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5323 E Carita Street Long Beach, CA 90808

3 Beds 2 Baths 1,800 sqft Built 1948

$929,900

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $516.61
  • 15 Days on Market
  • MLS # : PW20255205
  • Updated Date : 01/01/2021 at 16:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Diamond

Listing Agent's Description

This MAGNIFICENT + TURNKEY 3 BR 2 bath home is one of great pride! Every detail designed with quality and precision in mind! Enter into a cozy Living Room w/ Side doors opening to front courtyard+ Natural stone fireplace hearth w/custom mantle. The kitchen situated in the center of the home, boasts high end custom cabinetry, Cambria quartz counter tops, SS DACOR cooking and GE Monogram non cooking appliances, plus a DACOR Microwave drawer. It opens into the the most warm & spacious family room w/Velux remote opening sky windows with manually retractable shades, custom built-in wall unit set up for hidden wires for TV/AV equip. Built in whole house vacuum & tankless water heater, In-door laundry w/ stackable LG W/D. Plantation shutters throughout, LeGrand switches/outlets. Master retreat has custom Built-ins set up for hidden wiring for AV & cable + room for a 65” TV, hidden watch/jewelry panel, closet built ins, & Hide away built in hamper. Master Bath has zero threshold shower, non slip tile throughout, bidet toilet seat, hardwired towel warmer, decorative LED lighting above custom vanity mirror/medicine cabinets, soaking tub w/ high end Kohler tub filler w/ hand held sprayer, & Graff fixtures on double vanity. The 2nd and 3rd bedrooms are spacious and perfect for an office or guest room and share a perfectly designed bathroom in the hall. For all the garage & Backyard features please call me to discuss. Too many features to list!

SEE MORE

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: 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
Burcham Elementary School Primary Regular 624 26 6
Marshall Middle School Middle Regular 875 34 8
Millikan High School High Magnet 3,753 145 7

Burcham Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 26
6
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
 

$836,910$1,022,890$929,900

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$3,431
Property Tax -$983
Property Insurance -$71
Property Management Fees -$172
CASH FLOW
-$1,156

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.

$929,900

PROJECTED PRICE

$3,500

PROJECTED RENT

0.38%

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$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$252,174

INVESTMENT

$252,174

Down Payment
$232,475
Rehab Estimate
$5,750
Closing Costs
$13,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,431

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $232,475
Loan Amount $697,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,797

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $1.94

    LIST RENT PER SQFT
  • $3,789

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,4953$3,5004$3,6005$3,700
$3,700
RENT COMPS ANALYSIS
  • 5323 E Carita Street Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.94
    •  
  • 6232 Freckles Rd Lakewood, CA 1
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1950
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.96
    •  
  • 3864 Albury Avenue Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1942
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.11
    •  
  • 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
Jennifer Pok
Realty One Group Diamond
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20255205
Last Updated: 01/01/2021
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