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PROPERTY INFO
FACTS
- Single Family
- Built In 1924
- Price/Sqft : $446.46
- 7 Days on Market
- MLS # : SB21025071
- Updated Date : 02/10/2021 at 20:47
CONSTRUCTION
- Beds : 3
- Floor Size : 2,148 sqft
- Baths : 2 full
Listing Agent
Century 21 Union Realty
Listing Agent's Description
Located in Vista Del Oro this lovely and spacious Craftsman-style home was extensively remodeled with a full second story, large first floor family room, beautiful hardwood floors throughout and lots of storage. Upstairs you will find a completely finished approximately 300 square foot "bonus room" perfect for home office, crafts, or extra guest room. Master bedroom has views of Vincent Thomas Bridge and city lights. Master bathroom has large easy-access shower and relaxing spa tub. "His" and "Her" walk-in closets are located next to master. Second bedroom does not have built-in closet but does include 3 wardrobes that stay. Kitchen has double ovens and gas cooktop and a nearby large walk-in multi-purpose closet that can be used for additional pantry or additional storage. Last but not least there is a 3+ car garage with convenient alley access!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northwest San Pedro
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,300 |
| EXPENSES | Loan Payment | -$3,331 |
| Property Tax | -$983 | |
| Property Insurance | -$79 | |
| Property Management Fees | -$162 | |
|
CASH FLOW
-$1,255
|
||
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.
$959,000
PROJECTED PRICE
$3,300
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$259,885
LOAN DETAILS
$3,331
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $239,750 |
| Loan Amount | $719,250 |
0.33
YEARS SAVED
$733
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,300
LIST RENT -
$1.54
LIST RENT PER SQFT
-
$3,276
COMP ESTIMATED VALUE -
$1.53
COMP AVG. RENT PER SQFT
Comps Range
-
1246 W 17th Street San Pedro, CA 2
- 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 1924 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 1924
- Rent
- Rent Per SQFT
- $3,300
- $1.54
-
2640 S Carolina Street San Pedro, CA 1
- 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1929 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1929
LEASED 08/31/20- Rent
- Rent Per SQFT
- $3,025
- $1.51
-
1111 Paraiso Street San Pedro, CA 3
- 3 beds 3 baths ∙ 2,204 Sqft ∙ Built 1924 3 beds 3 baths ∙ 2,204 Sqft ∙ Built 1924
LEASED 12/19/20- Rent
- Rent Per SQFT
- $3,400
- $1.54
PROPERTY LISTING DETAILS
Century 21 Union Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB21025071
Last Updated: 02/10/2021
