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601 Lanny Avenue La Puente, CA 91744

5 Beds 3 Baths 2,188 sqft Built 1983

$948,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $433.27
  • 15 Days on Market
  • MLS # : WS21025899
  • Updated Date : 02/18/2021 at 09:55
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,188 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Signature Rlty

Listing Agent's Description

Breath taking VIEWS! Amazing opportunity to own a very private, executive level home. This home is custom built, designed with entertaining in mind and sitting on a huge 20,559 SQFT park-like lot with plenty of room to move and play. It has an impressive long driveway up to your home. It can easily park 8 cars. Yet it's very secluded for its location. From the surrounding deck, beautiful 180 degree views towards DTLA and the San Gabriel Mountains, this home makes you feel like you are on top of the world. Mature fruit trees, palm trees, and overall well cared for landscaping adorn this estate. Strategically placed trees highlight views, proving an enclose feel with wonderful breezes for those summer evenings entertaining. This home has 5 bedrooms with 3 baths, easily accommodating large families or the possibility of dividing home for extra privacy. As you enter, you are greeting by the expansive high ceilings and skylights. Plenty of windows providing lots of natural sunlight, highlighting views from inside. The fireplace in the living room provides a stunning setting for those chilly evenings, as you look out towards the the city twinkled views. The kitchen has oak cabinets and ceramic tile floors. Laminate flooring throughout the home. Home is centrally located and accessible to the 10, 60, 605, and 57 freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: La Puente

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $141k622k

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

Neighborhood: La Puente

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13152941

* 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
Sierra Vista Middle School Middle Regular 310 15 3
William Workman High School High Regular 1,165 50 5

Sierra Vista Middle School

  • Education Level: Middle
  • # of students: 310
  • # of teachers: 15
3
GreatSchools Rating

William Workman High School

  • Education Level: High
  • # of students: 1,165
  • # of teachers: 50
5
GreatSchools Rating
 

$853,200$1,042,800$948,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$3,293
Property Tax -$1,020
Property Insurance -$80
Property Management Fees -$152
CASH FLOW
-$1,444

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.

$948,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.5%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$256,970

INVESTMENT

$256,970

Down Payment
$237,000
Rehab Estimate
$5,750
Closing Costs
$14,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,293

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,000
Loan Amount $711,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$98

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $3,559

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$3,1004$3,500
$3,500
RENT COMPS ANALYSIS
  • 601 Lanny Avenue La Puente, CA 3
    • 5 beds 3 baths ∙ 2,188 Sqft ∙ Built 1983 5 beds 3 baths ∙ 2,188 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.42
    •  
  • 16329 E Cherry Blossom Lane La Puente, CA 1
    • 5 beds 3 baths ∙ 1,849 Sqft ∙ Built 2001 5 beds 3 baths ∙ 1,849 Sqft ∙ Built 2001
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.51
    •  
  • 1461 Stardust Drive West Covina, CA 2
    • 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 1996
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.58
    •  
  • 1500 E Jones Court West Covina, CA 4
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1979
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.79
    •  
PROPERTY LISTING DETAILS
Christine Cheng
Keller Williams Signature Rlty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21025899
Last Updated: 02/18/2021
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