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PROPERTY INFO
FACTS
- Single Family
- Built In 1952
- Price/Sqft : $686.50
- 3 Days on Market
- MLS # : PW21008112
- Updated Date : 01/23/2021 at 12:18
CONSTRUCTION
- Beds : 3
- Floor Size : 1,193 sqft
- Baths : 1 full
Listing Agent
Sharon Amarantos, Broker
Listing Agent's Description
Beautiful 3 Bedroom, 2 Bath Home in the Heart of the Plaza! You will love this lovely, updated home with a fabulous private front courtyard. As you enter you will appreciate the refinished original hardwood floors welcoming you into the living space. The remodeled kitchen features classic white Shaker cabinets, lots of storage space and beautiful quartz counters. The laundry room is conveniently located right off the kitchen. The living space is warm and inviting, with a fireplace, dining area with built-in storage, french doors to the backyard, and recessed lights. The primary bedroom includes an en-suite updated bathroom with custom tile stall shower. Other features of the home include vinyl fencing panels providing privacy in the backyard, central A/C, 200 amp electrical and dual-paned windows. This home is close to award winning Cubberley K-8, El Dorado Park, restaurants and shopping.
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MARKET HIGHLIGHTS
- 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)
- 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: Plaza East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Plaza East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,660 |
| EXPENSES | Loan Payment | -$2,845 |
| Property Tax | -$869 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$130 | |
|
CASH FLOW
-$1,240
|
||
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.
$819,000
PROJECTED PRICE
$2,660
PROJECTED RENT
0.32%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 4.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$222,785
LOAN DETAILS
$2,845
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $204,750 |
| Loan Amount | $614,250 |
0.17
YEARS SAVED
$84
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,660
LIST RENT -
$2.23
LIST RENT PER SQFT
-
$2,663
COMP ESTIMATED VALUE -
$2.23
COMP AVG. RENT PER SQFT
Comps Range
-
3033 Petaluma Avenue Long Beach, CA 1
- 3 beds 1 baths ∙ 1,193 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,193 Sqft ∙ Built 1952
- Rent
- Rent Per SQFT
- $2,660
- $2.23
-
2922 Knoxville Avenue Long Beach, CA 2
- 3 beds 1 baths ∙ 1,206 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,206 Sqft ∙ Built 1951
LEASED 05/06/20- Rent
- Rent Per SQFT
- $2,750
- $2.28
-
3712 N. Studebaker Rd. Long Beach, CA 3
- 3 beds 1 baths ∙ 1,219 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,219 Sqft ∙ Built 1953
LEASED 08/01/20- Rent
- Rent Per SQFT
- $2,750
- $2.26
-
3156 Josie Avenue Long Beach, CA 4
- 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1952
LEASED 07/08/20- Rent
- Rent Per SQFT
- $2,750
- $2.23
-
5878 E Pavo Street Long Beach, CA 5
- 3 beds 1 baths ∙ 1,322 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,322 Sqft ∙ Built 1951
LEASED 05/22/20- Rent
- Rent Per SQFT
- $2,850
- $2.16
PROPERTY LISTING DETAILS
Sharon Amarantos, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21008112
Last Updated: 01/23/2021
