17th Street Long Beach, CA


This is a premium area of Long Beach, CA.  Being close to two colleges- Long Beach City College and Cal State Long Beach- this property commands high rents (see rates).  The price of $279,900, gets you two units (a one-bedroom and a two-bedroom) which combined bring in approximately $1800 – $2000 per month or a gross schedule income of $21,600 – $24,000 a year conservatively.  The numbers speak for themselves, and this investment is safer than the stock market today.  At list price the approximate investor down payment of 25% would be $70,000 and the approximate 30 year mortgage payment at 4.5% would be $1400 or $16,800 a year.  The difference of rental income and mortgage payments at the low end of range produces $4800 per year (21,600 – 16,800).  That is an approximate 6.8% (4,800/70,000) return on investment per year.

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