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7132 Seawind Drive Long Beach, CA 90803

3 Beds 2 Baths 1,227 sqft Built 1973

$726,900

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $592.42
  • 3 Days on Market
  • MLS # : SR21009102
  • Updated Date : 01/15/2021 at 16:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,227 sqft
  • Baths : 2 full
Listing Agent

Johnhart Corp.

Listing Agent's Description

Gorgeous 3 bedroom, 2 bathroom, townhouse in one of the most sought after parts of Long Beach! This townhouse is as close to a single family residence as it can get, with all the perks of gated community living! Upon entering the property we are greeted by a gorgeous living room with a massive glass sliding door, flooding the room with natural light. Moving into the dining room we find gorgeous floors with a very cool inlaid wood design. The kitchen features granite countertops and stainless steel appliances, and has a separate entrances to the private patio for convenience. The two guest bedrooms are large and immaculate, as is the first bathroom. Heading further down the hall we find the primary bedroom and the primary bathroom, which is en suite and is beautifully remodeled. The private patio provides an amazing space for entertaining or just hanging out after a long day at work. Conveniently located near Westminster Blvd, but in a gated community and far enough away that you can’t hear any road noise. This property is move-in ready and in immaculate condition!

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MARKET HIGHLIGHTS

  • 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)
  • 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: The Hill

ZipNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $186k1164k

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

Neighborhood: The Hill

ZipNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800300032003400360038004000Rent in $14494177

* 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
Kettering Elementary School Primary Regular 341 14 10
Rogers Middle School Middle Regular 890 30 8
Wilson High School High Magnet 3,944 146 7

Kettering Elementary School

  • Education Level: Primary
  • # of students: 341
  • # of teachers: 14
10
GreatSchools Rating

Rogers Middle School

  • Education Level: Middle
  • # of students: 890
  • # of teachers: 30
8
GreatSchools Rating

Wilson High School

  • Education Level: High
  • # of students: 3,944
  • # of teachers: 146
7
GreatSchools Rating
 

$654,210$799,590$726,900

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$2,525
Property Tax -$751
Property Insurance -$57
HOA -$240
Property Management Fees -$153
CASH FLOW
-$596

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.

$726,900

PROJECTED PRICE

$3,130

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.5%
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-$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$198,379

INVESTMENT

$198,379

Down Payment
$181,725
Rehab Estimate
$5,750
Closing Costs
$10,904

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,525

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,725
Loan Amount $545,175
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$9,201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,130

    LIST RENT
  • $2.55

    LIST RENT PER SQFT
  • $3,126

    COMP ESTIMATED VALUE
  • $2.55

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$3,1303$3,1504$3,1955$3,550
$3,550
RENT COMPS ANALYSIS
  • 7132 Seawind Drive Long Beach, CA 2
    • 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,130
    • $2.55
    •  
  • 1502 Stevely Avenue Long Beach, CA 1
    • 3 beds 2 baths ∙ 1,042 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,042 Sqft ∙ Built 1954
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.54
    •  
  • 7032 E El Cedral Street Long Beach, CA 3
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1954
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.61
    •  
  • 6926 E Rendina Street Long Beach, CA 4
    • 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1954
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $2.53
    •  
  • 628 Sea Breeze Drive Seal Beach, CA 5
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1957
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $2.51
    •  
PROPERTY LISTING DETAILS
John Maseredjian
Johnhart Corp.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21009102
Last Updated: 01/15/2021
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