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5900 E Belice Street Long Beach, CA 90815

3 Beds 2 Baths 1,606 sqft Built 1953

$884,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $550.44
  • 4 Days on Market
  • MLS # : OC20238259
  • Updated Date : 11/12/2020 at 08:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,606 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

This tastefully upgraded Los Altos home sits on a beautiful tree-lined street and offers a dream back yard with new sparkling pool and spa for entertaining and enjoying the California lifestyle. This home includes 3 bedrooms 2 bath with generous and open living space combined with a nice flow between kitchen, dining room and living room and opens to the backyard Pool and Spa. The upgraded kitchen features maple cabinets, Quartz countertops, stainless appliances and commercial stove/oven. Beautiful natural hardwood floors span throughout the home while the oversized hallways lead to updated bedrooms. The ceiling includes recessed lighting throughout with ceiling fans in the bedrooms. The upgraded main bathroom features modern sink with ceramic tile. You will enjoy the year-round warm weather with the brand new sparkling blue Pebble Tec bottom Pool and Spa in the must see large recently upgraded backyard. Solar Panels efficiently run the pool and the A/C for the warm Southern California weather. The 2-car garage with extra parking is perfect for larger family. This home is located in a great neighborhood with award winning schools nearby, convenient freeway access, close proximity to beautiful gardens at CSULB, terrific shopping, many restaurants and minutes away from the communities of Seal Beach and Belmont Shores.

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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: Los Altos South

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: Los Altos South

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
Prisk Elementary School Primary Magnet 624 24 9
Stanford Middle School Middle Regular 1,255 48 8
Millikan High School High Magnet 3,753 145 7

Prisk Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 24
9
GreatSchools Rating

Stanford Middle School

  • Education Level: Middle
  • # of students: 1,255
  • # of teachers: 48
8
GreatSchools Rating

Millikan High School

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

$795,600$972,400$884,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$3,262
Property Tax -$938
Property Insurance -$66
Property Management Fees -$157
CASH FLOW
-$1,222

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.

$884,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.9%
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

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$240,010

INVESTMENT

$240,010

Down Payment
$221,000
Rehab Estimate
$5,750
Closing Costs
$13,260

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,262

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $221,000
Loan Amount $663,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$914

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.99

    LIST RENT PER SQFT
  • $3,449

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,0003$3,2004$3,2005$3,995
$3,995
RENT COMPS ANALYSIS
  • 5900 E Belice Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.99
    •  
  • 2216 Canehill Avenue Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,430 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,430 Sqft ∙ Built 1953
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.09
    •  
  • 2304 Stearnlee Avenue Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1950
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.11
    •  
  • 6310 E Stearns Street Long Beach, CA 3
    • 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,414 Sqft ∙ Built 1952
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.26
    •  
  • 2281 Faust Avenue Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1952
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.13
    •  
PROPERTY LISTING DETAILS
Nicholas Beljajev
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20238259
Last Updated: 11/12/2020
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