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2601 Wilshire Avenue La Habra, CA 90631

3 Beds 2 Baths 1,520 sqft Built 1957

$750,000

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $493.42
  • 3 Days on Market
  • MLS # : OC21025031
  • Updated Date : 02/06/2021 at 08:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,520 sqft
  • Baths : 2 full
Listing Agent

The Agency

Listing Agent's Description

Pride of Ownership Shows! Single-level, Three bedrooms, Two full baths. Open floor plan family room with custom paint and a beautiful, white wood mantel with custom built-in gas fireplace - it's a must-see! Kitchen features white cabinets along with Silestone countertops for low maintenance. Double-pane windows and wood floor throughout the home. Backyard has a variety of citrus trees and a large Fuji apple tree. Large spacious driveway with RV parking.

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: 90631

ZipNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $217k742k

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

Zip Code: 90631

ZipNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200Rent in $17143345

* 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
Rancho-starbuck Intermediate School Middle Regular 774 28 8
La Habra High School High Magnet 2,230 73 7

Rancho-starbuck Intermediate School

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 28
8
GreatSchools Rating

La Habra High School

  • Education Level: High
  • # of students: 2,230
  • # of teachers: 73
7
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$2,605
Property Tax -$737
Property Insurance -$64
Property Management Fees -$145
CASH FLOW
-$591

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.

$750,000

PROJECTED PRICE

$2,960

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.6%
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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$9,610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,960

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $2,964

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$2,9604$3,0755$3,200
$3,200
RENT COMPS ANALYSIS
  • 2601 Wilshire Avenue La Habra, CA 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,960
    • $1.95
    •  
  • 11603 Groveland Avenue Whittier, CA 1
    • 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1960
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.10
    •  
  • 10847 Lindesmith Avenue Whittier, CA 2
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1955
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.75
    •  
  • 2620 W Cobblestone Road La Habra, CA 4
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1963
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,075
    • $1.93
    •  
  • 360 Deanna Street La Habra, CA 5
    • 4 beds 1 baths ∙ 1,582 Sqft ∙ Built 1960 4 beds 1 baths ∙ 1,582 Sqft ∙ Built 1960
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.02
    •  
PROPERTY LISTING DETAILS
Cecilia Mcdermott
The Agency
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21025031
Last Updated: 02/06/2021
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