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7101 Norwalk Boulevard Whittier, CA 90606

3 Beds 2 Baths 1,470 sqft Built 1980

$580,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $394.56
  • 4 Days on Market
  • MLS # : TR20230287
  • Updated Date : 11/02/2020 at 15:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,470 sqft
  • Baths : 2 full
Listing Agent

Century 21 Excellence

Listing Agent's Description

The 3 Bedroom, 2 Bathroom, 1,470 Sq Ft Unique Whittier House has main double door entry. As you walk in, to your right is a stained glass dsivider separating the Foyer and Living room with fireplace and ceiling fan. To your right is the Kitchen and Dining Area. A hallway leads you to all the bedrooms. Master bathroom has double sink & Walk-in closet. The Kitchen has a corner sink with window facing the front, it offers ample counter space & cupboards. A glass sliding door access the enclosed patio/sunroom from the dining area. Very spacious laundry room leads to the 2-car garage. This Property sits on a huge 7,552 Sq Ft lot, it has convenient access to Fwy 605 & Fwy 5, Schools, Shopping, Restaurants, Banks, etc. Front wrought iron fencing and gate and a mature Oak Tree provide added privacy and shade. It has a long driveway that can easily fit 4 - 5 cars. There is dual gate access both from Norwalk Blvd and back alley that leads to the attached 2-car garage and additional driveway parking. The backyard has fruit bearing Mature Avocados and Guava trees.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Daniel Phelan Elementary School Primary Regular 490 18 9
Katherine Edwards Middle School Middle Regular 732 30 6
Pioneer High School High Regular 1,414 57 6

Daniel Phelan Elementary School

  • Education Level: Primary
  • # of students: 490
  • # of teachers: 18
9
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
 

$522,000$638,000$580,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,140
Property Tax -$609
Property Insurance -$63
Property Management Fees -$129
CASH FLOW
-$311

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.

$580,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.45%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,450

INVESTMENT

$159,450

Down Payment
$145,000
Rehab Estimate
$5,750
Closing Costs
$8,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $145,000
Loan Amount $435,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$23,411

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.79

    LIST RENT PER SQFT
  • $2,528

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6303$2,850
$2,850
RENT COMPS ANALYSIS
  • 7101 Norwalk Boulevard Whittier, CA 2
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.79
    •  
  • 5061 Cape Tenez Drive Whittier, CA 1
    • 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1975
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.59
    •  
  • 11950 Reichling Lane Whittier, CA 3
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1997
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.85
    •  
PROPERTY LISTING DETAILS
Joy Arcega
Century 21 Excellence
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20230287
Last Updated: 11/02/2020
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