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16137 Albarian Way 
Riverside, CA
92504
3 Beds 2 Baths 1,922 sqft
Built 1982
INVESTimate
$620,000
List Price
$170,050
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PROPERTY INFO
FACTS
- Built In 1982
- Price/Sqft : $322.58
- 7 Days on Market
- MLS # : IG20166496
- Updated Date : 08/24/2020 at 12:09
CONSTRUCTION
- Beds : 3
- Floor Size : 1,922 sqft
- Baths : 2 full
Listing Agent
Exp Realty Of California Inc.
Listing Agent's Description
****One of a kind Horse property in Riverside!!!!!!!!! This home sits on over an acre of land and is already fully set up to have up to 5 horses. The horse area is fully fenced with two separate fenced areas and 3 different horse corrals. There are 3 automatic water feeders hooked up for the horses as well as a small outside shed that has electric and is good for hay storage or whatever else you may want to put in there. The backyard also features a very nice grass area with beautiful mature shade trees as well as many fruit trees, grapevines and a tomato garden. The house itself is a beautiful Spanish style home with 3 bedrooms two bathrooms and is in emaculate condition! The master bedroom and guest bedroom are both very large and the master bedroom has a patio door that leads to the backyard. This home also features a very nice fully enclosed patio / sunroom off the back of the house that has lovely tile flooring and is enclosed with sliding glass doors so you have a full view of the beautiful backyard. The front yard features absolutely gorgeous landscaping!!! There are also two separate driveways, one goes down to the horse stalls for easy access to the shed for hay and storage and the other one pulls right into the garage. Don't miss out on a rare opportunity to own this amazing horse property, this home won't last for long!!!!!!
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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)
- 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'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)
- 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]
- 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, Inland Empire market inherits all the benefits from the area.
PRICE & RENT TRENDS
Neighborhood: Woodcrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Woodcrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,280 |
| EXPENSES | Loan Payment | -$2,288 |
| Property Tax | -$578 | |
| Property Insurance | -$74 | |
| Property Management Fees | -$135 | |
|
CASH FLOW
-$793
|
||
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.
$620,000
PROJECTED PRICE
$2,280
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.26% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$170,050
LOAN DETAILS
$2,288
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $155,000 |
| Loan Amount | $465,000 |
0.42
YEARS SAVED
$693
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,280
LIST RENT -
$1.19
LIST RENT PER SQFT
-
$2,210
COMP ESTIMATED VALUE -
$1.15
COMP AVG. RENT PER SQFT
Comps Range
-
16137 Albarian Way Riverside, 2
- 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 1982
- Rent
- Rent Per SQFT
- $2,280
- $1.19
-
16209 Gamble Avenue Riverside, 1
- 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,816 Sqft ∙ Built 1976
LEASED 07/08/19- Rent
- Rent Per SQFT
- $2,150
- $1.18
-
16201 Alta Cresta Avenue Riverside, 3
- 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 1997
LEASED 02/25/20- Rent
- Rent Per SQFT
- $2,295
- $1.12
PROPERTY LISTING DETAILS
Exp Realty Of California Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20166496
Last Updated: 08/24/2020
