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8536 Cliffridge La Jolla, CA 92037

4 Beds 3 Baths 3,615 sqft Built 1972

$1,895,000

List Price

$7,040

$6.8K - $7.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $524.20
  • 5 Days on Market
  • MLS # : 200050324
  • Updated Date : 11/02/2020 at 21:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,615 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Location, Location! Location! This 3615 square foot two story home with four bedrooms, three full baths a huge media room (27x18) in addition to a large family room is ideally located in north La Jolla, close to UCSD, the Y and Torrey Pines Elementary School. Bring your decorator's touch and make this home in more or less original condition with the exception of a remodeled kitchen, replacement windows and roof a show place. There is a large level back yard which could easily accommodate

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MARKET HIGHLIGHTS

  • As part of Southern California area, San Diego market inherits all the benefits from the area.
  • 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]
  • 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'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 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: La Jolla Heights

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400k1500kPrice in $240k1583k

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

Neighborhood: La Jolla Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500500055006000Rent in $16276370

* 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
Torrey Pines Elementary School Primary Regular 550 21 10
Muirlands Middle School Middle Regular 1,033 41 9
La Jolla High School High Regular 1,588 59 9

Torrey Pines Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 21
10
GreatSchools Rating

Muirlands Middle School

  • Education Level: Middle
  • # of students: 1,033
  • # of teachers: 41
9
GreatSchools Rating

La Jolla High School

  • Education Level: High
  • # of students: 1,588
  • # of teachers: 59
9
GreatSchools Rating
 

$1,705,500$2,084,500$1,895,000

PURCHASE PRICE

$6,336$7,744$7,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $7,040
EXPENSES Loan Payment -$6,992
Property Tax -$1,825
Property Insurance -$118
Property Management Fees -$129
CASH FLOW
-$2,024

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.

$1,895,000

PROJECTED PRICE

$7,040

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.65%
Appreciation Year (1-5) 3.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.45%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k$0.0$20k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$507,925

INVESTMENT

$507,925

Down Payment
$473,750
Rehab Estimate
$5,750
Closing Costs
$28,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$6,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $473,750
Loan Amount $1,421,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$24,721

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $7,284

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$6,7003$7,000
$7,000
RENT COMPS ANALYSIS
  • 8536 Cliffridge La Jolla, CA 1
    • 4 beds 3 baths ∙ 3,615 Sqft ∙ Built 1972 4 beds 3 baths ∙ 3,615 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8505 Nottingham Place La Jolla, CA 2
    • 5 beds 4 baths ∙ 3,400 Sqft ∙ Built 1969 5 beds 4 baths ∙ 3,400 Sqft ∙ Built 1969
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,700
    • $1.97
    •  
  • 8215 Prestwick Dr La Jolla, CA 3
    • 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 1973 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 1973
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,000
    • $2.06
    •  
PROPERTY LISTING DETAILS
Eric Chodorow
1.858.456.6850
Berkshire Hathaway Homeservice
BESbswy