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4256 Gardenia Avenue Long Beach, CA 90807

3 Beds 1 Baths 1,116 sqft Built 1943

$685,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1943
  • Price/Sqft : $613.80
  • 7 Days on Market
  • MLS # : DW20241162
  • Updated Date : 11/18/2020 at 22:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,116 sqft
  • Baths : 1 full
Listing Agent

Castle Realty Homes

Listing Agent's Description

Beautiful single family home in the heart of long beach! This charmer has a bright spacious dining area, a cozy living room, 3 nice size bedrooms, front and enclosed back yards, perfect for the kids to play or entertaining, and a 2 car detached garage. Fantastic location close to parks, shopping, restaurants and freeway access!

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: Bixby Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650kPrice in $186k666k

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

Neighborhood: Bixby Highlands

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14272941

* 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
Longfellow Elementary School Primary Magnet 1,080 36 7
Hughes Middle School Middle Magnet 1,521 51 7
Polytechnic High School High Magnet 4,464 167 7

Longfellow Elementary School

  • Education Level: Primary
  • # of students: 1,080
  • # of teachers: 36
7
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
 

$616,500$753,500$685,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,527
Property Tax -$722
Property Insurance -$54
Property Management Fees -$124
CASH FLOW
-$898

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.

$685,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$187,275

INVESTMENT

$187,275

Down Payment
$171,250
Rehab Estimate
$5,750
Closing Costs
$10,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,527

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $171,250
Loan Amount $513,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $2.27

    LIST RENT PER SQFT
  • $2,519

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,530
1$2,5302$2,6503$2,7004$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 4256 Gardenia Avenue Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,116 Sqft ∙ Built 1943 3 beds 1 baths ∙ 1,116 Sqft ∙ Built 1943
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $2.27
    •  
  • 4417 Boyar Avenue Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1944
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.45
    •  
  • 3325 Arbor Road Lakewood, CA 3
    • 3 beds 1 baths ∙ 1,210 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,210 Sqft ∙ Built 1952
    property image
    LEASED 06/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.23
    •  
  • 2918 Silva Street Lakewood, CA 4
    • 3 beds 1 baths ∙ 1,210 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,210 Sqft ∙ Built 1952
    property image
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.31
    •  
  • 3946 N Marshall Way Long Beach, CA 5
    • 3 beds 1 baths ∙ 1,395 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,395 Sqft ∙ Built 1941
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.04
    •  
PROPERTY LISTING DETAILS
Millie Castillo
Castle Realty Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20241162
Last Updated: 11/18/2020
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