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1465 Temple Avenue Long Beach, CA 90804

3 Beds 3 Baths 1,494 sqft Built 1997

$850,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1997
  • Price/Sqft : $568.94
  • 26 Days on Market
  • MLS # : 20646410
  • Updated Date : 11/06/2020 at 15:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,494 sqft
  • Baths : 3 full
Listing Agent

Brian Ross Brandt Branand

Listing Agent's Description

Pleased to exclusively present the opportunity to acquire 1465 Temple Ave. This is a newly renovated, 2-story home with the finest attention to detail throughout. Waterfall counters, floating vanities, & large master bedroom w/ vaulted ceilings & ensuite master bath, w/ floor-to-ceiling tile work & back-lit self-lighting vanity mirrors. Home has a large 2-car garage w/ample gated driveway parking. The property is situated south of Pacific Coast Hwy between Cherry & Redondo Ave, & is well positioned directly adjacent to Orizaba Park, & directly north & w/in walking distance of the Rose Park Historic District. Property is a short drive or bicycle ride of less than 10 mins to the beach, & offers dominant access to numerous entertainment possibilities, which presents a special opportunity for a buyer to capitalize on significant appreciation upside. 3 bedroom 3 baths on record, w/ ability to convert the 2-car garage into a permitted Additional Dwelling Unit (ADU) for intrinsic add-value.

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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: Zaferia

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $130k622k

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

Neighborhood: Zaferia

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2120014001600180020002200240026002800Rent in $11282941

* 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
Lee Elementary School Primary Regular 959 34 5
Jefferson Leadership Academies Middle Regular 1,067 39 5
Wilson High School High Magnet 3,944 146 7

Lee Elementary School

  • Education Level: Primary
  • # of students: 959
  • # of teachers: 34
5
GreatSchools Rating

Jefferson Leadership Academies

  • Education Level: Middle
  • # of students: 1,067
  • # of teachers: 39
5
GreatSchools Rating

Wilson High School

  • Education Level: High
  • # of students: 3,944
  • # of teachers: 146
7
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$3,136
Property Tax -$896
Property Insurance -$63
Property Management Fees -$150
CASH FLOW
-$1,186

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.

$850,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 9.1%
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$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$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$982

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $2.05

    LIST RENT PER SQFT
  • $3,305

    COMP ESTIMATED VALUE
  • $2.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0603$3,1954$3,4005$3,950
$3,950
RENT COMPS ANALYSIS
  • 1465 Temple Avenue Long Beach, CA 2
    • 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $2.05
    •  
  • 2201 Saint Louis Avenue Signal Hill, CA 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1980
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.00
    •  
  • 4749 E 4th Street Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1983
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $2.17
    •  
  • 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 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.31
    •  
  • 1000 E Ocean Boulevard Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2003
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.37
    •  
PROPERTY LISTING DETAILS
Brian Branand
Brian Ross Brandt Branand
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20646410
Last Updated: 11/06/2020
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