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10215 Mina Avenue Whittier, CA 90605

4 Beds 2 Baths 1,500 sqft Built 1953

$700,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $466.67
  • 2 Days on Market
  • MLS # : DW21151726
  • Updated Date : 07/12/2021 at 13:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Century 21 Allstars

Listing Agent's Description

Excellent Mid Century Whittier home featuring 4 Bedrooms, 2 bathrooms, with a 2 car garage on a spacious lot. Kitchen features granite countertops, stainless steel appliances, and ample cabinet space throughout. Home features a very large sunroom addition for additional space, great for friends and family gatherings. New paint and stucco all throughout the outside. Within close proximity to Gateway Plaza Shopping Center, 605 & 5 Freeway, and Adventure Park. This home features AC & Heat and a wood burning fireplace. Beautiful private backyard with plenty of fruit to choose from such as avocado, papaya, tangerine, pomegranate, orange, blueberry, and lemon. (Buyer to satisfy self as to permit status and legal use of space.)

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MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: South Whittier

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: South Whittier

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13892941

* 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
Pioneer High School High Regular 1,414 57 6

Pioneer High School

  • Education Level: High
  • # of students: 1,414
  • # of teachers: 57
6
GreatSchools Rating
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,431
Property Tax -$743
Property Insurance -$63
Property Management Fees -$155
CASH FLOW
-$232

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.

$700,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$32,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $2.11

    LIST RENT PER SQFT
  • $3,131

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9453$3,0004$3,1605$3,200
$3,200
RENT COMPS ANALYSIS
  • 10215 Mina Avenue Whittier, CA 4
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $2.11
    •  
  • 14417 Allegan Street Whittier, CA 1
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.92
    •  
  • 9103 Bluford Avenue Whittier, CA 2
    • 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1948
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,945
    • $2.06
    •  
  • 11220 Mina Avenue Whittier, CA 3
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1949
    property image
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.15
    •  
  • 13433 Safari Drive Whittier, CA 5
    • 4 beds 2 baths ∙ 1,444 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,444 Sqft ∙ Built 1967
    property image
    LEASED 03/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.22
    •  
PROPERTY LISTING DETAILS
Frank Chavez
Century 21 Allstars
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21151726
Last Updated: 07/12/2021
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