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1172 E Appleton Street Long Beach, CA 90802

3 Beds 2 Baths 1,239 sqft Built 1916

$775,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1916
  • Price/Sqft : $625.50
  • 6 Days on Market
  • MLS # : PW21022388
  • Updated Date : 02/09/2021 at 21:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,239 sqft
  • Baths : 2 full
Listing Agent

Century 21 Masters

Listing Agent's Description

Welcome home to this beautiful 3-bedroom 2 bath Craftsman in the heart of Long Beach. Beaming with personality and charm the living room features a light airy feeling with its abundance of windows, built-in shelving, and charming beveled ceiling with crown molding. The brightness of the home is complimented well with the darker flooring. Through the beautiful dining room with built-in side bar, you reach the kitchen with a plethora of cabinets, pantry, stainless steel appliances, and breakfast bar. All three bedrooms have good size closets with plenty of storage space and are roomy enough for all the essentials. The primary bedroom has its own huge bathroom with double sink and vanity and gorgeous tile flooring. Head to the backyard for entertaining the deck has all the essentials a built in seating, retractable shade awning, and gazebo. Parking will not be an issue with the one car garage and long driveway and an extra storage shed for your convenience. Just moments from the iconic retro row with the best shopping, extraordinary dining, Long Beach’s downtown and the beach this could easily be called one the best locations in Long Beach. Hurry this enchanting home won’t last!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bixby Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $123k622k

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

Neighborhood: Bixby Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2140016001800200022002400260028003000320034003600Rent in $13733626

* 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
Stevenson Elementary School Primary Regular 738 26 6
Franklin Classical Middle School Middle Regular 1,184 42 5
Polytechnic High School High Magnet 4,464 167 7

Stevenson Elementary School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 26
6
GreatSchools Rating

Franklin Classical Middle School

  • Education Level: Middle
  • # of students: 1,184
  • # of teachers: 42
5
GreatSchools Rating

Polytechnic High School

  • Education Level: High
  • # of students: 4,464
  • # of teachers: 167
7
GreatSchools Rating
 

$697,500$852,500$775,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,692
Property Tax -$817
Property Insurance -$57
Property Management Fees -$151
CASH FLOW
-$637

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.

$775,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,692

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,648

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $2.49

    LIST RENT PER SQFT
  • $2,661

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5003$2,8504$3,0805$3,400
$3,400
RENT COMPS ANALYSIS
  • 1172 E Appleton Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,239 Sqft ∙ Built 1916 3 beds 2 baths ∙ 1,239 Sqft ∙ Built 1916
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $2.49
    •  
  • 827 Olive Avenue Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1912 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1912
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $2.09
    •  
  • 754 Raymond Avenue Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1928
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.90
    •  
  • 127 Orange Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1920 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1920
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.28
    •  
  • 277 Cerritos Avenue Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1907 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1907
    property image
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.32
    •  
PROPERTY LISTING DETAILS
Melinda Elmer
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21022388
Last Updated: 02/09/2021
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