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1246 W 17th Street San Pedro, CA 90731

3 Beds 2 Baths 2,148 sqft Built 1924

$959,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
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!

SEE MORE

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
Richard Henry Dana Middle School Middle Regular 1,528 59 2
San Pedro Senior High School High Regular 2,668 104 6

Richard Henry Dana Middle School

  • Education Level: Middle
  • # of students: 1,528
  • # of teachers: 59
2
GreatSchools Rating

San Pedro Senior High School

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

$863,100$1,054,900$959,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

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

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$259,885

INVESTMENT

$259,885

Down Payment
$239,750
Rehab Estimate
$5,750
Closing Costs
$14,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,331

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $239,750
Loan Amount $719,250
See What Happens When You Reinvest Cash Flow

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
$3,025
1$3,0252$3,3003$3,400
$3,400
RENT COMPS ANALYSIS
  • 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
Hayley Leonard
Century 21 Union Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21025071
Last Updated: 02/10/2021
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