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6741 Hillside Lane Whittier, CA 90602

3 Beds 1 Baths 1,994 sqft Built 1931

$749,999

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1931
  • Price/Sqft : $376.13
  • 15 Days on Market
  • MLS # : PW21030917
  • Updated Date : 02/26/2021 at 17:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,994 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Rlty Whittier

Listing Agent's Description

THERE ARE CURRENTLY NO APPOINTMENTS AVAILABLE, ALL SHOWING TIMES HAVE BEEN BOOKED. Spanish colonial revival in the College Hills Historic District. 3 bedroom with 1 3/4 bath with original dark wood floors, beautiful archways and beamed ceiling in great room. City views from balcony off greatroom, even Disneyland fireworks. This house no longer has the original boiler so some of the rooms are equipped with heat/airconditioning units. Appliances are included with the purchase. Needs some TLC but what a buy in a fabulous neighborhood above prestigious Whittier College. Tax rolls have this home as a 2 bedroom, 1 bath and 1330 square feet. It was appraised at 3 bedroom, 1 3/4 bath and 1994 square feet. This home is being sold "as is". No termite or repairs will be done.

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MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (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)
  • 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 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 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)
  • 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]
  • 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: College Hills Historic District

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $178k856k

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

Neighborhood: College Hills Historic District

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $14493697

* 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
Lou Henry Hoover Elementary School Primary Regular 485 17 5
Walter F. Dexter Middle School Middle Regular 1,097 41 4
Whittier High School High Regular 2,164 83 6

Lou Henry Hoover Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 17
5
GreatSchools Rating

Walter F. Dexter Middle School

  • Education Level: Middle
  • # of students: 1,097
  • # of teachers: 41
4
GreatSchools Rating

Whittier High School

  • Education Level: High
  • # of students: 2,164
  • # of teachers: 83
6
GreatSchools Rating
 

$674,999$824,999$749,999

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,605
Property Tax -$813
Property Insurance -$75
Property Management Fees -$143
CASH FLOW
-$726

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.

$749,999

PROJECTED PRICE

$2,910

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.5%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,499
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $3,609

    COMP ESTIMATED VALUE
  • $1.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9103$3,6004$4,000
$4,000
RENT COMPS ANALYSIS
  • 6741 Hillside Lane Whittier, CA 2
    • 3 beds 1 baths ∙ 1,994 Sqft ∙ Built 1931 3 beds 1 baths ∙ 1,994 Sqft ∙ Built 1931
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $1.46
    •  
  • 8954 Gunn Avenue Whittier, CA 1
    • 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 1950
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.54
    •  
  • 6003 Hoover Avenue Whittier, CA 3
    • 3 beds 2 baths ∙ 2,026 Sqft ∙ Built 1931 3 beds 2 baths ∙ 2,026 Sqft ∙ Built 1931
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.78
    •  
  • 14254 Eastridge Drive Whittier, CA 4
    • 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 1950
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.11
    •  
PROPERTY LISTING DETAILS
Cher Mcconnell
Keller Williams Rlty Whittier
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21030917
Last Updated: 02/26/2021
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