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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $419.72
- 6 Days on Market
- MLS # : PW20249424
- Updated Date : 12/10/2020 at 14:48
CONSTRUCTION
- Beds : 4
- Floor Size : 1,856 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Ambassador
Listing Agent's Description
LOCATION, LOCATION, LOCATION!!!! Do not miss this amazing opportunity to own this great 4 bedrooms, 2 bathrooms corner home in one of the most desirable neighborhoods in Hacienda Heights. This beautiful home has been completely remodeled, and sits in a 10,457 lot &1856 sqft living area. The kitchen is fully remodeled with new shaker style wood cabinets, quartz countertops, recessed lighting, and all new stainless steel appliances. Spacious living room and family den with two fireplaces for those cold nights in the winter. Luxury vinyl plank floors, new windows, central ac, new carpets in bedrooms, remodeled bathrooms, large master bedroom with its own bath, new automatic door with remote, two-car attached garage with access to inside the house, separate inside laundry room with plenty of cabinets for storage, fresh interior and exterior paint, new driveway & huge backyard. There are countless more features but you need to come and see for yourself. Presently there is a non-working swimming pool. This great opportunity in this desirable neighborhood may not last!
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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: Hacienda Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hacienda Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,830 |
| EXPENSES | Loan Payment | -$2,874 |
| Property Tax | -$784 | |
| Property Insurance | -$72 | |
| Property Management Fees | -$139 | |
|
CASH FLOW
-$1,039
|
||
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.
$779,000
PROJECTED PRICE
$2,830
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 5.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$212,185
LOAN DETAILS
$2,874
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $194,750 |
| Loan Amount | $584,250 |
0.42
YEARS SAVED
$1,183
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,830
LIST RENT -
$1.52
LIST RENT PER SQFT
-
$2,914
COMP ESTIMATED VALUE -
$1.57
COMP AVG. RENT PER SQFT
Comps Range
-
15405 Facilidad Street Hacienda Heights, CA 3
- 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1962
- Rent
- Rent Per SQFT
- $2,830
- $1.52
-
15056 Pintura Drive Hacienda Heights, CA 1
- 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1963
LEASED 05/02/20- Rent
- Rent Per SQFT
- $2,800
- $1.56
-
2904 Adelita Drive Hacienda Heights, CA 2
- 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 1960
LEASED 09/29/20- Rent
- Rent Per SQFT
- $2,800
- $1.60
-
2734 Montellano Avenue Hacienda Heights, CA 4
- 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1962
LEASED 10/19/19- Rent
- Rent Per SQFT
- $3,000
- $1.65
-
2825 Managua Place Hacienda Heights, CA 5
- 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1961 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1961
LEASED 06/26/20- Rent
- Rent Per SQFT
- $3,000
- $1.47
PROPERTY LISTING DETAILS
Coldwell Banker Ambassador
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20249424
Last Updated: 12/10/2020
