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211 S Wilson Avenue #208 Pasadena, CA 91106

3 Beds 1 Baths 1,498 sqft Built 1965

$679,800

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $453.81
  • 3 Days on Market
  • MLS # : AR21002449
  • Updated Date : 01/08/2021 at 16:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,498 sqft
  • Baths : 1 full
Listing Agent

Re/max Premier Properties

Listing Agent's Description

This exquisite condo complex is situated in the desirable Downtown-Mentor/Catalina neighborhood of SE Pasadena. Centrally located near park, Caltech, PCC, Art Center, Pasadena Playhouse, the Huntington Library, Rose Bowl Stadium, The Shops on Lake Avenue, Old Town Pasadena. Along with easy access to 210 freeway and the Metro Gold Line. The complex features a lush manicured landscape and offers a secured gated entry, elevator access, subterranean parking, and a central courtyard with a seating area which offers a great outdoor place for unlimited relaxation. You will love the atmosphere of natural warmth and the living environment in both the living room and dining area, which double as an open area for after-work relaxation or enjoying a homemade meal. The gourmet kitchen boasts dark cabinetry with Caesar stone countertops, glass tile backsplash, recessed lighting, and a breakfast nook for morning coffee or a light meal. Both the kitchen and living room connect to an enclosed large balcony perfect for cozying up with a great book or peaceful contemplation. There are three nicely sized bedrooms with an in-unit laundry and an abundance of storage space. This turnkey condo was exquisitely designed to be elegant and is superbly situated to take advantage of unlimited opportunities for shopping, entertainment, relaxation and networking for an effortless lifestyle. Move Right In - ALL HOA Fees covers ALL Utilities (Electricity, Gas, Water & Sewer) & Earthquake Insurance.

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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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Grant Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $174k856k

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

Neighborhood: Grant Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15803697

* 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
Mckinley School Primary Regular 1,024 41 3
Blair School Middle Magnet 1,026 54 4
Blair School High Magnet 1,026 54 4

Mckinley School

  • Education Level: Primary
  • # of students: 1,024
  • # of teachers: 41
3
GreatSchools Rating

Blair School

  • Education Level: Middle
  • # of students: 1,026
  • # of teachers: 54
4
GreatSchools Rating

Blair School

  • Education Level: High
  • # of students: 1,026
  • # of teachers: 54
4
GreatSchools Rating
 

$611,820$747,780$679,800

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,361
Property Tax -$661
Property Insurance -$63
HOA -$696
Property Management Fees -$148
CASH FLOW
-$909

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.

$679,800

PROJECTED PRICE

$3,020

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,897

INVESTMENT

$185,897

Down Payment
$169,950
Rehab Estimate
$5,750
Closing Costs
$10,197

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,361

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $169,950
Loan Amount $509,850
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$190

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $2.02

    LIST RENT PER SQFT
  • $3,329

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9503$3,0204$3,2505$3,600
$3,600
RENT COMPS ANALYSIS
  • 211 S Wilson Avenue Pasadena, CA 3
    • 3 beds 1 baths ∙ 1,498 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,498 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $2.02
    •  
  • 55 S Berkeley Avenue Pasadena, CA 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1959
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.93
    •  
  • 121 S Wilson Avenue Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 1979
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.36
    •  
  • 330 Cordova Street Pasadena, CA 4
    • 3 beds 3 baths ∙ 1,463 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,463 Sqft ∙ Built 1981
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.22
    •  
  • 469 S Catalina Pasadena, CA 5
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1973
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.38
    •  
PROPERTY LISTING DETAILS
Jerry Sun
Re/max Premier Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21002449
Last Updated: 01/08/2021
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