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3303 Senasac Avenue Long Beach, CA 90808

3 Beds 1 Baths 1,207 sqft Built 1950

$669,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1950
  • Price/Sqft : $554.27
  • 5 Days on Market
  • MLS # : PW20228768
  • Updated Date : 11/02/2020 at 17:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,207 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Coastal Alliance

Listing Agent's Description

Located mid-block on a quiet, tree-lined street in the Plaza, this beautiful 3 bedroom 1 bath property is the perfect place to call home. Freshly painted inside and out with gorgeous laminate flooring, smooth ceilings and central AC and heat. The spacious, light filled living room features a wood burring fireplace and looks out to the lovely backyard. Dining area, breakfast bar, inside laundry room, large windows and ample storage well appointed. Stepping outside you will find a lovely porch to relax on cool evenings, as well as a large backyard perfect for entertaining. Located close to shopping, restaurants, parks, the Marshall Academy Of The Arts Middle School and Patrick Henry Elementary. See Virtual tour and Matterport tour.

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: 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
 

$602,100$735,900$669,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$2,468
Property Tax -$710
Property Insurance -$56
Property Management Fees -$125
CASH FLOW
-$800

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.

$669,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.38%

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

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$183,035

INVESTMENT

$183,035

Down Payment
$167,250
Rehab Estimate
$5,750
Closing Costs
$10,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,468

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $167,250
Loan Amount $501,750
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$2,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $2.12

    LIST RENT PER SQFT
  • $2,692

    COMP ESTIMATED VALUE
  • $2.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,560
1$2,5602$2,7503$2,7504$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 3303 Senasac Avenue Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,207 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,207 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $2.12
    •  
  • 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
    property image
    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
    property image
    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
    property image
    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
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.16
    •  
PROPERTY LISTING DETAILS
Ginette Skelton
Coldwell Banker Coastal Alliance
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20228768
Last Updated: 11/02/2020
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