Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4308 Boyar Avenue Long Beach, CA 90807

3 Beds 2 Baths 1,978 sqft Built 1944

$730,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1944
  • Price/Sqft : $369.06
  • 6 Days on Market
  • MLS # : PW20232624
  • Updated Date : 11/21/2020 at 05:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,978 sqft
  • Baths : 2 full
Listing Agent

Long Beach Real Estate

Listing Agent's Description

Very Sharp Bixby Highlands 3 bedroom 2 bath home!! Fresh paint! New Landscaping! New Flooring! Forced Air Heating and A/C! Inside Laundry Area! Lots of Closet Space! Fireplace in Living Room! Large Family Room that's Great for Entertaining! Family Room has Access to Large Driveway Area in backyard! Spacious Master Bedroom with Retreat Area, Walk In Closet and an attached Large master bathroom with Dual Sinks and a Large Shower! Master Bedroom Has Access to Backyard for great Family BBQ’s! The Wide Driveway has Room for RV Parking! Too Much to List!!

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
 

$657,000$803,000$730,000

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 -$2,693
Property Tax -$770
Property Insurance -$75
Property Management Fees -$172
CASH FLOW
-$210

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.

$730,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.48%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$199,200

INVESTMENT

$199,200

Down Payment
$182,500
Rehab Estimate
$5,750
Closing Costs
$10,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,693

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,500
Loan Amount $547,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$46,670

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
  • $1.77

    LIST RENT PER SQFT
  • $3,511

    COMP ESTIMATED VALUE
  • $1.78

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,4954$3,5005$3,680
$3,680
RENT COMPS ANALYSIS
  • 4308 Boyar Avenue Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 1944
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.77
    •  
  • 5202 Minturn Avenue Lakewood, CA 1
    • 3 beds 2 baths ∙ 1,813 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,813 Sqft ∙ Built 1952
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.77
    •  
  • 2516 Dollar Street Lakewood, CA 2
    • 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1955
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.83
    •  
  • 3960 Brayton Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1947
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.81
    •  
  • 4455 N Country Club Lane Long Beach, CA 5
    • 3 beds 2 baths ∙ 2,172 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,172 Sqft ∙ Built 1951
    LEASED 07/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,680
    • $1.69
    •  
PROPERTY LISTING DETAILS
Jack Pisciotta
Long Beach Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20232624
Last Updated: 11/21/2020
BESbswy