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4401 Sunfield Ave Long Beach, CA 90808

3 Beds 2 Baths 1,859 sqft Built 1940

$929,000

List Price

$3,290

$3K - $3.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $499.73
  • 3 Days on Market
  • MLS # : 210003863
  • Updated Date : 02/12/2021 at 19:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full
Listing Agent

Realty World Homecares

Listing Agent's Description

Ideally located in the sought-after neighborhood of Lakewood Village, this magnificent home offers three bedrooms, two bath. Approach via the lovely brick pathway to lush landscaping a welcoming front porch. Inside, bright and inviting spaces make for a wonderful ease of living spaces make for wonderful ease of living. The tranquil master bedroom boasts lofty vaulted ceilings and spacious 20 ft. long closet! The driveway leads up to a detached garage which can easily be converted into an in-law suite. Equipment: Garage Door Opener Other Fees: 0 Sewer: Sewer Connected Topography: LL

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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: Lakewood Village

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: Lakewood Village

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
Twain Elementary School Primary Regular 581 21 6
Bancroft Middle School Middle Magnet 1,005 35 6
Lakewood High School High Regular 3,553 134 6

Twain Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 21
6
GreatSchools Rating

Bancroft Middle School

  • Education Level: Middle
  • # of students: 1,005
  • # of teachers: 35
6
GreatSchools Rating

Lakewood High School

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

$836,100$1,021,900$929,000

PURCHASE PRICE

$2,961$3,619$3,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,290
EXPENSES Loan Payment -$3,227
Property Tax -$986
Property Insurance -$72
Property Management Fees -$161
CASH FLOW
-$1,155

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.

$929,000

PROJECTED PRICE

$3,290

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.6%
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

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$251,935

INVESTMENT

$251,935

Down Payment
$232,250
Rehab Estimate
$5,750
Closing Costs
$13,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,227

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $232,250
Loan Amount $696,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,205

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,290

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $3,839

    COMP ESTIMATED VALUE
  • $2.07

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2903$3,3004$3,6005$3,700
$3,700
RENT COMPS ANALYSIS
  • 4401 Sunfield Ave Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $3,290
    • $1.77
    •  
  • 4602 Obispo Avenue Lakewood, CA 1
    • 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1952
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.94
    •  
  • 6039 Turnergrove Drive Lakewood, CA 3
    • 4 beds 2 baths ∙ 1,673 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,673 Sqft ∙ Built 1951
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.97
    •  
  • 5335 E Ebell Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1944
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.15
    •  
  • 3870 Clark Avenue Long Beach, CA 5
    • 3 beds 1 baths ∙ 1,683 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,683 Sqft ∙ Built 1946
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.20
    •  
PROPERTY LISTING DETAILS
Edwin Manjarrez Zuniga
Realty World Homecares
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 210003863
Last Updated: 02/12/2021
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