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2425 Zandia Avenue Long Beach, CA 90815

3 Beds 2 Baths 1,371 sqft Built 1948

$849,500

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $619.62
  • 15 Days on Market
  • MLS # : OC21140802
  • Updated Date : 07/11/2021 at 08:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,371 sqft
  • Baths : 1 full , 1 half
Listing Agent

Orange Nest Real Estate

Listing Agent's Description

Welcome home to the highly sought after Artcraft Manor neighborhood of Long Beach. This 3-bedroom home has been beautifully upgraded and sits on an oversized lot. Imagine yourself cooking in the renovated kitchen, with white cabinets, quartz counters & newer appliances. The farmhouse sink and stunning blue subway tile are icing on the cake. The kitchen opens to both the dining room and living room, creating a great open floorplan. The living room features a gorgeous tiled gas fireplace for chilly evenings. Additional features include newer low maintenance laminate wood flooring, double pane windows and recessed LED lighting throughout the home. The master bedroom is very spacious, with plenty of room for your own retreat. Don’t forget to head outside as the backyard features a large grass area as well as lemon, lime and avocado trees. There is parking galore with an extra-long driveway to the detached garage with plenty of space to park an RV, as well as a separate 2 car driveway. Come view this incredible neighborhood next to Stearns Champion Park, and a short drive to California State University Long Beach, Long Beach Airport, beaches, restaurants, and freeways. Make this your forever home today!

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MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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: Stearns Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $186k638k

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

Neighborhood: Stearns Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14262966

* 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
 

$764,550$934,450$849,500

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$2,951
Property Tax -$901
Property Insurance -$60
Property Management Fees -$144
CASH FLOW
-$1,116

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.

$849,500

PROJECTED PRICE

$2,940

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 8.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$230,868

INVESTMENT

$230,868

Down Payment
$212,375
Rehab Estimate
$5,750
Closing Costs
$12,743

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,951

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,375
Loan Amount $637,125
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $2.14

    LIST RENT PER SQFT
  • $3,044

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,9403$2,9954$3,0005$3,295
$3,295
RENT COMPS ANALYSIS
  • 2425 Zandia Avenue Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 1948
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $2.14
    •  
  • 3016 N Greenbrier Road Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1949
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.25
    •  
  • 5250 E Patterson Street Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1953
    property image
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.15
    •  
  • 2304 Stearnlee Avenue Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1950
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.11
    •  
  • 2661 Marber Avenue Long Beach, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Amy Gillissen
Orange Nest Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21140802
Last Updated: 07/11/2021
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