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5140 E Monlaco Road Long Beach, CA 90808

3 Beds 1 Baths 1,546 sqft Built 1947

$750,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1947
  • Price/Sqft : $485.12
  • 2 Days on Market
  • MLS # : CV20231077
  • Updated Date : 11/02/2020 at 12:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,546 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Town & Country

Listing Agent's Description

Location**Location**Location** Most of you that are familiar with this area know, this is a very desirable location and this home wont last long. This home is located South of Conant and blocks from Parks and schools. First time on the market in over 50 years!!! All original with the exception of the windows, which were replaced about 15 years ago. This home is being sold in it's present AS-IS Condition. If you hurry, you could be in for Christmas! The home offers 3 Bedrooms, Could be 4 bedrooms, the family room has a closet, 1 Full Bathroom and 1- 3/4 Bathroom, Living Room with Fireplace, Kitchen, separate Dining, Family Room, Two Car Garage, Laundry is in the Garage, Nice large corner lot, Firepit in rear yard with a brick sitting area. Only those buyers who are approved to purchase, will be allowed to tour the home. No prequals, approvals only.

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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: South of Conant

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: South of Conant

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
Carver Elementary School Primary Regular 479 18 9
Marshall Middle School Middle Regular 875 34 8
Millikan High School High Magnet 3,753 145 7

Carver Elementary School

  • Education Level: Primary
  • # of students: 479
  • # of teachers: 18
9
GreatSchools Rating

Marshall Middle School

  • Education Level: Middle
  • # of students: 875
  • # of teachers: 34
8
GreatSchools Rating

Millikan High School

  • Education Level: High
  • # of students: 3,753
  • # of teachers: 145
7
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,767
Property Tax -$793
Property Insurance -$64
Property Management Fees -$151
CASH FLOW
-$695

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.

$750,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

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

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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$10,743

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $1.99

    LIST RENT PER SQFT
  • $3,386

    COMP ESTIMATED VALUE
  • $2.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,8503$3,0804$3,6005$3,700
$3,700
RENT COMPS ANALYSIS
  • 5140 E Monlaco Road Long Beach, CA 3
    • 3 beds 1 baths ∙ 1,546 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,546 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $1.99
    •  
  • 3016 N Greenbrier Road Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1949
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.25
    •  
  • 5878 E Pavo Street Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,322 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,322 Sqft ∙ Built 1951
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.16
    •  
  • 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
Patricia Pike
Coldwell Banker Town & Country
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20231077
Last Updated: 11/02/2020
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