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235 S Chandler Avenue #A Monterey Park, CA 91745

3 Beds 2 Baths 1,682 sqft Built 1981

$638,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $379.31
  • 5 Days on Market
  • MLS # : AR20254768
  • Updated Date : 12/09/2020 at 21:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,682 sqft
  • Baths : 2 full
Listing Agent

Re/max Elite Realty

Listing Agent's Description

LOCATION!LOCATION!Don't miss this opportunity to live in the most desirable neighborhood in the City of Monterey ,Mark Keppel High School & South-facing ,This Condo was built in 1981,3 bedrooms 2.75 bathrooms,This home features very nice open floor plan with beautiful laminate floors ,It has a master bedroom suite ,The kitchen has beautiful granite counter tops,and one of bedroom has a balcony. 2 car garage attached.This quiet location is close to Bus stops,supermarkets, shopping centers , great restaurants and easy access to freeways and downtown Los Angeles etc. LOW HOA fee cover trash and water etc.

SEE MORE

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: Ramona Acres

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $187k705k

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

Neighborhood: Ramona Acres

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21700180019002000210022002300240025002600270028002900Rent in $16352941

* 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
Monterey Highlands Elementary School Primary Regular 978 38 9
Monterey Highlands Elementary School Middle Regular 978 38 9
Mark Keppel High School High Regular 2,306 83 10

Monterey Highlands Elementary School

  • Education Level: Primary
  • # of students: 978
  • # of teachers: 38
9
GreatSchools Rating

Monterey Highlands Elementary School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 38
9
GreatSchools Rating

Mark Keppel High School

  • Education Level: High
  • # of students: 2,306
  • # of teachers: 83
10
GreatSchools Rating
 

$574,200$701,800$638,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,354
Property Tax -$705
Property Insurance -$68
HOA -$220
Property Management Fees -$126
CASH FLOW
-$893

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.

$638,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$174,820

INVESTMENT

$174,820

Down Payment
$159,500
Rehab Estimate
$5,750
Closing Costs
$9,570

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,354

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $159,500
Loan Amount $478,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $2,859

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5804$2,7005$2,800
$2,800
RENT COMPS ANALYSIS
  • 235 S Chandler Avenue Monterey Park, CA 3
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $1.53
    •  
  • 918 S Garfield Avenue Monterey Park, CA 1
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1979
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.71
    •  
  • 317 S Chandler Avenue Monterey Park, CA 2
    • 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1981
    property image
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.59
    •  
  • 602 N Huntington Avenue Monterey Park, CA 4
    • 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 1979
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.75
    •  
  • 319 N Lincoln Avenue Monterey Park, CA 5
    • 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 1984
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.75
    •  
PROPERTY LISTING DETAILS
Rui Xia Herbst
Re/max Elite Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR20254768
Last Updated: 12/09/2020
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