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17222 Golden View Lane Huntington Beach, CA 92647

4 Beds 2 Baths 1,451 sqft Built 1971

$919,000

List Price

$3,230

$3K - $3.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1971
  • Price/Sqft : $633.36
  • 17 Days on Market
  • MLS # : OC20223458
  • Updated Date : 11/06/2020 at 12:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,451 sqft
  • Baths : 2 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Built in 1971 and designed by William Lyon, the California Classic Tract was the recipient of several awards. Fresh and fun, the homes featured indoor-outdoor Southern California living. Fast forward to 2020 and you won’t be disappointed. This updated home has a relaxed coastal feel and keeps all the award-winning features. The sunny kitchen is the heart of the home with a large farm style table. The remodeled kitchen has an amazing amount of counters and plenty of cabinets with storage. The wall of windows and sliding glass door to the backyard guarantee this is where you will want to hang out with easy access to the patio and yard for year-round enjoyment. The spacious living room with wood floors has a vaulted ceiling and cozy fireplace. This four bedroom floor plan has an airy main bedroom with room for a king sized bed and dresser plus a wall of closets. The en suite bathroom has been remodeled with a soft color palate. Off the hall are three additional bedrooms and a remodeled full bathroom. Ideally located, this home has easy access to just about everything. Want to surf? What better place to live than Surf City. The beach, pier and Pacific City are just a few minutes away. If you prefer, head to Huntington Harbor for a Duffy ride or take up stand-up paddle boarding. Huntington Central Park, the Senior Center and Library are around the corner and the neighborhood park is across the street! Shop, surf, work or just stay home, this is the place you will want to be.

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MARKET HIGHLIGHTS

  • 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]
  • 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)

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
Golden View Elementary School Primary Regular 485 19 4
Mesa View Middle School Middle Magnet 806 34 9
Ocean View High School High Magnet 1,549 58 5

Golden View Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 19
4
GreatSchools Rating

Mesa View Middle School

  • Education Level: Middle
  • # of students: 806
  • # of teachers: 34
9
GreatSchools Rating

Ocean View High School

  • Education Level: High
  • # of students: 1,549
  • # of teachers: 58
5
GreatSchools Rating
 

$827,100$1,010,900$919,000

PURCHASE PRICE

$2,907$3,553$3,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,230
EXPENSES Loan Payment -$3,391
Property Tax -$910
Property Insurance -$62
Property Management Fees -$158
CASH FLOW
-$1,291

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.

$919,000

PROJECTED PRICE

$3,230

PROJECTED RENT

0.35%

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-$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$249,285

INVESTMENT

$249,285

Down Payment
$229,750
Rehab Estimate
$5,750
Closing Costs
$13,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,391

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $229,750
Loan Amount $689,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,230

    LIST RENT
  • $2.23

    LIST RENT PER SQFT
  • $3,287

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,2303$3,2504$3,3505$3,375
$3,375
RENT COMPS ANALYSIS
  • 17222 Golden View Lane Huntington Beach, CA 2
    • 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,230
    • $2.23
    •  
  • 16682 Robert Lane Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1964
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.21
    •  
  • 6831 Rook Drive Huntington Beach, CA 3
    • 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1969
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.24
    •  
  • 6671 Marilyn Drive Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1972
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.28
    •  
  • 17242 Blue Fox Circle Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1971
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,375
    • $2.33
    •  
PROPERTY LISTING DETAILS
Craig Poturalski
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20223458
Last Updated: 11/06/2020
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