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17003 Falda Avenue Torrance, CA 90504

3 Beds 2 Baths 1,427 sqft Built 1948

$899,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $629.99
  • 25 Days on Market
  • MLS # : SB20236210
  • Updated Date : 12/01/2020 at 12:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,427 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

NEW PRICE.....This quintessential North Torrance home has been meticulously remodeled with quality in mind and modern touches throughout. Move-in condition! Offering 1427 square feet of living space, 3 bedrooms, 2 bathrooms PLUS an approx 500 sqft with a 3/4 bath with its own entry and privacy. The home rests slightly elevated on a large corner lot of nearly 7,000 square feet with hard to find gated RV or Boat parking/storage area measuring 36 feet long by 13 feet wide. New dual pane Milgard windows and interior casing throughout, new front door with privacy glass and new interior doors with new molding throughout. The kitchen features a new beautiful oversized-tile floor with granite countertops, reverse osmosis water filtration with new cabinets and appliances. Both bathrooms have been modernized with sliding-glass shower doors, new tile flooring and vanities. New modern hardware throughout, 3 new wall heaters, freshly painted interior and exterior trim, crown moldings, recessed LED lighting with dimmers and new outlets throughout, and new laminate flooring throughout the main living areas and bedrooms. Direct access from garage and new WIFI garage door opener. The light and bright family room features a fireplace and large sliding glass doors that open to the covered patio and lovely backyard perfect for your morning coffee. Conveniently located to shopping, freeways and Torrance Unified Schools. Come quick, this one won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Northwest Torrance

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $187k779k

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

Neighborhood: Northwest Torrance

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16333321

* 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
Carr Elementary School Primary Regular 351 14 6
Philip Magruder Middle School Middle Regular 588 21 8
North High School High Regular 1,956 75 9

Carr Elementary School

  • Education Level: Primary
  • # of students: 351
  • # of teachers: 14
6
GreatSchools Rating

Philip Magruder Middle School

  • Education Level: Middle
  • # of students: 588
  • # of teachers: 21
8
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 1,956
  • # of teachers: 75
9
GreatSchools Rating
 

$809,100$988,900$899,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$3,317
Property Tax -$871
Property Insurance -$62
Property Management Fees -$151
CASH FLOW
-$1,321

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.

$899,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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

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$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$453

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $3,221

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9503$3,0004$3,0805$3,150
$3,150
RENT COMPS ANALYSIS
  • 17003 Falda Avenue Torrance, CA 4
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $2.16
    •  
  • 18007 Elgar Avenue Torrance, CA 1
    • 3 beds 2 baths ∙ 1,294 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,294 Sqft ∙ Built 1955
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.16
    •  
  • 2310 W 171st Street Torrance, CA 2
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1956
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.13
    •  
  • 17904 Glenburn Avenue Torrance, CA 3
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1955
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.42
    •  
  • 17223 Casimir Avenue Torrance, CA 5
    • 3 beds 1 baths ∙ 1,358 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,358 Sqft ∙ Built 1948
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.32
    •  
PROPERTY LISTING DETAILS
Ornella Green
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20236210
Last Updated: 12/01/2020
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