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1508 E Broadway Anaheim, CA 92805

6 Beds 4 Baths 2,435 sqft Built 1954

$798,888

List Price

$3,540

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $328.09
  • 3 Days on Market
  • MLS # : PW21000170
  • Updated Date : 01/01/2021 at 21:22
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,435 sqft
  • Baths : 4 full
Listing Agent

Realty One Group West

Listing Agent's Description

Welcome to this spacious large property centrally located close to shopping, Disneyland, Lincoln Park, schools and major freeways. This home is perfect for any house hacker, large family, multigenerational residents and investors (detached garage can be converted to an ADU), with plenty of additional parking access through the alley. Boasting 6 bedrooms and 4 full bathrooms with 4 bedrooms on the main level including two master bedrooms on the main level, perfect for any of your family members that don’t want to use stairs. The other two bedrooms and extra bathroom are upstairs. The second story addition was added in 2005. Features include large living area, Central HVAC, reassessed lights, large bedrooms 4 with walk-in closets, low maintenance back yard, upgraded windows, carpet, travertine floors lots of storage. Large properties within this price range rarely hit the market.

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: East Anaheim

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $212k742k

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

Neighborhood: East Anaheim

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15943345

* 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
Abraham Lincoln Elementary School Primary Regular 947 34 1
Abraham Lincoln Elementary School Middle Regular 947 34 1
Anaheim High School High Regular 3,206 130 4

Abraham Lincoln Elementary School

  • Education Level: Primary
  • # of students: 947
  • # of teachers: 34
1
GreatSchools Rating

Abraham Lincoln Elementary School

  • Education Level: Middle
  • # of students: 947
  • # of teachers: 34
1
GreatSchools Rating

Anaheim High School

  • Education Level: High
  • # of students: 3,206
  • # of teachers: 130
4
GreatSchools Rating
 

$718,999$878,777$798,888

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$2,948
Property Tax -$836
Property Insurance -$86
Property Management Fees -$173
CASH FLOW
-$502

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.

$798,888

PROJECTED PRICE

$3,540

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.1%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,455

INVESTMENT

$217,455

Down Payment
$199,722
Rehab Estimate
$5,750
Closing Costs
$11,983

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,722
Loan Amount $599,166
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$26,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,540

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $3,490

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,5403$3,8004$3,925
$3,925
RENT COMPS ANALYSIS
  • 1508 E Broadway Anaheim, CA 2
    • 6 beds 4 baths ∙ 2,435 Sqft ∙ Built 1954 6 beds 4 baths ∙ 2,435 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,540
    • $1.45
    •  
  • 2553 E Bethel Drive Anaheim, CA 1
    • 5 beds 3 baths ∙ 2,262 Sqft ∙ Built 1968 5 beds 3 baths ∙ 2,262 Sqft ∙ Built 1968
    property image
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.37
    •  
  • 2903 E Collyer Lane Anaheim, CA 3
    • 5 beds 3 baths ∙ 2,563 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,563 Sqft ∙ Built 1963
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.48
    •  
  • 863 S Jasper Circle Anaheim, CA 4
    • 5 beds 4 baths ∙ 2,700 Sqft ∙ Built 1971 5 beds 4 baths ∙ 2,700 Sqft ∙ Built 1971
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,925
    • $1.45
    •  
PROPERTY LISTING DETAILS
Julio Arana Cortes
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21000170
Last Updated: 01/01/2021
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