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3245 Santa Fe #152 Long Beach, CA 90810

3 Beds 1 Baths 992 sqft Built 1965

$300,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $302.42
  • 4 Days on Market
  • MLS # : RS20221901
  • Updated Date : 11/21/2020 at 19:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 992 sqft
  • Baths : 1 full
Listing Agent

Future Financial Enterprise

Listing Agent's Description

Must See!!! Quaint 3 bedroom in the El Capitan Community. Great first time purchase for a growing family. Well maintained unit with recessed lighting in kitchen. Good size bedrooms with ceiling fans. Walk in closet in the master. Community laundry facility in each building and pool located in main building. Gated parking area. Close to schools and freeways. $2500 bonus to buyer for minor upgrades. Use how you wish!

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Upper Westside

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $151k622k

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

Neighborhood: Upper Westside

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12802941

* 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
Muir Elementary School Primary Magnet 1,083 41 7
Muir Elementary School Middle Magnet 1,083 41 7
Cabrillo High School High Magnet 2,768 112 3

Muir Elementary School

  • Education Level: Primary
  • # of students: 1,083
  • # of teachers: 41
7
GreatSchools Rating

Muir Elementary School

  • Education Level: Middle
  • # of students: 1,083
  • # of teachers: 41
7
GreatSchools Rating

Cabrillo High School

  • Education Level: High
  • # of students: 2,768
  • # of teachers: 112
3
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,107
Property Tax -$325
Property Insurance -$51
HOA -$255
Property Management Fees -$102
CASH FLOW
$249

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.

$300,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$55,102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $2.11

    LIST RENT PER SQFT
  • $2,420

    COMP ESTIMATED VALUE
  • $2.44

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,3003$2,900
$2,900
RENT COMPS ANALYSIS
  • 3245 Santa Fe Long Beach, CA 1
    • 3 beds 1 baths ∙ 992 Sqft ∙ Built 1965 3 beds 1 baths ∙ 992 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $2.11
    •  
  • 238 E 31st Street Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,119 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,119 Sqft ∙ Built 1947
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $2.06
    •  
  • 2990 Fashion Avenue Long Beach, CA 3
    • 3 beds 1 baths ∙ 1,030 Sqft ∙ Built 1945 3 beds 1 baths ∙ 1,030 Sqft ∙ Built 1945
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.82
    •  
PROPERTY LISTING DETAILS
Danette Wilkerson
Future Financial Enterprise
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS20221901
Last Updated: 11/21/2020
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