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132 Victoria Avenue West Covina, CA 91790

3 Beds 3 Baths 1,195 sqft Built 1980

$410,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $343.10
  • 7 Days on Market
  • MLS # : DW20235739
  • Updated Date : 11/14/2020 at 15:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,195 sqft
  • Baths : 2 full , 1 half
Listing Agent

Impact Real Estate Services

Listing Agent's Description

GREAT LOCATION! Centrally located in West Covina this Condo offers easy freeway access to the 10 fwy, Portos Bakery and the West Covina Plaza. This Great Trip-level Condo has 3 bedrooms and 2.5 bathrooms with 2 car attached garage located on the first floor. The floor plan offers Laminated hardwood floors with plenty of windows which allow more natural light. The kitchen includes granite counter tops and space to move around. The Spacious living room and dining area have Laminate hardwood floor and bathroom for guest. 3rd floor offers all bedrooms with laminated hardwood flooring throughout and privacy from the living room. The 2 car garage has an extra storage room and washer/dryer hook ups. The Well managed HOA which includes swimming pool, spa, trash, club house, maintenance of common areas and landscaping. Great for first time home buyers and/or small family to grow.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Freeway Corridor

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

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

Neighborhood: Freeway Corridor

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14672941

* 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
Monte Vista Elementary School Primary Regular 563 25 6
Monte Vista Elementary School Middle Regular 563 25 6
Edgewood High School High Regular 831 33 7

Monte Vista Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 25
6
GreatSchools Rating

Monte Vista Elementary School

  • Education Level: Middle
  • # of students: 563
  • # of teachers: 25
6
GreatSchools Rating

Edgewood High School

  • Education Level: High
  • # of students: 831
  • # of teachers: 33
7
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,513
Property Tax -$436
Property Insurance -$56
HOA -$300
Property Management Fees -$101
CASH FLOW
-$346

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.

$410,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.3%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$6,014

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.72

    LIST RENT PER SQFT
  • $2,071

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0603$2,4004$2,700
$2,700
RENT COMPS ANALYSIS
  • 132 Victoria Avenue West Covina, CA 2
    • 3 beds 3 baths ∙ 1,195 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,195 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.72
    •  
  • 1811 Seattle Street West Covina, CA 1
    • 3 beds 3 baths ∙ 1,195 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,195 Sqft ∙ Built 1980
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.72
    •  
  • 1901 W Devers Street West Covina, CA 3
    • 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1960
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.71
    •  
  • 3134 Vineland Baldwin Park, CA 4
    • 4 beds 3 baths ∙ 1,527 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,527 Sqft ∙ Built 1992
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.77
    •  
PROPERTY LISTING DETAILS
Sergio Becerra
Impact Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20235739
Last Updated: 11/14/2020
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