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3312 Terrace Ridge Lane Long Beach, CA 90804

4 Beds 3 Baths 2,301 sqft Built 2011

$850,000

List Price

$3,780

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $369.40
  • 6 Days on Market
  • MLS # : P1-3057
  • Updated Date : 01/26/2021 at 12:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,301 sqft
  • Baths : 3 full
Listing Agent

Ronan Realty, Inc.

Listing Agent's Description

Embrace your techie, eco-conscious self with this beautiful and very cool Aubry home, loaded with Green and Smart Home features! Smart home automation includes: door locks, lighting, ceiling fans, HVAC, alarm system, Ring Video Doorbell Pro and Spotlight Cam. Fiber available, ethernet wired throughout, snorkel tubes in most rooms for easy TV mounting, Great Room wired for in-ceiling surround sound. Green lifestyle money and energy saving features include: Owned (not leased) Sun Power Solar System, Tesla Wall Connector allowing 48-amp charging, drought resistant turf and succulents, Plantation shutters, ceiling fans and tankless water heater. Step inside to gorgeous Eucalyptus hardwood floors, inviting Great Room layout with cozy fireplace and entertainer's kitchen with stainless appliances, granite counters and prep/seating island. Step out to the back patio...pavers and privacy create an attractive outdoor living space. Also inside, main level bedroom, currently used as home office, and full bath. Upstairs features landing with functional workspace, laundry room, guest bedrooms with jack-and-jill bath and HUGE Master Suite with Juliet balcony, insanely huge walk-in closet and travertine flooring in spacious bath with soak tub and step-in shower. Bonus feature: Elfa shelving system in garage, allowing for a customizable storage solution. Beautiful, efficient and turnkey...come home to the gated community of Aubry, located in the historic hilltop enclave of Signal Hill!

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MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hilltop

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $160k856k

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

Neighborhood: Hilltop

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800300032003400360038004000Rent in $14494076

* 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
Bixby Elementary School Primary Regular 553 21 8
Stanford Middle School Middle Regular 1,255 48 8
Wilson High School High Magnet 3,944 146 7

Bixby Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 21
8
GreatSchools Rating

Stanford Middle School

  • Education Level: Middle
  • # of students: 1,255
  • # of teachers: 48
8
GreatSchools Rating

Wilson High School

  • Education Level: High
  • # of students: 3,944
  • # of teachers: 146
7
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$3,402$4,158$3,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,780
EXPENSES Loan Payment -$2,952
Property Tax -$896
Property Insurance -$83
HOA -$175
Property Management Fees -$185
CASH FLOW
-$512

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.

$850,000

PROJECTED PRICE

$3,780

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$21,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,780

    LIST RENT
  • $1.64

    LIST RENT PER SQFT
  • $4,495

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,780
1$3,7802$4,0003$4,4804$4,600
$4,600
RENT COMPS ANALYSIS
  • 3312 Terrace Ridge Lane Long Beach, CA 1
    • 4 beds 3 baths ∙ 2,301 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,301 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $3,780
    • $1.64
    •  
  • 2959 Hathaway Court Signal Hill, CA 2
    • 3 beds 3 baths ∙ 2,269 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,269 Sqft ∙ Built 2006
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.76
    •  
  • 2361 Promontory Drive Signal Hill, CA 3
    • 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2001
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,480
    • $2.03
    •  
  • 2263 Junipero Avenue Signal Hill, CA 4
    • 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2004
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.07
    •  
PROPERTY LISTING DETAILS
Robert Wickman
Ronan Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-3057
Last Updated: 01/26/2021
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