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8833 Laurel Avenue Whittier, CA 90605

3 Beds 1 Baths 1,287 sqft Built 1950

$649,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $504.27
  • 4 Days on Market
  • MLS # : DW21008999
  • Updated Date : 01/16/2021 at 09:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,287 sqft
  • Baths : 1 full
Listing Agent

Brick & Co Real Estate

Listing Agent's Description

Welcome Home! This remodeled and re-imagined 3 Bedroom, 2 Bath home is light and bright! As you enter, you're greeting by a cheerful front door, welcoming you into this fabulous, open concept home! The property has been remodeled with designer touches throughout with gorgeous hues and an eye for detail. The Kitchen was expanded and completely remodeled with upgraded cabinetry and appliances, as well as lovely countertops. The Master Bedroom is a true master, with an adjacent 3/4 Bath and the best part is the fireplace, to keep you warm and cozy. The Great Room has its very own Fireplace and set up for a Living area and casual Dining. Go down the steps to the enclosed porch and you have a perfect home office, Zoom Classroom or Dining Area. It's your own room to create however you want! Beyond the Great Room are the original bedrooms with a super cute remodeled Bathroom. Central A/C and Heat make this home perfect for any Season! The outside has the best feature RV parking OR parking for up to 4 additional cars, beyond the 2 car Garage. The Backyard goes all around the property, featuring a relaxing patio, with lush greenery. Located steps to the Greenway Trail, this house truly does have it ALL!

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MARKET HIGHLIGHTS

  • 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)
  • 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: 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
Laurel Elementary School Primary Regular 713 26 6
East Whittier Middle School Middle Regular 1,287 45 8
Whittier High School High Regular 2,164 83 6

Laurel Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 26
6
GreatSchools Rating

East Whittier Middle School

  • Education Level: Middle
  • # of students: 1,287
  • # of teachers: 45
8
GreatSchools Rating

Whittier High School

  • Education Level: High
  • # of students: 2,164
  • # of teachers: 83
6
GreatSchools Rating
 

$584,100$713,900$649,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,254
Property Tax -$683
Property Insurance -$58
Property Management Fees -$121
CASH FLOW
-$656

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.

$649,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.38%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,275

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $2,703

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4603$2,5004$2,6005$2,945
$2,945
RENT COMPS ANALYSIS
  • 8833 Laurel Avenue Whittier, CA 2
    • 3 beds 1 baths ∙ 1,287 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,287 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.91
    •  
  • 14102 La Forge Street Whittier, CA 1
    • 3 beds 1 baths ∙ 1,094 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,094 Sqft ∙ Built 1950
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $2.15
    •  
  • 13213 Danbrook Drive Whittier, CA 3
    • 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1940
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.06
    •  
  • 9939 Homage Avenue Whittier, CA 4
    • 3 beds 2 baths ∙ 1,223 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,223 Sqft ∙ Built 1953
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.13
    •  
  • 9103 Bluford Avenue Whittier, CA 5
    • 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
Amy Brick
Brick & Co Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21008999
Last Updated: 01/16/2021
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