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2202 W Paseo Del Mar San Pedro, CA 90732

4 Beds 3 Baths 2,469 sqft Built 1961

$1,299,999

List Price

$4,420

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
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.

SEE MORE

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

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
White Point Elementary School Primary Regular 409 18 8
Richard Henry Dana Middle School Middle Regular 1,528 59 2
San Pedro Senior High School High Regular 2,668 104 6

White Point Elementary School

  • Education Level: Primary
  • # of students: 409
  • # of teachers: 18
8
GreatSchools Rating

Richard Henry Dana Middle School

  • Education Level: Middle
  • # of students: 1,528
  • # of teachers: 59
2
GreatSchools Rating

San Pedro Senior High School

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

$1,169,999$1,429,999$1,299,999

PURCHASE PRICE

$3,978$4,862$4,420

RENT

DOWN PAYMENT
FINANCING

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

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$3.0M$3.5M

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$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$350,250

INVESTMENT

$350,250

Down Payment
$325,000
Rehab Estimate
$5,750
Closing Costs
$19,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,515

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $325,000
Loan Amount $974,999
See What Happens When You Reinvest Cash Flow

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
$4,100
1$4,1002$4,2003$4,3004$4,4205$4,800
$4,800
RENT COMPS ANALYSIS
  • 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
Emmitt Hayes
Hayes Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21011504
Last Updated: 01/18/2021
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