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2400 W Oak Avenue Fullerton, CA 92833

3 Beds 2 Baths 1,343 sqft Built 1952

$679,900

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $506.25
  • 5 Days on Market
  • MLS # : PW21002846
  • Updated Date : 01/08/2021 at 17:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,343 sqft
  • Baths : 2 full
Listing Agent

Samuel Douglas Re Group Inc

Listing Agent's Description

Gorgeously updated single level charmer on an expansive 10,692 Square Foot lot. Rarely does a quarter acre lot like this come available, the possibilities are endless with room for Sqft expansion and ADU possibilities. Upon entry you’re greeted with an open and functional layout offering an abundance of natural lighting setting a warm and inviting ambience. The living features soft white recessed lights with neutral color tones that flow throughout the home. The open kitchen offers newer cabinetry showcasing a bright white finish on granite countertops along with stainless steel appliances and plenty of storage area, a chefs delight! Further updates include freshly painted exterior/interior, newer dual pane windows, new interior doors, New walnut finish style laminate floors in common areas, remodeled kitchen, updated baths with designer flare and custom shower doors, Plush new carpeting in bedrooms, recessed lighting, updated fixtures throughout and so much more. Enjoy hosting and entertaining with family in the sprawling park like backyard, this lot is truly one of a kind. Come tour this one today!

SEE MORE

MARKET HIGHLIGHTS

  • 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 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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)
  • 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.

PRICE & RENT TRENDS

Zip Code: 92833

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $230k742k

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

Zip Code: 92833

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15703345

* 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
Valencia Park Elementary School Primary Regular 665 31 5
Valencia Park Elementary School Middle Regular 665 31 5
Buena Park High School High Regular 1,940 68 5

Valencia Park Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 31
5
GreatSchools Rating

Valencia Park Elementary School

  • Education Level: Middle
  • # of students: 665
  • # of teachers: 31
5
GreatSchools Rating

Buena Park High School

  • Education Level: High
  • # of students: 1,940
  • # of teachers: 68
5
GreatSchools Rating
 

$611,910$747,890$679,900

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,362
Property Tax -$669
Property Insurance -$60
Property Management Fees -$138
CASH FLOW
-$408

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.

$679,900

PROJECTED PRICE

$2,820

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$185,924

INVESTMENT

$185,924

Down Payment
$169,975
Rehab Estimate
$5,750
Closing Costs
$10,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,362

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $169,975
Loan Amount $509,925
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$15,249

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $2.1

    LIST RENT PER SQFT
  • $2,824

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8203$2,8504$2,9005$2,950
$2,950
RENT COMPS ANALYSIS
  • 2400 W Oak Avenue Fullerton, CA 2
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $2.10
    •  
  • 1018 S Pacific Drive Fullerton, CA 1
    • 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1954
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.25
    •  
  • 2455 W Cherry Avenue Fullerton, CA 3
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1955
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.15
    •  
  • 1520 W Olive Avenue Fullerton, CA 4
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1954
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.00
    •  
  • 1639 W Walnut Avenue Fullerton, CA 5
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1955
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.01
    •  
PROPERTY LISTING DETAILS
Brian Loyola
Samuel Douglas Re Group Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21002846
Last Updated: 01/08/2021
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