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2108 Fidler Avenue Long Beach, CA 90815

3 Beds 1 Baths 1,407 sqft Built 1947

$898,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1947
  • Price/Sqft : $638.24
  • 7 Days on Market
  • MLS # : PW20227522
  • Updated Date : 11/02/2020 at 13:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,407 sqft
  • Baths : 1 full
Listing Agent

Unq Realty

Listing Agent's Description

Driving down the mature Jacaranda tree lined street, your future home is situated in the middle of the block. This is a great turn-key opportunity to live on one of the best streets in the Los Altos community of Long Beach. This home has been remodeled so you just have to bring your clothes & furniture. Move on in! If you want to have your children attend great neighborhood schools or want to downsize, either way this peaceful home with serene back yard is the perfect living situation. Close to shopping, which includes Lazy Acres, Trader Joes. Schools, university, freeways, parks & airport. Los Altos embodies what a neighborhood should be.

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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
Bixby Elementary School Primary Regular 553 21 8
Stanford Middle School Middle Regular 1,255 48 8
Wilson High School High Magnet 3,944 146 7

Bixby Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 21
8
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
 

$808,200$987,800$898,000

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 -$3,313
Property Tax -$953
Property Insurance -$61
Property Management Fees -$157
CASH FLOW
-$1,284

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.

$898,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.36%

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-$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$243,720

INVESTMENT

$243,720

Down Payment
$224,500
Rehab Estimate
$5,750
Closing Costs
$13,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,313

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,500
Loan Amount $673,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$556

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
  • $2.27

    LIST RENT PER SQFT
  • $3,285

    COMP ESTIMATED VALUE
  • $2.34

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2003$3,2954$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 2108 Fidler Avenue Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,407 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,407 Sqft ∙ Built 1947
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.27
    •  
  • 2342 Heather Avenue Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1951
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.43
    •  
  • 2661 Marber Avenue Long Beach, CA 3
    • 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1954 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1954
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.37
    •  
  • 5848 E Rogene Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1954
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.23
    •  
  • 5210 E Daggett Street Long Beach, CA 5
    • 4 beds 2 baths ∙ 1,514 Sqft ∙ Built 1947 4 beds 2 baths ∙ 1,514 Sqft ∙ Built 1947
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.31
    •  
PROPERTY LISTING DETAILS
Ricardo Perdomo
Unq Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20227522
Last Updated: 11/02/2020
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