Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1740 Harper Avenue Redondo Beach, CA 90278

3 Beds 2 Baths 1,972 sqft Built 1969

$1,299,000

List Price

$4,320

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $658.72
  • 3 Days on Market
  • MLS # : 21692910
  • Updated Date : 02/12/2021 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,972 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Wonderfully remodeled home in quiet section of popular Golden Triangle neighborhood. Direct access from garage into spacious, open ground floor plan that features a bright and warm family room and dining room that flow seamlessly into cooks kitchen with stone countertops, stainless appliances and custom cabinetry. Have breakfast or happy hour on the back patio while enjoying the skyline views and cool breezes. Downstairs the reverse floorplan offers 3 bedrooms as well as a second family room with wood burning stone fireplace. This great space is perfect for a screening room, game room, kids play room or man-cave. One mile from some of California's finest beaches and Hermosa Beach Pier. Walking distance to Mira Costa High School.

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: North Redondo Beach

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $199k1143k

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

Neighborhood: North Redondo Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844464

* 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
Birney Elementary School Primary Regular 451 18 8
Adams Middle School Middle Regular 982 32 8
Redondo Union High School High Regular 2,658 102 9

Birney Elementary School

  • Education Level: Primary
  • # of students: 451
  • # of teachers: 18
8
GreatSchools Rating

Adams Middle School

  • Education Level: Middle
  • # of students: 982
  • # of teachers: 32
8
GreatSchools Rating

Redondo Union High School

  • Education Level: High
  • # of students: 2,658
  • # of teachers: 102
9
GreatSchools Rating
 

$1,169,100$1,428,900$1,299,000

PURCHASE PRICE

$3,888$4,752$4,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,320
EXPENSES Loan Payment -$4,512
Property Tax -$1,289
Property Insurance -$75
Property Management Fees -$212
CASH FLOW
-$1,767

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.

$1,299,000

PROJECTED PRICE

$4,320

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.7%
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$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,985

INVESTMENT

$349,985

Down Payment
$324,750
Rehab Estimate
$5,750
Closing Costs
$19,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,512

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $324,750
Loan Amount $974,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,320

    LIST RENT
  • $2.19

    LIST RENT PER SQFT
  • $4,600

    COMP ESTIMATED VALUE
  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$4,250
1$4,2502$4,3203$4,5004$4,5005$4,800
$4,800
RENT COMPS ANALYSIS
  • 1740 Harper Avenue Redondo Beach, CA 2
    • 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,320
    • $2.19
    •  
  • 1617 Wollacott Street Redondo Beach, CA 1
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1982
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.33
    •  
  • 1713 Goodman Avenue Redondo Beach, CA 3
    • 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1985
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.27
    •  
  • 1115 Stanford Avenue Redondo Beach, CA 4
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1989
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.42
    •  
  • 1632 Nelson Avenue Manhattan Beach, CA 5
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1968
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.31
    •  
PROPERTY LISTING DETAILS
Jesper Inglis
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21692910
Last Updated: 02/12/2021
BESbswy