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1530 Alameda Street Pomona, CA 91768

3 Beds 3 Baths 1,640 sqft Built 1950

$598,500

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $364.94
  • 4 Days on Market
  • MLS # : CV20238036
  • Updated Date : 11/14/2020 at 19:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,640 sqft
  • Baths : 3 full
Listing Agent

Wheeler Steffen Sotheby's Int.

Listing Agent's Description

QUAINT UPDATED MID-CENTURY BUNGALOW + GUEST HOUSE. Located in coveted Hacienda Park Historic District. Main home includes 2 bedrooms + Den & 2 baths. Enjoy the sun-filled floor plan that shows bright and light with large sliding glass doors. Meticulous updates throughout the home show pride of ownership. Recent updates include: interior and exterior paint, central AC/Heat, updated electrical and plumbing (copper), remodeled kitchen and bathrooms with marble counter tops and new cabinets, refinished oak hard wood floors, updated laundry room plus so much more. Formal dining room close to the kitchen is ideal for entertaining. Large living room features built in storage and handsome fireplace. Separate Guest house with studio bedroom plus a bathroom. Spacious grassy yard with plenty of room for your guests, kids or pets to enjoy. 2-car garage with newer doors and motors with both street and alley access + long driveway. Convenient location near prestigious Ganesha Hills Park, Fairplex, & Pomona Valley Hospital. Close to freeways & transportation to Los Angeles, Orange, and San Bernardino counties. Drive by or call today!

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: Pomona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $138k622k

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

Neighborhood: Pomona

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12562941

* 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
La Verne Science And Technology Charter School Primary Regular 233 11 4
La Verne Science And Technology Charter School Middle Regular 233 11 4
Palomares Academy High Regular 476 24 4

La Verne Science And Technology Charter School

  • Education Level: Primary
  • # of students: 233
  • # of teachers: 11
4
GreatSchools Rating

La Verne Science And Technology Charter School

  • Education Level: Middle
  • # of students: 233
  • # of teachers: 11
4
GreatSchools Rating

Palomares Academy

  • Education Level: High
  • # of students: 476
  • # of teachers: 24
4
GreatSchools Rating
 

$538,650$658,350$598,500

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,208
Property Tax -$660
Property Insurance -$67
Property Management Fees -$118
CASH FLOW
-$653

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.

$598,500

PROJECTED PRICE

$2,400

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,353

INVESTMENT

$164,353

Down Payment
$149,625
Rehab Estimate
$5,750
Closing Costs
$8,978

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,208

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,625
Loan Amount $448,875
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $2,366

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3003$2,4004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1530 Alameda Street Pomona, CA 4
    • 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 1950 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.46
    •  
  • 2018 Las Vegas Avenue Pomona, CA 1
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1963
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.50
    •  
  • 559 Chester Place Pomona, CA 2
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1940
    property image
    LEASED 07/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.59
    •  
  • 1340 Hillcrest Drive Pomona, CA 3
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1946
    property image
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.32
    •  
  • 2145 Victoria Way Pomona, CA 5
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1967
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.36
    •  
PROPERTY LISTING DETAILS
Geoffrey Hamill
Wheeler Steffen Sotheby's Int.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20238036
Last Updated: 11/14/2020
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