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9626 La Alba Drive Whittier, CA 90603

4 Beds 2 Baths 2,105 sqft Built 1957

$1,049,000

List Price

$3,660

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $498.34
  • 14 Days on Market
  • MLS # : PW21048321
  • Updated Date : 03/19/2021 at 06:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,105 sqft
  • Baths : 2 full
Listing Agent

Compass Newport Beach

Listing Agent's Description

Welcome home to 9626 La Alba Drive. Located in Friendly Hills, this single story home consists of 4 bedrooms and 3 bathrooms. Kitchen has granite countertops and stainless steel appliances. Hardwood floors add to the warmth and coziness as you spend time around the fireplace. The gorgeous exterior and landscaping has been meticulously cared for making the front of the house look like a picture from a magazine. In the back of the house there is a large grass area next to the 2 car garage. Plenty of space for a pool and outdoor entertainment area. Side yard has a working vegetable garden. You are walking distance to the brand new Amazon Fresh Market as well as restaurants and other retail stores. LOCATION , LOCATION , LOCATION! This is definitely one you don’t want to miss!!!!

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: 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
Murphy Ranch Elementary School Primary Regular 566 20 9
Granada Middle School Middle Regular 1,087 41 8
La Serna High School High Regular 2,940 100 9

Murphy Ranch Elementary School

  • Education Level: Primary
  • # of students: 566
  • # of teachers: 20
9
GreatSchools Rating

Granada Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 41
8
GreatSchools Rating

La Serna High School

  • Education Level: High
  • # of students: 2,940
  • # of teachers: 100
9
GreatSchools Rating
 

$944,100$1,153,900$1,049,000

PURCHASE PRICE

$3,294$4,026$3,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,660
EXPENSES Loan Payment -$3,644
Property Tax -$1,101
Property Insurance -$78
Property Management Fees -$179
CASH FLOW
-$1,342

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.

$1,049,000

PROJECTED PRICE

$3,660

PROJECTED RENT

0.35%

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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$283,735

INVESTMENT

$283,735

Down Payment
$262,250
Rehab Estimate
$5,750
Closing Costs
$15,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,644

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $262,250
Loan Amount $786,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,660

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $3,657

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0503$3,4004$3,6605$4,200
$4,200
RENT COMPS ANALYSIS
  • 9626 La Alba Drive Whittier, CA 4
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 1957 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $3,660
    • $1.74
    •  
  • 430 Kinley Street La Habra, CA 1
    • 3 beds 1 baths ∙ 1,757 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,757 Sqft ∙ Built 1962
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.71
    •  
  • 10714 Avonbury Avenue Whittier, CA 2
    • 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1953 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1953
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.70
    •  
  • 15208 Cullen Street Whittier, CA 3
    • 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1952
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.82
    •  
  • 9636 La Cima Drive Whittier, CA 5
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1953 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1953
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.72
    •  
PROPERTY LISTING DETAILS
Kimberly Gimbel-johnson
Compass Newport Beach
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21048321
Last Updated: 03/19/2021
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