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2834 E Orange Grove Boulevard Pasadena, CA 91107

4 Beds 1 Baths 2,110 sqft Built 1948

$999,000

List Price

$4,050

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $473.46
  • 2 Days on Market
  • MLS # : AR21004189
  • Updated Date : 01/09/2021 at 16:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,110 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Looking for a multi-family living delight? Here it is! The front part of the house has 2 bedrooms plus a den/formal dining room (use as 3rd bedroom) 1 full bath. Large living room with fireplace and built-in cabinets/shelving. Full kitchen facility. The back part of house features an upgraded kitchen combined with a living area and laundry facility. Huge bright master suite with sitting area. Skylight in the master bathroom. There are two set of AC/heating system, two kitchens and two sets of laundry facility. Priced for a quick AS IS sale.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Daisy-Villa

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k906k

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

Neighborhood: Daisy-Villa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Norma Coombs Elementary School Primary Regular 440 18 5
Woodrow Wilson Middle School Middle Regular 570 27 4
Pasadena High School High Regular 1,903 84 6

Norma Coombs Elementary School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 18
5
GreatSchools Rating

Woodrow Wilson Middle School

  • Education Level: Middle
  • # of students: 570
  • # of teachers: 27
4
GreatSchools Rating

Pasadena High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 84
6
GreatSchools Rating
 

$899,100$1,098,900$999,000

PURCHASE PRICE

$3,645$4,455$4,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,050
EXPENSES Loan Payment -$3,470
Property Tax -$971
Property Insurance -$78
Property Management Fees -$198
CASH FLOW
-$667

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.

$999,000

PROJECTED PRICE

$4,050

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.4%
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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,485

INVESTMENT

$270,485

Down Payment
$249,750
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,470

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$22,574

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,050

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $4,051

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,650
1$3,6502$3,8003$3,8504$4,0505$4,200
$4,200
RENT COMPS ANALYSIS
  • 2834 E Orange Grove Boulevard Pasadena, CA 4
    • 4 beds 1 baths ∙ 2,110 Sqft ∙ Built 1948 4 beds 1 baths ∙ 2,110 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.92
    •  
  • 2182 E Dudley Street Pasadena, CA 1
    • 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1931 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1931
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.81
    •  
  • 3665 Shadow Grove Road Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1950
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.11
    •  
  • 2885 Magna Vista Street Pasadena, CA 3
    • 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 1948 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 1948
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.71
    •  
  • 1270 Daveric Drive Pasadena, CA 5
    • 4 beds 1 baths ∙ 2,044 Sqft ∙ Built 1951 4 beds 1 baths ∙ 2,044 Sqft ∙ Built 1951
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.05
    •  
PROPERTY LISTING DETAILS
Xiao Cash Li
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21004189
Last Updated: 01/09/2021
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