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236 E Artesia Boulevard Long Beach, CA 90805

3 Beds 2 Baths 1,363 sqft Built 1979

$539,990

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $396.18
  • 3 Days on Market
  • MLS # : SR21024242
  • Updated Date : 02/06/2021 at 19:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,363 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Central

Listing Agent's Description

This spacious two-story house is a great starter for a growing family in need of space and low outside maintenance. Located in North Long Beach, the house features 3 bedrooms, 3 bathrooms, a beautifully updated kitchen with plenty of cabinets, granite countertops, stainless steal appliances and free-standing cabinet bar/breakfast area, double pane windows, tile flooring throughout the first floor, wood-like laminate on the staircase and second floor. The garage is partially converted into a studio unit(mother-in-law quarters). It can be easily converted back to a two-car detached garage and a cover patio area for entertaining. Centrally located to shops, restaurants, and quick access to the 91fwy,710fwy, and 405fwy just perfect for the long commuter. Priced to SELL!

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: Freeway Circle

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $147k622k

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

Neighborhood: Freeway Circle

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12032941

* 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
King Elementary School Primary Regular 831 30 6
Hamilton Middle School Middle Regular 922 32 5
Jordan High School High Regular 3,367 133 2

King Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 30
6
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 32
5
GreatSchools Rating

Jordan High School

  • Education Level: High
  • # of students: 3,367
  • # of teachers: 133
2
GreatSchools Rating
 

$485,991$593,989$539,990

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,876
Property Tax -$588
Property Insurance -$60
Property Management Fees -$111
CASH FLOW
-$374

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.

$539,990

PROJECTED PRICE

$2,260

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 5.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,847

INVESTMENT

$148,847

Down Payment
$134,998
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,876

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $134,998
Loan Amount $404,993
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$10,704

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.66

    LIST RENT PER SQFT
  • $2,276

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2603$2,3504$2,495
$2,495
RENT COMPS ANALYSIS
  • 236 E Artesia Boulevard Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.66
    •  
  • 6844 Alondra Boulevard Paramount, CA 1
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1979
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.58
    •  
  • 282 E Marker Street Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1964
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.47
    •  
  • 1687 E 68th Street Long Beach, CA 4
    • 3 beds 3 baths ∙ 1,275 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,275 Sqft ∙ Built 1991
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.96
    •  
PROPERTY LISTING DETAILS
Janette Correa
Keller Williams Central
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21024242
Last Updated: 02/06/2021
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