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1939 S Leland Street San Pedro, CA 90731

3 Beds 2 Baths 1,392 sqft Built 1925

$860,000

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1925
  • Price/Sqft : $617.82
  • 4 Days on Market
  • MLS # : 210000395
  • Updated Date : 01/09/2021 at 11:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,392 sqft
  • Baths : 2 full
Listing Agent

Farnaz Arvin

Listing Agent's Description

Must see designer home. Cozy w/atmosphere. Enjoy cooking, spacious kitchen equipped w/state of the art appliances. Viking stove, subzero fridge & kitchen Aid dishwasher. Relax in a Jacuzzi bath & enjoy the splendor of newly renovated bathrooms. Outside has a spacious vegetable garden & fruit trees. Tall fence is perfect for pets & privacy. Enjoy a cup of coffee in the back or look at the ocean from front patio. Front yard is professionally landscaped. Central air & spacious one car garage w/extra storage Must see designer home welcomes you in every room. Cozy house and atmosphere where everything has its on place. Move in ready into a cute oases. Enjoy cooking in a spacious kitchen equipped with stat of the art appliances. Viking stove, subzero fridge and kitchen Aid dishwasher. Relax in a jacuzzi bathtub and enjoy the splendor of newly renovated bathrooms. The outside grounds offer a spacious vegetable garden space on one side and fruit trees on the other. The tall fence is perfect for pets as well as privacy to enjoy a cup of coffee in the back patio. Or look at the ocean from your front patio. Front yard is professionally landscaped and irrigated. Home is equipped with a center air. Property includes a spacious one car garage with extra storage space. Equipment: Dryer, Washer Other Fees: 0 Sewer: Sewer Connected Topography: GSL

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Coastal San Pedro

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $187k803k

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

Neighborhood: Coastal San Pedro

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16353365

* 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
Leland Street Elementary School Primary Regular 606 26 4
Leland Street Elementary School Middle Regular 606 26 4
San Pedro Senior High School High Regular 2,668 104 6

Leland Street Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 26
4
GreatSchools Rating

Leland Street Elementary School

  • Education Level: Middle
  • # of students: 606
  • # of teachers: 26
4
GreatSchools Rating

San Pedro Senior High School

  • Education Level: High
  • # of students: 2,668
  • # of teachers: 104
6
GreatSchools Rating
 

$774,000$946,000$860,000

PURCHASE PRICE

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$2,987
Property Tax -$882
Property Insurance -$61
Property Management Fees -$149
CASH FLOW
-$1,038

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.

$860,000

PROJECTED PRICE

$3,040

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.3%
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$233,650

INVESTMENT

$233,650

Down Payment
$215,000
Rehab Estimate
$5,750
Closing Costs
$12,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,987

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $215,000
Loan Amount $645,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,616

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,040

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $3,021

    COMP ESTIMATED VALUE
  • $2.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,8003$2,9954$3,0405$3,300
$3,300
RENT COMPS ANALYSIS
  • 1939 S Leland Street San Pedro, CA 4
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1925
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $2.18
    •  
  • 649 W 8th Street San Pedro, CA 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1911 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1911
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.06
    •  
  • 941 W 18th Street San Pedro, CA 2
    • 3 beds 1 baths ∙ 1,350 Sqft ∙ Built 1923 3 beds 1 baths ∙ 1,350 Sqft ∙ Built 1923
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.07
    •  
  • 1256 Big Canyon Place San Pedro, CA 3
    • 3 beds 1 baths ∙ 1,328 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,328 Sqft ∙ Built 1940
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.26
    •  
  • 759 W 17th Street San Pedro, CA 5
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1941
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.29
    •  
PROPERTY LISTING DETAILS
Farnaz Arvin
Farnaz Arvin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 210000395
Last Updated: 01/09/2021
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