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6825 Wheeler Avenue La Verne, CA 91750

4 Beds 2 Baths 1,759 sqft Built 1971

$799,000

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1971
  • Price/Sqft : $454.24
  • 18 Days on Market
  • MLS # : CV20223660
  • Updated Date : 11/07/2020 at 05:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,759 sqft
  • Baths : 2 full
Listing Agent

Lisa Capone Realty

Listing Agent's Description

Welcome to this lovely 4 bedroom 2 bath single story home situated in North Laverne . Entering you will find a spacious floor plan. Some of the many upgrades include new windows throughout home, copper plumbing including upgraded 1 inch pipe to street, new GAF Timberline Cool roof , 16 SEER Central Air-conditioning unit /HVAC Forced air Heating unit , and Aprilaire Model 5000 Electronic air-cleaner. Kitchen has Corian countertop and lots of cabinets. Gas fireplace in family room. One bedroom currently being used as an office. Master bedroom has walk-in closet, dressing area, and exterior door with two opening side lights out to backyard. Laundry room centrally located. Back yard features patio roof, rock garden, fruit trees include Avocado, Navel Orange, 2 Pear , Santa Rosa Plum, Fuji Apple, Apricot, Fig, and 2 Blueberry Bushes. 3 car detached garage with alley access and room for RV , boat or toys. Close to schools and shops.

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: North la Verne Hillside

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $199k1098k

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

Neighborhood: North la Verne Hillside

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $16244432

* 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
Oak Mesa Elementary School Primary Regular 585 23 10
Ramona Middle School Middle Regular 1,406 51 9
Bonita High School High Regular 1,968 74 9

Oak Mesa Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 23
10
GreatSchools Rating

Ramona Middle School

  • Education Level: Middle
  • # of students: 1,406
  • # of teachers: 51
9
GreatSchools Rating

Bonita High School

  • Education Level: High
  • # of students: 1,968
  • # of teachers: 74
9
GreatSchools Rating
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$2,948
Property Tax -$794
Property Insurance -$70
Property Management Fees -$138
CASH FLOW
-$1,139

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.

$799,000

PROJECTED PRICE

$2,810

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 4.5%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $2,797

    COMP ESTIMATED VALUE
  • $1.59

    COMP AVG. RENT PER SQFT
Comps Range
$2,810
1$2,8102$2,9003$3,1004$3,1005$3,100
$3,100
RENT COMPS ANALYSIS
  • 6825 Wheeler Avenue La Verne, CA 1
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $1.60
    •  
  • 1860 Olivewood Street La Verne, CA 2
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1975
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.64
    •  
  • 2432 Hummingbird Way La Verne, CA 3
    • 4 beds 3 baths ∙ 1,949 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,949 Sqft ∙ Built 1989
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.59
    •  
  • 6043 Birdie Drive La Verne, CA 4
    • 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1986
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.59
    •  
  • 2316 Trickling Creek Drive La Verne, CA 5
    • 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 1987
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.54
    •  
PROPERTY LISTING DETAILS
Lisa Capone
Lisa Capone Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20223660
Last Updated: 11/07/2020
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