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2741 N Studebaker Road Long Beach, CA 90815

5 Beds 4 Baths 2,519 sqft Built 1951

$1,095,000

List Price

$4,100

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $434.70
  • 5 Days on Market
  • MLS # : PW21050117
  • Updated Date : 03/12/2021 at 08:05
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,519 sqft
  • Baths : 3 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

This wonderful 2500+ square foot, five-bedroom 4-bathroom home is nestled on a family-friendly, tree-lined street in one of the most sought-after neighborhoods in Long Beach. The Plaza is located next to El Dorado Park, which offers a golf course, tennis courts, bike trails, walking paths, duck pond, playground and summer concerts plus the award-winning schools. Walking up to this home it’s hard to miss the striking curb appeal, the cute front porch and manicured front yard. The house is ideal for a growing family with an office on the ground floor which is perfect for the kids to do their homework or a parent who works from home. In addition, there is a large kitchen with a well sized pantry and dining area, a ground floor bedroom as well as the living room and wet bar to entertain friends and family. There are two bathrooms on the ground floor and upstairs there are four more bedrooms and two bathrooms. The over-sized master bedroom is an oasis in itself with an en-suite bathroom with a sky light and walk-in closet. Back downstairs, double doors open up to the outside for the popular indoor-outdoor living that California has to offer. The home comes with AC, surround sound, double pained windows with plantation shutters, indoor laundry and a double garage. This is a beautiful home in a beautiful neighborhood to start the next chapter in your family’s life.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)
  • 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: El Dorado Park North

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: El Dorado Park North

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
Emerson Parkside Academy Primary Charter 643 24 8
Stanford Middle School Middle Regular 1,255 48 8
Millikan High School High Magnet 3,753 145 7

Emerson Parkside Academy

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 24
8
GreatSchools Rating

Stanford Middle School

  • Education Level: Middle
  • # of students: 1,255
  • # of teachers: 48
8
GreatSchools Rating

Millikan High School

  • Education Level: High
  • # of students: 3,753
  • # of teachers: 145
7
GreatSchools Rating
 

$985,500$1,204,500$1,095,000

PURCHASE PRICE

$3,690$4,510$4,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,100
EXPENSES Loan Payment -$3,803
Property Tax -$1,152
Property Insurance -$88
Property Management Fees -$201
CASH FLOW
-$1,144

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.

$1,095,000

PROJECTED PRICE

$4,100

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.3%
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-$20k-$10k$0.0$10k$20k

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$295,925

INVESTMENT

$295,925

Down Payment
$273,750
Rehab Estimate
$5,750
Closing Costs
$16,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,803

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $273,750
Loan Amount $821,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$5,925

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,100

    LIST RENT
  • $1.63

    LIST RENT PER SQFT
  • $4,257

    COMP ESTIMATED VALUE
  • $1.69

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$4,1003$4,700
$4,700
RENT COMPS ANALYSIS
  • 2741 N Studebaker Road Long Beach, CA 2
    • 5 beds 4 baths ∙ 2,519 Sqft ∙ Built 1951 5 beds 4 baths ∙ 2,519 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.63
    •  
  • 11336 Wembley Road Rossmoor, CA 1
    • 4 beds 2 baths ∙ 2,190 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,190 Sqft ∙ Built 1960
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.64
    •  
  • 11682 Harrisburg Road Rossmoor, CA 3
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 1961
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.74
    •  
PROPERTY LISTING DETAILS
Matthew Tilley
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21050117
Last Updated: 03/12/2021
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