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3539 Conquista Avenue Long Beach, CA 90808

3 Beds 2 Baths 1,478 sqft Built 1950

$840,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $568.34
  • 4 Days on Market
  • MLS # : OC20243205
  • Updated Date : 11/21/2020 at 15:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,478 sqft
  • Baths : 2 full
Listing Agent

Mazakas, Tasha

Listing Agent's Description

Beautifully Remodeled & PERMITTED Plaza Home. This 3 bed, 2 bath home has been reimagined with attention to detail. New roof, updated 200 amp electrical, copper & PEX plumbing, new energy efficient windows with "sound package", newly remodeled kitchen with stainless steel appliances, custom quartz countertops and matte black finishes. Newly remodeled baths. Huge Master Retreat with large closet, and large remodeled bath with dual modern vanities. New LVT flooring throughout. Indoor laundry. Newly painted interior and exterior. New interior doors, new molding, new can lighting throughout. New landscaping with automatic sprinklers. New garage door, with Smart technology. AC. Sleek smooth-stucco fireplace. Living room & Den. Large yard!! Large bedrooms. Lovely tree lined street. Easy walk to coveted Patrick Henry K-8 school. Welcome Home!

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: 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
 

$756,000$924,000$840,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$3,099
Property Tax -$888
Property Insurance -$63
Property Management Fees -$146
CASH FLOW
-$1,226

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.

$840,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.35%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$228,350

INVESTMENT

$228,350

Down Payment
$210,000
Rehab Estimate
$5,750
Closing Costs
$12,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $210,000
Loan Amount $630,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$422

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $2.01

    LIST RENT PER SQFT
  • $3,259

    COMP ESTIMATED VALUE
  • $2.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,8503$2,9704$3,0005$3,495
$3,495
RENT COMPS ANALYSIS
  • 3539 Conquista Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $2.01
    •  
  • 3156 Josie Avenue Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1952
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.23
    •  
  • 5878 E Pavo Street Long Beach, CA 2
    • 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
    •  
  • 3929 Ladoga Avenue Long Beach, CA 4
    • 3 beds 1 baths ∙ 1,292 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,292 Sqft ∙ Built 1953
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.32
    •  
  • 3864 Albury Avenue Long Beach, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Tasha Mazakas
Mazakas, Tasha
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20243205
Last Updated: 11/21/2020
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