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1041 W 228th Street Torrance, CA 90502

4 Beds 3 Baths 1,727 sqft Built 2016

$758,000

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $438.91
  • 3 Days on Market
  • MLS # : SB20251039
  • Updated Date : 12/05/2020 at 10:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,727 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

New-in 2016, 1041 West 228th is a stunning 4 bedrooms, 2.5 bathroom knockout! Engulfed with natural cheerful light, this home is nestled within a beautifully landscaped and well thought out community of detached townhomes. Enter to the expansive open concept main floor with recessed lighting and custom builder upgrades throughout such as Custom counters tops, amazing custom flooring, direct access to the two-car garage with custom epoxied garage flooring and so much more. The oversized kitchen comes complete with granite countertops, stainless steel appliances, and a remarkable designer backsplash, with an abundance of bright natural light. The main seating area is open to the entertainer’s kitchen, and sliders welcome you to come to enjoy this private yard with a tranquil Spa in a Zen-like setting. Now…Welcome to the main sleeping level, which opens to four spacious bedrooms that are the supporting cast to the Main Suite… complete with a massive Master Bath; stand-alone tub, stand up shower, dual vanities, a walk-in closet and flooded with natural light. Each bedroom has large closets, This remarkable home comes complete with Central AC/Heating, high ceilings, custom materials, This is truly the home where you set just down your furniture and start living!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: West Carson

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $174k779k

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

Neighborhood: West Carson

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15863321

* 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
Meyler Street Elementary School Primary Regular 788 33 4
Stephen M White Middle School Middle Regular 1,656 64 5
Nathaniel Narbonne Senior High School High Regular 2,596 104 4

Meyler Street Elementary School

  • Education Level: Primary
  • # of students: 788
  • # of teachers: 33
4
GreatSchools Rating

Stephen M White Middle School

  • Education Level: Middle
  • # of students: 1,656
  • # of teachers: 64
5
GreatSchools Rating

Nathaniel Narbonne Senior High School

  • Education Level: High
  • # of students: 2,596
  • # of teachers: 104
4
GreatSchools Rating
 

$682,200$833,800$758,000

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$2,797
Property Tax -$769
Property Insurance -$69
HOA -$125
Property Management Fees -$150
CASH FLOW
-$840

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.

$758,000

PROJECTED PRICE

$3,070

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$206,620

INVESTMENT

$206,620

Down Payment
$189,500
Rehab Estimate
$5,750
Closing Costs
$11,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,797

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $189,500
Loan Amount $568,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$5,132

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $3,208

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,070
1$3,0702$3,3003$3,4954$3,5005$3,700
$3,700
RENT COMPS ANALYSIS
  • 1041 W 228th Street Torrance, CA 1
    • 4 beds 3 baths ∙ 1,727 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,727 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $1.78
    •  
  • 24632 Magnolia Place Harbor City, CA 2
    • 4 beds 3 baths ∙ 1,835 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,835 Sqft ∙ Built 1998
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.80
    •  
  • 306 Monterey Drive Carson, CA 3
    • 4 beds 3 baths ∙ 1,966 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,966 Sqft ∙ Built 1996
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.78
    •  
  • 526 W 218th Place Carson, CA 4
    • 4 beds 3 baths ∙ 1,710 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,710 Sqft ∙ Built 2016
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.05
    •  
  • 22630 Meyler Street Torrance, CA 5
    • 5 beds 2 baths ∙ 2,058 Sqft ∙ Built 2016 5 beds 2 baths ∙ 2,058 Sqft ∙ Built 2016
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.80
    •  
PROPERTY LISTING DETAILS
Tom Royds
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20251039
Last Updated: 12/05/2020
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