Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

28922 Oakview Lane Lake Forest, CA 92679

3 Beds 3 Baths 1,620 sqft Built 1985

$734,900

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $453.64
  • 4 Days on Market
  • MLS # : OC21056644
  • Updated Date : 03/18/2021 at 10:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 3 full
Listing Agent

Bullock Russell Re Services

Listing Agent's Description

Welcome to Sycamore Ridge in Portola Hills. This nicely updated home has great views of Saddleback Mountain and is located on a Cul de Sac. As you walk to the front door you can see the real pride in ownership. The downstairs includes a bedroom, full bathroom, dining area, updated kitchen with bench seating for the kitchen table, lots of windows for natural light along with an open family room featuring high ceilings and large windows to take in the incredible mountain views. Upstairs boasts the master bedroom with great mountain views, attached bathroom and walk-in closet. Additional bedroom with attached full bath and a large loft area perfect for your office. The open back yard with great mountain views is perfect for entertaining. Including Solar, double pane windows and whole house fan. Located close to the clubhouse featuring pool, jacuzzi, tennis and large BBQ area, Concourse Park, award winning Portola Hills Elementary school and excellent hiking and biking trails. Dining, entertainment, movie theaters and Lake Forest Sports Park are just minutes away.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Portola Hills

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900k950kPrice in $272k952k

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

Neighborhood: Portola Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000Rent in $19684166

* 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
Serrano Intermediate School Middle Regular 1,233 43 7
El Toro High School High Magnet 2,548 98 8
Serrano Intermediate School Middle Unknown NA

Serrano Intermediate School

  • Education Level: Middle
  • # of students: 1,233
  • # of teachers: 43
7
GreatSchools Rating

El Toro High School

  • Education Level: High
  • # of students: 2,548
  • # of teachers: 98
8
GreatSchools Rating

Serrano Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$661,410$808,390$734,900

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,553
Property Tax -$632
Property Insurance -$66
HOA -$144
Property Management Fees -$148
CASH FLOW
-$523

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$734,900

PROJECTED PRICE

$3,020

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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$200,499

INVESTMENT

$200,499

Down Payment
$183,725
Rehab Estimate
$5,750
Closing Costs
$11,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,553

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $183,725
Loan Amount $551,175
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,234

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $1.86

    LIST RENT PER SQFT
  • $3,143

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,975
1$2,9752$3,0203$3,1504$3,2005$3,295
$3,295
RENT COMPS ANALYSIS
  • 28922 Oakview Lane Lake Forest, CA 2
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $1.86
    •  
  • 19511 Highridge Way Lake Forest, CA 1
    • 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1991
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $1.91
    •  
  • 28845 Woodspring Circle Lake Forest, CA 3
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1988
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.94
    •  
  • 19041 Wildwood Circle Lake Forest, CA 4
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1987
    property image
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.98
    •  
  • 28871 Mountain View Lane Lake Forest, CA 5
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1987
    property image
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.93
    •  
PROPERTY LISTING DETAILS
Christopher Reid
Bullock Russell Re Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21056644
Last Updated: 03/18/2021
BESbswy