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PROPERTY INFO
FACTS
- Single Family
- Built In 1961
- Price/Sqft : $526.53
- 7 Days on Market
- MLS # : SB21011504
- Updated Date : 01/18/2021 at 21:36
CONSTRUCTION
- Beds : 4
- Floor Size : 2,469 sqft
- Baths : 3 full
Listing Agent
Hayes Realty
Listing Agent's Description
What a beautiful extensively remodeled mid century modern home, one block from the ocean in the lower south shore neighborhood. The entryway has vein cut marble & glass mosaic floor, designer wallpaper & crystal light fixture .The living room fireplace clad in black onyx draws you into the classic design that we love about a mid-century modern home, and presents itself on two sides. The reading room guides you into the master suite with customized walk in closets, a master bath with Carrera marble which gives this suite its clean and chic comfortability. The master bath boosts dual sinks, a separate glass shower and a Euro style tub. The open floor plan give you clear views of the custom kitchen cabinetry, an oversized “eat at” island, and a marble attache backsplash and counter tops.This sprawling floor plan shows off the porcelain plank flooring that guides you into another functional living space with a custom bar and has large walls that are perfect for large screen tv’s and gaming. The bedroom wing has two bedrooms, ample closets & full bath w/dual sinks & tub-shower. A mother in law suite with full bath is located near the laundry. Beautiful French doors open to the back yard patio with built in bench seating in the backyard for entertaining. New windows & air conditioning. There is a two car garage that you enter in from a private alley. The home is conveniently located minutes from Terranea Resort, ocean side parks, shopping and freeways.
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MARKET HIGHLIGHTS
- 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)
- 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]
PRICE & RENT TRENDS
Neighborhood: Coastal San Pedro
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Coastal San Pedro
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,420 |
| EXPENSES | Loan Payment | -$4,515 |
| Property Tax | -$1,370 | |
| Property Insurance | -$87 | |
| Property Management Fees | -$217 | |
|
CASH FLOW
-$1,769
|
||
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.
$1,299,999
PROJECTED PRICE
$4,420
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$350,250
LOAN DETAILS
$4,515
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $325,000 |
| Loan Amount | $974,999 |
0.25
YEARS SAVED
$619
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,420
LIST RENT -
$1.79
LIST RENT PER SQFT
-
$4,389
COMP ESTIMATED VALUE -
$1.78
COMP AVG. RENT PER SQFT
Comps Range
-
2202 W Paseo Del Mar San Pedro, CA 4
- 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 1961
- Rent
- Rent Per SQFT
- $4,420
- $1.79
-
3612 Barbara Street San Pedro, CA 1
- 3 beds 3 baths ∙ 2,393 Sqft ∙ Built 1961 3 beds 3 baths ∙ 2,393 Sqft ∙ Built 1961
LEASED 08/30/19- Rent
- Rent Per SQFT
- $4,100
- $1.71
-
1524 W 5th Street San Pedro, CA 2
- 4 beds 2 baths ∙ 2,376 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,376 Sqft ∙ Built 1979
LEASED 01/15/21- Rent
- Rent Per SQFT
- $4,200
- $1.77
-
2439 Rue Le Charlene Rancho Palos Verdes, CA 3
- 4 beds 2 baths ∙ 2,448 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,448 Sqft ∙ Built 1969
LEASED 12/20/19- Rent
- Rent Per SQFT
- $4,300
- $1.76
-
3316 Narino Drive Rancho Palos Verdes, CA 5
- 4 beds 2 baths ∙ 2,570 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,570 Sqft ∙ Built 1961
LEASED 07/22/20- Rent
- Rent Per SQFT
- $4,800
- $1.87
PROPERTY LISTING DETAILS
Hayes Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB21011504
Last Updated: 01/18/2021
