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735 N Holliston Avenue Pasadena, CA 91104

5 Beds 3 Baths 2,120 sqft Built 1906

$1,365,000

List Price

$4,440

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1906
  • Price/Sqft : $643.87
  • 7 Days on Market
  • MLS # : P1-3874
  • Updated Date : 03/23/2021 at 11:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,120 sqft
  • Baths : 3 full
Listing Agent

Sotheby's International Realty, Inc.

Listing Agent's Description

Welcome home to this exceptional 1906 Craftsman bungalow in Pasadena's highly desirable Bungalow Heaven Landmark District. First time on the market in twenty-five years. It's rare to find a Craftsman of this size in Bungalow Heaven, with five bedrooms and three baths. Both the living room and dining room feature architectural details typical of a Craftsman home; crown moldings, boxed-beam ceilings, wainscoting, built-in china cabinetry, bookcases, window benches and French doors. An abundance of large picture windows provide beautiful, natural light. The well-laid out kitchen has plenty of storage, generous granite counter space, equipped with a Viking gas range, and an island counter bar for in-kitchen meals. The floor-plan is perfect for entertaining. Three bedrooms are on the main floor. The front bedroom bath has been recently updated with double vanity, new bath tile and floor tiles. The back bedroom has a private and separate entrance perfect for guests, or additional income. The family room off the kitchen has French doors that open to a large patio surrounded by fruit trees. The second story has two bedrooms and one bath, just awaiting your vision. The lot is expansive at almost 12,000 square feet with ample room for RV parking along side the two-car garage. Additionally one could explore the notion of an ADU as there's ample space. This could be your dream come true.

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: Bungalow Heaven

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k926k

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

Neighborhood: Bungalow Heaven

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Longfellow Elementary School Primary Regular 512 20 5
Charles W. Eliot Arts Magnet Academy Middle Regular 504 27 2
Pasadena High School High Regular 1,903 84 6

Longfellow Elementary School

  • Education Level: Primary
  • # of students: 512
  • # of teachers: 20
5
GreatSchools Rating

Charles W. Eliot Arts Magnet Academy

  • Education Level: Middle
  • # of students: 504
  • # of teachers: 27
2
GreatSchools Rating

Pasadena High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 84
6
GreatSchools Rating
 

$1,228,500$1,501,500$1,365,000

PURCHASE PRICE

$3,996$4,884$4,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,440
EXPENSES Loan Payment -$4,741
Property Tax -$1,327
Property Insurance -$78
Property Management Fees -$218
CASH FLOW
-$1,923

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.

$1,365,000

PROJECTED PRICE

$4,440

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.1%
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$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$367,475

INVESTMENT

$367,475

Down Payment
$341,250
Rehab Estimate
$5,750
Closing Costs
$20,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,741

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $341,250
Loan Amount $1,023,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$426

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,440

    LIST RENT
  • $2.09

    LIST RENT PER SQFT
  • $4,113

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,1003$4,4404$4,500
$4,500
RENT COMPS ANALYSIS
  • 735 N Holliston Avenue Pasadena, CA 3
    • 5 beds 3 baths ∙ 2,120 Sqft ∙ Built 1906 5 beds 3 baths ∙ 2,120 Sqft ∙ Built 1906
    • Rent
    • Rent Per SQFT
    •  
    • $4,440
    • $2.09
    •  
  • 1937 Monte Vista Street Pasadena, CA 1
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1922 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 1922
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.88
    •  
  • 1224 Wesley Avenue Pasadena, CA 2
    • 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1925 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1925
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.06
    •  
  • 549 E Elizabeth Street Pasadena, CA 4
    • 5 beds 3 baths ∙ 2,398 Sqft ∙ Built 1924 5 beds 3 baths ∙ 2,398 Sqft ∙ Built 1924
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.88
    •  
PROPERTY LISTING DETAILS
Roxanne Treloar
Sotheby's International Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-3874
Last Updated: 03/23/2021
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