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1873 N Bellflower Boulevard Long Beach, CA 90815

4 Beds 1 Baths 1,826 sqft Built 1947

$839,900

List Price

$3,640

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1947
  • Price/Sqft : $459.97
  • 11 Days on Market
  • MLS # : PW20225077
  • Updated Date : 10/29/2020 at 20:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,826 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Pacific Estate

Listing Agent's Description

This spacious 4 bedroom, 2 bath home is located in the highly desirable Los Altos neighborhood. As you enter you are greeted with warm wood flooring, a cozy gas fireplace for those cool nights, and cool architectural details that lead into the dining area. The dining room has been opened up into the remodeled kitchen with gleaming cabinetry, granite countertop, and stainless steel appliances. Just off the living room are two spacious bedrooms and and updated bathroom. The added sq. footage includes a large bathroom, with new modern double sink vanity, stone walk in shower, and a large walk in closet. The previous owner opened up a room that was a 5th a bedroom and can be closed off if someone needs another bedroom, here you will find a large area, perfect for a media room, home office, exercise room...oh the possibilities. Just beyond, are the other two bedrooms, one being grand in size and both have beautiful wood flooring. A large slider, as well as entry from the kitchen leads to the serene covered patio area, the perfect place for your morning cup of joe, or... This lovely home is complete with a tankless water heater, central a/c, long driveway w/custom gate and extra storage attached to the back of the garage. Don't miss your opportunity to live in the heart of Los Altos, conveniently located to Lazy Acres, Trader Joes, dining, shopping, transportation as well as highly rated Schools.

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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: Los Altos South

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: Los Altos South

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $14493697

* 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
Gant Elementary School Primary Magnet 590 22 9
Stanford Middle School Middle Regular 1,255 48 8
Wilson High School High Magnet 3,944 146 7

Gant Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 22
9
GreatSchools Rating

Stanford Middle School

  • Education Level: Middle
  • # of students: 1,255
  • # of teachers: 48
8
GreatSchools Rating

Wilson High School

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

$755,910$923,890$839,900

PURCHASE PRICE

$3,276$4,004$3,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,640
EXPENSES Loan Payment -$3,099
Property Tax -$891
Property Insurance -$71
Property Management Fees -$178
CASH FLOW
-$599

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.

$839,900

PROJECTED PRICE

$3,640

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$228,324

INVESTMENT

$228,324

Down Payment
$209,975
Rehab Estimate
$5,750
Closing Costs
$12,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $209,975
Loan Amount $629,925
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$22,584

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,640

    LIST RENT
  • $1.99

    LIST RENT PER SQFT
  • $3,625

    COMP ESTIMATED VALUE
  • $1.98

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2003$3,2954$3,6405$3,995
$3,995
RENT COMPS ANALYSIS
  • 1873 N Bellflower Boulevard Long Beach, CA 4
    • 4 beds 1 baths ∙ 1,826 Sqft ∙ Built 1947 4 beds 1 baths ∙ 1,826 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $3,640
    • $1.99
    •  
  • 5485 E 27th Street Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1952
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.03
    •  
  • 5229 E Calderwood Street Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1947
    LEASED 05/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.08
    •  
  • 2206 Gondar Avenue Long Beach, CA 3
    • 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1952
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.70
    •  
  • 2281 Faust Avenue Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1952
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.13
    •  
PROPERTY LISTING DETAILS
Elizabeth Romero
Keller Williams Pacific Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20225077
Last Updated: 10/29/2020
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