k-$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$264,099

INVESTMENT

$264,099

Down Payment
$243,725
Rehab Estimate
$5,750
Closing Costs
$14,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,597

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $243,725
Loan Amount $731,175
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,880

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $4,382

    COMP ESTIMATED VALUE
  • $2.7

    COMP AVG. RENT PER SQFT
Comps Range
$3,880
1$3,8802$3,9003$4,0004$4,6005$4,900
$4,900
RENT COMPS ANALYSIS
  • 852 N Poinsettia Place West Hollywood, CA 1
    • 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $3,880
    • $2.39
    •  
  • 1353 N Fuller Avenue Los Angeles, CA 2
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2007
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.50
    •  
  • 936 N Hudson Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2008
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.63
    •  
  • 823 N Martel Avenue Los Angeles, CA 4
    • 3 beds 4 baths ∙ 1,650 Sqft ∙ Built 2004 3 beds 4 baths ∙ 1,650 Sqft ∙ Built 2004
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.79
    •  
  • 1248 N Laurel West Hollywood, CA 5
    • 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
John Maseredjian
Johnhart Corp.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20221371
Last Updated: 12/31/2020
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