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324 W Channing Street Azusa, CA 91702

3 Beds 2 Baths 1,350 sqft Built 1956

$629,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $465.93
  • 4 Days on Market
  • MLS # : AR21038024
  • Updated Date : 02/27/2021 at 17:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,350 sqft
  • Baths : 1 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Sharp North Azusa Contemporary nestled against the back drop of the San Gabriel Mountains. Flowing floor plan with tile foyer, tile foyer, open living room with stone whitewashed fireplace, inset bookcase & hardwood floors. Updated kitchen with built in stove & oven, dishwasher & tiled flooring leading out to adjacent dining area. Cozy den w closet opens through the slider to the rear yard, perfect for an extra guest room or office. Master-suite with double closet & tastefully remodeled 1/2 bath with custom marble topped vanity, marble floors & custom light sconces. Two additional amply sized bedrooms bright & airy w/built-in closets serviced by the upgraded hall bath with new subway tile, octagon tiled flooring, marble top vanity & custom hardware. A multitude of amenities such as vinyl windows & sliding doors, custom molding, new interior doors, new interior & exterior paint, newer electrical service & ductless air splits. Delightful rear yard with a shady covered patio, detailed concrete walkways, iceberg roses, rosemary & lavender & majestic mountain views. Double attached garage with laundry, concrete drive, inlaid brickwork & freshly landscaped drought resistant terrain. A special home awaits in the quiet foothills of Azusa! View the included Virtual Tour!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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: Azusa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $150k622k

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

Neighborhood: Azusa

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13812941

* 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
Henry Dalton Elementary School Primary Regular 307 12 4
Slauson Middle School Middle Regular 782 33 3
Azusa High School High Regular 1,393 65 5

Henry Dalton Elementary School

  • Education Level: Primary
  • # of students: 307
  • # of teachers: 12
4
GreatSchools Rating

Slauson Middle School

  • Education Level: Middle
  • # of students: 782
  • # of teachers: 33
3
GreatSchools Rating

Azusa High School

  • Education Level: High
  • # of students: 1,393
  • # of teachers: 65
5
GreatSchools Rating
 

$566,100$691,900$629,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$2,185
Property Tax -$663
Property Insurance -$60
Property Management Fees -$127
CASH FLOW
-$445

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.

$629,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

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$172,435

INVESTMENT

$172,435

Down Payment
$157,250
Rehab Estimate
$5,750
Closing Costs
$9,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,185

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $157,250
Loan Amount $471,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$12,203

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $2,602

    COMP ESTIMATED VALUE
  • $1.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4503$2,5904$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 324 W Channing Street Azusa, CA 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.92
    •  
  • 326 Cherry Hills Lane Azusa, CA 1
    • 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1973
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.97
    •  
  • 381 W Pebble Beach Lane Azusa, CA 2
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1973
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.94
    •  
  • 1227 N Pasadena Avenue Azusa, CA 4
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.81
    •  
  • 159 N Marcile Avenue Glendora, CA 5
    • 4 beds 1 baths ∙ 1,354 Sqft ∙ Built 1964 4 beds 1 baths ∙ 1,354 Sqft ∙ Built 1964
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.99
    •  
PROPERTY LISTING DETAILS
Debbie Pock
Berkshire Hathaway Homeservice
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21038024
Last Updated: 02/27/2021
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