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6102 E Monlaco Road Long Beach, CA 90808

5 Beds 2 Baths 2,240 sqft Built 1950

$849,000

List Price

$3,470

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $379.02
  • 18 Days on Market
  • MLS # : PW20257569
  • Updated Date : 01/01/2021 at 16:35
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,240 sqft
  • Baths : 1 full , 1 half
Listing Agent

Remax Tiffany Real Estate

Listing Agent's Description

Unique opportunity, especially for multi-generational families! Large 5 bedroom 3 bathroom home on corner lot with tons of upgrades. The X-factor of this home you ask... the two bedrooms, full bathroom, and living room with separate entrance that consist of the add-on can be a perfect in laws' suite, with the addition of one simple wall to separate it from the original 3 bed 2 bath home that's been in the family for four generations, since before the streets were paved! The caveat, it's all one story! Photos and further details on the updated flooring, kitchen, and bathrooms; newer tank-less water heater, 40 year roof, new central AC, auto set drip irrigation and sprinkler system, security system, and updated kitchen features to come!

SEE MORE

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Plaza East

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $186k856k

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

Neighborhood: Plaza East

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
Henry K-5 Dual Immersion Elementary School Primary Regular 851 28 9
Marshall Middle School Middle Regular 875 34 8
Millikan High School High Magnet 3,753 145 7

Henry K-5 Dual Immersion Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 28
9
GreatSchools Rating

Marshall Middle School

  • Education Level: Middle
  • # of students: 875
  • # of teachers: 34
8
GreatSchools Rating

Millikan High School

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

$764,100$933,900$849,000

PURCHASE PRICE

$3,123$3,817$3,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,470
EXPENSES Loan Payment -$3,132
Property Tax -$898
Property Insurance -$81
Property Management Fees -$170
CASH FLOW
-$811

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.

$849,000

PROJECTED PRICE

$3,470

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 4.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,132

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$11,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,470

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $3,457

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$3,295
1$3,2952$3,2953$3,4504$3,470
$3,470
RENT COMPS ANALYSIS
  • 6102 E Monlaco Road Long Beach, CA 4
    • 5 beds 2 baths ∙ 2,240 Sqft ∙ Built 1950 5 beds 2 baths ∙ 2,240 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,470
    • $1.55
    •  
  • 6135 Elsa Street Lakewood, CA 1
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1950 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1950
    property image
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.28
    •  
  • 2206 Gondar Avenue Long Beach, CA 2
    • 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1952
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.70
    •  
  • 6158 E Pageantry Street Long Beach, CA 3
    • 5 beds 2 baths ∙ 2,086 Sqft ∙ Built 1953 5 beds 2 baths ∙ 2,086 Sqft ∙ Built 1953
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.65
    •  
PROPERTY LISTING DETAILS
Delight Sittman
Remax Tiffany Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20257569
Last Updated: 01/01/2021
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