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264 S Seneca Circle # 40 Anaheim, CA 92805

3 Beds 3 Baths 1,199 sqft Built 1984

INVESTimate

$445,000

List Price

$2,640

$2,390 - $2,890

Rent Est.

$476,951  ( +7.18%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $371.14
  • 5 Days on Market
  • MLS # : DW20172545
  • Updated Date : 08/24/2020 at 16:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,199 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams - Downtown La

Listing Agent's Description

Prime location!! Stunning three bed, two and a half bath Condo in the highly sought Historic Colony Neighborhood located in Downtown Anaheim!!! Complex welcomes you with lush green yards, entertainment areas with pool and hot spa! Home presents spacious and bright bedrooms, open floor entertainment and family areas! Kitchen features granite counters, recessed lighting, and pergo flooring throughout! Master bedroom has its own beautiful master bathroom! Central air conditioning and heating! Home has a wonderful deck as well as balcony for relaxing evenings, overlooking the community!! Condo is located in the center of the community with a lot of privacy. Laundry hooks-ups in attached 2 car garage! Schools and shopping directly in the area!! Entertainment for this community is endless!! Disneyland, Knotts, Buena Park are just among a few highlighted areas! Come take a tour of this spectacular home and all this community has to offer!!

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MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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'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)
  • As part of Southern California area, Orange County 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)

PRICE & RENT TRENDS

Neighborhood: The Colony

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $199k742k

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

Neighborhood: The Colony

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $14693345

* 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
Benjamin Franklin Elementary School Primary Regular 908 31 6
Benjamin Franklin Elementary School Middle Regular 908 31 6
Anaheim High School High Regular 3,206 130 4

Benjamin Franklin Elementary School

  • Education Level: Primary
  • # of students: 908
  • # of teachers: 31
6
GreatSchools Rating

Benjamin Franklin Elementary School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 31
6
GreatSchools Rating

Anaheim High School

  • Education Level: High
  • # of students: 3,206
  • # of teachers: 130
4
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,642
Property Tax -$465
Property Insurance -$56
HOA -$395
Property Management Fees -$129
CASH FLOW
-$48

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$445,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.18%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$33,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $2,431

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,6404$2,7005$3,000
$3,000
RENT COMPS ANALYSIS
  • 264 S Seneca Circle Anaheim, 3
    • 3 beds 3 baths ∙ 1,199 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,199 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $2.20
    •  
  • 1567 W Tedmar Avenue Anaheim, 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1977
    LEASED 08/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.10
    •  
  • 1260 E La Palma Avenue Anaheim, 2
    • 3 beds 3 baths ∙ 1,282 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,282 Sqft ∙ Built 1985
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.03
    •  
  • 1525 W Tedmar Avenue Anaheim, 4
    • 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1977 3 beds 1 baths ∙ 1,400 Sqft ∙ Built 1977
    LEASED 06/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.93
    •  
  • 1359 S Walnut Street Anaheim, 5
    • 4 beds 3 baths ∙ 1,466 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,466 Sqft ∙ Built 1977
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.05
    •  
PROPERTY LISTING DETAILS
Kevin Messiha
Keller Williams - Downtown La
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20172545
Last Updated: 08/24/2020
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