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3763 Hackett Avenue Long Beach, CA 90808

4 Beds 2 Baths 1,950 sqft Built 1953

$935,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $479.49
  • 5 Days on Market
  • MLS # : PW21021586
  • Updated Date : 02/04/2021 at 07:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,950 sqft
  • Baths : 2 full
Listing Agent

Re/max R. E. Specialists

Listing Agent's Description

If you are looking for a large, 4 bedroom, family home that is in move-in condition...This is it!....Beautiful, remodeled kitchen(approx. 5yrs. ago), with granite counters, breakfast bar, all the cupboard space you could ever want, Built-in stove,dishwasher & microwave+ refrigerator, washer&dryer... plank tiled flooring, recessed lighting, reverse osmosis water system+instant hot water...You will love the upstairs master bedroom with its 2 walk-in closets and bathroom that can be accessed from both master and 2nd bedroom...Yes, it has a 2nd bedroom upstairs so you can have your baby or young kids up there with you...Downstairs bathroom has been completely remodeled...dining area with plank tiled flooring....Large family room overlooking backyard +it has recessed lighting and tv & surround sound included...Good sized living room with large window that overlooks the front yard.....Low maintenance backyard with gas fire pit and bar-b-que with refrigerator, ice maker, sink..All this plus: Roof(approx. 6yrs. old), copper plumbing, molding thru-out, 2 separate central air and heat units(upstairs and downstairs), solar electricity and water heater(solar paid for, not leased and only approx. 6 yrs. old) which means your save $$$ on utilities, double paned windows ...Laundry is in garage, but it has an entrydoor right on your covered front porch....Come take a look, you won't be sorry!!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Lakewood High School High Regular 3,553 134 6

Henry K-5 Dual Immersion Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 28
9
GreatSchools Rating

Lakewood High School

  • Education Level: High
  • # of students: 3,553
  • # of teachers: 134
6
GreatSchools Rating
 

$841,500$1,028,500$935,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$3,248
Property Tax -$989
Property Insurance -$74
Property Management Fees -$172
CASH FLOW
-$982

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.

$935,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.37%

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$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$253,525

INVESTMENT

$253,525

Down Payment
$233,750
Rehab Estimate
$5,750
Closing Costs
$14,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,248

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $233,750
Loan Amount $701,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$4,840

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $1.79

    LIST RENT PER SQFT
  • $3,910

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3003$3,3954$3,5005$4,200
$4,200
RENT COMPS ANALYSIS
  • 3763 Hackett Avenue Long Beach, CA 4
    • 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.79
    •  
  • 2542 Vuelta Grande Avenue Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,603 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,603 Sqft ∙ Built 1952
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.00
    •  
  • 6208 E Pageantry Street Long Beach, CA 2
    • 4 beds 1 baths ∙ 1,729 Sqft ∙ Built 1953 4 beds 1 baths ∙ 1,729 Sqft ∙ Built 1953
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.91
    •  
  • 11152 Bertha Place Cerritos, CA 3
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1968 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1968
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.96
    •  
  • 3367 Roxanne Avenue Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1954
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.15
    •  
PROPERTY LISTING DETAILS
Michael Goodman
Re/max R. E. Specialists
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21021586
Last Updated: 02/04/2021
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