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2150 Senasac Avenue Long Beach, CA 90815

3 Beds 2 Baths 1,731 sqft Built 1951

$1,049,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $606.01
  • 7 Days on Market
  • MLS # : PW21001343
  • Updated Date : 01/05/2021 at 21:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,731 sqft
  • Baths : 2 full
Listing Agent

Re/max R. E. Specialists

Listing Agent's Description

Located in one of the most sought after neighborhoods in East Long Beach this remodeled Los Altos Home checks all the boxes. As you enter the home through the classic Dutch door you are greeted by a strikingly open floor plan with solid Oak hardwood floors that flow through the entire home. The living room has two sitting areas and is open to a spacious dining room, that could also be used as an office, study, or den. The kitchen is located off the back of the house with views of the yard and is highlighted by a commercial black stainless steel KitchenAid appliance package with built-refrigerator, black granite countertops, Kohler farm sink, white subway tile backsplash, and custom raised panel cabinets offering extensive storage. Off the kitchen is a LaCantina folding door system that opens the back of the house to the outdoor dining area, firepit, and yard. Beyond the outdoor entertaining area is an expansive lawn and fenced vegetable garden. Other features include Milgard double hung & casement windows, energy efficient dual mini-split ducted HVAC system, tankless water heater, 200 amp panel, recessed lighting, direct access garage with automatic roll up garage door, spacious driveway for parking, and decorative solid wood gates. The location is top notch just steps from Minnie Gant Elementary, the Carpenter Performing Arts Center, Cal State Long Beach, The Los Altos Shopping Center, and Whaley Park. Come make this wonderful home yours for years to come!

SEE MORE

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
 

$944,100$1,153,900$1,049,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$3,644
Property Tax -$1,104
Property Insurance -$69
Property Management Fees -$172
CASH FLOW
-$1,488

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.

$1,049,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.33%

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$283,735

INVESTMENT

$283,735

Down Payment
$262,250
Rehab Estimate
$5,750
Closing Costs
$15,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,644

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $262,250
Loan Amount $786,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $2.02

    LIST RENT PER SQFT
  • $3,709

    COMP ESTIMATED VALUE
  • $2.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,3453$3,5004$3,9955$4,500
$4,500
RENT COMPS ANALYSIS
  • 2150 Senasac Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.02
    •  
  • 2216 Canehill Avenue Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,430 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,430 Sqft ∙ Built 1953
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.09
    •  
  • 1421 Josie Avenue Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1955
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,345
    • $1.98
    •  
  • 2281 Faust Avenue Long Beach, CA 4
    • 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
    •  
  • 1896 N College Circle Long Beach, CA 5
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1953
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.37
    •  
PROPERTY LISTING DETAILS
Blake Nicolai
Re/max R. E. Specialists
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21001343
Last Updated: 01/05/2021
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