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3248 Senasac Avenue Long Beach, CA 90808

3 Beds 2 Baths 1,110 sqft Built 1950

$669,900

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $603.51
  • 8 Days on Market
  • MLS # : PW21010473
  • Updated Date : 01/23/2021 at 12:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,110 sqft
  • Baths : 1 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

Don't Miss This Wonderful Mid Tract Opportunity In The Desired Plaza Of East Long Beach! Features Include: Open Kitchen With Granite Counters, Original Wood Burning Fireplace, Expanded Living Room And Large Added Laundry Room As Well As A Spacious Sun Room Attached To The 2 Car Detached Garage. There Are Original Oak Hardwood Floors In The Original Part Of The Layout. With A Little Customizing And Updating, This Property Has Huge Upside Potential! Highly Rated Patrick Henry Elementary And Marshall Academy Of The Arts.

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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

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
Henry K-5 Dual Immersion Elementary School Primary Regular 851 28 9
Marshall Middle School Middle Regular 875 34 8
Millikan High School High Magnet 3,753 145 7

Henry K-5 Dual Immersion Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 28
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
 

$602,910$736,890$669,900

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$2,327
Property Tax -$711
Property Insurance -$54
Property Management Fees -$133
CASH FLOW
-$514

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.

$669,900

PROJECTED PRICE

$2,710

PROJECTED RENT

0.40%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,274

INVESTMENT

$183,274

Down Payment
$167,475
Rehab Estimate
$5,750
Closing Costs
$10,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,327

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,475
Loan Amount $502,425
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$10,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $2.44

    LIST RENT PER SQFT
  • $2,475

    COMP ESTIMATED VALUE
  • $2.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,710
1$2,7102$2,7503$2,7504$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 3248 Senasac Avenue Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $2.44
    •  
  • 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
    •  
  • 3156 Josie Avenue Long Beach, CA 3
    • 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
    •  
  • 3426 Kallin Avenue Long Beach, CA 4
    • 3 beds 1 baths ∙ 1,242 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,242 Sqft ∙ Built 1953
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.25
    •  
  • 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
Brandon Caldarella
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21010473
Last Updated: 01/23/2021
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