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PROPERTY INFO
FACTS
- Single Family
- Built In 1954
- Price/Sqft : $504.26
- 3 Days on Market
- MLS # : SB21009357
- Updated Date : 01/15/2021 at 17:46
CONSTRUCTION
- Beds : 3
- Floor Size : 1,525 sqft
- Baths : 1 full
Listing Agent
Beach City Brokers
Listing Agent's Description
Great Value In Desirable North Torrance Neighborhood! Turn-key house that you can move right in to without lifting a finger. Kitchen and baths have been refreshed and are ready to go. All new appliances in the kitchen. Freshly painted and new flooring throughout. Good bones with New Heating & AC, new roof, and copper and ABS plumbing. Large kitchen, formal dining room, huge master suite, and living room with fireplace. Attached 2 car garage. Large lot with great backyard space. Solid house at a great price, that won't last long!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northwest Torrance
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,240 |
| EXPENSES | Loan Payment | -$2,671 |
| Property Tax | -$745 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$159 | |
|
CASH FLOW
-$399
|
||
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.
$769,000
PROJECTED PRICE
$3,240
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$209,535
LOAN DETAILS
$2,671
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $192,250 |
| Loan Amount | $576,750 |
3.58
YEARS SAVED
$24,954
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,240
LIST RENT -
$2.12
LIST RENT PER SQFT
-
$3,389
COMP ESTIMATED VALUE -
$2.22
COMP AVG. RENT PER SQFT
Comps Range
-
18414 Patronella Avenue Torrance, CA 3
- 3 beds 1 baths ∙ 1,525 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,525 Sqft ∙ Built 1954
- Rent
- Rent Per SQFT
- $3,240
- $2.12
-
17223 Casimir Avenue Torrance, CA 1
- 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
-
3601 W 182nd Street Torrance, CA 2
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1953
LEASED 06/04/20- Rent
- Rent Per SQFT
- $3,200
- $2.13
-
2108 W 183rd Street Torrance, CA 4
- 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1962
LEASED 05/01/20- Rent
- Rent Per SQFT
- $3,400
- $2.13
-
3834 W 181st Street Torrance, CA 5
- 4 beds 2 baths ∙ 1,598 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,598 Sqft ∙ Built 1963
LEASED 04/23/20- Rent
- Rent Per SQFT
- $3,700
- $2.32
PROPERTY LISTING DETAILS
Beach City Brokers
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB21009357
Last Updated: 01/15/2021
