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2101 Vanderbilt Lane #2 Redondo Beach, CA 90278

3 Beds 2 Baths 1,296 sqft Built 1981

$749,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $577.93
  • 4 Days on Market
  • MLS # : PV21039086
  • Updated Date : 02/26/2021 at 11:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,296 sqft
  • Baths : 2 full
Listing Agent

Simonetti & Associates

Listing Agent's Description

Welcome to 2101 Vanderbilt Lane #2 in Redondo Beach. This light and bright condo consists of 3 BDR/2 BA with 1296 sq. ft. of living space. There is also a bonus room (not included in sq. ft.) next to the garage that can be used as a home office, or for storage. This condo has just been updated and remodeled with new paint throughout; new recessed lighting in the kitchen; new kitchen cabinet fixtures and dishwasher; new lighting, fixtures, and mirrors in the bathrooms; new locks and door hardware throughout; new window treatments throughout; new carpet upstairs and on the stairwell. This is a great opportunity to purchase and move right into your new place in Redondo Beach. The location is close to shopping, dining, parks, Birney Elementary and Adams Middle schools, the beach of course, and everything else the city of Redondo Beach has to offer. Priced at $749,000.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Redondo Beach

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $199k1143k

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

Neighborhood: North Redondo Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844464

* 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
Birney Elementary School Primary Regular 451 18 8
Adams Middle School Middle Regular 982 32 8
Redondo Union High School High Regular 2,658 102 9

Birney Elementary School

  • Education Level: Primary
  • # of students: 451
  • # of teachers: 18
8
GreatSchools Rating

Adams Middle School

  • Education Level: Middle
  • # of students: 982
  • # of teachers: 32
8
GreatSchools Rating

Redondo Union High School

  • Education Level: High
  • # of students: 2,658
  • # of teachers: 102
9
GreatSchools Rating
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$2,602
Property Tax -$743
Property Insurance -$58
HOA -$260
Property Management Fees -$152
CASH FLOW
-$715

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.

$749,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.7%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,551

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $3,580

    COMP ESTIMATED VALUE
  • $2.76

    COMP AVG. RENT PER SQFT
Comps Range
$3,050
1$3,0502$3,1003$3,3004$3,5005$3,800
$3,800
RENT COMPS ANALYSIS
  • 2101 Vanderbilt Lane Redondo Beach, CA 2
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.39
    •  
  • 1735 Axenty Way Redondo Beach, CA 1
    • 3 beds 2 baths ∙ 1,026 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,026 Sqft ∙ Built 1962
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $2.97
    •  
  • 1706 Speyer Lane Redondo Beach, CA 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1969
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.36
    •  
  • 2514 Mathews Avenue Redondo Beach, CA 4
    • 3 beds 3 baths ∙ 1,433 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,433 Sqft ∙ Built 1984
    LEASED 02/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.44
    •  
  • 1720 Wollacott Street Redondo Beach, CA 5
    • 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1962
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.28
    •  
PROPERTY LISTING DETAILS
Brent Humber
Simonetti & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV21039086
Last Updated: 02/26/2021
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