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855 Wilcox Avenue #303 Los Angeles, CA 90038

3 Beds 2 Baths 1,440 sqft Built 2006

$779,000

List Price

$3,860

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $540.97
  • 3 Days on Market
  • MLS # : 320004461
  • Updated Date : 01/01/2021 at 15:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,440 sqft
  • Baths : 2 full
Listing Agent

Dream Realty La Crescenta

Listing Agent's Description

Welcome to an oasis in Hollywood. The access controlled entry opens to a beautifully landscaped courtyard with fountain. Double doors open to an explosive view of the Hollywood Hills and City lights streaming from tall windows and doors. Living room has high ceilings, fireplace, balcony and crown moldings. Kitchen with granite counter tops, stainless appliances, recessed lighting and tile flooring opens into the dinning room. Lovely new carpeted master suite with custom wallpaper leading to a master bath with dual vanity, custom cabinets and lights with tile floor. In unit laundry. Hardwood floors in public areas. There are 2 car tandem parking spots and guest spots. Park adjacent easy access to Sunset, Vine shops,larchmont village and so much more !

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: Greater Wilshire

NeighborhoodNIR Market*CityMarket2010Year20002019200k400k600k800k1000k1200k1400k1600kPrice in $199k1717k

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

Neighborhood: Greater Wilshire

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q220002500300035004000450050005500Rent in $17845646

* 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
Vine Street Elementary School Primary Regular 527 22 2
Hubert Howe Bancroft Middle School Middle Regular 834 33 3
Fairfax Senior High School High Regular 2,101 83 6

Vine Street Elementary School

  • Education Level: Primary
  • # of students: 527
  • # of teachers: 22
2
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
 

$701,100$856,900$779,000

PURCHASE PRICE

$3,474$4,246$3,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,860
EXPENSES Loan Payment -$2,874
Property Tax -$785
Property Insurance -$62
HOA -$450
Property Management Fees -$189
CASH FLOW
-$499

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.

$779,000

PROJECTED PRICE

$3,860

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,185

INVESTMENT

$212,185

Down Payment
$194,750
Rehab Estimate
$5,750
Closing Costs
$11,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $194,750
Loan Amount $584,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$22,571

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,860

    LIST RENT
  • $2.68

    LIST RENT PER SQFT
  • $3,938

    COMP ESTIMATED VALUE
  • $2.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,495
1$3,4952$3,6553$3,8604$3,9005$4,000
$4,000
RENT COMPS ANALYSIS
  • 855 Wilcox Avenue Los Angeles, CA 3
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $3,860
    • $2.68
    •  
  • 711 Cole Avenue Los Angeles, CA 1
    • 3 beds 3 baths ∙ 1,347 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,347 Sqft ∙ Built 2018
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.59
    •  
  • 843 Wilcox Avenue Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 2020
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,655
    • $2.93
    •  
  • 965 N Wilton Place Los Angeles, CA 4
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 2017
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.79
    •  
  • 936 N Hudson Avenue Los Angeles, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Young Lee
Dream Realty La Crescenta
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320004461
Last Updated: 01/01/2021
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