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10607 Abisko Drive Whittier, CA 90604

3 Beds 2 Baths 1,196 sqft Built 1965

$645,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $539.30
  • 8 Days on Market
  • MLS # : PW20226891
  • Updated Date : 10/28/2020 at 13:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,196 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Lovely single-family home in South Whittier is ready for a new owner. Pride of ownership is evident in this fantastic 3Br 2BA home, which has been remodeled and upgraded. It boasts many features starting with a great location on a cul-de-sac street and potential RV access. The interior of the home offers a functional and easy to live floor plan. The living room is accentuated with laminate wood flooring, recessed lighting, a built-in bookcase and custom designed fireplace and entertaining center/area. The kitchen is spacious, with plenty of natural light and well-kept cabinetry. The countertops are a quartz finish highlighted with a tile backsplash. It includes stainless steel appliances and a large pantry. The kitchen opens up to the dining room area, which adds functionality and comfort. There is a master bedroom and bathroom set up and the additional 2 bedrooms are generous in size... You won't be disappointed. All bedrooms include ceiling fans and laminate wood flooring. If all of these are not enough to convince you, then the backyard will. This park-like yard is huge, flat, usable and wraps around the home, offering endless opportunities. It is hard to find another like it! Other worthy of mentioning upgrades include newer a/c and furnace, vinyl fencing, added attic insulation, updated fixtures, and recently interior paint, just to mention a few. This is a must see now, before it's gone!

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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: 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
California High School High Regular 2,955 103 7

California High School

  • Education Level: High
  • # of students: 2,955
  • # of teachers: 103
7
GreatSchools Rating
 

$580,500$709,500$645,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,380
Property Tax -$680
Property Insurance -$56
Property Management Fees -$124
CASH FLOW
-$709

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.

$645,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.39%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$176,675

INVESTMENT

$176,675

Down Payment
$161,250
Rehab Estimate
$5,750
Closing Costs
$9,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,380

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $161,250
Loan Amount $483,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $2.12

    LIST RENT PER SQFT
  • $2,244

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,530
1$2,5302$2,6003$2,7004$2,800
$2,800
RENT COMPS ANALYSIS
  • 10607 Abisko Drive Whittier, CA 1
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $2.12
    •  
  • 14103 Foster Road La Mirada, CA 2
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1955
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.84
    •  
  • 15039 Goodhue Street Whittier, CA 3
    • 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1955
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.87
    •  
  • 14417 Allegan Street Whittier, CA 4
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1954
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.92
    •  
PROPERTY LISTING DETAILS
Albert Soto
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20226891
Last Updated: 10/28/2020
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