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16015 Amber Valley Drive Whittier, CA 90604

3 Beds 2 Baths 1,314 sqft Built 1960

$670,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $509.89
  • 3 Days on Market
  • MLS # : PW21004643
  • Updated Date : 01/08/2021 at 20:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,314 sqft
  • Baths : 2 full
Listing Agent

Century 21 Westworld Realty

Listing Agent's Description

Very clean and upgraded home in East Whittier. Kitchen remodeled in 2019 and dishwasher, gas range and hood vent all replaced at that time. There is also a RO water filtration system. Both bathrooms were renovated in 2016, including vanities, tile floor, tub and fixtures. Laminate floors installed throughout the house in 2015 including garage which was converted with insulated walls, recessed lighting and storage space. Dual pane windows throughout and two newer sliding glass doors. Beautiful backyard completely landscaped last month with new grass, sprinkler system and garden boxes. Newer vinyl fence and bark décor accents beautiful lawn. Additional space behind vinyl fence in backyard has been improved with retaining wall and fruit trees. Covered patio with gas hookup for BBQ that was installed in 2017. New concrete slab on East side of house. Interior has been painted and dining room opened up to living room. Fireplace in living room. Newer water heater. Laundry in garage with direct access to house. Great value for this beautiful home!!!

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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 la Mirada

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

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

Neighborhood: East la Mirada

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14492941

* 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
Meadow Green Elementary School Primary Regular 487 17 8
Meadow Green Elementary School Middle Regular 487 17 8
La Habra High School High Magnet 2,230 73 7

Meadow Green Elementary School

  • Education Level: Primary
  • # of students: 487
  • # of teachers: 17
8
GreatSchools Rating

Meadow Green Elementary School

  • Education Level: Middle
  • # of students: 487
  • # of teachers: 17
8
GreatSchools Rating

La Habra High School

  • Education Level: High
  • # of students: 2,230
  • # of teachers: 73
7
GreatSchools Rating
 

$603,000$737,000$670,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$2,327
Property Tax -$663
Property Insurance -$59
Property Management Fees -$126
CASH FLOW
-$605

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.

$670,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$15k

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$183,300

INVESTMENT

$183,300

Down Payment
$167,500
Rehab Estimate
$5,750
Closing Costs
$10,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,327

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,500
Loan Amount $502,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $2,575

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,570
1$2,5702$2,6503$2,7004$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 16015 Amber Valley Drive Whittier, CA 1
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $1.96
    •  
  • 15939 Lashburn Street Whittier, CA 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1956
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.96
    •  
  • 16021 Marlinton Drive Whittier, CA 3
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1960
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.95
    •  
  • 11706 Fireside Drive Whittier, CA 4
    • 4 beds 2 baths ∙ 1,437 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,437 Sqft ∙ Built 1961
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.95
    •  
  • 12310 Cullman Avenue Whittier, CA 5
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1962
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.98
    •  
PROPERTY LISTING DETAILS
Paul Gusiff
Century 21 Westworld Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21004643
Last Updated: 01/08/2021
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