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3430 Lilly Avenue Long Beach, CA 90808

5 Beds 3 Baths 2,314 sqft Built 1964

$949,900

List Price

$3,630

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $410.50
  • 4 Days on Market
  • MLS # : PW20238442
  • Updated Date : 11/14/2020 at 20:57
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,314 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Situated in one of Long Beach’s most desirable neighborhoods, this charming two level home sits on a large lot with a spacious backyard with a trellis covered patio. Inside, the updated kitchen is expansive featuring stainless steel appliances, a spectacular tile backsplash and opens to the living room. The kitchen and living rooms offer glass doors to the backyard and an enclosed sunroom. The spacious primary bedroom fills with natural light from a large picture window, a fireplace warms the space which is accompanied by a tastefully updated ensuite. The four guest bedrooms provide ample living space, one of which can be utilized as a home office. The home is conveniently located with easy access to the 605, 405 and 91 freeways and is just minutes from Long Beach Towne Center for great dining and shopping experiences. Call this home today!

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: 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
Newcomb Elementary School Primary Magnet 948 35 8
Newcomb Elementary School Middle Magnet 948 35 8
Millikan High School High Magnet 3,753 145 7

Newcomb Elementary School

  • Education Level: Primary
  • # of students: 948
  • # of teachers: 35
8
GreatSchools Rating

Newcomb Elementary School

  • Education Level: Middle
  • # of students: 948
  • # of teachers: 35
8
GreatSchools Rating

Millikan High School

  • Education Level: High
  • # of students: 3,753
  • # of teachers: 145
7
GreatSchools Rating
 

$854,910$1,044,890$949,900

PURCHASE PRICE

$3,267$3,993$3,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,630
EXPENSES Loan Payment -$3,505
Property Tax -$1,000
Property Insurance -$83
Property Management Fees -$178
CASH FLOW
-$1,135

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.

$949,900

PROJECTED PRICE

$3,630

PROJECTED RENT

0.38%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,474

INVESTMENT

$257,474

Down Payment
$237,475
Rehab Estimate
$5,750
Closing Costs
$14,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,475
Loan Amount $712,425
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$3,757

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,630

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • $3,604

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,6003$3,6304$3,8005$3,800
$3,800
RENT COMPS ANALYSIS
  • 3430 Lilly Avenue Long Beach, CA 3
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $3,630
    • $1.57
    •  
  • 11336 Wembley Road Rossmoor, CA 1
    • 4 beds 2 baths ∙ 2,190 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,190 Sqft ∙ Built 1960
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.64
    •  
  • 7855 E Ritchie Street Long Beach, CA 2
    • 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1963 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1963
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.61
    •  
  • 4443 Via Linda Cypress, CA 4
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1968
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.46
    •  
  • 4194 Dorset Drive Cypress, CA 5
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 1966
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.52
    •  
PROPERTY LISTING DETAILS
Dana Hughes
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20238442
Last Updated: 11/14/2020
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