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1556 Rollins Drive City Terrace, CA 90063

3 Beds 2 Baths 1,322 sqft Built 1926

$629,900

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1926
  • Price/Sqft : $476.48
  • 3 Days on Market
  • MLS # : SR20251077
  • Updated Date : 12/04/2020 at 17:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,322 sqft
  • Baths : 2 full
Listing Agent

Re/max One

Listing Agent's Description

This Fantastic "CITY TERRACE" Multi-Unit Family Home w/ AMAZING VIEWS has just undergone a wonderful light refresh, has huge upside income potential & PRICED FOR AN IMMEDIATE SALE!! This 2 unit gem is perfect for a owner user or investor. The MAIN LEVEL UNIT has 2 "family-sized" Bedrooms & 1 Full Bath that was refurbished in 2013 w/ upgraded plumbing & electrical. The 2nd unit on the LOWER LEVEL is 1 Bedroom & 1 Full Bath w/ it's own separate entrance & also remodeled in 2013. Both units also utilize the convenience SOLAR ENERGY!! Their amenities include: a bright & open floor plan, Lg. Frml. Living Rm bursting with natural light., rich hardwood flooring throughout, newer paint, sizable Eat-In Kitchen, Lg. Entertainer's Deck w/ lovely views & a separate Private Patio & Porch Area. The property is situated near Cal State LA w/ convenient freeway access (710 & 10).... just minutes to Downtown LA & close to shopping, entertainment & restaurants. The PRIVATE BACKYARD provides GORGEOUS & TRANQUIL VIEWS of the Pasadena/Angeles mountains & more than enough room to entertain family & friends. Come see this AMAZING INVESTMENT OPPORTUNITY ASAP!!

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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: East Los Angeles

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $139k725k

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

Neighborhood: East Los Angeles

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14773316

* 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
City Terrace Elementary School Primary Regular 432 19 5
El Sereno Middle School Middle Regular 1,276 65 4
Abraham Lincoln Senior High School High Regular 1,219 54 5

City Terrace Elementary School

  • Education Level: Primary
  • # of students: 432
  • # of teachers: 19
5
GreatSchools Rating

El Sereno Middle School

  • Education Level: Middle
  • # of students: 1,276
  • # of teachers: 65
4
GreatSchools Rating

Abraham Lincoln Senior High School

  • Education Level: High
  • # of students: 1,219
  • # of teachers: 54
5
GreatSchools Rating
 

$566,910$692,890$629,900

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,324
Property Tax -$704
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$776

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.

$629,900

PROJECTED PRICE

$2,430

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 10.9%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

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$172,674

INVESTMENT

$172,674

Down Payment
$157,475
Rehab Estimate
$5,750
Closing Costs
$9,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,475
Loan Amount $472,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.84

    LIST RENT PER SQFT
  • $3,064

    COMP ESTIMATED VALUE
  • $2.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4303$2,9504$2,9955$3,299
$3,299
RENT COMPS ANALYSIS
  • 1556 Rollins Drive City Terrace, CA 2
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1926
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.84
    •  
  • 1904 Elm Street Alhambra, CA 1
    • 3 beds 1 baths ∙ 1,024 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,024 Sqft ∙ Built 1944
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.34
    •  
  • 2228 Orange Grove Avenue Alhambra, CA 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1911 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1911
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.27
    •  
  • 3334 City Terrace Drive Los Angeles, CA 4
    • 4 beds 3 baths ∙ 1,300 Sqft ∙ Built 1940 4 beds 3 baths ∙ 1,300 Sqft ∙ Built 1940
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.30
    •  
  • 2021 Vineburn Avenue Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1941
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,299
    • $2.36
    •  
PROPERTY LISTING DETAILS
Thomas Sidell
Re/max One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20251077
Last Updated: 12/04/2020
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