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

6083 Oakgate Row La Jolla, CA 92037

3 Beds 3 Baths 2,518 sqft Built 1998

INVESTimate

$1,410,000

List Price

$4,950

$4,700 - $5,200

Rent Est.

$1,483,602  ( +5.22%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $559.97
  • 2 Days on Market
  • MLS # : 200041196
  • Updated Date : 08/26/2020 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,518 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Remarkable newly renovated dream home! Enjoy the perfect balance of elegance and simplicity at its best. Spacious 3bedrooms, 2.5 bathrooms, plus a loft area. Huge master bedroom with balcony and large walk-in closet. Modern kitchenwith custom cabinets, quartz counters, and high-end SS appliances, including a commercial range. All new high-gradevinyl flooring throughout. New wiring, lighting, and HVAC (including CAC). Fully-fenced, private backyard with patio!

SEE MORE

MARKET HIGHLIGHTS

  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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 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)
  • As part of Southern California area, San Diego 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]

PRICE & RENT TRENDS

Neighborhood: Soledad South

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $240k1432k

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

Neighborhood: Soledad South

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500500055006000Rent in $16276370

* 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
La Jolla Elementary School Primary Regular 595 25 10
Muirlands Middle School Middle Regular 1,033 41 9
La Jolla High School High Regular 1,588 59 9

La Jolla Elementary School

  • Education Level: Primary
  • # of students: 595
  • # of teachers: 25
10
GreatSchools Rating

Muirlands Middle School

  • Education Level: Middle
  • # of students: 1,033
  • # of teachers: 41
9
GreatSchools Rating

La Jolla High School

  • Education Level: High
  • # of students: 1,588
  • # of teachers: 59
9
GreatSchools Rating
 

$1,269,000$1,551,000$1,410,000

PURCHASE PRICE

$4,455$5,445$4,950

RENT

DOWN PAYMENT
FINANCING

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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$20k

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$4.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,950
EXPENSES Loan Payment -$5,202
Property Tax -$1,364
Property Insurance -$91
HOA -$330
Property Management Fees -$129
CASH FLOW
-$2,165

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.

$1,410,000

PROJECTED PRICE

$4,950

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.22%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$379,400

INVESTMENT

$379,400

Down Payment
$352,500
Rehab Estimate
$5,750
Closing Costs
$21,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,202

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $352,500
Loan Amount $1,057,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$491

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $5,330

    COMP ESTIMATED VALUE
  • $2.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$5,4003$5,5004$5,700
$5,700
RENT COMPS ANALYSIS
  • 6083 Oakgate Row La Jolla, 1
    • 3 beds 3 baths ∙ 2,518 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,518 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6063 Oakgate Row La Jolla, 2
    • 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 1998
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,400
    • $2.16
    •  
  • 2305 Falkirk Row La Jolla, 3
    • 4 beds 4 baths ∙ 2,554 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,554 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $2.15
    •  
  • 6033 Oakgate Row La Jolla, 4
    • 3 beds 3 baths ∙ 2,800 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,800 Sqft ∙ Built 1998
    LEASED 05/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,700
    • $2.04
    •  
PROPERTY LISTING DETAILS
Peter Middleton
1.858.258.7383
Exp Realty Of California Inc
BESbswy