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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Plaza West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$204,474
LOAN DETAILS
$2,767
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $187,475 |
| Loan Amount | $562,425 |
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
-
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
Pacific Sotheby's Int'l Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20258158
Last Updated: 12/16/2020
