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3239 Palo Verde Avenue Long Beach, CA 90808

4 Beds 2 Baths 1,686 sqft Built 1953

$839,000

List Price

$3,310

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $497.63
  • 3 Days on Market
  • MLS # : PW21057977
  • Updated Date : 03/19/2021 at 14:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,686 sqft
  • Baths : 2 full
Listing Agent

Vylla Home, Inc.

Listing Agent's Description

***TASTEFULLY REMODLED PLAZA HOME*** This wonderful home was recently upgraded by the owner/previous general contractor & builder and it shows! Features include newer windows thru-out, no steps up (on slab) to entryway adjacent to the dining area with ceiling fan light and side door to an ideal dog run area. The dining area and kitchen feature dark composition floors and the kitchen includes tile counter tops, double sink with garbage disposal, dishwasher, gas stove and microwave/vent hood combination and trash compactor. Refrigerator will NOT stay. Adjacent to the dining area is the carpeted living room with wood burning fireplace and a glass slider opening to a wood-fenced backyard with planters and both a concrete patio slab and wood patio deck for sunbathing. There is also a gate for RV access off the alley at rear. Beyond the living room is bedroom 1 with closet and a private ¾ bathroom; very separate and ideal for nanny's quarters. Behind bedroom 1 is a 2-car garage with opener and laundry area. Off the dining area is a hallway leading to a full bathroom (combo tub/shower) and on to bedrooms 2 and 3 and on to bedroom 4 featuring a private full bathroom including a spa tub and separate oversized shower stall with dual faucets. Ext is stucco with comp shingle roofing, forced air heating and central air.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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)
  • 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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Plaza East

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: Plaza East

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
Millikan High School High Magnet 3,753 145 7

Millikan High School

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

$755,100$922,900$839,000

PURCHASE PRICE

$2,979$3,641$3,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,310
EXPENSES Loan Payment -$2,914
Property Tax -$890
Property Insurance -$68
Property Management Fees -$162
CASH FLOW
-$724

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.

$839,000

PROJECTED PRICE

$3,310

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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$228,085

INVESTMENT

$228,085

Down Payment
$209,750
Rehab Estimate
$5,750
Closing Costs
$12,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,914

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $209,750
Loan Amount $629,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$10,045

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,310

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $3,490

    COMP ESTIMATED VALUE
  • $2.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,795
1$2,7952$3,3003$3,3104$3,8005$4,200
$4,200
RENT COMPS ANALYSIS
  • 3239 Palo Verde Avenue Long Beach, CA 3
    • 4 beds 2 baths ∙ 1,686 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,686 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $3,310
    • $1.96
    •  
  • 6517 E El Pulcro Street Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1952
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.00
    •  
  • 6208 E Pageantry Street Long Beach, CA 2
    • 4 beds 1 baths ∙ 1,729 Sqft ∙ Built 1953 4 beds 1 baths ∙ 1,729 Sqft ∙ Built 1953
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.91
    •  
  • 3364 Hackett Avenue Long Beach, CA 4
    • 4 beds 2 baths ∙ 1,710 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,710 Sqft ∙ Built 1953
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.22
    •  
  • 3367 Roxanne Avenue Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1954
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.15
    •  
PROPERTY LISTING DETAILS
Mike Potier
Vylla Home, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21057977
Last Updated: 03/19/2021
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