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6301 Rahn Avenue Long Beach, CA 90805

3 Beds 2 Baths 1,162 sqft Built 1956

$549,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $472.46
  • 3 Days on Market
  • MLS # : 20673776
  • Updated Date : 01/02/2021 at 21:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,162 sqft
  • Baths : 2 full
Listing Agent

Keller Williams-santa Monica

Listing Agent's Description

Beautiful 3 bedroom 2 bath home in North Long Beach with tons of upgrades and incredible open floor plan. The home features wood flooring throughout, great natural light, updated plumbing, and a newer roof. Additionally, there is a bonus enclosed rear patio which is not included in the square footage that could be used as a rec room or home office. There is a nice sized yard with a 2 car garage and plenty of extra parking in the driveway. Easy access to multiple freeways, parks, schools, restaurants, and shops dont miss out on this great opportunity.

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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)
  • 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: Longwood

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $153k622k

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

Neighborhood: Longwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12552941

* 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
Powell Academy For Success K-8 Primary Regular 1,377 49 6
Powell Academy For Success K-8 Middle Regular 1,377 49 6
Jordan High School High Regular 3,367 133 2

Powell Academy For Success K-8

  • Education Level: Primary
  • # of students: 1,377
  • # of teachers: 49
6
GreatSchools Rating

Powell Academy For Success K-8

  • Education Level: Middle
  • # of students: 1,377
  • # of teachers: 49
6
GreatSchools Rating

Jordan High School

  • Education Level: High
  • # of students: 3,367
  • # of teachers: 133
2
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,026
Property Tax -$630
Property Insurance -$55
Property Management Fees -$124
CASH FLOW
-$305

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$549,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$20,833

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
  • $2.18

    LIST RENT PER SQFT
  • $2,554

    COMP ESTIMATED VALUE
  • $2.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5003$2,5304$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 6301 Rahn Avenue Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $2.18
    •  
  • 215 E Scott Street Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1941
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $2.34
    •  
  • 5480 Lime Avenue Long Beach, CA 2
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1937
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.31
    •  
  • 138 E Louise Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1937
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.89
    •  
  • 1427 E 55th Street Long Beach, CA 5
    • 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1974
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.25
    •  
PROPERTY LISTING DETAILS
Richard Schulman
Keller Williams-santa Monica
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20673776
Last Updated: 01/02/2021
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