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17020 Ermanita Avenue Torrance, CA 90504

3 Beds 2 Baths 1,387 sqft Built 1951

$795,900

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $573.83
  • 6 Days on Market
  • MLS # : SR21037408
  • Updated Date : 02/24/2021 at 19:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,387 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Palos Verdes

Listing Agent's Description

Beautiful Turn-Key home in the highly sought after North Torrance area. This home has been completely renovated and has brand new kitchen, roof, bathrooms and additional open air patio with wood burning fireplace that overlooks the spectacular pool and custom built in island located in the backyard. This home has an attached two car garage and an additional paved driveway for two more cars and plenty of street parking. Located within walking distance to Carr Elementary school and also close proximity to the 405 Freeway. Call us to schedule a private showing today!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 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)
  • 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]
  • 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)

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
 

$716,310$875,490$795,900

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$2,764
Property Tax -$771
Property Insurance -$61
Property Management Fees -$150
CASH FLOW
-$686

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.

$795,900

PROJECTED PRICE

$3,060

PROJECTED RENT

0.38%

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$216,664

INVESTMENT

$216,664

Down Payment
$198,975
Rehab Estimate
$5,750
Closing Costs
$11,939

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $198,975
Loan Amount $596,925
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$9,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $2.21

    LIST RENT PER SQFT
  • $3,336

    COMP ESTIMATED VALUE
  • $2.41

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0603$3,1004$3,1505$3,200
$3,200
RENT COMPS ANALYSIS
  • 17020 Ermanita Avenue Torrance, CA 2
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $2.21
    •  
  • 17904 Glenburn Avenue Torrance, CA 1
    • 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
    •  
  • 2815 W 167th Street Torrance, CA 3
    • 3 beds 2 baths ∙ 1,193 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,193 Sqft ∙ Built 1954
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.60
    •  
  • 17223 Casimir Avenue Torrance, CA 4
    • 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
    •  
  • 2409 W 178th Street Torrance, CA 5
    • 4 beds 2 baths ∙ 1,403 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,403 Sqft ∙ Built 1955
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.28
    •  
PROPERTY LISTING DETAILS
Dolores Mattice
Keller Williams Palos Verdes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21037408
Last Updated: 02/24/2021
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