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1228 Sunside Street San Pedro, CA 90732

3 Beds 1 Baths 1,528 sqft Built 1940

$659,000

List Price

$2,930

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $431.28
  • 4 Days on Market
  • MLS # : SB20224890
  • Updated Date : 11/14/2020 at 20:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,528 sqft
  • Baths : 1 full
Listing Agent

West Shores Realty, Inc.

Listing Agent's Description

Don't let this one get away from you!! Perfect starter home! Very Spacious single level home tucked away on a quiet street in a great Holy Trinity location, surrounded by single family residences. Sweat equity waiting to be made here!! Nice views from the front of the house looking out toward the outer harbor and Angel's Gate. Large eat-in kitchen with double doors to the private rear patio a perfect place to entertain or eat breakfast ,lunch or dinner plus a large rear yard with mature trees, including fruit trees. Hardwood floors at the front of the house plus big living room area with a nice view of the rear yard. This home also has master bedroom with en suite. Wood windows through out the house plus a large laundry room and pantry with direct access to the garage. The owners have just recently done some painting and replaced carpeting in the living room and master bedroom. Also included are a large driveway and an additional place to park a small boat or other vehicle. Loads of opportunity wait for the buyer of this home!!

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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: Northwest San Pedro

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Northwest San Pedro

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17133697

* 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
Bandini Street Elementary School Primary Regular 351 16 4
Bandini Street Elementary School Middle Regular 351 16 4
San Pedro Senior High School High Regular 2,668 104 6

Bandini Street Elementary School

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

Bandini Street Elementary School

  • Education Level: Middle
  • # of students: 351
  • # of teachers: 16
4
GreatSchools Rating

San Pedro Senior High School

  • Education Level: High
  • # of students: 2,668
  • # of teachers: 104
6
GreatSchools Rating
 

$593,100$724,900$659,000

PURCHASE PRICE

$2,637$3,223$2,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,930
EXPENSES Loan Payment -$2,431
Property Tax -$676
Property Insurance -$64
Property Management Fees -$144
CASH FLOW
-$385

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.

$659,000

PROJECTED PRICE

$2,930

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$180,385

INVESTMENT

$180,385

Down Payment
$164,750
Rehab Estimate
$5,750
Closing Costs
$9,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $164,750
Loan Amount $494,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$23,905

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,930

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $2,976

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,875
1$2,8752$2,9003$2,9304$3,1005$3,300
$3,300
RENT COMPS ANALYSIS
  • 1228 Sunside Street San Pedro, CA 3
    • 3 beds 1 baths ∙ 1,528 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,528 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $2,930
    • $1.92
    •  
  • 1717 W Ofarrell Street San Pedro, CA 1
    • 3 beds 1 baths ∙ 1,422 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,422 Sqft ∙ Built 1955
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $2.02
    •  
  • 1293 W 23rd Street San Pedro, CA 2
    • 3 beds 1 baths ∙ 1,472 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,472 Sqft ∙ Built 1953
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.97
    •  
  • 1720 Vallecito Drive San Pedro, CA 4
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1957
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.97
    •  
  • 640 Bynner Drive San Pedro, CA 5
    • 3 beds 1 baths ∙ 1,806 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,806 Sqft ∙ Built 1955
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.83
    •  
PROPERTY LISTING DETAILS
Paul Siverson
West Shores Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20224890
Last Updated: 11/14/2020
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