Laura Jewett

Laura Jewett

Property SearchContact
primary-1
primary-2primary-3
Active

$1,299,000

($692,531 down)
FHA

1562 W 31st Street, Long Beach, CA 90810

N/A
N/A
sqft
PITI Monthly
$3,441.25 /mo

Listing courtesy of: John DeJesus Hernandez-Ball, Keller Williams South Bay

Assumed Rate

2.89%
7.15%

Principal & Interest

$2,755 /mo
$4,476 /mo

What's Special

INVESTORS
LOCATION
MOVE-IN READY
MODERN
HARDWOOD FLOORS
GRANITE COUNTERTOPS
STAINLESS STEEL APPLIANCES
PATIO
MATURE TREES
EFFICIENT
SOLAR PANELS
RENTAL INCOME
INVESTMENT OPPORTUNITY

This well-maintained 4-unit property offers an excellent investment opportunity in a prime location near Silverado Park, the 710 and 405 freeways, as well as local restaurants and hospitals. The front house features 2 bedrooms and 1 bath, with sleek granite countertops, stainless steel appliances, tile flooring in the kitchen and living areas, and original hardwood floors in the bedrooms. Recently upgraded with a new roof and new solar panels, this home is energy-efficient and move-in ready. The back units consist of two 2-bedroom, 1-bath units, one 1-bedroom, 1-bath unit, and a bonus studio—ideal for additional rental income or as a guest suite. All units are thoughtfully updated and meticulously maintained. The backyard offers a peaceful space with mature trees, while the front home enjoys its own private area for added privacy. Shared outdoor patio spaces provide a relaxing setting for entertaining. Located in a desirable Westside Long Beach neighborhood, this property presents a fantastic opportunity for investors seeking modern updates, convenience, and long-term value.

... Show more

Assumption Snapshot

Type of Loan
FHA
Interest Rate
2.89
Remaining Loan Term
25 years, 9 months
Monthly PITI
$3,441.25/mo
Estimated Loan Balance
$611,617
Cash to close
$692,531
Interest Paid
$77,702

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms:
  • Bathrooms:
Cooling & Heating
  • Cooling: WallWindowUnits
  • Heating: WallFurnace
Features
  • Materials: Unknown
  • Community: Unknown
  • Has Fireplace: No
  • Fireplace Features: None
  • Flooring: Tile, Vinyl, Wood

Exterior

Fencing
  • Fencing: Unknown
Roof
  • Roof: AsbestosShingle
Parking
  • Garage: No
  • Garage Spaces: 0
  • Carport: No
  • Carport Spaces:
Water
  • Sewer: PublicSewer
  • Water Source: Public
Pool
  • Has Pool: No
  • Pool Features: None

Construction

Type & Style
  • Stories: 1
  • Home type: Duplex
  • Architectural Style: Unknown
Materials
  • Unknown
  • Roof: AsbestosShingle
Condition
  • Year Built: 1938
Details
  • Builder:

Community & HOA

Community
  • Subdivision: Westside/North of Willow (WNW)
  • Features: Biking, DogPark, Gutters, StormDrains
HOA
  • Has HOA: No
Location
  • Region: Long Beach

Financial Details

  • Price per Sqft: $1,299,000
  • Tax Annual Amount: $16237.5
  • On Market Date: 2024-10-17T00:00:00.000Z
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $692,531 (53%)
You can enter any amount below - secondary financing will cover the difference if needed.
53%
$

You cover the entire equity of $692,531!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage2.89% Sellers Rate
$606,469
Your Cash:$692,531
Total Purchase Price:$1,299,000

Assumed vs Traditional Mortgage

Assumed @ 2.89%
$2,755/mo
Traditional @ 7.5%
$4,643/mo
You save $1,888/month ($22,658/year)

*Secondary financing rates are an estimated value based on input

MLS ID: SB24214203

Listing From:

Last updated: 2025-01-19T01:42:58.000Z

© , CRMLS. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

Assumed Rate

2.89%
7.15%

Principal & Interest

$2,755 /mo
$4,476 /mo
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $692,531 (53%)
You can enter any amount below - secondary financing will cover the difference if needed.
53%
$

You cover the entire equity of $692,531!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage2.89% Sellers Rate
$606,469
Your Cash:$692,531
Total Purchase Price:$1,299,000

Assumed vs Traditional Mortgage

Assumed @ 2.89%
$2,755/mo
Traditional @ 7.5%
$4,643/mo
You save $1,888/month ($22,658/year)

*Secondary financing rates are an estimated value based on input

Follow Us
UMe Assumptions
Agent/Broker
Laura Jewett(480) 628-2563laura@azinspiredliving.comMLS SA525254000

Powered By UMe.

© Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Listing Service. Real estate listings held by brokerage firms other than are marked with the Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

equal-housing

© is committed to and abides by the Fair Housing Act of Equal Opportunity.