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500 S Oak Knoll Avenue #45 Pasadena, CA 91101

3 Beds 2 Baths 1,552 sqft Built 1973

$719,900

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $463.85
  • 29 Days on Market
  • MLS # : OC21031046
  • Updated Date : 03/13/2021 at 10:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,552 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty- Yl/ Ah

Listing Agent's Description

Grand Opening Weekend!! Rarely available, large, top level corner unit with mountain view, 3 bedrooms, 2 baths over 1500 square feet, subterranean parking with 2 spaces, inside laundry and covered balcony overlooking the beautiful mountains. This home has recently been FULLY RENOVATED and painted throughout, new flooring, new fixtures and all new highly upgraded appliances. All this located in a great area of Pasadena, walking distance to shopping and restaurants on Lake St.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Playhouse District

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $192k856k

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

Neighborhood: Playhouse District

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800300032003400360038004000Rent in $15884133

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$647,910$791,890$719,900

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$2,500
Property Tax -$700
Property Insurance -$65
HOA -$375
Property Management Fees -$155
CASH FLOW
-$625

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.

$719,900

PROJECTED PRICE

$3,170

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.3%
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

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$196,524

INVESTMENT

$196,524

Down Payment
$179,975
Rehab Estimate
$5,750
Closing Costs
$10,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,500

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $179,975
Loan Amount $539,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,308

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,170

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • $3,542

    COMP ESTIMATED VALUE
  • $2.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,1703$3,4254$3,5505$3,600
$3,600
RENT COMPS ANALYSIS
  • 500 S Oak Knoll Avenue Pasadena, CA 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,170
    • $2.04
    •  
  • 121 S Wilson Avenue Pasadena, CA 1
    • 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 1979
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.36
    •  
  • 657 S Marengo Pasadena, CA 3
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1984
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,425
    • $2.12
    •  
  • 525 S Oakland Avenue Pasadena, CA 4
    • 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 1964
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $2.27
    •  
  • 469 S Catalina Pasadena, CA 5
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1973
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.38
    •  
PROPERTY LISTING DETAILS
Ivette Gonzaga
Keller Williams Realty- Yl/ Ah
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21031046
Last Updated: 03/13/2021
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