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16508 Abascal Drive Hacienda Heights, CA 91745

4 Beds 3 Baths 2,213 sqft Built 1972

$878,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $396.75
  • 5 Days on Market
  • MLS # : WS21016461
  • Updated Date : 01/30/2021 at 09:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,213 sqft
  • Baths : 3 full
Listing Agent

Re/max 2000 Realty

Listing Agent's Description

Gorgeous turnkey 2 story home located in the quiet and convenient wonderful neighborhood of Hacienda Heights. The home features 4 bedrooms and 3 bathrooms, main floor bedroom with a private bathroom, 2,213 sq/ft living space and 9,529 sq/ft large Lot with Swimming pool. Oversize driveway. Newly laminate Flooring & Neutral painted In/Exterior throughout the home. All bathrooms and double pane windows completely updated. The kitchen is open and bright with many cabinetry, convenient center island w/breakfast bar + extra storage. The kitchen and family room overlooks the front & side yard. Relax in the spacious yard surrounded with nice landscaping. Upper level features a spacious master suite, extra closets and dual vanities. Living room includes a cozy fireplace and sliding doors leading to your backyard. Newly Tankless water heater, swimming pool equipment, garage door and newly tile roof. Close to Hsi Lai Temple, super-markets, restaurants, parks, shopping centers & school in addition easy access to the 60 & 605 Freeway. **Don't miss this opportunity** Must see to appreciate!!! . Enjoy a true entertainers style home. This house will sell FAST!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15593697

* 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
Grazide Elementary School Primary Regular 582 21 8
Glen A. Wilson High School High Regular 1,616 64 9

Grazide Elementary School

  • Education Level: Primary
  • # of students: 582
  • # of teachers: 21
8
GreatSchools Rating

Glen A. Wilson High School

  • Education Level: High
  • # of students: 1,616
  • # of teachers: 64
9
GreatSchools Rating
 

$790,200$965,800$878,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$3,050
Property Tax -$902
Property Insurance -$81
Property Management Fees -$162
CASH FLOW
-$894

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.

$878,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$238,420

INVESTMENT

$238,420

Down Payment
$219,500
Rehab Estimate
$5,750
Closing Costs
$13,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,050

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $219,500
Loan Amount $658,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$5,450

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $3,425

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2003$3,3004$3,3005$3,400
$3,400
RENT COMPS ANALYSIS
  • 16508 Abascal Drive Hacienda Heights, CA 4
    • 4 beds 3 baths ∙ 2,213 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,213 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.49
    •  
  • 1940 Delmesa Avenue Hacienda Heights, CA 1
    • 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1977
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.48
    •  
  • 16267 Santa Bianca Drive Hacienda Heights, CA 2
    • 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 1964 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 1964
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.50
    •  
  • 16537 Circle Hill Lane Hacienda Heights, CA 3
    • 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1975
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.63
    •  
  • 2523 Sarandi Grande Drive Hacienda Heights, CA 5
    • 4 beds 3 baths ∙ 2,158 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,158 Sqft ∙ Built 1968
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.58
    •  
PROPERTY LISTING DETAILS
Ister Wong
Re/max 2000 Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21016461
Last Updated: 01/30/2021
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