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855 N Mar Vista Avenue Pasadena, CA 91104

3 Beds 2 Baths 1,178 sqft Built 1915

$799,900

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1915
  • Price/Sqft : $679.03
  • 7 Days on Market
  • MLS # : IV21009643
  • Updated Date : 01/22/2021 at 10:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,178 sqft
  • Baths : 2 full
Listing Agent

Re/max Time Realty

Listing Agent's Description

Please enjoy the beauty of peaceful gardens. located in National Register of Historic Place Bungalow Heaven. Bring your imagination to convert this Gem in a elegant combination of early 20th Century architecture with todays modern style. You can walk in the neighborhood and delight unique architectural details and the wide use of natural and native materials of Craftsman homes. This unique 3 bedrooms and 2 bathroom is first time on the market in 34 years. Potential garage transformation into an accessory dwelling unit (ADU) for your guests.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

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
 

$719,910$879,890$799,900

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,778
Property Tax -$777
Property Insurance -$56
Property Management Fees -$147
CASH FLOW
-$758

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.

$799,900

PROJECTED PRICE

$3,000

PROJECTED RENT

0.38%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,724

INVESTMENT

$217,724

Down Payment
$199,975
Rehab Estimate
$5,750
Closing Costs
$11,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,975
Loan Amount $599,925
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$7,020

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $2.55

    LIST RENT PER SQFT
  • $3,207

    COMP ESTIMATED VALUE
  • $2.72

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1003$3,8004$3,9505$4,000
$4,000
RENT COMPS ANALYSIS
  • 855 N Mar Vista Avenue Pasadena, CA 1
    • 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1915 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1915
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.55
    •  
  • 1515 N Oxford Avenue Pasadena, CA 2
    • 3 beds 1 baths ∙ 1,142 Sqft ∙ Built 1919 3 beds 1 baths ∙ 1,142 Sqft ∙ Built 1919
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.71
    •  
  • 1110 N Wilson Avenue Pasadena, CA 3
    • 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1921 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1921
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.69
    •  
  • 1393 N Mentor Avenue Pasadena, CA 4
    • 3 beds 1 baths ∙ 1,440 Sqft ∙ Built 1924 3 beds 1 baths ∙ 1,440 Sqft ∙ Built 1924
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.74
    •  
  • 1747 Oakwood Street Pasadena, CA 5
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1925
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.75
    •  
PROPERTY LISTING DETAILS
Mauricio Sanchez
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21009643
Last Updated: 01/22/2021
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