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PROPERTY INFO
FACTS
- Single Family
- Built In 1997
- Price/Sqft : $442.75
- 3 Days on Market
- MLS # : 221000007
- Updated Date : 01/02/2021 at 13:21
CONSTRUCTION
- Beds : 3
- Floor Size : 1,773 sqft
- Baths : 3 full
Listing Agent
Engel & Voelkers, Westlake Village
Listing Agent's Description
Located behind The Cape's community gates, this charming cape cod inspired residence is in a private enclave at the top of San Pedro right at the base of Rancho Palos Verdes. Uniquely situated on an oversized lot, this is one of the few homes in the neighborhood with a spacious, grassy backyard and an additional side patio off the kitchen. Updated with exquisite taste and gorgeous finishes, the designer-appointed interiors are warm and welcoming. Upgrades abound, including wide plank engineered hardwood flooring, plantation shutter window treatments and a modern open floorplan for comfortable living. The kitchen is a chef's delight, featuring granite countertops, center island with bar stool seating, stainless steel appliances, and more! Upstairs, the grand master bedroom is light and airy with an abundance of natural light. Experience resort-style living at its finest, with nearby beaches, parks, country clubs, golf courses, fine dining and shopping. Enjoy the best of Southern California's luxury lifestyle!
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MARKET HIGHLIGHTS
- 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)
- 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)
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 | $3,220 |
| EXPENSES | Loan Payment | -$2,896 |
| Property Tax | -$792 | |
| Property Insurance | -$70 | |
| HOA | -$140 | |
| Property Management Fees | -$158 | |
|
CASH FLOW
-$836
|
||
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.
$785,000
PROJECTED PRICE
$3,220
PROJECTED RENT
0.41%
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
$213,775
LOAN DETAILS
$2,896
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $196,250 |
| Loan Amount | $588,750 |
1.33
YEARS SAVED
$6,160
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,220
LIST RENT -
$1.82
LIST RENT PER SQFT
-
$3,023
COMP ESTIMATED VALUE -
$1.71
COMP AVG. RENT PER SQFT
Comps Range
-
1556 Hyannis Lane San Pedro, CA 2
- 3 beds 3 baths ∙ 1,773 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,773 Sqft ∙ Built 1997
![property image]()
- Rent
- Rent Per SQFT
- $3,220
- $1.82
-
460 W 18th Street San Pedro, CA 1
- 4 beds 3 baths ∙ 1,625 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,625 Sqft ∙ Built 2013
![property image]()
LEASED 09/01/19- Rent
- Rent Per SQFT
- $2,800
- $1.72
-
1829 Newport Ter San Pedro, CA 3
- 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 1998
![property image]()
LEASED 07/10/20- Rent
- Rent Per SQFT
- $3,300
- $1.69
PROPERTY LISTING DETAILS
Engel & Voelkers, Westlake Village
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 221000007
Last Updated: 01/02/2021
