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18716 Van Ness Avenue Torrance, CA 90504

3 Beds 2 Baths 1,420 sqft Built 1959

$799,000

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $562.68
  • 6 Days on Market
  • MLS # : SB21031921
  • Updated Date : 02/19/2021 at 16:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,420 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Proud to present this beautiful home in the city of Torrance that is ready for its new owners. As you enter into the open and spacious living room you are greeted with recessed lighting, upgraded flooring, a wonderful accent wall with a cozy fireplace. The living room flows seamlessly into the kitchen which impresses with warm, dark cabinets, and tile flooring. The family room is connected close by and opens with a large sliding door to the spacious and serene backyard. Enjoy relaxing in the beautiful backyard and hosting family and friends for barbeques and events. Down the hallway, you will find the primary bedroom and the bathroom ensuite. This amazing room has carpet plus modern color tones and opens with a french door to the backyard. The ensuite wows with a gorgeous upgraded vanity and sink and walk-in shower. There are two additional spacious bedrooms and an upgraded bathroom nearby. The home has central air & heating system. The expanded driveway can fit 3-4 cars which would allow you to convert the garage into an array of different living functions if you so please. Also please don't forget the award winning Torrance Unified School District. Close to shopping, excellent dining, and easy access to the freeway. This home has it all!

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: Northeast Torrance

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Northeast Torrance

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16733697

* 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
Arlington Elementary School Primary Regular 565 22 8
Casimir Middle School Middle Regular 697 27 8
North High School High Regular 1,956 75 9

Arlington Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 22
8
GreatSchools Rating

Casimir Middle School

  • Education Level: Middle
  • # of students: 697
  • # of teachers: 27
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

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$2,775
Property Tax -$774
Property Insurance -$61
Property Management Fees -$153
CASH FLOW
-$644

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

$3,120

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.9%
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

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$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 60% 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

2.17

YEARS SAVED

$11,899

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,120

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $3,238

    COMP ESTIMATED VALUE
  • $2.28

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1203$3,2004$3,4005$3,600
$3,600
RENT COMPS ANALYSIS
  • 18716 Van Ness Avenue Torrance, CA 2
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $2.20
    •  
  • 18369 Van Ness Avenue Torrance, CA 1
    • 3 beds 3 baths ∙ 1,321 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,321 Sqft ∙ Built 1964
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.27
    •  
  • 2409 W 178th Street Torrance, CA 3
    • 4 beds 2 baths ∙ 1,403 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,403 Sqft ∙ Built 1955
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.28
    •  
  • 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
    •  
  • 18001 Wilton Place Torrance, CA 5
    • 4 beds 3 baths ∙ 1,472 Sqft ∙ Built 1957 4 beds 3 baths ∙ 1,472 Sqft ∙ Built 1957
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.45
    •  
PROPERTY LISTING DETAILS
Gregory Eubanks
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21031921
Last Updated: 02/19/2021
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