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3527 Montair Avenue Long Beach, CA 90808

3 Beds 1 Baths 1,489 sqft Built 1947

$820,000

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $550.71
  • 3 Days on Market
  • MLS # : PW21040079
  • Updated Date : 02/27/2021 at 17:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,489 sqft
  • Baths : 1 full
Listing Agent

Vylla Home, Inc.

Listing Agent's Description

This super cute east side charmer has it all! Spacious, well laid out and recently remodeled, this home has a fantastic flow, front and back yards that offer lots of privacy and a large permitted bonus room attached to the two-car garage that can fit an office for two (or more?), workout area, playroom and with a little work, an ADU. Now your staycation (and workday) is much more fun! And…the location is awesome – a serene tree lined street, two blocks from lovely Wardlow park and near restaurants and shopping. At the front sits a large inviting patio with custom pavers and a fireplace. Inside, a bay window frames the generous living room with a gas fireplace and beautiful wide plank gray bamboo flooring which continues through the whole home. The kitchen has gorgeous quartz counters, soft close shaker cabinets, a farm sink and a huge amount of counter and cabinet space. The hall bathroom has new travertine flooring, vanity, mirror and lighting. The bedrooms are a very good size and the extra-large master has an en suite bath with a walk in shower. The backyard is amazing! There is a big deck, multiple seating areas and two gazebos – one with festoon lighting and a TV (perfect for hanging out in the evening!), and one over the Jacuzzi. Fruit trees and flowering shrubbery blanket the entire property. Upgrades include double pane windows, new electrical panel, copper plumbing, tankless water heater, whole house fan, and dimmable LED recessed lighting.

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MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: South of Conant

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: South of Conant

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
Burcham Elementary School Primary Regular 624 26 6
Marshall Middle School Middle Regular 875 34 8
Millikan High School High Magnet 3,753 145 7

Burcham Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 26
6
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
 

$738,000$902,000$820,000

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$2,848
Property Tax -$867
Property Insurance -$63
Property Management Fees -$148
CASH FLOW
-$897

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.

$820,000

PROJECTED PRICE

$3,030

PROJECTED RENT

0.37%

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

PROJECTED ANNUAL CASH FLOW

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

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$223,050

INVESTMENT

$223,050

Down Payment
$205,000
Rehab Estimate
$5,750
Closing Costs
$12,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,848

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $205,000
Loan Amount $615,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$3,244

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $2.03

    LIST RENT PER SQFT
  • $3,209

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,0303$3,4954$3,6005$3,700
$3,700
RENT COMPS ANALYSIS
  • 3527 Montair Avenue Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,489 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,489 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $2.03
    •  
  • 5878 E Pavo Street Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,322 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,322 Sqft ∙ Built 1951
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.16
    •  
  • 3864 Albury Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1942
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.11
    •  
  • 5335 E Ebell Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1944
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.15
    •  
  • 3870 Clark Avenue Long Beach, CA 5
    • 3 beds 1 baths ∙ 1,683 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,683 Sqft ∙ Built 1946
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.20
    •  
PROPERTY LISTING DETAILS
Lorri Quiett
Vylla Home, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21040079
Last Updated: 02/27/2021
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