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6012 Panorama Drive Huntington Beach, CA 92648

4 Beds 3 Baths 2,298 sqft Built 1989

$1,057,900

List Price

$4,200

$4K - $4.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $460.36
  • 2 Days on Market
  • MLS # : LG21025320
  • Updated Date : 02/06/2021 at 12:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,298 sqft
  • Baths : 2 full , 1 half
Listing Agent

Active Realty Inc

Listing Agent's Description

Stunning 4 bedroom, 2.5 bathroom, multi-level, beach close, end unit condo in the guard gated community of Seacliffs on the Greens in Huntington Beach! Enjoy a spacious front deck entry to high ceilings, elegant banisters, and beautiful wood flooring. The kitchen features granite countertops, plush, white cabinetry, stylish tile backsplash, and a breakfast nook. The primary bedroom suite offers an inviting fireplace, private balcony with ocean views, dual sinks in the primary bathroom, a soaking tub, and walk-in shower. Additional property highlights include the 2 car garage, community swimming pool, spa, and clubhouse. Walking distance to area beaches, shopping plazas, and major roads!

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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)
  • 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Club Series South

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $272k1017k

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

Neighborhood: Club Series South

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000Rent in $19244195

* 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
Huntington Seacliff Elementary School Primary Regular 661 23 10
Ethel Dwyer Middle School Middle Regular 1,243 43 8
Huntington Beach Adult School High Magnet 2,939 103 9

Huntington Seacliff Elementary School

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 23
10
GreatSchools Rating

Ethel Dwyer Middle School

  • Education Level: Middle
  • # of students: 1,243
  • # of teachers: 43
8
GreatSchools Rating

Huntington Beach Adult School

  • Education Level: High
  • # of students: 2,939
  • # of teachers: 103
9
GreatSchools Rating
 

$952,110$1,163,690$1,057,900

PURCHASE PRICE

$3,780$4,620$4,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,200
EXPENSES Loan Payment -$3,674
Property Tax -$1,045
Property Insurance -$83
HOA -$132
Property Management Fees -$206
CASH FLOW
-$940

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,057,900

PROJECTED PRICE

$4,200

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$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$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$286,094

INVESTMENT

$286,094

Down Payment
$264,475
Rehab Estimate
$5,750
Closing Costs
$15,869

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,674

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $264,475
Loan Amount $793,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$6,966

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,200

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $4,579

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,6003$4,6004$4,7005$4,900
$4,900
RENT COMPS ANALYSIS
  • 6012 Panorama Drive Huntington Beach, CA 1
    • 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.83
    •  
  • 6131 Eaglecrest Drive Huntington Beach, CA 2
    • 3 beds 3 baths ∙ 2,476 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,476 Sqft ∙ Built 1989
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $1.86
    •  
  • 19412 Merion Circle Huntington Beach, CA 3
    • 3 beds 3 baths ∙ 2,236 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,236 Sqft ∙ Built 1988
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $2.06
    •  
  • 501 21st Street Huntington Beach, CA 4
    • 3 beds 4 baths ∙ 2,369 Sqft ∙ Built 1990 3 beds 4 baths ∙ 2,369 Sqft ∙ Built 1990
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.98
    •  
  • 628 22nd Street Huntington Beach, CA 5
    • 3 beds 4 baths ∙ 2,369 Sqft ∙ Built 1990 3 beds 4 baths ∙ 2,369 Sqft ∙ Built 1990
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $2.07
    •  
PROPERTY LISTING DETAILS
Justin Tye
Active Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: LG21025320
Last Updated: 02/06/2021
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