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1917 W California St San Diego, CA 92110

3 Beds 2 Baths 1,616 sqft Built 1939

$1,069,000

List Price

$3,490

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1939
  • Price/Sqft : $661.51
  • 5 Days on Market
  • MLS # : 210002247
  • Updated Date : 01/29/2021 at 22:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,616 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

ORIGINAL OWNERS! Positioned at the top of West California, this 3BR 2BA home has unobstructed panoramic views of Dwtn, SD Bay, Point Loma. This home also has 2 large permitted rms on the 1st level and a basement that is large enough for a workout rm and another rm to make your own. With lots of parking onsite, there is a large lower portion of the lot to add a pool or ADU or both it is a blank canvas to get your creative juices flowing. New paint, LED can lights and move-in ready!

SEE MORE

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 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)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.
  • 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]
  • 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)
  • 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: Middletown

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $233k800k

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

Neighborhood: Middletown

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16273693

* 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
Dewey Elementary School Primary Regular 354 14 8
Correia Middle School Middle Regular 838 32 7
Point Loma High School High Regular 1,880 79 8

Dewey Elementary School

  • Education Level: Primary
  • # of students: 354
  • # of teachers: 14
8
GreatSchools Rating

Correia Middle School

  • Education Level: Middle
  • # of students: 838
  • # of teachers: 32
7
GreatSchools Rating

Point Loma High School

  • Education Level: High
  • # of students: 1,880
  • # of teachers: 79
8
GreatSchools Rating
 

$962,100$1,175,900$1,069,000

PURCHASE PRICE

$3,141$3,839$3,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,490
EXPENSES Loan Payment -$3,713
Property Tax -$1,034
Property Insurance -$68
Property Management Fees -$129
CASH FLOW
-$1,454

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,069,000

PROJECTED PRICE

$3,490

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 2.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$289,035

INVESTMENT

$289,035

Down Payment
$267,250
Rehab Estimate
$5,750
Closing Costs
$16,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,713

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $267,250
Loan Amount $801,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,055

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,501

    COMP ESTIMATED VALUE
  • $2.17

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2953$3,7004$4,200
$4,200
RENT COMPS ANALYSIS
  • 1917 W California St San Diego, CA 1
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1939
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3856 Wellborn St San Diego, CA 2
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1944
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.06
    •  
  • 3041 2nd Ave San Diego, CA 3
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1930
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.22
    •  
  • 2186 W California Street San Diego, CA 4
    • 4 beds 3 baths ∙ 1,893 Sqft ∙ Built 1943 4 beds 3 baths ∙ 1,893 Sqft ∙ Built 1943
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.22
    •  
PROPERTY LISTING DETAILS
Michael Panissidi
1.619.247.2114
Compass
BESbswy