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15442 Columbia Lane Huntington Beach, CA 92647

4 Beds 4 Baths 2,112 sqft Built 1962

$999,500

List Price

$3,870

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $473.25
  • 9 Days on Market
  • MLS # : OC21135304
  • Updated Date : 07/12/2021 at 09:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,112 sqft
  • Baths : 4 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Rare Find! 2,112 Square Foot Sprawling SINGLE STORY Beautifully Remodeled and All Upgraded 4 Bedroom, 4 Bath (2 Bedrooms are Ensuites) Stardust Home on a Cul-de-Sac Street in Great Neighborhood with Award-Winning Schools! It Features Newer Roof with 20-Year Transferable Warranty, Central A/C, Designer Paint, Extensive Crown Molding Throughout, Dual Pane Windows, Custom 2-Inch Blinds, LED Recessed Lighting, Raised Panel Interior Doors, Waterproof Wood Laminate & Tile Flooring, Whole House Water Purification System. This One-of-A-Kind Beauty Includes: a Large Formal Living Room Addition with Cathedral Open-Beam Ceiling and a Brick Fireplace (Gas & Wood-Burning) with Raised Sitting Hearth, a Gorgeous Completely Remodeled Gourmet Kitchen that Boasts Huge Center Island with Seating, Quartz Countertops, Glass Mosaic Tile Backsplash, Newer Stainless Appliances (5 Burner Gas Cooktop, Double Ovens, & Dishwasher), and Custom Dark Wood Soft-Close Cabinetry & Drawers. The Kitchen is Open to Giant Dining Room - Great Flow for Entertaining! Around the Corner is a Very Spacious Separate Family Room, which was also an Addition to Home. The Master Suite has an Expanded Bathroom with Huge Walk-In Shower. All Bathrooms are Upgraded with Designer Tile and Beautiful Fixtures. This Amazing Home also Includes a Large Inside Laundry Room, a 2 Car Garage that has been Converted to a Giant Game Room / Bonus Room with Wood Laminate Flooring, Finished Walls, Smooth Ceiling, & Lighting (Can be Converted Back to Garage), A Gated Private Courtyard Front Patio Entry, and a Wrap-Around Backyard with Raised Planters and Another Patio Area for Evening BBQ's and Entertaining. It is Close to Bella Terra Mall, Westminster Mall, Shopping, Restaurants, and Top Schools. It is also Close to the Beach and the 405 & 22 Freeways. Homes Like this One Don't Come on the Market Very Often. This is a "Must See!"

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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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)
  • 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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: Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k844k

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

Neighborhood: Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21800200022002400260028003000320034003600Rent in $17803620

* 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
Helen Stacey Middle School Middle Regular 907 39 8
Marina High School High Regular 2,438 93 9

Helen Stacey Middle School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 39
8
GreatSchools Rating

Marina High School

  • Education Level: High
  • # of students: 2,438
  • # of teachers: 93
9
GreatSchools Rating
 

$899,550$1,099,450$999,500

PURCHASE PRICE

$3,483$4,257$3,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,870
EXPENSES Loan Payment -$3,472
Property Tax -$1,030
Property Insurance -$78
Property Management Fees -$190
CASH FLOW
-$899

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.

$999,500

PROJECTED PRICE

$3,870

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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-$15k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,618

INVESTMENT

$270,618

Down Payment
$249,875
Rehab Estimate
$5,750
Closing Costs
$14,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,472

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,875
Loan Amount $749,625
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$8,314

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,870

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $3,923

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,8003$3,8704$4,2005$4,200
$4,200
RENT COMPS ANALYSIS
  • 15442 Columbia Lane Huntington Beach, CA 3
    • 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,870
    • $1.83
    •  
  • 15921 Carrie Lane Huntington Beach, CA 1
    • 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 1962
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.80
    •  
  • 15561 Whiteoak Lane Huntington Beach, CA 2
    • 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 1972
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.95
    •  
  • 6162 Montecito Drive Huntington Beach, CA 4
    • 4 beds 3 baths ∙ 2,193 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,193 Sqft ∙ Built 1965
    LEASED 03/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.92
    •  
  • 6962 Cumberland Drive Huntington Beach, CA 5
    • 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 1962
    LEASED 06/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.76
    •  
PROPERTY LISTING DETAILS
Lily Campbell
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21135304
Last Updated: 07/12/2021
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