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2123 Santa Cruz Court Torrance, CA 90501

3 Beds 2 Baths 1,316 sqft Built 1956

$725,000

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $550.91
  • 3 Days on Market
  • MLS # : PW21040296
  • Updated Date : 02/26/2021 at 16:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,316 sqft
  • Baths : 1 full , 1 half
Listing Agent

Berkshire Hathaway H.s.c.p.

Listing Agent's Description

Amazing opportunity on this Old Town Torrance cul-de-sac home. Other than its great location you’ll be sure to enjoy the accommodating floorplan. Living room with gas fireplace, open kitchen, bedrooms with great closet space, inside laundry area and great access to outside patio area and backyard entertaining space. The roof was redone in 2016 with a complete tear off and replaced plywood. The oversized garage with double access garage doors allows and abundance of extra space. Get ready to make this Old Town Torrance home your own. Update and design it how you want it. You are in close proximity to Torrance Park and Wilson Park which includes the sports park, batting cages and splash pad! Make sure to check out the 3D virtual tour and video to see all this home has to offer!

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: Olde Torrance

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Olde Torrance

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16423697

* 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
Torrance Elementary School Primary Regular 520 20 6
J. H. Hull Middle School Middle Regular 711 28 6
Torrance High School High Regular 2,113 78 9

Torrance Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 20
6
GreatSchools Rating

J. H. Hull Middle School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 28
6
GreatSchools Rating

Torrance High School

  • Education Level: High
  • # of students: 2,113
  • # of teachers: 78
9
GreatSchools Rating
 

$652,500$797,500$725,000

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 -$2,518
Property Tax -$703
Property Insurance -$59
Property Management Fees -$153
CASH FLOW
-$313

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.

$725,000

PROJECTED PRICE

$3,120

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$28,111

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
  • $2.37

    LIST RENT PER SQFT
  • $2,954

    COMP ESTIMATED VALUE
  • $2.25

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1003$3,1204$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 2123 Santa Cruz Court Torrance, CA 3
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $2.37
    •  
  • 1730 Fern Avenue Torrance, CA 1
    • 3 beds 1 baths ∙ 1,240 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,240 Sqft ∙ Built 1951
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.50
    •  
  • 2506 W 230th Torrance, CA 2
    • 3 beds 1 baths ∙ 1,470 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,470 Sqft ∙ Built 1960
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.11
    •  
  • 2075 W 230th Street Torrance, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1975
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.13
    •  
  • 2350 W 238th Street Torrance, CA 5
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1956
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.24
    •  
PROPERTY LISTING DETAILS
Blair Newman
Berkshire Hathaway H.s.c.p.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21040296
Last Updated: 02/26/2021
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