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1853 N Allen Avenue Pasadena, CA 91104

3 Beds 3 Baths 2,165 sqft Built 1930

$1,100,000

List Price

$4,100

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1930
  • Price/Sqft : $508.08
  • 2 Days on Market
  • MLS # : OC21044421
  • Updated Date : 03/06/2021 at 16:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,165 sqft
  • Baths : 3 full
Listing Agent

Re/max Terrasol

Listing Agent's Description

1928 Spanish bungalow nestled in the foothills of Pasadena-Creativity flows in this artistic home with endless amounts of character and charm-This home is zoned for family living, live-work space and/or rental property-Majestic views of the San Gabriel mountains surround you in This spacious one level, home with outdoor terraces situated on a large 9800 sq ft lot-Living room has 10 ft high ceilings with striking hand-carved wood beams, and original wood flooring-Two oversized arched windows-Historic Batchelder tiles embellish the beautiful living room fireplace, Dining room ceiling has custom hand stamped beams-Generous sized kitchen has separate walk-in pantry-Many windows throughout-One of the three backyard areas is hardscaped and surrounded with lush landscaping , perfect for throwing elegant parties-Each bedroom has its own bath-Third bedroom is a studio apartment - Studio living room has beamed ceilings, gorgeous tiled flooring, and a cozy fireplace-Separate bedroom, large walk-in closet plus full bathroom- Central air ! Studio kitchen has custom black leather granite counters and stainless backsplash and appliances Its very own private entry ! 2 Detached single garages with custom carriage doors-Backyard has a variety of mature trees and tranquility-Included in the back yard is your own tucked away grow space to raise fruits and vegetables-The Details of architecture add beauty to this wonderful custom home-Currently their is an income producing business on property !

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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)
  • 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]
  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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 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: Altadena

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Altadena

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17693697

* 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
Webster Elementary School Primary Regular 474 18 6
Charles W. Eliot Arts Magnet Academy Middle Regular 504 27 2
Pasadena High School High Regular 1,903 84 6

Webster Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 18
6
GreatSchools Rating

Charles W. Eliot Arts Magnet Academy

  • Education Level: Middle
  • # of students: 504
  • # of teachers: 27
2
GreatSchools Rating

Pasadena High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 84
6
GreatSchools Rating
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,690$4,510$4,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,100
EXPENSES Loan Payment -$3,821
Property Tax -$1,135
Property Insurance -$79
Property Management Fees -$201
CASH FLOW
-$1,136

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.

$1,100,000

PROJECTED PRICE

$4,100

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.4%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$6,461

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,100

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $4,362

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,1003$4,3504$4,5005$4,500
$4,500
RENT COMPS ANALYSIS
  • 1853 N Allen Avenue Pasadena, CA 2
    • 3 beds 3 baths ∙ 2,165 Sqft ∙ Built 1930 3 beds 3 baths ∙ 2,165 Sqft ∙ Built 1930
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.89
    •  
  • 1829 Coolidge Avenue Altadena, CA 1
    • 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 1947 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 1947
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.87
    •  
  • 1916 E Woodlyn Road Pasadena, CA 3
    • 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 1939 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 1939
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $2.05
    •  
  • 2011 Minoru Drive Altadena, CA 4
    • 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 1935 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 1935
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.13
    •  
  • 2026 Sinaloa Avenue Altadena, CA 5
    • 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1926 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1926
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.01
    •  
PROPERTY LISTING DETAILS
Georgette Mannion
Re/max Terrasol
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21044421
Last Updated: 03/06/2021
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