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219 Geneva Avenue Huntington Beach, CA 92648

3 Beds 3 Baths 1,480 sqft Built 1919

$1,195,000

List Price

$4,110

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1919
  • Price/Sqft : $807.43
  • 5 Days on Market
  • MLS # : OC21054240
  • Updated Date : 03/19/2021 at 10:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,480 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

This one-of-a-kind, completely remodeled Old Town Huntington Beach home is one of the most charming and unique properties offered in the city. Tastefully designed with modern touches throughout and showcasing true pride of ownership and attention to detail, this one simply must be seen. This home offers a flexible floor plan with a spacious downstairs master suite and additional downstairs bonus room with its own private entrance and an attached bathroom, living area, and kitchenette, functioning as its own separate living quarters. The private backyard with a spa has been meticulously landscaped and offers ample space for entertaining family and friends. When you enter the home, you'll immediately notice the custom finishes and touches throughout. You're greeted to the sizable living room with a fireplace with a custom surround, flowing seamless into the kitchen and dining area. The kitchen is truly a chef's dream, equipped with stunning quartz counters, a spacious island, wine fridge, and premium stainless steel appliances. The second level hosts two additional rooms for guests. This incredible property also offers all new electrical, copper plumbing, central cooling and heat. Sitting in a premium location just half a mile from the ocean and a stone's throw from the shopping & eateries of nearby Pacific City, this turnkey Huntington Beach home is the definition of a showstopper.

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MARKET HIGHLIGHTS

  • 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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]
  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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)

PRICE & RENT TRENDS

Neighborhood: Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k844k

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

Neighborhood: Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21800200022002400260028003000320034003600Rent in $17803620

* 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
Agnes L Smith Elementary School Primary Regular 806 27 9
Ethel Dwyer Middle School Middle Regular 1,243 43 8
Huntington Beach Adult School High Magnet 2,939 103 9

Agnes L Smith Elementary School

  • Education Level: Primary
  • # of students: 806
  • # of teachers: 27
9
GreatSchools Rating

Ethel Dwyer Middle School

  • Education Level: Middle
  • # of students: 1,243
  • # of teachers: 43
8
GreatSchools Rating

Huntington Beach Adult School

  • Education Level: High
  • # of students: 2,939
  • # of teachers: 103
9
GreatSchools Rating
 

$1,075,500$1,314,500$1,195,000

PURCHASE PRICE

$3,699$4,521$4,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,110
EXPENSES Loan Payment -$4,151
Property Tax -$1,181
Property Insurance -$63
Property Management Fees -$201
CASH FLOW
-$1,486

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.

$1,195,000

PROJECTED PRICE

$4,110

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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-$20k-$10k$0.0$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$322,425

INVESTMENT

$322,425

Down Payment
$298,750
Rehab Estimate
$5,750
Closing Costs
$17,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,151

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $298,750
Loan Amount $896,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,133

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,110

    LIST RENT
  • $2.78

    LIST RENT PER SQFT
  • $4,262

    COMP ESTIMATED VALUE
  • $2.88

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,110
$4,110
RENT COMPS ANALYSIS
  • 219 Geneva Avenue Huntington Beach, CA 2
    • 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 1919 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 1919
    • Rent
    • Rent Per SQFT
    •  
    • $4,110
    • $2.78
    •  
  • 106 Alabama Street Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1939
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.88
    •  
PROPERTY LISTING DETAILS
Jody Clegg
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21054240
Last Updated: 03/19/2021
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