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1448 W West Avenue Fullerton, CA 92833

3 Beds 2 Baths 1,418 sqft Built 1955

$699,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $492.95
  • 5 Days on Market
  • MLS # : OC21016336
  • Updated Date : 01/29/2021 at 19:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,418 sqft
  • Baths : 2 full
Listing Agent

Owning Corporation

Listing Agent's Description

Have you been searching for a home in Fullerton? Look no further! This turnkey 3 bedroom , 2 bath single story home sits on a lovely street awaiting your arrival. The home is warm and inviting with natural light and an open floorplan boasting many upgrades including: fresh paint, vinyl windows and doors, new light fixtures, faucets and hardware, ceiling fans, recessed lighting, fireplace with quartz surround in living room and hardwood flooring throughout. Kitchen is updated with quartz counters and a modern backsplash as well as new stainless steel appliances. Bathrooms are all updated as well with new vanities, counters, tile and fixtures! Master bedroom is oversized and can serve as both a bedroom and a separate sitting area or office space. It also has two separate closests, what more can you ask for? Fruit trees and new landscaping in front, cozy fireplace a covered patio and grassy area in the backyard for you to enjoy, great Fullerton schools. Welcome home!

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

Zip Code: 92833

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $230k742k

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

Zip Code: 92833

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15703345

* 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
Nicolas Junior High School Middle Regular 738 31 4
Sunny Hills High School High Regular 2,264 78 9

Nicolas Junior High School

  • Education Level: Middle
  • # of students: 738
  • # of teachers: 31
4
GreatSchools Rating

Sunny Hills High School

  • Education Level: High
  • # of students: 2,264
  • # of teachers: 78
9
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$2,428
Property Tax -$687
Property Insurance -$61
Property Management Fees -$147
CASH FLOW
-$314

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.

$699,000

PROJECTED PRICE

$3,010

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$22,572

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $2.12

    LIST RENT PER SQFT
  • $3,024

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9003$2,9504$2,9505$3,010
$3,010
RENT COMPS ANALYSIS
  • 1448 W West Avenue Fullerton, CA 5
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $2.12
    •  
  • 1520 W Olive Avenue Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1954
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.00
    •  
  • 1431 W Olive Avenue Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1957
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.27
    •  
  • 1501 S Pacific Drive Fullerton, CA 3
    • 4 beds 2 baths ∙ 1,309 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,309 Sqft ∙ Built 1954
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.25
    •  
  • 1639 W Walnut Avenue Fullerton, CA 4
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.01
    •  
PROPERTY LISTING DETAILS
Jenna Whitehead
Owning Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21016336
Last Updated: 01/29/2021
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