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143 E 52nd Street Long Beach, CA 90805

3 Beds 2 Baths 1,001 sqft Built 1929

$570,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1929
  • Price/Sqft : $569.43
  • 4 Days on Market
  • MLS # : TR20233501
  • Updated Date : 11/06/2020 at 19:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,001 sqft
  • Baths : 2 full
Listing Agent

Mcleod & Associates

Listing Agent's Description

Beautiful TURN-KEY & UPGRADED home in the heart of North Long Beach. Situated on a large 4,802 square foot lot, this beautiful spanish bungalow has enormous charm & curb appeal. Completely remodeled from top to bottom back in 2015 including its roof, two-car garage, HVAC with all ducting replaced as well as all of its windows & doors. Plus smart home features throughout. Also previously renovated kitchen offers real wood shaker cabinetry with soft closing drawers & adorned with granite countertops. Upgraded appliances include stainless Whirlpool oven/range, microwave hood, & dishwasher. The adjacent formal dining room features a stunning glass jar designer chandelier. Farmhouse-style wood laminate flooring, recessed lighting, & neutral designer paint colors throughout. The expansive backyard is ready for an added pool but for now a spacious grass-laid backyard make this home ideal for entertaining. Mature trees & sidewalks line this quiet street. Fantastic neighborhood & walking distance to Addams Elementary. Conveniently located close to both the 710 & 91 fwys while just north of Bixby Knolls for great shopping, eateries & entertainment. If you've been looking for just the right one-story home, look no more; charming & fully upgraded, this 3-bed, 2-bath property is waiting for you. Welcome to 143 East 52nd Street.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Addams

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $126k622k

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

Neighborhood: Addams

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $10602941

* 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
Addams Elementary School Primary Regular 945 36 5
Lindsey Academy Middle Magnet 860 31 3
Jordan High School High Regular 3,367 133 2

Addams Elementary School

  • Education Level: Primary
  • # of students: 945
  • # of teachers: 36
5
GreatSchools Rating

Lindsey Academy

  • Education Level: Middle
  • # of students: 860
  • # of teachers: 31
3
GreatSchools Rating

Jordan High School

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

$513,000$627,000$570,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$2,103
Property Tax -$618
Property Insurance -$51
Property Management Fees -$113
CASH FLOW
-$584

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.

$570,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,500
Loan Amount $427,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,414

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $2.37

    LIST RENT PER SQFT
  • $2,277

    COMP ESTIMATED VALUE
  • $2.35

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3953$2,5004$2,6505$2,795
$2,795
RENT COMPS ANALYSIS
  • 143 E 52nd Street Long Beach, CA 1
    • 3 beds 2 baths ∙ 969 Sqft ∙ Built 1929 3 beds 2 baths ∙ 969 Sqft ∙ Built 1929
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.37
    •  
  • 215 E Scott Street Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $2.34
    •  
  • 5480 Lime Avenue Long Beach, CA 3
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.31
    •  
  • 4417 Boyar Avenue Long Beach, CA 4
    • 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1944
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.45
    •  
  • 2749 E Jackson Street Carson, CA 5
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1937
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.30
    •  
PROPERTY LISTING DETAILS
Mia Mcleod
Mcleod & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20233501
Last Updated: 11/06/2020
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