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836 S Lolita Street West Covina, CA 91791

3 Beds 2 Baths 1,788 sqft Built 1955

$760,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $425.06
  • 2 Days on Market
  • MLS # : PW21057415
  • Updated Date : 03/20/2021 at 05:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,788 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Alliance

Listing Agent's Description

*****Beautiful Single Story CALIFORNIA RANCH STYLE HOME***** Located In One Of West Covina's Most Highly Desirable Neighborhood********. Pride Of Ownership Is Apparent As You Drive Up to This Home. Fall In Love With This 3 Bedroom 2 Bathroom Single Story Home. Master Has A Private Bathroom And Lots Of Windows Which Bring In The Natural Light. All Bedrooms Have Lots Of Closet Space, Ceiling Fans And Storage. The Kitchen Has Built In Oven, Electric Cooktop, Dishwasher, Eat-In Area and Tile Counter Tops. Off The Kitchen is A Large Family Room With Wood Beams, Fireplace, Seating Area And Dry Bar. It Is Perfect For Family Gaming Nights Or Movies. Indoor Laundry Room Off The Family Room With Utility Sink. The Home Reflects The Era In Which It Was Built. It This Very Clean Home Has Lots Of Built In Storage Cabinets And Has Been Well Maintained. It Is Just Waiting For Your Personal Decorating Touches To Make It Your Home! Gas Fireplace in Livingroom/Dining Room With Sliding Glass Doors That Lead Off To The Most Serene Well Manicured Yard. Sit on the Patio With A Glass Of Wine And Take In All The Serenity. Patio For Summer Nights, Nice Breeze Way With Detached Two Car Garage And Room For An R.V. Plenty Parking Space. Manicured Landscaping In Front And Back Yard. Central Air and Heat. Roof Is Concrete Tile. Great For Entertaining. Back Yard With Block Walls. Close To South Hills Golf Course. Will Not Last.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Azusa-Cameron

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $184k856k

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

Neighborhood: Azusa-Cameron

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15053697

* 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
Vine Elementary School Primary Regular 549 24 7
Hollencrest Middle School Middle Regular 774 30 7
Edgewood High School High Regular 831 33 7

Vine Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 24
7
GreatSchools Rating

Hollencrest Middle School

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 30
7
GreatSchools Rating

Edgewood High School

  • Education Level: High
  • # of students: 831
  • # of teachers: 33
7
GreatSchools Rating
 

$684,000$836,000$760,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,640
Property Tax -$769
Property Insurance -$70
Property Management Fees -$134
CASH FLOW
-$883

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.

$760,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.36%

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

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$207,150

INVESTMENT

$207,150

Down Payment
$190,000
Rehab Estimate
$5,750
Closing Costs
$11,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,640

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $190,000
Loan Amount $570,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,905

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $2,910

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,7303$2,8004$2,9505$2,975
$2,975
RENT COMPS ANALYSIS
  • 836 S Lolita Street West Covina, CA 2
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $1.53
    •  
  • 2148 Cameron Avenue E West Covina, CA 1
    • 3 beds 1 baths ∙ 1,609 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,609 Sqft ∙ Built 1963
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.58
    •  
  • 1422 E Herring Avenue West Covina, CA 3
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 1955
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.69
    •  
  • 904 S Hollenbeck Street West Covina, CA 4
    • 4 beds 2 baths ∙ 1,757 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,757 Sqft ∙ Built 1955
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.68
    •  
  • 921 S Fircroft Street West Covina, CA 5
    • 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1955
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $1.56
    •  
PROPERTY LISTING DETAILS
Michelle Ramirez
Coldwell Banker Alliance
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21057415
Last Updated: 03/20/2021
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