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6541 Sabbicas Circle Huntington Beach, CA 92647

4 Beds 3 Baths 2,209 sqft Built 1967

$985,000

List Price

$3,850

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $445.90
  • 4 Days on Market
  • MLS # : OC21016964
  • Updated Date : 01/28/2021 at 07:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,209 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Select One

Listing Agent's Description

Prime Location + Excellent Floor Plan + Fantastic Price = VERY HAPPY BUYER!!! This amazing 2 story Franciscan Fountains home is located in a wonderful cul-de-sac just steps away from Huntington Beach's 350 acre Central Park & Lake Huntington! You won't find a better neighborhood at this price! Listed below the comps, this home has a ton of potential and value that will allow you to make your own updates and still have built-in equity! The Sellers have already upgraded the home's electrical wiring with a 200 Amp panel w/copper wiring and installed vinyl plank flooring! Recent upgrades include new interior paint, lighting, and fixtures! The master suite features an amazing retreat, ensuite bathroom, and private balcony! There's a great front balcony with access from three of the upstairs bedrooms! The huge grass yards in front and back offer plenty of room for play and future expansion! This home is ideally located near all major amenities including Central Park & Library, HB Sports Complex, The Equestrian Center, HB Disc Golf Course, the Senior Center at Central Park, The Park Bench Cafe, Kathy May's Lakeview Cafe, The Wetlands & walking trails, major markets like Sprouts & Trader Joe's, and just minutes from either Downtown HB Pier, Beach & Shops or Huntington Harbour Beach & Restaurants!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k844k

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

Neighborhood: Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21800200022002400260028003000320034003600Rent in $17803620

* 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
Golden View Elementary School Primary Regular 485 19 4
Mesa View Middle School Middle Magnet 806 34 9
Ocean View High School High Magnet 1,549 58 5

Golden View Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 19
4
GreatSchools Rating

Mesa View Middle School

  • Education Level: Middle
  • # of students: 806
  • # of teachers: 34
9
GreatSchools Rating

Ocean View High School

  • Education Level: High
  • # of students: 1,549
  • # of teachers: 58
5
GreatSchools Rating
 

$886,500$1,083,500$985,000

PURCHASE PRICE

$3,465$4,235$3,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,850
EXPENSES Loan Payment -$3,421
Property Tax -$975
Property Insurance -$80
Property Management Fees -$189
CASH FLOW
-$816

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.

$985,000

PROJECTED PRICE

$3,850

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$266,775

INVESTMENT

$266,775

Down Payment
$246,250
Rehab Estimate
$5,750
Closing Costs
$14,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $246,250
Loan Amount $738,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$11,084

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,850

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $3,888

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,8003$3,8504$3,9005$4,300
$4,300
RENT COMPS ANALYSIS
  • 6541 Sabbicas Circle Huntington Beach, CA 3
    • 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.74
    •  
  • 6332 Newbury Drive Huntington Beach, CA 1
    • 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 1974
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.76
    •  
  • 6572 Dohrn Circle Huntington Beach, CA 2
    • 5 beds 2 baths ∙ 2,300 Sqft ∙ Built 1970 5 beds 2 baths ∙ 2,300 Sqft ∙ Built 1970
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.65
    •  
  • 17352 Almelo Lane Huntington Beach, CA 4
    • 4 beds 4 baths ∙ 2,030 Sqft ∙ Built 1965 4 beds 4 baths ∙ 2,030 Sqft ∙ Built 1965
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.92
    •  
  • 6921 Via Carona Drive Huntington Beach, CA 5
    • 5 beds 3 baths ∙ 2,520 Sqft ∙ Built 1968 5 beds 3 baths ∙ 2,520 Sqft ∙ Built 1968
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.71
    •  
PROPERTY LISTING DETAILS
Adam Rodell
Re/max Select One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21016964
Last Updated: 01/28/2021
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