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1007 Lang Avenue La Puente, CA 91744

3 Beds 2 Baths 1,396 sqft Built 1957

$554,900

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $397.49
  • 4 Days on Market
  • MLS # : SB21022526
  • Updated Date : 02/05/2021 at 18:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,396 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Palos Verdes

Listing Agent's Description

This beautiful corner house is located only 20 minutes east of DTL.A. The house sits on a 6,591 sqft lot and it is close to major freeways but tucked away from the noise of the traffic in a nice cul-de-sac. The house offers a beautiful curb appeal in addition to a great backyard that is great for entertaining and has potential to add sqft to this property. Walk into an ample living room with original hardwood floors that have been restored and run throughout the house. The 3 ample bedrooms feature floor to ceiling closets to make organization easy! Walk into the master bedroom and you will see the new barn door leading to the remodeled master bath, it was tastefully redone with sleek and simple taste. This home also features TWO bonus rooms that can be used as a family room, office space...endless possibilities! The bonus rooms lead you to the manicured backyard where new sod was placed, the backyard and front yard offer automatic sprinklers to keep up the beautiful landscape. The detached 2 car garage features Epoxy floor done in 2020. If that wasn't enough - the garage has its own new 100 amp sub-panel along with additional outlets and lighting, it can easily accommodate an electric car. The home offers newly upgraded HVAC system (heating and cooling) with a smart thermostat, electrical and plumbing have also been upgraded to meet the demands of today's technology. New low-e double pane windows, insulation in all exterior walls make this house energy efficient. A MUST SEE!

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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: West Puente Valley

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k622k

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

Neighborhood: West Puente Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13252941

* 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
Sunkist Elementary School Primary Regular 493 20 4
Torch Middle School Middle Regular 717 28 4
Bassett High School High Regular 1,071 43 6

Sunkist Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 20
4
GreatSchools Rating

Torch Middle School

  • Education Level: Middle
  • # of students: 717
  • # of teachers: 28
4
GreatSchools Rating

Bassett High School

  • Education Level: High
  • # of students: 1,071
  • # of teachers: 43
6
GreatSchools Rating
 

$499,410$610,390$554,900

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,927
Property Tax -$617
Property Insurance -$61
Property Management Fees -$116
CASH FLOW
-$360

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.

$554,900

PROJECTED PRICE

$2,360

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.9%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$152,799

INVESTMENT

$152,799

Down Payment
$138,725
Rehab Estimate
$5,750
Closing Costs
$8,324

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,927

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $138,725
Loan Amount $416,175
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$12,493

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.69

    LIST RENT PER SQFT
  • $2,485

    COMP ESTIMATED VALUE
  • $1.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,3604$2,5005$2,675
$2,675
RENT COMPS ANALYSIS
  • 1007 Lang Avenue La Puente, CA 3
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.69
    •  
  • 14138 Beckner Street La Puente, CA 1
    • 4 beds 2 baths ∙ 1,257 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,257 Sqft ∙ Built 1955
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.67
    •  
  • 1309 Edanruth Avenue La Puente, CA 2
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1956
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.79
    •  
  • 730 Cabana Avenue La Puente, CA 4
    • 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1956
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.91
    •  
  • 1327 W Randall Way West Covina, CA 5
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1959
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $1.75
    •  
PROPERTY LISTING DETAILS
Sandra Guevara
Keller Williams Palos Verdes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21022526
Last Updated: 02/05/2021
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