Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6972 Laurelhurst Drive Huntington Beach, CA 92647

3 Beds 3 Baths 1,714 sqft Built 1965

$863,000

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $503.50
  • 5 Days on Market
  • MLS # : OC20236652
  • Updated Date : 11/11/2020 at 16:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,714 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fortune Realty

Listing Agent's Description

Tour this beautiful two-story, 3-bed, 2.5-bath home located in the heart of Huntington Beach! Attic and walls have been insulated to reduce noise and save energy. Dual pane vinyl windows. Spacious, bright kitchen with quartz countertop and stainless appliances. The patio has been updated with a large, charming gazebo to provide shade - the perfect place to enjoy Huntington Beach’s beautiful weather and to host get-togethers. The backyard is superbly landscaped and offers avocado, fig, lemon, kumquat, peach, apricot, and banana trees, as well as a rosemary bush. This tile roof home with the first floor laminated throughout. The stairs and second floor are carpeted. Recess lighting throughout the entire house. Master bed has two closets and a large 3/4 bath. This is a great home in a lovely neighborhood. It sits on a large ~7000 sq. ft lot with RV Access, 12x30’. Open layout with large living room and separate dining room off-entry. The large windows provide ample light throughout the house. Kitchen is conveniently located next to dining room and opens to family room with cozy fireplace and slider to rear yard. Mudroom located on first floor, providing access to half bathroom. Over-sized 2-car garage with plenty of storage and laundry hook-ups. Gates have been added to both sides of the house to separate front yard and RV area from the backyard. Neighborhood park a short walk away. Easy access to freeways; shopping at Bella Terra and minutes from the beach!

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: 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
College View Elementary School Primary Regular 461 17 7
Spring View Middle School Middle Regular 798 32 7
Marina High School High Regular 2,438 93 9

College View Elementary School

  • Education Level: Primary
  • # of students: 461
  • # of teachers: 17
7
GreatSchools Rating

Spring View Middle School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 32
7
GreatSchools Rating

Marina High School

  • Education Level: High
  • # of students: 2,438
  • # of teachers: 93
9
GreatSchools Rating
 

$776,700$949,300$863,000

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$3,184
Property Tax -$855
Property Insurance -$69
Property Management Fees -$161
CASH FLOW
-$988

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.

$863,000

PROJECTED PRICE

$3,280

PROJECTED RENT

0.38%

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

PROJECTED ANNUAL CASH FLOW

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

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$234,445

INVESTMENT

$234,445

Down Payment
$215,750
Rehab Estimate
$5,750
Closing Costs
$12,945

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,184

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $215,750
Loan Amount $647,250
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$3,340

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $3,428

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,2803$3,3504$3,5005$3,795
$3,795
RENT COMPS ANALYSIS
  • 6972 Laurelhurst Drive Huntington Beach, CA 2
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $1.91
    •  
  • 7081 Candlelight Circle Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1967
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.02
    •  
  • 16112 Windemeir Lane Huntington Beach, CA 3
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1965
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.95
    •  
  • 16192 Windemeir Lane Huntington Beach, CA 4
    • 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 1965
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.04
    •  
  • 16381 Serenade Lane Huntington Beach, CA 5
    • 4 beds 3 baths ∙ 1,907 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,907 Sqft ∙ Built 1968
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $1.99
    •  
PROPERTY LISTING DETAILS
Don Chukiat
Fortune Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20236652
Last Updated: 11/11/2020
BESbswy