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PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $384.75
- 4 Days on Market
- MLS # : PW21148582
- Updated Date : 07/13/2021 at 11:51
CONSTRUCTION
- Beds : 3
- Floor Size : 1,167 sqft
- Baths : 2 full
Listing Agent
Lb Brokerage, Inc
Listing Agent's Description
Immaculate 3 bedroom 2 bath Eastside condo in Villa Del Obispo community. This sparkling, sunny unit has easy access to both stairs and the elevator. Absolutely turnkey! Freshly painted spacious upper corner unit with two balconies and only one common wall and no one above. Vaulted ceilings, beautiful wood laminate flooring in main living area and newer carpet in bedrooms. All bedrooms separated by hallway and/or bath. Inside laundry and washer and dryer included. Well maintained building with low HOA dues and this unit comes with 2 parking spaces in secure community garage. Central heat and AC. Surround sounds speaker, system included. Recessed speakers and lighting throughout this home. Pets will enjoy oversized patios. Extra storage and closets. Dining room opens to living room. Fantastic location, centrally located near shopping, restaurants, Recreation Park tennis courts, golf course and dog park.
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MARKET HIGHLIGHTS
- As part of Southern California area, Los Angeles market inherits all the benefits from the area.
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
- 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 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 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)
- 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: Rose Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rose Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,500 |
| EXPENSES | Loan Payment | -$1,560 |
| Property Tax | -$490 | |
| Property Insurance | -$55 | |
| HOA | -$270 | |
| Property Management Fees | -$123 | |
|
CASH FLOW
$3
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$449,000
PROJECTED PRICE
$2,500
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.35% |
| Appreciation Year (1-5) | 7.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.14% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$124,735
LOAN DETAILS
$1,560
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $112,250 |
| Loan Amount | $336,750 |
6.25
YEARS SAVED
$32,673
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,500
LIST RENT -
$2.14
LIST RENT PER SQFT
-
$2,964
COMP ESTIMATED VALUE -
$2.54
COMP AVG. RENT PER SQFT
Comps Range
-
1121 Obispo Avenue Long Beach, CA 3
- 3 beds 2 baths ∙ 1,167 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,167 Sqft ∙ Built 1991
- Rent
- Rent Per SQFT
- $2,500
- $2.14
-
1865 Stanley Avenue Signal Hill, CA 1
- 3 beds 1 baths ∙ 911 Sqft ∙ Built 1978 3 beds 1 baths ∙ 911 Sqft ∙ Built 1978
LEASED 03/25/20- Rent
- Rent Per SQFT
- $2,450
- $2.69
-
1509 Stanley Avenue Long Beach, CA 2
- 3 beds 2 baths ∙ 960 Sqft ∙ Built 1990 3 beds 2 baths ∙ 960 Sqft ∙ Built 1990
LEASED 12/15/20- Rent
- Rent Per SQFT
- $2,450
- $2.55
-
4647 E 4th Street Long Beach, CA 4
- 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1985
LEASED 06/14/21- Rent
- Rent Per SQFT
- $3,500
- $2.38
PROPERTY LISTING DETAILS
Lb Brokerage, Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21148582
Last Updated: 07/13/2021
