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1951 San Francisco Avenue Long Beach, CA 90806

3 Beds 2 Baths 1,785 sqft Built 2015

$738,500

List Price

$3,370

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $413.73
  • 2 Days on Market
  • MLS # : RS20231753
  • Updated Date : 12/05/2020 at 11:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,785 sqft
  • Baths : 2 full
Listing Agent

Re/max College Park Realty

Listing Agent's Description

Recently Built Home, Constructed in 2015 From the Ground Up!!! Large, Spacious 3 Bed, 2 Bath Home. Designer Amenities Include: New Wide Plank Flooring, Custom Kitchen Cabinets with Quartz Stone Countertops & Mosaic Backsplash. Stainless Steel Appliances, Recessed Lighting, Cathedral Ceilings, Dual Pane Windows, Gorgeous Bathrooms with Motion Sensor Lights, Central A/C and Heating, Large 2 Car Garage Finished with Drywall on Walls & Ceiling, Custom Built Laundry Station With Washer & Dryer Included, High Efficiency Solar Panel System, Built In Fire Sprinkler System Throughout Entire Home & Garage, Hi-Tech Security System With Cameras & Ring Door Bell. Professional Landscaped Front & Rear Yard with Auto Sprinkler System. Everything Like New!!! A Must See Home. Act Now, Act Fast, This Home Won’t Last! For Information On The Highest Buyers Refund, Buyer to Contact Listing Agent Directly Via Internet Search For Me Or On Trulia. Also Has Two Additional Lots In Back!

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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: South Wrigley

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: South Wrigley

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13352941

* 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
Lafayette Elementary School Primary Regular 972 34 7
Washington Middle School Middle Magnet 1,086 42 5
Cabrillo High School High Magnet 2,768 112 3

Lafayette Elementary School

  • Education Level: Primary
  • # of students: 972
  • # of teachers: 34
7
GreatSchools Rating

Washington Middle School

  • Education Level: Middle
  • # of students: 1,086
  • # of teachers: 42
5
GreatSchools Rating

Cabrillo High School

  • Education Level: High
  • # of students: 2,768
  • # of teachers: 112
3
GreatSchools Rating
 

$664,650$812,350$738,500

PURCHASE PRICE

$3,033$3,707$3,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,370
EXPENSES Loan Payment -$2,725
Property Tax -$801
Property Insurance -$70
Property Management Fees -$165
CASH FLOW
-$391

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$738,500

PROJECTED PRICE

$3,370

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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-$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$201,453

INVESTMENT

$201,453

Down Payment
$184,625
Rehab Estimate
$5,750
Closing Costs
$11,078

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,725

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $184,625
Loan Amount $553,875
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$30,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,370

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $4,355

    COMP ESTIMATED VALUE
  • $2.44

    COMP AVG. RENT PER SQFT
Comps Range
$3,370
1$3,3702$4,300
$4,300
RENT COMPS ANALYSIS
  • 1951 San Francisco Avenue Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,370
    • $1.89
    •  
  • 400 W Ocean Boulevard Long Beach, CA 2
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2007
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.44
    •  
PROPERTY LISTING DETAILS
Marvin Mcgown
Re/max College Park Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS20231753
Last Updated: 12/05/2020
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