Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3123 Greenbrier Long Beach, CA 90808

3 Beds 1 Baths 1,775 sqft Built 1950

$820,000

List Price

$3,390

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1950
  • Price/Sqft : $461.97
  • 19 Days on Market
  • MLS # : RS20218646
  • Updated Date : 11/02/2020 at 20:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,775 sqft
  • Baths : 1 full
Listing Agent

Berkshire Hathaway H.s.c.p.

Listing Agent's Description

Welcome! Welcome! Step into 1775 Square feet of space and open concept great room. Your first steps are onto the 20" ceramic neutral tile, your eyes travel to the open space covered with gorgeous engineered dutch wood flooring finally landing on the custom kitchen with Quartz counter tops. The home was remodeled 10 years ago adding a master suite perfect for a multi generational household or other. Upon entering the home you will notice a Custom Office, plenty of bookshelves and well thought out area to conceal your electronics and computer. With pocket doors and separate entrance to the office, privacy and convenience is right at your fingertips. The two bedrooms to the right are Original Oak flooring, some people like carpets there? You may like that too? Plumbing and electric upgraded and the roof is less than 10 years old. *Last year one of the owners passed peacefully in the home after spending 48 wonderful years* The seller will be leaving his amazing neighbors to be with his daughter and his soon to be grandbaby! Bring your imagination to the back yard which has plenty of possibilities. Bring your RV home...no need to pay for storage anymore! Buyers/Buyers Agent to verify all information as written. Listing Agent does not assume lot size, house size or any other information to be factual. Information gathered thru public sources and Listing Agent does not guarantee those sources. Ramp is easy to Remove

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: South of Conant

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: South of Conant

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
Carver Elementary School Primary Regular 479 18 9
Marshall Middle School Middle Regular 875 34 8
Millikan High School High Magnet 3,753 145 7

Carver Elementary School

  • Education Level: Primary
  • # of students: 479
  • # of teachers: 18
9
GreatSchools Rating

Marshall Middle School

  • Education Level: Middle
  • # of students: 875
  • # of teachers: 34
8
GreatSchools Rating

Millikan High School

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

$738,000$902,000$820,000

PURCHASE PRICE

$3,051$3,729$3,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,390
EXPENSES Loan Payment -$3,025
Property Tax -$870
Property Insurance -$70
Property Management Fees -$166
CASH FLOW
-$741

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.

$820,000

PROJECTED PRICE

$3,390

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

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

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$223,050

INVESTMENT

$223,050

Down Payment
$205,000
Rehab Estimate
$5,750
Closing Costs
$12,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,025

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $205,000
Loan Amount $615,000
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$12,697

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,390

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $3,821

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,3903$3,5004$3,6005$3,700
$3,700
RENT COMPS ANALYSIS
  • 3123 Greenbrier Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,775 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,775 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $3,390
    • $1.91
    •  
  • 5485 E 27th Street Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1952
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.03
    •  
  • 5848 E Rogene Street Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1954
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.23
    •  
  • 5335 E Ebell Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1944
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.15
    •  
  • 3870 Clark Avenue Long Beach, CA 5
    • 3 beds 1 baths ∙ 1,683 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,683 Sqft ∙ Built 1946
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.20
    •  
PROPERTY LISTING DETAILS
Katherine Salinas
Berkshire Hathaway H.s.c.p.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS20218646
Last Updated: 11/02/2020
BESbswy