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1420 Riviera Drive Pasadena, CA 91107

3 Beds 1 Baths 1,784 sqft Built 1955

$1,198,888

List Price

$3,870

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $672.02
  • 2 Days on Market
  • MLS # : OC21004862
  • Updated Date : 01/23/2021 at 20:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,784 sqft
  • Baths : 1 full
Listing Agent

Ashby & Graff

Listing Agent's Description

This beautiful single level home has a sparkling swimming pool, great for entertainment during the hot summer heat. 3 Bedrooms, 2 baths, enclosed patio (can be used as a guest bedroom). It has an above spa. Newer Gazebo. Upgraded with hardwood floor, carpet, marble floor. Granite countertops, backsplash, stainless steel fridge, newer stove, microwave. Master-bathroom has a built-in spa, television. Upgraded sliding doors, upgraded double pane windows, upgraded plantation shutters. Mirror closet doors. Security systems with cameras inside and out of the home. Central air conditioner & heat. Ceiling fans. Recessed lightings throughout. Dual fireplace between the breakfast nook and living room. Manual bidet sprayer in both bathrooms. Close to Eaton Canyon Golf Course, shopping plaza. Only minutes away to Santa Anita Mall (Westfield), Santa Anita Park, Los Angeles County Arboretum, Alice's Dog Park. This is a Probate Sale, subject to the court's approval. The homeowner "DID NOT" die in the home. This neighborhood is famous for Christmas lights decoration community drive-by.

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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: Upper Hastings Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $199k1013k

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

Neighborhood: Upper Hastings Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Don Benito Fundamental School Primary Regular 633 25 6
Woodrow Wilson Middle School Middle Regular 570 27 4
Pasadena High School High Regular 1,903 84 6

Don Benito Fundamental School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 25
6
GreatSchools Rating

Woodrow Wilson Middle School

  • Education Level: Middle
  • # of students: 570
  • # of teachers: 27
4
GreatSchools Rating

Pasadena High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 84
6
GreatSchools Rating
 

$1,078,999$1,318,777$1,198,888

PURCHASE PRICE

$3,483$4,257$3,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,870
EXPENSES Loan Payment -$4,164
Property Tax -$1,165
Property Insurance -$70
Property Management Fees -$190
CASH FLOW
-$1,719

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.

$1,198,888

PROJECTED PRICE

$3,870

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$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$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,455

INVESTMENT

$323,455

Down Payment
$299,722
Rehab Estimate
$5,750
Closing Costs
$17,983

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $299,722
Loan Amount $899,166
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$267

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,870

    LIST RENT
  • $2.17

    LIST RENT PER SQFT
  • $3,925

    COMP ESTIMATED VALUE
  • $2.2

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,8703$4,0004$4,4005$4,400
$4,400
RENT COMPS ANALYSIS
  • 1420 Riviera Drive Pasadena, CA 2
    • 3 beds 1 baths ∙ 1,784 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,784 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,870
    • $2.17
    •  
  • 1060 Hastings Ranch Drive Pasadena, CA 1
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1951
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.04
    •  
  • 1320 Coronet Avenue Pasadena, CA 3
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1951
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.16
    •  
  • 3600 Cartwright Street Pasadena, CA 4
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1951
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.35
    •  
  • 3635 Cartwright Street Pasadena, CA 5
    • 4 beds 1 baths ∙ 1,952 Sqft ∙ Built 1951 4 beds 1 baths ∙ 1,952 Sqft ∙ Built 1951
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.25
    •  
PROPERTY LISTING DETAILS
Bessie Blazejewski
Ashby & Graff
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21004862
Last Updated: 01/23/2021
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