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8145 Washington Avenue Whittier, CA 90602

3 Beds 2 Baths 1,600 sqft Built 1928

$725,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1928
  • Price/Sqft : $453.13
  • 7 Days on Market
  • MLS # : AR21015764
  • Updated Date : 02/25/2021 at 08:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Miars, Realtor

Listing Agent's Description

Welcome Home! Beautifully maintained 1928 home located in highly desired neighborhood just south of Historic Whittier DowntowncVillage. PERMITTED addition of master suite. Large yard, with TWO 2 car garages, one face front street, other faces and enters from Alley. RV Pad and sewer hook up! GREAT POTENTIAL make one an ADU or a dream work shop! While COVID restrictions apply, home is easy to see by Appointment with Listing Agent. Minimum 24 hour notice. DO NOT knock on door, don't go on property. Covid restrictions apply. Precautions Strictly Enforced. Call for details. Schedule your private showing today!

SEE MORE

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: Whittier

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

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

Neighborhood: Whittier

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14492941

* 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
Lydia Jackson Elementary School Primary Regular 430 16 5
Walter F. Dexter Middle School Middle Regular 1,097 41 4
Whittier High School High Regular 2,164 83 6

Lydia Jackson Elementary School

  • Education Level: Primary
  • # of students: 430
  • # of teachers: 16
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
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,518
Property Tax -$807
Property Insurance -$66
Property Management Fees -$132
CASH FLOW
-$823

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.

$725,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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

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$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,218

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.69

    LIST RENT PER SQFT
  • $3,248

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7003$2,945
$2,945
RENT COMPS ANALYSIS
  • 8145 Washington Avenue Whittier, CA 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1928
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.69
    •  
  • 6002 Comstock Avenue Whittier, CA 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1920 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1920
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.00
    •  
  • 9103 Bluford Avenue Whittier, CA 3
    • 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1948
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,945
    • $2.06
    •  
PROPERTY LISTING DETAILS
Dennis Miars
Miars, Realtor
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21015764
Last Updated: 02/25/2021
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