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

18303 Burin Avenue Redondo Beach, CA 90278

3 Beds 2 Baths 1,170 sqft Built 1947

$895,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $764.96
  • 5 Days on Market
  • MLS # : SB21018119
  • Updated Date : 01/27/2021 at 19:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,170 sqft
  • Baths : 2 full
Listing Agent

Citi Realty

Listing Agent's Description

Good neighborhood in Redondo Beach area has Three Bedrooms and 2 full baths, a single car garage with the long drive way. Nice, clean with newer paint, huge back yard with built-in out door BBQ & sink.

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Northwest Torrance

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $187k1143k

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

Neighborhood: Northwest Torrance

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $16334464

* 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
 

$805,500$984,500$895,000

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 -$3,109
Property Tax -$867
Property Insurance -$55
Property Management Fees -$153
CASH FLOW
-$1,055

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.

$895,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.35%

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-$20k-$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$242,925

INVESTMENT

$242,925

Down Payment
$223,750
Rehab Estimate
$5,750
Closing Costs
$13,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,109

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $223,750
Loan Amount $671,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,206

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
  • $2.68

    LIST RENT PER SQFT
  • $3,106

    COMP ESTIMATED VALUE
  • $2.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,8003$3,0004$3,1305$3,350
$3,350
RENT COMPS ANALYSIS
  • 18303 Burin Avenue Redondo Beach, CA 4
    • 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $3,130
    • $2.68
    •  
  • 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
    •  
  • 4920 Cadison Street Torrance, CA 3
    • 3 beds 1 baths ∙ 1,106 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,106 Sqft ∙ Built 1954
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.71
    •  
  • 4633 W 191st Street Torrance, CA 5
    • 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1954
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.99
    •  
PROPERTY LISTING DETAILS
Chris Tran
Citi Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21018119
Last Updated: 01/27/2021
BESbswy