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PROPERTY INFO
FACTS
- Single Family
- Built In 1944
- Price/Sqft : $629.72
- 2 Days on Market
- MLS # : RS21044232
- Updated Date : 03/06/2021 at 17:19
CONSTRUCTION
- Beds : 3
- Floor Size : 1,191 sqft
- Baths : 1 full , 1 half
Listing Agent
Century 21 On Target
Listing Agent's Description
3 bedroom 2 bathroom home serenely tucked away near Heartwell Park in Lakewood City... boasting new windows, sliding glass doors plus crown moldings dramatizing high ceilings. The reception porch and leaded glass entry door welcome you to the gracious living and dining rooms. Renovated and spacious, the kitchen features great cabinetry & countertops plus access to a den/ office opening to the guest bathroom and rear grounds. A skylit central bathroom is convenient to all 3 bedrooms... one with a door to the rear patio. The rear grounds are expansive... including a gated motor court drive/ parking area, 2 storage units, the laundry & a finished hideaway/ bonus recreation room. A home of natural tranquility... only minutes from parks, nearby restaurants and freeways. A rare gem... in Lakewood City.
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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)
- 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]
- 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)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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 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: 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 | $2,530 |
| EXPENSES | Loan Payment | -$2,605 |
| Property Tax | -$793 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$124 | |
|
CASH FLOW
-$1,048
|
||
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
$2,530
PROJECTED RENT
0.34%
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
$204,500
LOAN DETAILS
$2,605
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $187,500 |
| Loan Amount | $562,500 |
0.25
YEARS SAVED
$228
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,530
LIST RENT -
$2.12
LIST RENT PER SQFT
-
$2,543
COMP ESTIMATED VALUE -
$2.14
COMP AVG. RENT PER SQFT
Comps Range
-
5426 E Ebell Street Long Beach, CA 1
- 3 beds 1 baths ∙ 1,191 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,191 Sqft ∙ Built 1944
- Rent
- Rent Per SQFT
- $2,530
- $2.12
-
3016 N Greenbrier Road Long Beach, CA 2
- 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 3
- 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
-
6232 Freckles Rd Lakewood, CA 4
- 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
-
5945 Sandwood Street Lakewood, CA 5
- 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1950
LEASED 10/22/20- Rent
- Rent Per SQFT
- $3,100
- $2.17
PROPERTY LISTING DETAILS
Century 21 On Target
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: RS21044232
Last Updated: 03/06/2021
