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160 Roycroft Avenue Long Beach, CA 90803

3 Beds 2 Baths 1,594 sqft Built 1930

$1,199,000

List Price

$4,070

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1930
  • Price/Sqft : $752.20
  • 5 Days on Market
  • MLS # : OC21003018
  • Updated Date : 01/06/2021 at 17:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,594 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

This highly upgraded 3 bed 2 bath single level Spanish home situated on an oversized lot exudes quality & craftsmanship throughout an amazing open floorplan accented by wonderful architectural details at every turn. Soaring vaulted ceilings & beautiful wide plank wood flooring encompass a stunning Great Room centered around a sublime gourmet kitchen featuring custom cabinetry, gorgeous granite counters with dazzling tile backsplash & professional grade stainless steel appliances. A sitting room with handsome focal point fireplace offers endless possibilities as a family room, den, office or simply an extension of this extraordinary space adjacent to two spacious bedrooms with mirrored closet doors and a stylish full bath. The private master retreat offers a walk-in closet and en suite bath with separate shower & soaking tub highlighted by impressive travertine & marble tilework. Enjoy year round entertaining on the hardscaped front patio just a short distance to picturesque Alamitos Bay, the Pacific Ocean & unique shopping & dining on trendy 2nd St. in the heart of Belmont Shore. Other amenities include central heat & AC, newer dual pane windows, fresh exterior paint & a fabulous finished garage with tons of room for storage. Be sure to check out the VIRTUAL TOUR!

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: Belmont Shore

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200kPrice in $186k1241k

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

Neighborhood: Belmont Shore

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200340036003800Rent in $14493932

* 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
Lowell Elementary School Primary Regular 751 27 9
Rogers Middle School Middle Regular 890 30 8
Wilson High School High Magnet 3,944 146 7

Lowell Elementary School

  • Education Level: Primary
  • # of students: 751
  • # of teachers: 27
9
GreatSchools Rating

Rogers Middle School

  • Education Level: Middle
  • # of students: 890
  • # of teachers: 30
8
GreatSchools Rating

Wilson High School

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

$1,079,100$1,318,900$1,199,000

PURCHASE PRICE

$3,663$4,477$4,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,070
EXPENSES Loan Payment -$4,165
Property Tax -$1,265
Property Insurance -$66
Property Management Fees -$199
CASH FLOW
-$1,624

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.

$1,199,000

PROJECTED PRICE

$4,070

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,485

INVESTMENT

$323,485

Down Payment
$299,750
Rehab Estimate
$5,750
Closing Costs
$17,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,165

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,070

    LIST RENT
  • $2.55

    LIST RENT PER SQFT
  • $4,128

    COMP ESTIMATED VALUE
  • $2.59

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$4,0703$4,2504$4,6505$4,800
$4,800
RENT COMPS ANALYSIS
  • 160 Roycroft Avenue Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1930
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,070
    • $2.55
    •  
  • 127 Argonne Avenue Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1928 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1928
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.35
    •  
  • 21 Redondo Avenue Long Beach, CA 3
    • 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 1940 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 1940
    property image
    LEASED 12/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.78
    •  
  • 176 Quincy Avenue Long Beach, CA 4
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1938 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1938
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,650
    • $2.56
    •  
  • 159 Claremont Avenue Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1929
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.67
    •  
PROPERTY LISTING DETAILS
Sue La Bounty
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21003018
Last Updated: 01/06/2021
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