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4627 Collis Avenue Los Angeles, CA 90032

3 Beds 1 Baths 1,546 sqft Built 1941

$929,000

List Price

$3,260

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $600.91
  • 4 Days on Market
  • MLS # : 21683106
  • Updated Date : 01/23/2021 at 20:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,546 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Located on tree-lined street, directly adjacent to South Pasadena, this home is sure to delight. Interior features include an open-concept great room with stunning kitchen, updated bathrooms, well-maintained hardwood floors, large primary bedroom with en suite bathroom and walk-in closet, dual pane windows with plantation shutters, and custom moldings throughout. Sliding doors lead to a large patio for entertaining plus a spacious hillside area with a view of Elephant Hill and the hills of South Pasadena. With easy access to Ernest Debs Regional Park, the hip vibe of Highland Park, the culture of Pasadena, and Downtown Los Angeles, this location provides a secluded neighborhood feel with the convenience of urban living.

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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: Monterey Hills

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $163k725k

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

Neighborhood: Monterey Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15963316

* 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
Bushnell Way Elementary School Primary Regular 343 16 2
Luther Burbank Middle School Middle Regular 883 36 5
Benjamin Franklin High School High Regular 1,460 56 6

Bushnell Way Elementary School

  • Education Level: Primary
  • # of students: 343
  • # of teachers: 16
2
GreatSchools Rating

Luther Burbank Middle School

  • Education Level: Middle
  • # of students: 883
  • # of teachers: 36
5
GreatSchools Rating

Benjamin Franklin High School

  • Education Level: High
  • # of students: 1,460
  • # of teachers: 56
6
GreatSchools Rating
 

$836,100$1,021,900$929,000

PURCHASE PRICE

$2,934$3,586$3,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,260
EXPENSES Loan Payment -$3,227
Property Tax -$965
Property Insurance -$64
Property Management Fees -$160
CASH FLOW
-$1,156

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.

$929,000

PROJECTED PRICE

$3,260

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 12.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$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$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$251,935

INVESTMENT

$251,935

Down Payment
$232,250
Rehab Estimate
$5,750
Closing Costs
$13,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,227

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $232,250
Loan Amount $696,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,250

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,260

    LIST RENT
  • $2.11

    LIST RENT PER SQFT
  • $3,591

    COMP ESTIMATED VALUE
  • $2.32

    COMP AVG. RENT PER SQFT
Comps Range
$3,260
1$3,2602$3,4503$3,5004$3,9505$4,200
$4,200
RENT COMPS ANALYSIS
  • 4627 Collis Avenue Los Angeles, CA 1
    • 3 beds 1 baths ∙ 1,546 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,546 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $3,260
    • $2.11
    •  
  • 1340 Elm Park Street South Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1950
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.22
    •  
  • 1510 Rollin Street South Pasadena, CA 3
    • 3 beds 1 baths ∙ 1,584 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,584 Sqft ∙ Built 1948
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.21
    •  
  • 1216 Oak Hill Avenue South Pasadena, CA 4
    • 4 beds 1 baths ∙ 1,710 Sqft ∙ Built 1948 4 beds 1 baths ∙ 1,710 Sqft ∙ Built 1948
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.31
    •  
  • 327 Livermore Terrace Los Angeles, CA 5
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1924 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1924
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.55
    •  
PROPERTY LISTING DETAILS
Mary Hill
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21683106
Last Updated: 01/23/2021
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