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3281 Julian Avenue Long Beach, CA 90808

5 Beds 4 Baths 2,995 sqft Built 1966

$1,250,000

List Price

$4,270

$4K - $4.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $417.36
  • 7 Days on Market
  • MLS # : PW21053852
  • Updated Date : 03/19/2021 at 14:27
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,995 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Fantastic El Dorado Park Estates Expanded 205 model (Tri-level all above ground) with downstairs bedroom and attached 1/2 bathroom plus 3/4 bathroom off of hallway. Great layout for in-laws, live-in help, or just some elbow room! Enter to Porcelain Tile floors that flow throughout 1st floor into family room, laundry room, bedroom and bathrooms. Family room has wood & gas fireplace, dry-bar sliders to covered patio & recently remodeled pool and spa. Separate laundry room has plenty of storage, laundry, and a folding table. Downstairs bedroom has attached bathroom, closets and exterior door (ADU?). 2nd level features large living room with arched doorway to dining room. The kitchen has lots cabinets and plenty of counter space, double ovens, microwave and deep sink. 3rd level features 4 bedrooms and 2 bathrooms plus office. Three guest rooms share a full bathroom with double sinks, and all have lots of closet space. Master suite has wood/gas fireplace, private bathroom with dual closets and walk-in shower. Office off of Master has a large walk-in closet, built in desk, slider to small deck, and plenty of space to work, or have a nursery. The backyard was completely redone with dropped-in BBQ and pergola, refrigerator and sink. Pool redone with water features and added spa large waiting for a Summer party! Covered patio, grass area, landscaping and dog run on the side. Solar panels are fully paid for and included in sale. This is the home you have been waiting for!

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: El Dorado Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: El Dorado Park Estates

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
 

$1,125,000$1,375,000$1,250,000

PURCHASE PRICE

$3,843$4,697$4,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,270
EXPENSES Loan Payment -$4,342
Property Tax -$1,321
Property Insurance -$99
Property Management Fees -$209
CASH FLOW
-$1,701

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.

$1,250,000

PROJECTED PRICE

$4,270

PROJECTED RENT

0.34%

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$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$337,000

INVESTMENT

$337,000

Down Payment
$312,500
Rehab Estimate
$5,750
Closing Costs
$18,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,342

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $312,500
Loan Amount $937,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$566

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,270

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $4,233

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$3,450
1$3,4502$3,9503$4,2704$4,700
$4,700
RENT COMPS ANALYSIS
  • 3281 Julian Avenue Long Beach, CA 3
    • 5 beds 4 baths ∙ 2,995 Sqft ∙ Built 1966 5 beds 4 baths ∙ 2,995 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,270
    • $1.43
    •  
  • 4162 Dover Circle Cypress, CA 1
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1966
    property image
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.27
    •  
  • 2932 Channing Way Rossmoor, CA 2
    • 5 beds 4 baths ∙ 3,213 Sqft ∙ Built 1957 5 beds 4 baths ∙ 3,213 Sqft ∙ Built 1957
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.23
    •  
  • 11682 Harrisburg Road Rossmoor, CA 4
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 1961
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.74
    •  
PROPERTY LISTING DETAILS
Richard Daskam
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21053852
Last Updated: 03/19/2021
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