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6010 E Los Arcos Street Long Beach, CA 90815

4 Beds 3 Baths 1,932 sqft Built 1955

$999,000

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $517.08
  • 10 Days on Market
  • MLS # : RS21045656
  • Updated Date : 03/11/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,932 sqft
  • Baths : 3 full
Listing Agent

Nationwide Real Estate Execs

Listing Agent's Description

Welcome to 6010 E. Los Arcos St! This home is located in the very safe and tight knit neighborhood area of Los Altos. This vibrant single level 4 bedroom, 3 bath, 1932 sq.ft. home sits on a 5721 sq.ft. lot. Spacious front porch greets you as you enter into a huge open great room which has a built in entertainment center and has been beautifully remodeled. Chef's kitchen is upgraded with a farmhouse sink, island with bar seating, custom cabinets, granite counter tops, pendent lights and sliding glass doors that open to a large private covered patio and backyard. Spacious master suite with walk in closet and ensuite boasting stone counters, dual vanities and walk in shower. In addition, the master suite has an attached office space with an area for a washer and dryer. Second bedroom features built ins and ensuite with soaking tub and walk in shower. There are two additional spacious bedrooms that share a nicely appointed bathroom. The large driveway adds additional space for 3 cars or an RV in addition to the 2 car detached garage. Walking distance to top schools and attractions including Prisk Elementary School, Stanford Middle School, CSULB, parks, golf courses and shopping.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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]
  • 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)
  • 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)

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
 

$899,100$1,098,900$999,000

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$3,470
Property Tax -$1,060
Property Insurance -$74
Property Management Fees -$186
CASH FLOW
-$990

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.

$999,000

PROJECTED PRICE

$3,800

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.9%
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$15k$20k

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$270,485

INVESTMENT

$270,485

Down Payment
$249,750
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,470

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$7,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,800

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $4,033

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,3453$3,8004$3,8005$3,995
$3,995
RENT COMPS ANALYSIS
  • 6010 E Los Arcos Street Long Beach, CA 4
    • 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.97
    •  
  • 1945 Shipway Avenue Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1954
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.02
    •  
  • 1421 Josie Avenue Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1955
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,345
    • $1.98
    •  
  • 3364 Hackett Avenue Long Beach, CA 3
    • 4 beds 2 baths ∙ 1,710 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,710 Sqft ∙ Built 1953
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.22
    •  
  • 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
Spencer Snyder
Nationwide Real Estate Execs
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS21045656
Last Updated: 03/11/2021
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