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1963 Stevely Avenue Long Beach, CA 90815

4 Beds 2 Baths 1,611 sqft Built 1954

$850,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $527.62
  • 4 Days on Market
  • MLS # : PW20262377
  • Updated Date : 12/24/2020 at 09:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,611 sqft
  • Baths : 2 full
Listing Agent

Re/max R. E. Specialists

Listing Agent's Description

Perfect pool home for those who like big gatherings (post Covid-19) and/or lots of space. The back yard is the place to be in this home. Featuring a sparkling pool including a slide and water cave with secret entrance, a private six-person spa, plenty of gathering/lounging areas and surrounding murals to make this a tropical paradise. Inside features a large living room with an adjacent dining area big enough to seat 12. Beyond the dining area and open to the living room is a huge family room with fireplace, access to the incredible pool and pass through to kitchen. There are four spacious bedrooms, one featuring a secret walk in closet, three hall closets and a dropdown attic ladder giving you plenty of storage and private space. The kitchen, includes direct access to the two-car garage and boasts solid surface counters, ceramic tile floors, plenty of storage, pass through to family room and includes both the stove and fridge. The front bath includes a marble counter and flooring, new deep tub and plenty of storage. The second bath features a new shower and an exterior door to the backyard pool area. More house highlights include beautiful ceramic flooring though out, fans in every room, solar tubes for natural light, an enclosed front privacy porch, updated electric with 220v and a two-car garage with room for two cars and plenty of storage cabinets.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: El Dorado Park South

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: El Dorado Park 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
Tincher Preparatory School Primary Magnet 851 31 9
Tincher Preparatory School Middle Magnet 851 31 9
Millikan High School High Magnet 3,753 145 7

Tincher Preparatory School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 31
9
GreatSchools Rating

Tincher Preparatory School

  • Education Level: Middle
  • # of students: 851
  • # of teachers: 31
9
GreatSchools Rating

Millikan High School

  • Education Level: High
  • # of students: 3,753
  • # of teachers: 145
7
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$3,136
Property Tax -$898
Property Insurance -$66
Property Management Fees -$157
CASH FLOW
-$1,057

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.

$850,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 4.6%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,523

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.99

    LIST RENT PER SQFT
  • $3,444

    COMP ESTIMATED VALUE
  • $2.14

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2003$3,3004$3,6505$3,700
$3,700
RENT COMPS ANALYSIS
  • 1963 Stevely Avenue Long Beach, CA 2
    • 4 beds 2 baths ∙ 1,611 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,611 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.99
    •  
  • 12061 Foster Road Rossmoor, CA 1
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1957
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.12
    •  
  • 1945 Shipway Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1954
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.02
    •  
  • 11441 Wembley Road Los Alamitos, CA 4
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1959
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.10
    •  
  • 11371 Loch Lomand Road Rossmoor, CA 5
    • 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1960
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.31
    •  
PROPERTY LISTING DETAILS
Steve Landsberg
Re/max R. E. Specialists
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20262377
Last Updated: 12/24/2020
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