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1318 W 216th Street Torrance, CA 90501

3 Beds 2 Baths 1,161 sqft Built 1959

$799,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $688.20
  • 2 Days on Market
  • MLS # : SB21151373
  • Updated Date : 07/12/2021 at 09:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,161 sqft
  • Baths : 2 full
Listing Agent

Compass

SEE MORE

MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Gateway L.A.

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $189k856k

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

Neighborhood: Gateway L.A.

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $14893697

* 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
Halldale Elementary School Primary Regular 542 24 6
Alexander Fleming Middle School Middle Regular 1,508 60 6
Nathaniel Narbonne Senior High School High Regular 2,596 104 4

Halldale Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 24
6
GreatSchools Rating

Alexander Fleming Middle School

  • Education Level: Middle
  • # of students: 1,508
  • # of teachers: 60
6
GreatSchools Rating

Nathaniel Narbonne Senior High School

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

$719,100$878,900$799,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,775
Property Tax -$865
Property Insurance -$55
Property Management Fees -$142
CASH FLOW
-$947

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.

$799,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.2%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $2.49

    LIST RENT PER SQFT
  • $2,876

    COMP ESTIMATED VALUE
  • $2.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8903$2,9754$3,0955$3,100
$3,100
RENT COMPS ANALYSIS
  • 1318 W 216th Street Torrance, CA 2
    • 3 beds 2 baths ∙ 1,161 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,161 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $2.49
    •  
  • 1537 W 205th Street Torrance, CA 1
    • 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1947
    LEASED 04/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.52
    •  
  • 1601 W 211th Street Torrance, CA 3
    • 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1951
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $2.25
    •  
  • 1331 W 218th Street Torrance, CA 4
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1957
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $2.81
    •  
  • 21310 Jaffrey Avenue Torrance, CA 5
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1960
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.33
    •  
PROPERTY LISTING DETAILS
Joshua Hammond
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21151373
Last Updated: 07/12/2021
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