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6422 Glengarry Avenue Whittier, CA 90606

3 Beds 2 Baths 1,632 sqft Built 1942

$700,000

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1942
  • Price/Sqft : $428.92
  • 6 Days on Market
  • MLS # : PW21007475
  • Updated Date : 01/16/2021 at 09:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,632 sqft
  • Baths : 2 full
Listing Agent

Purunjian Inc.

Listing Agent's Description

Welcome to this Original Whittier Beauty! This home features 3 spacious bedrooms and 2 baths plus a detached guest house (mother-in-law quarters) with ¾ bath. Large master bedroom and bath has ample closets and a dual vanity. Additional features include: Tons of natural light throughout, wood burning fireplace in living room, original hardwood floors in great condition, large 8,951 square foot park-like backyard with orange and lemon trees, nice landscape, and perimeter block wall and 2 car detached garage. Great location minutes to freeway and close to Whittier’s finest shops, restaurants, parks, and hiking trails.

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)
  • 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]
  • 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: West Whittier-Los Nietos

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: West Whittier-Los Nietos

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13512941

* 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
West Whittier Elementary School Primary Regular 384 15 6
Katherine Edwards Middle School Middle Regular 732 30 6
Pioneer High School High Regular 1,414 57 6

West Whittier Elementary School

  • Education Level: Primary
  • # of students: 384
  • # of teachers: 15
6
GreatSchools Rating

Katherine Edwards Middle School

  • Education Level: Middle
  • # of students: 732
  • # of teachers: 30
6
GreatSchools Rating

Pioneer High School

  • Education Level: High
  • # of students: 1,414
  • # of teachers: 57
6
GreatSchools Rating
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,431
Property Tax -$760
Property Insurance -$67
Property Management Fees -$145
CASH FLOW
-$452

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.

$700,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 6.3%
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$20k

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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$16,279

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $3,354

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8003$2,8504$2,9505$3,400
$3,400
RENT COMPS ANALYSIS
  • 6422 Glengarry Avenue Whittier, CA 4
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1942
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.81
    •  
  • 11563 Rincon Drive Whittier, CA 1
    • 3 beds 1 baths ∙ 1,427 Sqft ∙ Built 1929 3 beds 1 baths ∙ 1,427 Sqft ∙ Built 1929
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.86
    •  
  • 6413 Milna Avenue Whittier, CA 2
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1949
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.92
    •  
  • 10832 El Rey Drive Whittier, CA 3
    • 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1941
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.19
    •  
  • 7218 Cully Avenue Whittier, CA 5
    • 4 beds 3 baths ∙ 1,514 Sqft ∙ Built 1949 4 beds 3 baths ∙ 1,514 Sqft ∙ Built 1949
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.25
    •  
PROPERTY LISTING DETAILS
Paul Purunjian
Purunjian Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21007475
Last Updated: 01/16/2021
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