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957 S Wilton Place #4 Los Angeles, CA 90019

4 Beds 4 Baths 1,780 sqft Built 2007

$899,900

List Price

$3,730

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $505.56
  • 5 Days on Market
  • MLS # : 21676848
  • Updated Date : 01/07/2021 at 20:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,780 sqft
  • Baths : 3 full , 1 half
Listing Agent

Dream Realty Asset Mgt, Inc.

Listing Agent's Description

Luxurious and spacious 4 bed + 3.5 bath condo in Mid-Wilshire/Koreatown adjacent to Hancock Park. This unit is a quiet rear unit and shares only one wall. Has in-unit front loaded washer/dryer, dishwasher, microwave, refrigerator, and a gas fireplace. Unit features a lot of upgrades which has Hardwood floors throughout, Travertine Tiles, Crown Moulding, upgraded bathrooms and kitchen. The master bedroom has "His and Hers" walk-in closets with built in custom cedar cabinetry, its own private balcony and separate spa like master suite bathroom retreat. Master suite has panoramic southerly city views and DTLA, allows plenty of ambient light throughout the day. The guest rooms have northerly unobstructed panoramic views of the Hollywood hills. The large spacious living room is adjoined to the large patio/entertainment space with westerly facing views of West LA and Century City towers. Centrally located to LA downtown, Hollywood and West LA.

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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: Wilshire Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $153k1311k

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

Neighborhood: Wilshire Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000420044004600Rent in $17184686

* 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
Wilton Place Elementary School Primary Regular 780 37 4
Pio Pico Middle School Middle Regular 625 28 5
Los Angeles Senior High High Regular 1,422 76 3

Wilton Place Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 37
4
GreatSchools Rating

Pio Pico Middle School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 28
5
GreatSchools Rating

Los Angeles Senior High

  • Education Level: High
  • # of students: 1,422
  • # of teachers: 76
3
GreatSchools Rating
 

$809,910$989,890$899,900

PURCHASE PRICE

$3,357$4,103$3,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,730
EXPENSES Loan Payment -$3,126
Property Tax -$906
Property Insurance -$70
HOA -$500
Property Management Fees -$183
CASH FLOW
-$1,054

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$899,900

PROJECTED PRICE

$3,730

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

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$244,224

INVESTMENT

$244,224

Down Payment
$224,975
Rehab Estimate
$5,750
Closing Costs
$13,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,126

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,975
Loan Amount $674,925
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,880

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,730

    LIST RENT
  • $2.1

    LIST RENT PER SQFT
  • $3,649

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3003$3,5004$3,5005$3,730
$3,730
RENT COMPS ANALYSIS
  • 957 S Wilton Place Los Angeles, CA 5
    • 4 beds 4 baths ∙ 1,780 Sqft ∙ Built 2007 4 beds 4 baths ∙ 1,780 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $3,730
    • $2.10
    •  
  • 848 Irolo Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2008
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.00
    •  
  • 871 Crenshaw Boulevard Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2006
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.02
    •  
  • 709 S Manhattan Place Los Angeles, CA 3
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2013
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.08
    •  
  • 722 S Oxford Avenue Los Angeles, CA 4
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2007
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.10
    •  
PROPERTY LISTING DETAILS
Koeun Hwang
Dream Realty Asset Mgt, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21676848
Last Updated: 01/07/2021
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