Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

135 E Eldridge Street Long Beach, CA 90807

3 Beds 2 Baths 1,463 sqft Built 1978

$629,900

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $430.55
  • 2 Days on Market
  • MLS # : SR20229765
  • Updated Date : 11/02/2020 at 17:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,463 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

Fantastic! opportunity to own a wonderful home with tons of potential By the Coast. This charming 3 bedrooms 2 bath home features 2 levels within a spacious 1,460+ sqft floorplan. The ground level offers a large living area that leads to an even bigger kitchen & dining area, Features include a retro dinner style counter seating area, a beautiful corner bar perfect for entertaining guest. The large windows throughout provide abundant natural light for the entire home. The back yard is completely paved and the covered patio is great for larger celebrations and get-togethers. The detached garage is ideal for an ADU conversion if needed with its own back street access and plenty of parking in the front of the home. This one Won't last call and set up your appointment today!

SEE MORE

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: Vista del Mar

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650kPrice in $186k676k

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

Neighborhood: Vista del Mar

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14492973

* 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
Birney Elementary School Primary Regular 686 27 6
Hughes Middle School Middle Magnet 1,521 51 7
Polytechnic High School High Magnet 4,464 167 7

Birney Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 27
6
GreatSchools Rating

Hughes Middle School

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

Polytechnic High School

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

$566,910$692,890$629,900

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$2,324
Property Tax -$687
Property Insurance -$62
Property Management Fees -$135
CASH FLOW
-$449

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.

$629,900

PROJECTED PRICE

$2,760

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.3%
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$172,674

INVESTMENT

$172,674

Down Payment
$157,475
Rehab Estimate
$5,750
Closing Costs
$9,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,475
Loan Amount $472,425
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$16,738

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $2,794

    COMP ESTIMATED VALUE
  • $1.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,760
1$2,7602$2,8953$2,900
$2,900
RENT COMPS ANALYSIS
  • 135 E Eldridge Street Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $1.89
    •  
  • 3526 Countryside Lane Long Beach, CA 2
    • 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1987
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.82
    •  
  • 2201 Saint Louis Avenue Signal Hill, CA 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1980
    property image
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.00
    •  
PROPERTY LISTING DETAILS
Amador Contreras Mendoza
Keller Williams Central
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20229765
Last Updated: 11/02/2020
BESbswy