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18414 Patronella Avenue Torrance, CA 90504

3 Beds 1 Baths 1,525 sqft Built 1954

$769,000

List Price

$3,240

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
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

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
 

$692,100$845,900$769,000

PURCHASE PRICE

$2,916$3,564$3,240

RENT

DOWN PAYMENT
FINANCING

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

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-$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$209,535

INVESTMENT

$209,535

Down Payment
$192,250
Rehab Estimate
$5,750
Closing Costs
$11,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,671

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $192,250
Loan Amount $576,750
See What Happens When You Reinvest Cash Flow

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
$3,150
1$3,1502$3,2003$3,2404$3,4005$3,700
$3,700
RENT COMPS ANALYSIS
  • 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
Shane Falkenstein
Beach City Brokers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21009357
Last Updated: 01/15/2021
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