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4701 E 14th Street Long Beach, CA 90804

3 Beds 2 Baths 1,248 sqft Built 1912

$850,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1912
  • Price/Sqft : $681.09
  • 10 Days on Market
  • MLS # : OC21144590
  • Updated Date : 07/09/2021 at 08:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,248 sqft
  • Baths : 2 full
Listing Agent

Re/max Fine Homes

Listing Agent's Description

This darling 3-bedroom, 2-story home has been completely remodeled. You will fall in love with the chic updates that this home has to offer. This home offers an open concept allowing for a lot of natural light. All new dual pane vinyl windows and window trim, PEX plumbing, plumbing fixtures, fans, vents, new electrical wiring, plugs, switches and LED recessed lighting/dimmable, insulation, drywall, paint, new doors, trim, baseboards and hardware, flooring, Bertazzoni stainless steel gas range, Quartz countertops, new appliance and much more. Check Feature Sheet for all of the updates completed. Easy access to freeway, shopping, short distance to the beach, CSULB, VA, Aquarium of the Pacific. Short walk to Recreation Park 18 Golf Course. Professional pictures coming soon!

SEE MORE

MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Bryant

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $174k622k

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

Neighborhood: Bryant

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12672941

* 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
Bryant Elementary School Primary Regular 380 15 6
Jefferson Leadership Academies Middle Regular 1,067 39 5
Wilson High School High Magnet 3,944 146 7

Bryant Elementary School

  • Education Level: Primary
  • # of students: 380
  • # of teachers: 15
6
GreatSchools Rating

Jefferson Leadership Academies

  • Education Level: Middle
  • # of students: 1,067
  • # of teachers: 39
5
GreatSchools Rating

Wilson High School

  • Education Level: High
  • # of students: 3,944
  • # of teachers: 146
7
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$2,952
Property Tax -$896
Property Insurance -$57
Property Management Fees -$146
CASH FLOW
-$1,082

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.

$850,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 9.3%
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-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$927

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $2.38

    LIST RENT PER SQFT
  • $3,232

    COMP ESTIMATED VALUE
  • $2.59

    COMP AVG. RENT PER SQFT
Comps Range
$2,820
1$2,8202$2,9703$3,5004$3,6005$4,000
$4,000
RENT COMPS ANALYSIS
  • 4701 E 14th Street Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1912 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1912
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $2.38
    •  
  • 1220 Belmont Avenue Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1926
    property image
    LEASED 04/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $2.56
    •  
  • 2925 E 6th Street Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1930
    property image
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.58
    •  
  • 2515 E 4th Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1916 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1916
    property image
    LEASED 03/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.34
    •  
  • 4306 E Elko Street Long Beach, CA 5
    • 3 beds 1 baths ∙ 1,389 Sqft ∙ Built 1922 3 beds 1 baths ∙ 1,389 Sqft ∙ Built 1922
    property image
    LEASED 05/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.88
    •  
PROPERTY LISTING DETAILS
Jennifer Lacharite
Re/max Fine Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21144590
Last Updated: 07/09/2021
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