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12308 Loma Drive Whittier, CA 90604

3 Beds 2 Baths 1,410 sqft Built 1993

$729,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $517.02
  • 2 Days on Market
  • MLS # : PW21151781
  • Updated Date : 07/12/2021 at 16:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,410 sqft
  • Baths : 2 full
Listing Agent

Coast To Coast Realty Group

Listing Agent's Description

This 1994 year built open floor plan home was tastefully updated with exceptionally high quality ultra modern touches that include: European style kitchen with high end cabinets, White Quarts counter tops and ceramic backsplash, High-end Stainless-steel appliances including extra-deep farmhouse style sink, European style bathrooms with freestanding soaking tub, Frameless shower glass door, Ultra-modern ceramic tiles, & Italian Vanity. Ultra-modern High-end Plumbing and electrical fixtures throughout home, E-glass dual pane windows and French doors throughout with a Mid-Century Modern front door. Custom Designed hardwood floor throughout complete with new base and case moldings. All new 6 panel doors with matching brushed metal hardware. There is also a reverse osmosis water softener. This home is a must see in order to appreciate all that it has to offer.

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MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • 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)
  • 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)
  • 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]

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
 

$656,100$801,900$729,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,532
Property Tax -$820
Property Insurance -$61
Property Management Fees -$131
CASH FLOW
-$865

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.

$729,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.37%

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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$198,935

INVESTMENT

$198,935

Down Payment
$182,250
Rehab Estimate
$5,750
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,532

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $2,905

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6803$2,850
$2,850
RENT COMPS ANALYSIS
  • 12308 Loma Drive Whittier, CA 2
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $1.90
    •  
  • 14947 Gagely Drive La Mirada, CA 1
    • 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 1989
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.89
    •  
  • 10503 Devillo Drive Whittier, CA 3
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1975
    LEASED 05/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.23
    •  
PROPERTY LISTING DETAILS
Daniel Curtean
Coast To Coast Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21151781
Last Updated: 07/12/2021
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