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3721 Country Club Drive #16 Long Beach, CA 90807

3 Beds 2 Baths 1,120 sqft Built 1974

$499,900

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 15, 2021 RECENTLY ADDED
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

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: Los Cerritos

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k877k

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

Neighborhood: Los Cerritos

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800300032003400360038004000Rent in $14494077

* 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
Los Cerritos Elementary School Primary Regular 535 19 9
Hughes Middle School Middle Magnet 1,521 51 7
Polytechnic High School High Magnet 4,464 167 7

Los Cerritos Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 19
9
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,521
  • # of teachers: 51
7
GreatSchools Rating

Polytechnic High School

  • Education Level: High
  • # of students: 4,464
  • # of teachers: 167
7
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,736

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

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
$2,450
1$2,4502$2,810
$2,810
RENT COMPS ANALYSIS
  • 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
Rod Austin
Coldwell Banker Coastal Alliance
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS21009176
Last Updated: 01/15/2021
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