Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1381 S Walnut Street S #2805 Anaheim, CA 92802

3 Beds 4 Baths 1,200 sqft Built 1974

$499,900

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $416.58
  • 4 Days on Market
  • MLS # : OC20233556
  • Updated Date : 11/06/2020 at 10:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Costa Mesa

Listing Agent's Description

NEW LISTING WELL MAINTAIN CONDO CENTRALLY LOCATED AND WALKING DISTANCE TO DISNEYLAND AND DOWNTOWN DISNEY. RECENTLY REMODELED, LIGHT AND BRIGHT 2-STORY 3BEDROOM & 2.5 BATH ALSO FEATURES VERY CLEAN KITCHEN WITH QUARTZ COUNTER TOPS RECESSED LIGHTING IN FAMILY ROOM & DINNG ROOM,PATIO OFF THE KITCHEN, INDOOR LAUNDRY, 1 CAR D-GARAGE PLUS SECONDARY CAR SPACE. HOA AMENITIES: POOL,SPA,CLUBHOUSE,GREEN BELT AND PLAYGROUND. NEAR BY SHOPPING ,TRANSPORTATION,ANAHEIM’S GARDEN WALK,ANGEL’S STADIUM AND CONVENTION CENTER.

SEE MORE

MARKET HIGHLIGHTS

  • 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 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)
  • 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: West Anaheim

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $212k742k

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

Neighborhood: West Anaheim

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15413345

* 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
Palm Lane Elementary School Primary Regular 721 26 1
Ball Junior High School Middle Regular 1,043 40 2
Loara High School High Regular 2,377 88 4

Palm Lane Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 26
1
GreatSchools Rating

Ball Junior High School

  • Education Level: Middle
  • # of students: 1,043
  • # of teachers: 40
2
GreatSchools Rating

Loara High School

  • Education Level: High
  • # of students: 2,377
  • # of teachers: 88
4
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,844
Property Tax -$514
Property Insurance -$56
HOA -$370
Property Management Fees -$123
CASH FLOW
-$388

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.

$499,900

PROJECTED PRICE

$2,520

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$9,479

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $2.1

    LIST RENT PER SQFT
  • $2,553

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5203$2,5504$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1381 S Walnut Street S Anaheim, CA 2
    • 3 beds 4 baths ∙ 1,200 Sqft ∙ Built 1974 3 beds 4 baths ∙ 1,200 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $2.10
    •  
  • 1310 W Laster Avenue Anaheim, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $2.08
    •  
  • 1700 W Cerritos Avenue Anaheim, CA 3
    • 3 beds 3 baths ∙ 1,166 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,166 Sqft ∙ Built 1981
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $2.19
    •  
  • 1516 W Lullaby Lane Anaheim, CA 4
    • 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 1956 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 1956
    property image
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.00
    •  
  • 1723 W Crestwood Lane Anaheim, CA 5
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1955
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.24
    •  
PROPERTY LISTING DETAILS
Moses Guillen
Keller Williams Costa Mesa
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20233556
Last Updated: 11/06/2020
BESbswy