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4844 Pepperwood Avenue Long Beach, CA 90808

3 Beds 1 Baths 1,245 sqft Built 1943

$859,900

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1943
  • Price/Sqft : $690.68
  • 5 Days on Market
  • MLS # : PW21061183
  • Updated Date : 03/25/2021 at 05:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,245 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Coastal Prop.

Listing Agent's Description

Within the iconic and landmarked Lakewood Village community of Long Beach lies this rarely available 3-bed/2-bath 1,245 sqft home that will undoubtedly delight all who enter.  This adorable home is consummate, and inviting, a postcard perfect picture to your private park-like fenced in yard suitable for all your enjoyment.  The unique combination of this size, price, quality and condition are simply rarely found in the coveted Lakewood Village enclave.  Your indoor dining and entertainment space is doubled by the new massive red cedar outdoor living deck area that makes your new destination staycation more carefree, enjoyable and stress free despite any future pandemic.  Your more than 7,300 sqft of deep spacious lot makes the future possibilities endless for additional growth or improvements to the home, garage or ADU expansions/additions.  With a "down-to-the-studs" home remodel only completed 7 years ago, your future home enjoys a newer roof, and upgraded windows, HVAC, electrical and plumbing.  Freshly paint in/out, refinished wood floors, granite counters, stainless steel appliances, custom white shaker style Ikea cabinets and a separate indoor laundry room all make the bountiful amenities list, a true dream list.  Recent improvements also include a single pane glass door to expand your living space and a new tankless water heater for an endless supply.  Trust me - the garage will delight too!  Ample room for all your toys, home office or fitness center.  Welcome Home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$773,910$945,890$859,900

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$2,987
Property Tax -$912
Property Insurance -$57
Property Management Fees -$139
CASH FLOW
-$1,255

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.

$859,900

PROJECTED PRICE

$2,840

PROJECTED RENT

0.33%

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

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$233,624

INVESTMENT

$233,624

Down Payment
$214,975
Rehab Estimate
$5,750
Closing Costs
$12,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,987

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $214,975
Loan Amount $644,925
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $2.28

    LIST RENT PER SQFT
  • $2,854

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,675
1$2,6752$2,7753$2,8404$3,1955$3,200
$3,200
RENT COMPS ANALYSIS
  • 4844 Pepperwood Avenue Long Beach, CA 3
    • 3 beds 1 baths ∙ 1,245 Sqft ∙ Built 1943 3 beds 1 baths ∙ 1,245 Sqft ∙ Built 1943
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $2.28
    •  
  • 5222 Obispo Avenue Lakewood, CA 1
    • 3 beds 1 baths ∙ 1,165 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,165 Sqft ∙ Built 1952
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $2.30
    •  
  • 5029 Montair Avenue Lakewood, CA 2
    • 3 beds 1 baths ∙ 1,207 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,207 Sqft ∙ Built 1950
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,775
    • $2.30
    •  
  • 2928 Dashwood Street Lakewood, CA 4
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1952
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $2.32
    •  
  • 3612 Fairman Street Lakewood, CA 5
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1952
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.25
    •  
PROPERTY LISTING DETAILS
Jeffery Loftus
Keller Williams Coastal Prop.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21061183
Last Updated: 03/25/2021
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