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2713 Florida Street Huntington Beach, CA 92648

4 Beds 1 Baths 1,317 sqft Built 1960

$849,000

List Price

$3,150

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $644.65
  • 4 Days on Market
  • MLS # : PW20250699
  • Updated Date : 12/03/2020 at 18:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,317 sqft
  • Baths : 1 full
Listing Agent

The Westwood Real Estate Group

Listing Agent's Description

OVERSIZED CORNER LOT LOCATION! This charming beach house features 1,317 sq feet of living space and is situated on an almost double sized corner lot of 7,400 sq feet. This property offers complete privacy with a gated front entry and stucco fencing surrounding the entire perimeter. Galley kitchen opens to the dining area and the large sized living room features a marble fireplace and sliding glass doors to the backyard. 4 bedrooms and 2 nicely updated bathrooms including a private master suite with a walk in closet. Direct garage access with laundry hook ups. Other highlights include a newer AC unit, upgraded electrical panel, newer dual pane windows, and crown and baseboard moldings. The backyard is an entertainers delight and features an expansive covered patio plus a grassy area for the kids to play. Large RV driveway and gate are perfect for any buyers that need storage for their recreational toys. Perfectly located within minutes to downtown HB, restaurants, and shopping!

SEE MORE

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: Garfield

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $212k831k

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

Neighborhood: Garfield

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q216001800200022002400260028003000320034003600Rent in $15863620

* 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
Joseph R. Perry Elementary School Primary Regular 468 19 6
Ethel Dwyer Middle School Middle Regular 1,243 43 8
Huntington Beach Adult School High Magnet 2,939 103 9

Joseph R. Perry Elementary School

  • Education Level: Primary
  • # of students: 468
  • # of teachers: 19
6
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
 

$764,100$933,900$849,000

PURCHASE PRICE

$2,835$3,465$3,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,150
EXPENSES Loan Payment -$3,132
Property Tax -$839
Property Insurance -$59
Property Management Fees -$154
CASH FLOW
-$1,035

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.

$849,000

PROJECTED PRICE

$3,150

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,132

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$3,699

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,150

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $3,144

    COMP ESTIMATED VALUE
  • $2.39

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1003$3,1504$3,2005$3,600
$3,600
RENT COMPS ANALYSIS
  • 2713 Florida Street Huntington Beach, CA 3
    • 4 beds 1 baths ∙ 1,317 Sqft ∙ Built 1960 4 beds 1 baths ∙ 1,317 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.39
    •  
  • 1720 Delaware Street Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1973
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.22
    •  
  • 512 Utica Avenue Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1973
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.30
    •  
  • 8792 Garfield Avenue Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,250 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,250 Sqft ∙ Built 1968
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.56
    •  
  • 1024 Main Street Huntington Beach, CA 5
    • 4 beds 1 baths ∙ 1,460 Sqft ∙ Built 1948 4 beds 1 baths ∙ 1,460 Sqft ∙ Built 1948
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.47
    •  
PROPERTY LISTING DETAILS
Kathleen Tomblin
The Westwood Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20250699
Last Updated: 12/03/2020
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