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20103 Tomlee Avenue Torrance, CA 90503

4 Beds 2 Baths 2,111 sqft Built 1970

$1,180,000

List Price

$4,010

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $558.98
  • 3 Days on Market
  • MLS # : SB20240224
  • Updated Date : 11/20/2020 at 07:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,111 sqft
  • Baths : 2 full
Listing Agent

Beach City Brokers

Listing Agent's Description

Pacific South Bay cul-de-sac home. Popular floorplan has one bedroom + full bath on entry level & direct access to 2 car garage. Living room has fireplace, vaulted ceilings and is open to dining area. Kitchen has granite counters, upgraded cabinetry, large pantry and is open to family room with sliding door that leads to large patio and yard. 3 bedrooms upstairs including a large main bedroom with vaulted ceilings, 12 x 10 sitting area that opens to sunny east facing sundeck + its own bathroom & vanity area. Two additional bedrooms share a full bath. Direct access from 2 car garage into house and laundry room. Dual paned windows installed throughout the house, copper plumbing & tankless water heater. All utilities are undergrounded in tract. Sunnyglen Park is 3 short blocks away, West High and Bishop Montgomery HS's are a 2 minute drive. Property needs updating, flooring, etc. Great location at south end of cul-de-sac.

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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: Pacific South Bay

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200kPrice in $199k1207k

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

Neighborhood: Pacific South Bay

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844136

* 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
Towers Elementary School Primary Regular 615 23 9
Bert M. Lynn Middle School Middle Regular 773 28 8
West High School High Regular 2,088 79 9

Towers Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 23
9
GreatSchools Rating

Bert M. Lynn Middle School

  • Education Level: Middle
  • # of students: 773
  • # of teachers: 28
8
GreatSchools Rating

West High School

  • Education Level: High
  • # of students: 2,088
  • # of teachers: 79
9
GreatSchools Rating
 

$1,062,000$1,298,000$1,180,000

PURCHASE PRICE

$3,609$4,411$4,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,010
EXPENSES Loan Payment -$4,354
Property Tax -$1,144
Property Insurance -$78
Property Management Fees -$196
CASH FLOW
-$1,762

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.

$1,180,000

PROJECTED PRICE

$4,010

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.0%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$318,450

INVESTMENT

$318,450

Down Payment
$295,000
Rehab Estimate
$5,750
Closing Costs
$17,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,354

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $295,000
Loan Amount $885,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$476

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,010

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $4,285

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$4,0003$4,0104$4,3005$4,800
$4,800
RENT COMPS ANALYSIS
  • 20103 Tomlee Avenue Torrance, CA 3
    • 4 beds 2 baths ∙ 2,111 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,111 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $4,010
    • $1.90
    •  
  • 19616 Ronald Avenue Torrance, CA 1
    • 4 beds 3 baths ∙ 1,812 Sqft ∙ Built 1956 4 beds 3 baths ∙ 1,812 Sqft ∙ Built 1956
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.10
    •  
  • 5510 Konya Drive Torrance, CA 2
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1959
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.90
    •  
  • 19933 Tomlee Avenue Torrance, CA 4
    • 4 beds 3 baths ∙ 2,111 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,111 Sqft ∙ Built 1970
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.04
    •  
  • 4910 Asteria Street Torrance, CA 5
    • 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 1962
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.08
    •  
PROPERTY LISTING DETAILS
Ross Cohan
Beach City Brokers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20240224
Last Updated: 11/20/2020
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