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18111 Amie Avenue Torrance, CA 90504

3 Beds 1 Baths 1,216 sqft Built 1954

$799,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $657.07
  • 3 Days on Market
  • MLS # : SB21028434
  • Updated Date : 02/20/2021 at 11:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,216 sqft
  • Baths : 1 full
Listing Agent

3 Leaf Realty Inc

Listing Agent's Description

Welcome home to this 3 Bedroom 2 Bathroom California Bungalow on a HUGE lot. Situated on a quiet street in North Torrance, there is enough parking for two cars inside the oversized detached garage, and 3-4 cars outside + room for an RV + Boat + Toy Hauler and you still have a front yard. Enjoy outdoor dining and entertaining in your private park-like backyard with a patio, " She- Shed" , and garden shed in back of the lot. Plenty of and room to add a pool or ADU. The galley kitchen has newer stainless appliances, new laminate flooring and a deck that leads to the backyard. Recent updates include, freshly painted exterior, refinished hardwood floors, newer roof, tankless water heater, and dual pane windows. Conveniently located near shopping, restaurants, easy access to the freeway, minutes to the beach, and great Torrance Schools! You will not find a better value for such a great home with this size lot and it won't last long! Check out the virtual tour - http://sites.southbaypics.com/18111amieavenue/?mls

SEE MORE

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)
  • 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]
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (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'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 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
Edison Elementary School Primary Regular 528 20 8
Philip Magruder Middle School Middle Regular 588 21 8
North High School High Regular 1,956 75 9

Edison Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 20
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
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,775
Property Tax -$774
Property Insurance -$57
Property Management Fees -$141
CASH FLOW
-$867

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.

$799,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.36%

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$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $2.37

    LIST RENT PER SQFT
  • $2,912

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,8003$2,8804$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 18111 Amie Avenue Torrance, CA 3
    • 3 beds 1 baths ∙ 1,216 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,216 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $2.37
    •  
  • 4175 W 182nd Torrance, CA 1
    • 3 beds 2 baths ∙ 1,099 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,099 Sqft ∙ Built 1958
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.37
    •  
  • 18104 Regina Avenue Torrance, CA 2
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1950
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.55
    •  
  • 17904 Glenburn Avenue Torrance, CA 4
    • 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
    •  
  • 4332 W 178th Street Torrance, CA 5
    • 3 beds 1 baths ∙ 1,431 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,431 Sqft ∙ Built 1950
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.24
    •  
PROPERTY LISTING DETAILS
Susan Jones
3 Leaf Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21028434
Last Updated: 02/20/2021
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