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2215 Huntington Lane #B Redondo Beach, CA 90278

3 Beds 3 Baths 1,962 sqft Built 1984

$999,980

List Price

$4,300

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $509.67
  • 8 Days on Market
  • MLS # : PW21010737
  • Updated Date : 01/22/2021 at 17:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,962 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Fully updated and move-in ready 3 bedroom unit in Redondo. This beautiful back unit (2 on a lot) is tucked away at the back of the lot providing a private feel. The entire home has been freshly painted, inside and out and all rooms and bathrooms have been updated delivering a contemporary feel. There are two comfortable living spaces downstairs, allowing for a formal sitting area and a family room as well, or you can have an open work from home space or a home classroom. There is a dedicated dining space, an updated kitchen, a lovely fireplace and a freshly re-designed powder room as well. Upstairs there are three full sized bedrooms with cathedral ceilings, including a spacious primary suite. This lovely home has an outdoor patio that is ideal for enjoying the ocean breeze, laundry in the attached, two car garage and a lovely outdoor space. Ideally located in Redondo Beach, close to the Ocean, award winning schools and trendy restaurants and shops. This home will sell fast!

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: 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
Washington Elementary School Primary Regular 725 29 8
Adams Middle School Middle Regular 982 32 8
Redondo Union High School High Regular 2,658 102 9

Washington Elementary School

  • Education Level: Primary
  • # of students: 725
  • # of teachers: 29
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
 

$899,982$1,099,978$999,980

PURCHASE PRICE

$3,870$4,730$4,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,300
EXPENSES Loan Payment -$3,473
Property Tax -$992
Property Insurance -$74
Property Management Fees -$211
CASH FLOW
-$451

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.

$999,980

PROJECTED PRICE

$4,300

PROJECTED RENT

0.43%

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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

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

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$270,745

INVESTMENT

$270,745

Down Payment
$249,995
Rehab Estimate
$5,750
Closing Costs
$15,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,995
Loan Amount $749,985
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$37,517

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,300

    LIST RENT
  • $2.19

    LIST RENT PER SQFT
  • $4,709

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$4,250
1$4,2502$4,3003$4,5004$4,5005$4,800
$4,800
RENT COMPS ANALYSIS
  • 2215 Huntington Lane Redondo Beach, CA 2
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.19
    •  
  • 1617 Wollacott Street Redondo Beach, CA 1
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1982
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.33
    •  
  • 1739 Carver Street Redondo Beach, CA 3
    • 3 beds 3 baths ∙ 1,775 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,775 Sqft ∙ Built 1992
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.54
    •  
  • 1115 Stanford Avenue Redondo Beach, CA 4
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1989
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.42
    •  
  • 1632 Nelson Avenue Manhattan Beach, CA 5
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1968
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.31
    •  
PROPERTY LISTING DETAILS
Costanza Genoese Zerbi
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21010737
Last Updated: 01/22/2021
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