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18011 Elgar Avenue Torrance, CA 90504

3 Beds 1 Baths 1,183 sqft Built 1955

$789,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $666.95
  • 5 Days on Market
  • MLS # : SB20246597
  • Updated Date : 12/03/2020 at 19:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,183 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Tucked away on a quiet street in a highly desirable neighborhood of North Torrance, this welcoming single-family home checks every box for your picture-perfect family setting. You will be pleasantly surprised by how bright, airy, and open each space in this home feels. From the welcoming front yard all the way through to the large back deck and yard, this home will surely charm you. The beautifully remodeled kitchen features custom cabinets, quartz countertops, and stainless steel appliances. The living room opens to the back yard, dining room, and kitchen allowing you to enjoy the indoor/outdoor living that Southern California has to offer. All three bedrooms are very spacious and the beautifully appointed bathrooms have been recently updated. Hardwood floors, a great fireplace, a new driveway, a newer roof, and new windows top off the touches to this lovely family home which is conveniently located within walking distance to schools, near the freeway, and close to shopping. Hurry, this turn-key property won't last.

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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
Yukon Elementary School Primary Regular 309 11 8
Philip Magruder Middle School Middle Regular 588 21 8
North High School High Regular 1,956 75 9

Yukon Elementary School

  • Education Level: Primary
  • # of students: 309
  • # of teachers: 11
8
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
 

$710,100$867,900$789,000

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 -$2,911
Property Tax -$765
Property Insurance -$56
Property Management Fees -$142
CASH FLOW
-$983

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.

$789,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.37%

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

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$214,835

INVESTMENT

$214,835

Down Payment
$197,250
Rehab Estimate
$5,750
Closing Costs
$11,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,911

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $197,250
Loan Amount $591,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,543

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
  • $2.44

    LIST RENT PER SQFT
  • $2,901

    COMP ESTIMATED VALUE
  • $2.45

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8903$3,0004$3,1005$3,150
$3,150
RENT COMPS ANALYSIS
  • 18011 Elgar Avenue Torrance, CA 2
    • 3 beds 1 baths ∙ 1,183 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,183 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $2.44
    •  
  • 18422 Falda Avenue Torrance, CA 1
    • 3 beds 1 baths ∙ 1,093 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,093 Sqft ∙ Built 1953
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.47
    •  
  • 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
    •  
  • 2815 W 167th Street Torrance, CA 4
    • 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 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
Jesse Dougherty
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20246597
Last Updated: 12/03/2020
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