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PROPERTY INFO
FACTS
- Single Family
- Built In 1974
- Price/Sqft : $446.34
- 3 Days on Market
- MLS # : RS21009176
- Updated Date : 01/15/2021 at 14:57
CONSTRUCTION
- Beds : 3
- Floor Size : 1,120 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Coastal Alliance
Listing Agent's Description
*** AMAZING OPPORTUNITY *** A MUST SEE! This RARE find Long Beach CA Location is a 3 Bedroom 2 Bath Condo that has a Ton of Amenities. In the Exclusive Virginia Country Club Neighborhood. "COUNTRY CLUB VILLAS" Upstairs Unit. The Kitchen Opens to the Living Room & Dining Room. VAULTED CEILINGS. Updated & Remodeled. The Kitchen includes Custom Cabinets, Granite Counter Tops, Subway Tile Backsplash, Recessed Lights and Stainless Steel Appliances. Engineered Flooring Throughout. Over sized Master Bedroom that includes a small Office Space and/or Sitting Area, Big Closet and your Own Private Bathroom. Cool Fresh Colors throughout create the Warm & Fuzzy FEEL. Both Bathrooms are Immaculate. Laundry Room Inside. New Central AC & Heat. Private Balcony for enjoying your Morning Coffee or Enjoying the Sunset. HOA Amenities include a Pool & Hot Tub, Rec/Bonus Room for Parties & Tennis Courts. Has a Very Private Feel within the Complex. Los Cerritos Park is walking Distance. Top Rated School District! A MUST SEE.....MORE LIKE A GREAT BUY! Please visit our Virtual Tour at https://my.matterport.com/show/?m=qRPgbzz6HKF&mls=1
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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: Los Cerritos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Los Cerritos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,810 |
| EXPENSES | Loan Payment | -$1,736 |
| Property Tax | -$527 | |
| Property Insurance | -$54 | |
| HOA | -$370 | |
| Property Management Fees | -$138 | |
|
CASH FLOW
-$15
|
||
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.
$499,900
PROJECTED PRICE
$2,810
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 4.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$138,224
LOAN DETAILS
$1,736
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $124,975 |
| Loan Amount | $374,925 |
5.83
YEARS SAVED
$33,518
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,810
LIST RENT -
$2.51
LIST RENT PER SQFT
-
$2,890
COMP ESTIMATED VALUE -
$2.58
COMP AVG. RENT PER SQFT
Comps Range
-
3721 Country Club Drive Long Beach, CA 2
- 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1974
![property image]()
- Rent
- Rent Per SQFT
- $2,810
- $2.51
-
3539 Caspian Avenue Long Beach, CA 1
- 3 beds 1 baths ∙ 950 Sqft ∙ Built 1959 3 beds 1 baths ∙ 950 Sqft ∙ Built 1959
![property image]()
LEASED 12/04/20- Rent
- Rent Per SQFT
- $2,450
- $2.58
PROPERTY LISTING DETAILS
Coldwell Banker Coastal Alliance
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: RS21009176
Last Updated: 01/15/2021
