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1023 N Sunset Avenue Azusa, CA 91702

3 Beds 3 Baths 1,728 sqft Built 1948

$665,000

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $384.84
  • 12 Days on Market
  • MLS # : 21683576
  • Updated Date : 02/13/2021 at 21:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,728 sqft
  • Baths : 3 full
Listing Agent

Ulysses Alvarado

Listing Agent's Description

INTERIOR PICTURES NOW UPLOADED! This is a great opportunity for any buyer especially a large family that can put their own loving touches. There are 3 skylights in the home to brighten the home. This home has an open concept layout with a large kitchen island, large master bedroom with ensuite bathroom and a 2nd "Jr. Master" with its ensuite bathroom, both with large wall to wall closets. Includes a living room, family room and office nook. The property also features a long porch, RV parking and a huge backyard that had a pool in the past. It also has a large 2 car garage with a permitted room. The home has been freshly painted to give the new owner a blank slate. The new owner has an option convert the garage to a 400+ sqft ADU the city approved 2 years ago. The roof and air conditioning was replaced less than 4 years ago. The new owner will enjoy the tranquility of the neighborhood with views of the San Gabriel Mountains and beautiful parks less than 2 blocks away. This home is a must see that has a charming loving home feel to all who walk in. See you soon! ( Please check with city of garage permitted room and update on last approved ADU plans, will show ADU plans at showing).

SEE MORE

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: Azusa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $150k622k

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

Neighborhood: Azusa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13812941

* 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
Victor Hodge Elementary School Primary Regular 660 28 5
Slauson Middle School Middle Regular 782 33 3
Azusa High School High Regular 1,393 65 5

Victor Hodge Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 28
5
GreatSchools Rating

Slauson Middle School

  • Education Level: Middle
  • # of students: 782
  • # of teachers: 33
3
GreatSchools Rating

Azusa High School

  • Education Level: High
  • # of students: 1,393
  • # of teachers: 65
5
GreatSchools Rating
 

$598,500$731,500$665,000

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$2,310
Property Tax -$701
Property Insurance -$69
Property Management Fees -$142
CASH FLOW
-$322

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.

$665,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.6%
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

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$181,975

INVESTMENT

$181,975

Down Payment
$166,250
Rehab Estimate
$5,750
Closing Costs
$9,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,310

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $166,250
Loan Amount $498,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$22,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $1.68

    LIST RENT PER SQFT
  • $3,115

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,8003$2,9004$3,1005$3,200
$3,200
RENT COMPS ANALYSIS
  • 1023 N Sunset Avenue Azusa, CA 3
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1948 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.68
    •  
  • 1227 N Pasadena Avenue Azusa, CA 1
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.81
    •  
  • 5921 Cedarglen Drive Azusa, CA 2
    • 4 beds 2 baths ∙ 1,468 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,468 Sqft ∙ Built 1955
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.91
    •  
  • 3041 Gardi Street Duarte, CA 4
    • 4 beds 3 baths ∙ 1,775 Sqft ∙ Built 1957 4 beds 3 baths ∙ 1,775 Sqft ∙ Built 1957
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.75
    •  
  • 916 W Donington Street Glendora, CA 5
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1955
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.74
    •  
PROPERTY LISTING DETAILS
Ulysses Alvarado
Ulysses Alvarado
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21683576
Last Updated: 02/13/2021
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