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2764 Montellano Avenue Hacienda Heights, CA 91745

4 Beds 2 Baths 1,859 sqft Built 1962

$875,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $470.68
  • 2 Days on Market
  • MLS # : P1-3034
  • Updated Date : 01/23/2021 at 13:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,859 sqft
  • Baths : 2 full
Listing Agent

Cal Assets & Associates

Listing Agent's Description

POTENTIAL GALORE! This 4Br + 2Baths POOL home w/a spacious great room sits on a huge lot. There is a light & bright formal living room. The remodeled kitchen offers granite counters, lot of cabinets & a separate dining area. The spacious main bedroom is complimented w/a ensuite 3/4 bath. There are 3 other bedrooms that are served by full hallway bath. Additionally, this lovely maintained home offers many upgrades such a laminated/pre-fabricated wood flooring, tile flooring, a lovely enclosed patio (without permit), copper plumbing and a 2-car garage. The Los Altos Elementary school is within blocks! This huge lots offers plenty of opportunity for potential additions.

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: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Hacienda Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15593697

* 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
Los Altos Elementary School Primary Regular 417 16 6
Newton Middle School Middle Regular 549 23 7
Los Altos High School High Regular 2,061 75 7

Los Altos Elementary School

  • Education Level: Primary
  • # of students: 417
  • # of teachers: 16
6
GreatSchools Rating

Newton Middle School

  • Education Level: Middle
  • # of students: 549
  • # of teachers: 23
7
GreatSchools Rating

Los Altos High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 75
7
GreatSchools Rating
 

$787,500$962,500$875,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$3,039
Property Tax -$891
Property Insurance -$72
Property Management Fees -$144
CASH FLOW
-$1,207

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.

$875,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.1%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $1.58

    LIST RENT PER SQFT
  • $2,919

    COMP ESTIMATED VALUE
  • $1.57

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$2,9404$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 2764 Montellano Avenue Hacienda Heights, CA 3
    • 4 beds 2 baths ∙ 1,859 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,859 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $1.58
    •  
  • 15056 Pintura Drive Hacienda Heights, CA 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1963
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.56
    •  
  • 2904 Adelita Drive Hacienda Heights, CA 2
    • 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 1960
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.60
    •  
  • 2734 Montellano Avenue Hacienda Heights, CA 4
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1962
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.65
    •  
  • 2825 Managua Place Hacienda Heights, CA 5
    • 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1961 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1961
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.47
    •  
PROPERTY LISTING DETAILS
Lana La Oy Ng
Cal Assets & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-3034
Last Updated: 01/23/2021
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