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10760 Leland Avenue Whittier, CA 90605

3 Beds 2 Baths 1,156 sqft Built 1962

$639,900

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $553.55
  • 3 Days on Market
  • MLS # : DW21021970
  • Updated Date : 02/13/2021 at 09:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,156 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate - Torrance

Listing Agent's Description

Stunning 3 bedroom, 2 bathroom home, located on a quiet street in Whittier, ready to move in!!! Upgraded kitchen with new cabinets with quartz counter tops, new hardware and fixtures. An appliance voucher provided for stove, dishwasher and self venting microwave-hood (provided at close of escrow, includes delivery and installation). Other upgrades include new laminate flooring in living room, eat in kitchen, and bedrooms, freshly painted exterior and interior, newer vinyl windows, central AC & heat. Ceiling fans in the bedrooms and living room. Enclosed patio, approximately 200 sq ft. Private backyard, 2 car garage with driveway that allows for off street parking.

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: 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
 

$575,910$703,890$639,900

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,223
Property Tax -$680
Property Insurance -$55
Property Management Fees -$123
CASH FLOW
-$581

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.

$639,900

PROJECTED PRICE

$2,500

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$175,324

INVESTMENT

$175,324

Down Payment
$159,975
Rehab Estimate
$5,750
Closing Costs
$9,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,223

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $159,975
Loan Amount $479,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $2,367

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6003$2,8004$2,8005$2,945
$2,945
RENT COMPS ANALYSIS
  • 10760 Leland Avenue Whittier, CA 1
    • 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.16
    •  
  • 9939 Homage Avenue Whittier, CA 2
    • 3 beds 2 baths ∙ 1,223 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,223 Sqft ∙ Built 1953
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.13
    •  
  • 10303 Devillo Drive Whittier, CA 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1955
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.08
    •  
  • 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
    •  
  • 9103 Bluford Avenue Whittier, CA 5
    • 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1948
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,945
    • $2.06
    •  
PROPERTY LISTING DETAILS
Judi Reimer
First Team Real Estate - Torrance
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21021970
Last Updated: 02/13/2021
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