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12828 Ramona Boulevard #93 Baldwin Park, CA 91706

3 Beds 2 Baths 1,021 sqft Built 1983

$375,800

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $368.07
  • 7 Days on Market
  • MLS # : WS20238887
  • Updated Date : 11/23/2020 at 14:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,021 sqft
  • Baths : 2 full
Listing Agent

Pinnacle Real Estate Group

Listing Agent's Description

A gated friendly Condo in the city of Baldwin Park! Easy access to highways such as 10 & 605, and relatively close to 210 & 60. This lovely house has three-bedrooms, two-bathroom with a small nice patio, a storage outside in the back yard, two car attached garage. This Community with Low HOA Fees takes care of water, trash, pool, spa, insurance, and common area exterior maintenance. New roof was just installed in the end of 2019. Come and take a look at this charmer, you will not be disappointed. Property is sold AS-Is condition with no necessary repairs from seller. Don't miss it! Make an offer!

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MARKET HIGHLIGHTS

  • 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)
  • 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: Baldwin Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $147k622k

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

Neighborhood: Baldwin Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13662941

* 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
Elwin Elementary School Primary Regular 465 19 3
Sierra Vista Junior High School Middle Regular 766 29 5
Sierra Vista High School High Regular 2,026 84 5

Elwin Elementary School

  • Education Level: Primary
  • # of students: 465
  • # of teachers: 19
3
GreatSchools Rating

Sierra Vista Junior High School

  • Education Level: Middle
  • # of students: 766
  • # of teachers: 29
5
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,026
  • # of teachers: 84
5
GreatSchools Rating
 

$338,220$413,380$375,800

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,387
Property Tax -$413
Property Insurance -$52
HOA -$200
Property Management Fees -$100
CASH FLOW
-$102

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.

$375,800

PROJECTED PRICE

$2,050

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,337

INVESTMENT

$105,337

Down Payment
$93,950
Rehab Estimate
$5,750
Closing Costs
$5,637

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,387

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,950
Loan Amount $281,850
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$22,156

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $2.01

    LIST RENT PER SQFT
  • $2,052

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0503$2,1004$2,2005$2,400
$2,400
RENT COMPS ANALYSIS
  • 12828 Ramona Boulevard Baldwin Park, CA 2
    • 3 beds 2 baths ∙ 1,021 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,021 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $2.01
    •  
  • 12828 Ramona Blvd. #37 Baldwin Park, CA 1
    • 3 beds 2 baths ∙ 1,057 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,057 Sqft ∙ Built 1983
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.94
    •  
  • 13502 Tracy Street Baldwin Park, CA 3
    • 3 beds 2 baths ∙ 1,076 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,076 Sqft ∙ Built 1983
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.95
    •  
  • 13302 Ramona Boulevard Baldwin Park, CA 4
    • 3 beds 2 baths ∙ 1,015 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,015 Sqft ∙ Built 1985
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $2.17
    •  
  • 4028 Maxson Road El Monte, CA 5
    • 3 beds 3 baths ∙ 1,211 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,211 Sqft ∙ Built 1981
    property image
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.98
    •  
PROPERTY LISTING DETAILS
Yanyan Du
Pinnacle Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20238887
Last Updated: 11/23/2020
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