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8332 Friesland Drive Huntington Beach, CA 92647

3 Beds 2 Baths 1,146 sqft Built 1963

$750,000

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $654.45
  • 4 Days on Market
  • MLS # : OC21028765
  • Updated Date : 02/12/2021 at 12:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,146 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

LOCATION, LOCATION, LOCATION! Great neighborhood with no homes behind you and distinctive features that make this home a very desirable property. This charming single family home is just minutes away from the beach. Meticulously maintained, this home offers a rare ability to be both a totally turnkey home or a great investment opportunity. From the moment you open the front door, you’ll be greeted by an inviting living room with fireplace. A kitchen overlooking the backyard. The dining area has sliding glass doors that leads towards the backyard. Newly painted interior makes it light and bright. The hallway leads down to the full bath. Three large bedrooms. Master bedroom has it’s own bathroom. There is also a dedicated laundry room. The 6,000 SF huge lot size potential is 100% usable space and a great blank slate for creation of whatever yard dreams you may have. Home has a 2-car garage. This property is in move-in condition, with potential to create your personal touches. So, if you are looking for a home that offers a full package of Southern California lifestyle at a very competitive price. NOW IS YOUR CHANCE TO SNATCH IT!

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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: Newland

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $212k831k

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

Neighborhood: Newland

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q216001800200022002400260028003000320034003600Rent in $15813620

* 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
Lake View Elementary School Primary Regular 312 14 6
Vista View Middle School Middle Regular 698 30 7
Ocean View High School High Magnet 1,549 58 5

Lake View Elementary School

  • Education Level: Primary
  • # of students: 312
  • # of teachers: 14
6
GreatSchools Rating

Vista View Middle School

  • Education Level: Middle
  • # of students: 698
  • # of teachers: 30
7
GreatSchools Rating

Ocean View High School

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

$675,000$825,000$750,000

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$2,605
Property Tax -$757
Property Insurance -$55
Property Management Fees -$146
CASH FLOW
-$583

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.

$750,000

PROJECTED PRICE

$2,980

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
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$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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$12,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $2.6

    LIST RENT PER SQFT
  • $2,753

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,980
1$2,9802$2,9953$3,0004$3,1005$3,200
$3,200
RENT COMPS ANALYSIS
  • 8332 Friesland Drive Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $2.60
    •  
  • 8221 Friesland Drive Huntington Beach, CA 2
    • 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1963
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.43
    •  
  • 8420 Drey Road Westminster, CA 3
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1960
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.37
    •  
  • 8361 Edam Circle Huntington Beach, CA 4
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1961
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.33
    •  
  • 17431 Marken Lane Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 1,289 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,289 Sqft ∙ Built 1963
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.48
    •  
PROPERTY LISTING DETAILS
Carina Ernst
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21028765
Last Updated: 02/12/2021
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