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1116 Marchmont Avenue Hacienda Heights, CA 91745

4 Beds 2 Baths 1,431 sqft Built 1954

$598,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $417.89
  • 81 Days on Market
  • MLS # : TR20238330
  • Updated Date : 01/26/2021 at 06:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,431 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Signature # 2

Listing Agent's Description

Excellent Single Family Home! This property is perfect for Multi Family use. The Location is excellent and is in walking Distance to Stores, Transportation, Restaurants, and Shopping. Attractive Spanish Style Home with Saltillo Tile Floors, Custom Front Entry Door and Interior doors. The Home has an Updated Kitchen with newer Cabinets , Granite counter tops and skylight which is open to the Family Room with Fireplace. The Patio has been enclosed and is used as a Dining Room. The home has French doors and newer windows. One of the Bedrooms has been enlarged. Other fine Features include a Large Bonus room used as an en suite with spacious attached Bathroom with Large Tub and Shower and 3 bedrooms and one bathroom on the other side of the Family Room The front of the Home has an appealing curb appeal with lush landscaping that includes a beautiful Lawn and Palm Trees. The backyard is very appealing with nice Landscaping and room for an Addition or pool. May be contingent on seller locating property of their choice with escrows closing concurrently.

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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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $143k856k

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

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2140016001800200022002400260028003000320034003600Rent in $13253697

* 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
Cedarlane Academy Primary Regular 543 25 6
Cedarlane Academy Middle Regular 543 25 6
Glen A. Wilson High School High Regular 1,616 64 9

Cedarlane Academy

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 25
6
GreatSchools Rating

Cedarlane Academy

  • Education Level: Middle
  • # of students: 543
  • # of teachers: 25
6
GreatSchools Rating

Glen A. Wilson High School

  • Education Level: High
  • # of students: 1,616
  • # of teachers: 64
9
GreatSchools Rating
 

$538,200$657,800$598,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,077
Property Tax -$625
Property Insurance -$62
Property Management Fees -$122
CASH FLOW
-$396

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$598,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,220

INVESTMENT

$164,220

Down Payment
$149,500
Rehab Estimate
$5,750
Closing Costs
$8,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,500
Loan Amount $448,500
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$13,070

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $2,529

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$2,6003$2,6504$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 1116 Marchmont Avenue Hacienda Heights, CA 1
    • 4 beds 2 baths ∙ 1,431 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,431 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.74
    •  
  • 15444 Los Robles Avenue Hacienda Heights, CA 2
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1953
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.71
    •  
  • 1926 Kellerton Drive La Puente, CA 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.66
    •  
  • 1920 Olympus Avenue Hacienda Heights, CA 4
    • 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1956
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.80
    •  
  • 16179 Flamstead Drive Hacienda Heights, CA 5
    • 4 beds 3 baths ∙ 1,582 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,582 Sqft ∙ Built 1955
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.90
    •  
PROPERTY LISTING DETAILS
Anthony De La Vara Jr.
Keller Williams Signature # 2
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20238330
Last Updated: 01/26/2021
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