Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3431 Julian Avenue Long Beach, CA 90808

4 Beds 2 Baths 2,370 sqft Built 1963

$920,000

List Price

$3,560

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $388.19
  • 4 Days on Market
  • MLS # : PW20250654
  • Updated Date : 12/03/2020 at 13:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,370 sqft
  • Baths : 1 full , 1 half
Listing Agent

Re/max College Park Realty

Listing Agent's Description

El Dorado Park Estates 204 Tri-Level model is a fantastic model due to the very open floor plan, spacious bedrooms, 2 fireplaces, and the laundry chute. 3431 Julian is in a prime interior tract location and offers many upgrades and amenities such as a dimensional composition roof that’s just 1 year old, copper plumbing, 200 amp electrical panel, new water heater, plantation shutters, and Milgard dual pane vinyl windows across the front. The possibilities are endless! Kitchen is fully equipped with lots of counter space & cabinetry, black appliances including a double door oven, smooth surface cooktop, dishwasher, refrigerator, a breakfast nook, and a beautiful view of the pool. Formal living room and dining room. Wonderful family room offers a wood & gas burning marble fireplace, and a custom mantle. Huge master suite is complete with a wood & gas burning fireplace, a dressing area with dual wardrobes, and a private bathroom. Large & very useful laundry room/utility room offers lots of additional storage, a refrigerator, and comes complete with a Whirlpool washer and dryer. Wonderful backyard is designed for entertaining & relaxation at its best with a large sparkling pool, vine covered walls, lots of deck space, a raised deck off the kitchen, and an area that would be ideal for an outdoor kitchen.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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
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
 

$828,000$1,012,000$920,000

PURCHASE PRICE

$3,204$3,916$3,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,560
EXPENSES Loan Payment -$3,394
Property Tax -$981
Property Insurance -$84
Property Management Fees -$174
CASH FLOW
-$1,074

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.

$920,000

PROJECTED PRICE

$3,560

PROJECTED RENT

0.39%

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$249,550

INVESTMENT

$249,550

Down Payment
$230,000
Rehab Estimate
$5,750
Closing Costs
$13,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,394

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $230,000
Loan Amount $690,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$4,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,560

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $3,691

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$3,560
1$3,5602$3,6003$3,6004$3,8005$3,800
$3,800
RENT COMPS ANALYSIS
  • 3431 Julian Avenue Long Beach, CA 1
    • 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,560
    • $1.50
    •  
  • 11336 Wembley Road Rossmoor, CA 2
    • 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 3
    • 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
Bob Shutts
Re/max College Park Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20250654
Last Updated: 12/03/2020
BESbswy