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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Belmont Shore
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$323,485
LOAN DETAILS
$4,165
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $299,750 |
| Loan Amount | $899,250 |
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
-
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
First Team Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21003018
Last Updated: 01/06/2021
