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PROPERTY INFO
FACTS
- Single Family
- Built In 1959
- Price/Sqft : $557.63
- 3 Days on Market
- MLS # : MB20243962
- Updated Date : 11/20/2020 at 13:28
CONSTRUCTION
- Beds : 3
- Floor Size : 1,291 sqft
- Baths : 1 full
Listing Agent
Keller Williams Pacific Estate
Listing Agent's Description
Here's your opportunity to own a gorgeous 3-bedroom home in a quiet little pocket of Torrance! Located near the Harbor-UCLA Medical Center, this home comes equipped with many upgrades and is ready for the new buyer just in time for the Holidays. The interior offers a convenient flow between the living room, dining room, and kitchen and has 3 bedrooms conveniently located near the bathrooms. As you tour the home, some upgrades you'll notice are new laminate flooring, new textured carpet in the bedrooms, recessed lighting, ceiling fans in the bedrooms, updated kitchen with new stainless steel appliances, new windows, new exterior/interior paint, new electrical panel, and countless other upgrades for you to see for yourself. The dining room and kitchen area offer direct access to the grassy backyard, perfect for hosting friends and family for backyard gatherings and BBQ's. There's plenty of space for a growing family or a first-time homebuyer looking for a home that is move-in ready. Schedule your personal showing appointment today!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: West Carson
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: West Carson
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,730 |
| EXPENSES | Loan Payment | -$2,656 |
| Property Tax | -$794 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$134 | |
|
CASH FLOW
-$913
|
||
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.
$719,900
PROJECTED PRICE
$2,730
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$196,524
LOAN DETAILS
$2,656
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $179,975 |
| Loan Amount | $539,925 |
0.58
YEARS SAVED
$1,796
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,730
LIST RENT -
$2.11
LIST RENT PER SQFT
-
$2,856
COMP ESTIMATED VALUE -
$2.21
COMP AVG. RENT PER SQFT
Comps Range
-
1218 Desford Street Torrance, CA 1
- 3 beds 1 baths ∙ 1,291 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,291 Sqft ∙ Built 1959
![property image]()
- Rent
- Rent Per SQFT
- $2,730
- $2.11
-
539 W 224th Place Carson, CA 2
- 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1959
![property image]()
LEASED 06/01/19- Rent
- Rent Per SQFT
- $2,800
- $2.25
-
21802 Archibald Avenue Carson, CA 3
- 4 beds 1 baths ∙ 1,222 Sqft ∙ Built 1957 4 beds 1 baths ∙ 1,222 Sqft ∙ Built 1957
![property image]()
LEASED 09/01/20- Rent
- Rent Per SQFT
- $2,800
- $2.29
-
21212 Mariposa Avenue Torrance, CA 4
- 3 beds 1 baths ∙ 1,514 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,514 Sqft ∙ Built 1959
![property image]()
LEASED 08/14/20- Rent
- Rent Per SQFT
- $3,000
- $1.98
-
21310 Jaffrey Avenue Torrance, CA 5
- 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1960
![property image]()
LEASED 09/25/20- Rent
- Rent Per SQFT
- $3,100
- $2.33
PROPERTY LISTING DETAILS
Keller Williams Pacific Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: MB20243962
Last Updated: 11/20/2020
