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1819 W 228th Street Torrance, CA 90501

3 Beds 2 Baths 1,280 sqft Built 1956

$715,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $558.59
  • 14 Days on Market
  • MLS # : IG20245707
  • Updated Date : 12/02/2020 at 09:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,280 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

1819 W 228th st is now on the market! This beautiful 3 bedroom 2 bath home is located in the Torrance School District and has so much potential. The home is located at the end of a street with no through traffic and provides lots of privacy. Buyers will love the main living room that features beautiful wood floors and lovely crown molding. The living room is open to the large galley kitchen with plenty of storage and counter space. The third bedroom can easily be converted into a large dining room if desired. The master bedroom has an ensuite bathroom that has been beautifully remodeled in the craftsman style that includes a large walk in shower and oversized mirrored vanity. The master also features a walk-in closet. The home sits on a 5,327 square foot lot and the backyard has lots of potential and already has hardscape in many areas. Garage has been converted into the master bath and closet and a laundry room/ storage area. Some areas of the home are unfinished, making this a great opportunity to make this home your own and get a great deal on a home in a great neighborhood! Close to plenty of shopping, dining, and recreational opportunities! Schedule a showing today!

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: Olde Torrance

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Olde Torrance

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16423697

* 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
Torrance Elementary School Primary Regular 520 20 6
J. H. Hull Middle School Middle Regular 711 28 6
Torrance High School High Regular 2,113 78 9

Torrance Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 20
6
GreatSchools Rating

J. H. Hull Middle School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 28
6
GreatSchools Rating

Torrance High School

  • Education Level: High
  • # of students: 2,113
  • # of teachers: 78
9
GreatSchools Rating
 

$643,500$786,500$715,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$2,638
Property Tax -$693
Property Insurance -$58
Property Management Fees -$153
CASH FLOW
-$412

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.

$715,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$195,225

INVESTMENT

$195,225

Down Payment
$178,750
Rehab Estimate
$5,750
Closing Costs
$10,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $178,750
Loan Amount $536,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$26,832

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,130

    LIST RENT
  • $2.45

    LIST RENT PER SQFT
  • $3,136

    COMP ESTIMATED VALUE
  • $2.45

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$2,9953$3,1304$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 1819 W 228th Street Torrance, CA 3
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,130
    • $2.45
    •  
  • 23317 Lockness Avenue Harbor City, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1969
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.46
    •  
  • 1575 Woodbury Drive Harbor City, CA 2
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1969 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1969
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.50
    •  
  • 23810 Huber Avenue Torrance, CA 4
    • 3 beds 1 baths ∙ 1,231 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,231 Sqft ∙ Built 1956
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.60
    •  
  • 2350 W 238th Street Torrance, CA 5
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1956
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.24
    •  
PROPERTY LISTING DETAILS
Charles Chacon
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20245707
Last Updated: 12/02/2020
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