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4536 E Goldfield Ave. Long Beach, CA 90807

3 Beds 2 Baths 1,003 sqft Built 1944

$650,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1944
  • Price/Sqft : $648.06
  • 7 Days on Market
  • MLS # : PW21020310
  • Updated Date : 02/06/2021 at 14:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,003 sqft
  • Baths : 1 full , 1 half
Listing Agent

Barbara Perez, Broker

Listing Agent's Description

Beautiful traditional home on one of the largest lots in the community. Newer Roof, and recently added central air. Enter into a lovely living room with engineered hardwood and a fireplace, window seat and recessed lighting. Exquisite quartz countertops in kitchen & master bath. The updated kitchen includes a five burner gas range w/microwave hood, undercabinet LED lighting, pull out pan drawers, brilliant pendant lights over the breakfast bar in addition to the recessed lighting and stainless steel farmhouse sink. Convenient door to backyard from kitchen, new patio and new wood patio cover. Handcrafted Custom Cabinets throughout. Kohler tub and toilet in main bath with gorgeous tile shower and backsplash, storage cabinet. Bedrooms are nice size, carpeted and cozy with stylish designer paint. LOCATIONX3! Walking distance to parks bars and restaurants and shopping centers, ice skating, bowling alley, arcade. 6 miles from the beach, queen Mary, Long Beach aquarium and harbor. River Bike path accessible. So much to see and do. This will go quickly! Make sure to check out the virtual 3D walking tour https://my.matterport.com/show/?m=AB5pxrm4UAL&brand=0

SEE MORE

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: 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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$2,258
Property Tax -$686
Property Insurance -$51
Property Management Fees -$116
CASH FLOW
-$741

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.

$650,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.36%

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-$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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,972

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $2.36

    LIST RENT PER SQFT
  • $2,362

    COMP ESTIMATED VALUE
  • $2.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,370
1$2,3702$2,4003$2,5004$2,6755$2,800
$2,800
RENT COMPS ANALYSIS
  • 4536 E Goldfield Ave. Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,003 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,003 Sqft ∙ Built 1944
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $2.36
    •  
  • 5528 Hayter Avenue Lakewood, CA 2
    • 3 beds 1 baths ∙ 959 Sqft ∙ Built 1950 3 beds 1 baths ∙ 959 Sqft ∙ Built 1950
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.50
    •  
  • 5480 Lime Avenue Long Beach, CA 3
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.31
    •  
  • 5222 Obispo Avenue Lakewood, CA 4
    • 3 beds 1 baths ∙ 1,165 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,165 Sqft ∙ Built 1952
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $2.30
    •  
  • 2918 Silva Street Lakewood, CA 5
    • 3 beds 1 baths ∙ 1,210 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,210 Sqft ∙ Built 1952
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.31
    •  
PROPERTY LISTING DETAILS
Barbara Perez
Barbara Perez, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21020310
Last Updated: 02/06/2021
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