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1826 Pontenova Avenue Hacienda Heights, CA 91745

3 Beds 2 Baths 1,627 sqft Built 1956

$708,900

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $435.71
  • 6 Days on Market
  • MLS # : PW20261007
  • Updated Date : 12/22/2020 at 06:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,627 sqft
  • Baths : 2 full
Listing Agent

Re/max Diamond

Listing Agent's Description

Single Level Pool Home in the High in Demand City of Hacienda Heights! Lovely ranch style home w/Solar, Sparkling Pool & Great functional floor plan with 3 bedrooms & 2 bathrooms. Formal living room open up to the adjacent family room w/French door access to your large backyard. Elegantly remodeled galley kitchen w/granite countertop, custom cabinets & stainless steel appliances, kitchen opens up to dining nook. All 3 bedrooms are abundant in size & share 2 large remodeled baths. On top of it all, Backyard is an entertainer's delight w/Huge sparkling pool, gazebo & tons of space to entertain family & friends! Two car garage w/direct access & over-sized gated driveway for extra parking! More Great Features include; Indoor laundry room, ceiling fan in each bedroom, recessed lighting & much more! Centrally located near Great schools, shopping, parks, grocery stores, dining, entertainment & easy freeway commute! Don't miss the Once in a Lifetime Opportunity to call this HOME. This one will 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

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
Mesa Robles School Primary Regular 1,080 42 9
Mesa Robles School Middle Regular 1,080 42 9
Glen A. Wilson High School High Regular 1,616 64 9

Mesa Robles School

  • Education Level: Primary
  • # of students: 1,080
  • # of teachers: 42
9
GreatSchools Rating

Mesa Robles School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 42
9
GreatSchools Rating

Glen A. Wilson High School

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

$638,010$779,790$708,900

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$2,616
Property Tax -$728
Property Insurance -$66
Property Management Fees -$139
CASH FLOW
-$709

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.

$708,900

PROJECTED PRICE

$2,840

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

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

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$193,609

INVESTMENT

$193,609

Down Payment
$177,225
Rehab Estimate
$5,750
Closing Costs
$10,634

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,616

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $177,225
Loan Amount $531,675
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,697

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $1.75

    LIST RENT PER SQFT
  • $2,859

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6503$2,7504$2,8005$2,840
$2,840
RENT COMPS ANALYSIS
  • 1826 Pontenova Avenue Hacienda Heights, CA 5
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $1.75
    •  
  • 1926 Kellerton Drive La Puente, CA 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.66
    •  
  • 16001 La Monde Street Hacienda Heights, CA 2
    • 3 beds 1 baths ∙ 1,429 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,429 Sqft ∙ Built 1968
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.85
    •  
  • 2051 Atlantida Drive Hacienda Heights, CA 3
    • 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1963
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.72
    •  
  • 1920 Olympus Avenue Hacienda Heights, CA 4
    • 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1956
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.80
    •  
PROPERTY LISTING DETAILS
Joseph Lee
Re/max Diamond
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20261007
Last Updated: 12/22/2020
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