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8521 Lamar Drive Huntington Beach, CA 92647

3 Beds 2 Baths 1,700 sqft Built 1960

$818,000

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $481.18
  • 3 Days on Market
  • MLS # : OC20243919
  • Updated Date : 11/20/2020 at 12:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

If you’re dreaming of living in Surf City and watching beautiful sunsets from your jacuzzi this is the home for you! This large backyard is on a 7900 Sq Ft lot, including both a pool and jacuzzi. It has the perfect outdoor space for entertaining! This charming one-story, air-conditioned home has a spacious master bedroom with an oversized walk-in closet and en-suite bath. The kitchen flows into a charming dining area with a cozy fireplace. It's conveniently located near the 405 freeway and Bella Terra for shopping, dining & entertainment. Just 5 miles from downtown Main Street and Pacific City, this home is truly a suburban charmer! Within walking distance to the newly modernized Westmont Elementary Visual & Performing Arts Academy. Now is the best time to invest in a home in the OC. Schedule your showing NOW!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Westmont Elementary School Primary Regular 351 16 4
Vista View Middle School Middle Regular 698 30 7
Ocean View High School High Magnet 1,549 58 5

Westmont Elementary School

  • Education Level: Primary
  • # of students: 351
  • # of teachers: 16
4
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
 

$736,200$899,800$818,000

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$3,018
Property Tax -$826
Property Insurance -$68
Property Management Fees -$156
CASH FLOW
-$888

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.

$818,000

PROJECTED PRICE

$3,180

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

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$222,520

INVESTMENT

$222,520

Down Payment
$204,500
Rehab Estimate
$5,750
Closing Costs
$12,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,018

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $204,500
Loan Amount $613,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$4,598

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $3,349

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1803$3,2004$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 8521 Lamar Drive Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $1.87
    •  
  • 16962 Westwood Lane Huntington Beach, CA 1
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1980
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.00
    •  
  • 17071 Ross Street Fountain Valley, CA 3
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1976
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.82
    •  
  • 17306 Pepper Tree Street Fountain Valley, CA 4
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1963
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.04
    •  
  • 8382 Polder Circle Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 1,631 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,631 Sqft ∙ Built 1962
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.02
    •  
PROPERTY LISTING DETAILS
Denise Merhoff
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20243919
Last Updated: 11/20/2020
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