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11946 Groveland Avenue Whittier, CA 90604

3 Beds 2 Baths 1,273 sqft Built 1960

$700,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $549.88
  • 6 Days on Market
  • MLS # : IV21040263
  • Updated Date : 02/26/2021 at 08:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,273 sqft
  • Baths : 2 full
Listing Agent

Vincent Jaramillo, Broker

Listing Agent's Description

Welcome to this beautiful East Whittier pool home where no expense has been spared! This turn-key, fully upgraded, 3 bedroom 2 bathroom home has a new roof (less than 4 months old), a full kitchen remodel in 2015, new exterior paint, new pool pump, whole house fan, recessed lighting, and much more. The open kitchen and large living room with a fireplace allows for fun family gatherings. Located on a large lot with a detached, 2 car garage (which is currently being used as a game room but can be used for parking or potential for an ADU), hosting outdoors will never be a problem. This home is surrounded with great school districts with Meadow Green Elementary School around the corner and Rancho Starbuck Middle School just a few blocks away. Close to grocery stores, shopping, parks, restaurants, and much more, this property WILL NOT LAST! Don't miss this opportunity, it is a MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: East la Mirada

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

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

Neighborhood: East la Mirada

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14492941

* 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
Rancho-starbuck Intermediate School Middle Regular 774 28 8
La Habra High School High Magnet 2,230 73 7

Rancho-starbuck Intermediate School

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 28
8
GreatSchools Rating

La Habra High School

  • Education Level: High
  • # of students: 2,230
  • # of teachers: 73
7
GreatSchools Rating
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$2,431
Property Tax -$693
Property Insurance -$58
Property Management Fees -$129
CASH FLOW
-$671

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.

$700,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,791

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $2.07

    LIST RENT PER SQFT
  • $2,460

    COMP ESTIMATED VALUE
  • $1.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,640
1$2,6402$2,7003$2,7954$2,8005$3,075
$3,075
RENT COMPS ANALYSIS
  • 11946 Groveland Avenue Whittier, CA 1
    • 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $2.07
    •  
  • 16021 Marlinton Drive Whittier, CA 2
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1960
    property image
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.95
    •  
  • 16553 Brass Lantern Drive La Mirada, CA 3
    • 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1962
    property image
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.87
    •  
  • 12310 Cullman Avenue Whittier, CA 4
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1962
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.98
    •  
  • 2620 W Cobblestone Road La Habra, CA 5
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1963
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,075
    • $1.93
    •  
PROPERTY LISTING DETAILS
Vincent Jaramillo
Vincent Jaramillo, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21040263
Last Updated: 02/26/2021
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