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1053 E 45th Way Long Beach, CA 90807

3 Beds 2 Baths 1,794 sqft Built 1951

$899,900

List Price

$3,240

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $501.62
  • 3 Days on Market
  • MLS # : PW20256040
  • Updated Date : 12/11/2020 at 16:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,794 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Socal

Listing Agent's Description

Gorgeous mid century modern home with beautiful swimming pool! This home has too many upgrades to list. Starting with the Dream Kitchen, Quartz countertops with waterfall finish on end caps, Custom modern high-end cabinetry, hansgrohe kitchen faucet, Elkay stainless kitchen sink. Matching Samsung stainless gas stove, fridge, microwave and dishwasher. Zline kitchen hood. GE Monogram wine fridge. The master bathroom has been upgraded and spared no expense. Hansgrohe ecostat shower system, diverter valve and shower head. Koehler water tiles and 15" rainfall shower head. Custom glass shower sliding door. Beautiful soaking tub. Oversized his and hers vanity and Koehler toilet. Air-conditioner is new and furnace was replaced in the last 5 years. There is copper plumbing thru ought. Most of the windows are new Milgard double pane. The sliding door is also a 10ft. Milgard door. There are beautiful oak hardwoods thru ought the entire home, Schlage brush nickel door handles. The pool has been upgraded with mini pebbles and a baja ledge. Pool heater , filter and pump are new. The entire home has a 6 camera system. There is a ring alarm system with two keypads, 2 room motion sensors and sensors on all doors and windows. There is a nest thermostat.

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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: Ridgewood Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $185k636k

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

Neighborhood: Ridgewood Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14492949

* 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
Barton Elementary School Primary Regular 609 25 4
Hughes Middle School Middle Magnet 1,521 51 7
Jordan High School High Regular 3,367 133 2

Barton Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 25
4
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,521
  • # of teachers: 51
7
GreatSchools Rating

Jordan High School

  • Education Level: High
  • # of students: 3,367
  • # of teachers: 133
2
GreatSchools Rating
 

$809,910$989,890$899,900

PURCHASE PRICE

$2,916$3,564$3,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,240
EXPENSES Loan Payment -$3,320
Property Tax -$949
Property Insurance -$70
Property Management Fees -$159
CASH FLOW
-$1,259

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.

$899,900

PROJECTED PRICE

$3,240

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$244,224

INVESTMENT

$244,224

Down Payment
$224,975
Rehab Estimate
$5,750
Closing Costs
$13,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,320

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,975
Loan Amount $674,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,240

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $3,364

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9503$3,2004$3,2405$3,495
$3,495
RENT COMPS ANALYSIS
  • 1053 E 45th Way Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,240
    • $1.81
    •  
  • 138 E Louise Street Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1937
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.89
    •  
  • 4743 Boyar Avenue Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1942
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.97
    •  
  • 2516 Dollar Street Lakewood, CA 3
    • 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1955
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.83
    •  
  • 3960 Brayton Avenue Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1947
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.81
    •  
PROPERTY LISTING DETAILS
Shelly Smith
Keller Williams Socal
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20256040
Last Updated: 12/11/2020
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