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3922 N Studebaker Road Long Beach, CA 90808

3 Beds 2 Baths 1,481 sqft Built 1953

$759,900

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $513.10
  • 3 Days on Market
  • MLS # : PW20250933
  • Updated Date : 12/04/2020 at 16:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,481 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Coastal Alliance

Listing Agent's Description

BEAUTIFUL REMODELED 3 BEDEROOM 2 BATHROOMS HOME IN THE CARSON PARK AREA OF LONG BEACH - WHITE PICKET FENCE AROUND THE FRONT YARD - CENTRAL AIR AND HEAT - BEAUTIFUL KITCHEN OVER LOOKING FAMILYROOM WITH GAS FIREPLACE - MASTER SUITE WITH PRIVATE BATHROOM IN REAR OF HOME - 2 GOOD SIZE BEDROOMS AND A FULL BATH IN THE FRONT OF THIS HOME - OVER BRIGHT LIVINGROOM WITH LOTS OF WINDOWS - BEAUTIFUL SHUTTERS - FINISHED GARAGE WITH GARAGE DOOR OPENER AND 100AMP SUB PANEL - DUAL PANE WINDOWS - BEAUTIFUL PRIVATE BACKYARD - COPPER PLUMBING - NEWER ROOF 2 YEARS OLD - STONE COUNTER TOPS IN OPEN BRIGHT KITCHEN - INSIDE LAUNDRY - 200 AMP ELECTRICAL SERVICE - DOG RUN ON SIDE OF HOUSE - DIRECT ACCESS TO GARAGE FROM HOUSE - GREAT CURB APPEAL - SERVICE STREET IS BETWEEN THIS HOME AND STUDEBAKER - CLOSE TO PARKS,GOLF,STORES AND FREEWAYS - DO NOT MISS OUT ON THIS ONE

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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: El Dorado Park North

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: El Dorado Park North

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
Newcomb Elementary School Primary Magnet 948 35 8
Newcomb Elementary School Middle Magnet 948 35 8
Millikan High School High Magnet 3,753 145 7

Newcomb Elementary School

  • Education Level: Primary
  • # of students: 948
  • # of teachers: 35
8
GreatSchools Rating

Newcomb Elementary School

  • Education Level: Middle
  • # of students: 948
  • # of teachers: 35
8
GreatSchools Rating

Millikan High School

  • Education Level: High
  • # of students: 3,753
  • # of teachers: 145
7
GreatSchools Rating
 

$683,910$835,890$759,900

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,804
Property Tax -$803
Property Insurance -$63
Property Management Fees -$157
CASH FLOW
-$627

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.

$759,900

PROJECTED PRICE

$3,200

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.3%
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$500k$1.0M$1.5M$2.0M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$207,124

INVESTMENT

$207,124

Down Payment
$189,975
Rehab Estimate
$5,750
Closing Costs
$11,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $189,975
Loan Amount $569,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$15,081

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $3,217

    COMP ESTIMATED VALUE
  • $2.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,8003$2,9504$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 3922 N Studebaker Road Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.16
    •  
  • 6734 E Parkcrest Street Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,218 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,218 Sqft ∙ Built 1953
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.26
    •  
  • 4448 Iroquois Ave Lakewood, CA 2
    • 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
    •  
  • 6232 Freckles Rd Lakewood, CA 3
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1950
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.96
    •  
  • 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
    •  
PROPERTY LISTING DETAILS
Russell Johnson
Coldwell Banker Coastal Alliance
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20250933
Last Updated: 12/04/2020
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