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3773 Mcnab Avenue Long Beach, CA 90808

3 Beds 1 Baths 1,218 sqft Built 1954

$670,900

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $550.82
  • 4 Days on Market
  • MLS # : SR21039980
  • Updated Date : 02/25/2021 at 17:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,218 sqft
  • Baths : 1 full
Listing Agent

Johnhart Corp.

Listing Agent's Description

Beautiful 3 bedroom, 1 bathroom home in the desirable neighborhood of Carson Park in Long Beach! This home sits on a corner lot with a wide, luscious green lawn that greets you as you enter the light and airy living room showcasing the fireplace perfect for cozy gatherings and plush carpet throughout the home. Heading to the left we find a perfectly sized kitchen featuring white appliances and retro-style countertops. The kitchen opens to the dining room with convenient access to the expansive backyard designed for entertaining guests. The 3 bedrooms are evenly spread out in the home offering extra privacy with a full bathroom complete with a shower/tub combo and complemented by its original charming finishes. Last by not least, this home features a separate laundry room and a detached garage! Just minutes away from Heartwell Park and the award winning Patrick Henry Elementary School, restaurants and shopping, this home has it all!

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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: 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
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

Marshall Middle School

  • Education Level: Middle
  • # of students: 875
  • # of teachers: 34
8
GreatSchools Rating

Lakewood High School

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

$603,810$737,990$670,900

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,330
Property Tax -$717
Property Insurance -$57
Property Management Fees -$134
CASH FLOW
-$508

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.

$670,900

PROJECTED PRICE

$2,730

PROJECTED RENT

0.41%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,539

INVESTMENT

$183,539

Down Payment
$167,725
Rehab Estimate
$5,750
Closing Costs
$10,064

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,330

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $167,725
Loan Amount $503,175
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$11,274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $2,728

    COMP ESTIMATED VALUE
  • $2.24

    COMP AVG. RENT PER SQFT
Comps Range
$2,730
1$2,7302$2,7503$2,7504$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 3773 Mcnab Avenue Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,218 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,218 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $2.24
    •  
  • 3712 N. Studebaker Rd. Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,219 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,219 Sqft ∙ Built 1953
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.26
    •  
  • 3156 Josie Avenue Long Beach, CA 3
    • 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
    •  
  • 4448 Iroquois Ave Lakewood, CA 4
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1952
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.15
    •  
  • 3929 Ladoga Avenue Long Beach, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
John Maseredjian
Johnhart Corp.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21039980
Last Updated: 02/25/2021
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