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5337 E Walkerton Street Long Beach, CA 90808

3 Beds 2 Baths 1,740 sqft Built 1945

$749,900

List Price

$3,290

$3K - $3.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1945
  • Price/Sqft : $430.98
  • 5 Days on Market
  • MLS # : OC20258158
  • Updated Date : 12/16/2020 at 14:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,740 sqft
  • Baths : 2 full
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Charm, character, and an excellent location make this home in Long Beach ideal. Just minutes from Cal State Long Beach, the airport, and convenient access to schools, shops, parks and restaurants, this quaint property boasts three bedrooms and two bathrooms and a family room. Rustic features and built-ins offer added flair and functional space, and are combined with mid-century accents and design in a light and airy floorplan. This 1740 SF home sits on a large lot with lovely curb appeal in a well- established neighborhood. This home features new carpet, paint, a detached two car garage and mature foliage, rose bushes and a covered patio.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Plaza West

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: Plaza West

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
Lakewood High School High Regular 3,553 134 6

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

Lakewood High School

  • Education Level: High
  • # of students: 3,553
  • # of teachers: 134
6
GreatSchools Rating
 

$674,910$824,890$749,900

PURCHASE PRICE

$2,961$3,619$3,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,290
EXPENSES Loan Payment -$2,767
Property Tax -$793
Property Insurance -$69
Property Management Fees -$161
CASH FLOW
-$500

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.

$749,900

PROJECTED PRICE

$3,290

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.5%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% 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 $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$22,713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,290

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $3,663

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,2903$3,4954$3,6005$3,700
$3,700
RENT COMPS ANALYSIS
  • 5337 E Walkerton Street Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1945
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,290
    • $1.89
    •  
  • 6232 Freckles Rd Lakewood, CA 1
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1950
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.96
    •  
  • 3864 Albury Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1942
    property image
    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
    property image
    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
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.20
    •  
PROPERTY LISTING DETAILS
Sean Stanfield
Pacific Sotheby's Int'l Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20258158
Last Updated: 12/16/2020
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