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PROPERTY INFO
FACTS
- Single Family
- Built In 1954
- Price/Sqft : $318.60
- 3 Days on Market
- MLS # : WS21046832
- Updated Date : 03/06/2021 at 09:23
CONSTRUCTION
- Beds : 4
- Floor Size : 2,194 sqft
- Baths : 2 full
Listing Agent
Reh Real Estate
Listing Agent's Description
Find me 1/2 an acre vacant lot on flat buildable land in Whittier for less money! Handyman special in Whittier, Ca just minutes from Friendly Hills. Property sits on a private flag lot hidden from the main road and sits on .42 acres of land. It's like having your own little private compound. The ranch style home needs a little bit of love and elbow grease to restore it to it's full glory. It boasts 4 bed rooms, 2 bathrooms, a formal dining room, a formal living room, 2 fireplaces, a family room, a foyer, a 5 ton HVAC system. an oversized laundry room, a spa tub, a swimming pool, an extra deep koi pond, backyard patio with built in barbeque, and solar panels that are owned and paid off. The pool is need of repairs as per photos.
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MARKET HIGHLIGHTS
- 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)
- 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]
- 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)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: South Whittier
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,660 |
| EXPENSES | Loan Payment | -$2,428 |
| Property Tax | -$785 | |
| Property Insurance | -$80 | |
| Property Management Fees | -$179 | |
|
CASH FLOW
$188
|
||
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.
$699,000
PROJECTED PRICE
$3,660
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$190,985
LOAN DETAILS
$2,428
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $174,750 |
| Loan Amount | $524,250 |
8.08
YEARS SAVED
$75,372
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,660
LIST RENT -
$1.67
LIST RENT PER SQFT
-
$3,889
COMP ESTIMATED VALUE -
$1.77
COMP AVG. RENT PER SQFT
Comps Range
-
10839 Arroyo Drive Whittier, CA 3
- 4 beds 2 baths ∙ 2,194 Sqft ∙ Built 1954 4 beds 2 baths ∙ 2,194 Sqft ∙ Built 1954
- Rent
- Rent Per SQFT
- $3,660
- $1.67
-
15208 Cullen Street Whittier, CA 1
- 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1952
LEASED 11/12/20- Rent
- Rent Per SQFT
- $3,400
- $1.82
-
15008 Chalco Street La Mirada, CA 2
- 5 beds 3 baths ∙ 2,017 Sqft ∙ Built 1958 5 beds 3 baths ∙ 2,017 Sqft ∙ Built 1958
LEASED 07/01/20- Rent
- Rent Per SQFT
- $3,500
- $1.74
-
14239 Trumball Street Whittier, CA 4
- 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1955 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1955
LEASED 05/29/20- Rent
- Rent Per SQFT
- $3,800
- $1.81
-
9636 La Cima Drive Whittier, CA 5
- 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1953 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1953
LEASED 03/25/20- Rent
- Rent Per SQFT
- $4,200
- $1.72
PROPERTY LISTING DETAILS
Reh Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: WS21046832
Last Updated: 03/06/2021
