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2229 W 230th Street Torrance, CA 90501

4 Beds 3 Baths 2,072 sqft Built 1948

$1,245,000

List Price

$4,010

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $600.87
  • 2 Days on Market
  • MLS # : PV21041912
  • Updated Date : 03/06/2021 at 07:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,072 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vroom Team

Listing Agent's Description

Welcome to this turnkey 4 bedroom, 2.5 bath home overflowing with desirable details! It has everything you need for relaxing at home, while also being an entertainer’s dream. The large, stylishly updated kitchen has granite countertops and tons of cupboard space. Granite countertops were recently added to all the bathrooms, and wood flooring has just been added to all the bedrooms. There’s crown molding and dual pane windows throughout. Large ceiling fans throughout the house cool you down on those warm summer days, while the fireplace adds a cozy warmth to the large and inviting family room. Just when you think you’ve seen it all, enter the huge backyard, with a gorgeous heated pool and spa, plenty of spaces to relax or socialize, and accented with papaya, kaffir lime, and even a coffee bean tree. What more could you ask for? This home is situated on a generous 8674 sq. ft. lot in a great neighborhood, close to parks, shopping, easy access to freeways, and in the award winning Torrance school district. Don’t miss this opportunity to own your personal oasis that your friends and family will love to visit!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southeast Torrance

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Southeast Torrance

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Wood Elementary School Primary Regular 366 15 7
J. H. Hull Middle School Middle Regular 711 28 6
Torrance High School High Regular 2,113 78 9

Wood Elementary School

  • Education Level: Primary
  • # of students: 366
  • # of teachers: 15
7
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
 

$1,120,500$1,369,500$1,245,000

PURCHASE PRICE

$3,609$4,411$4,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,010
EXPENSES Loan Payment -$4,324
Property Tax -$1,207
Property Insurance -$77
Property Management Fees -$196
CASH FLOW
-$1,795

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.

$1,245,000

PROJECTED PRICE

$4,010

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.2%
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$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$335,675

INVESTMENT

$335,675

Down Payment
$311,250
Rehab Estimate
$5,750
Closing Costs
$18,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,324

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $311,250
Loan Amount $933,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$251

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,010

    LIST RENT
  • $1.94

    LIST RENT PER SQFT
  • $4,310

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5003$3,7004$4,0105$4,400
$4,400
RENT COMPS ANALYSIS
  • 2229 W 230th Street Torrance, CA 4
    • 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 1948 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $4,010
    • $1.94
    •  
  • 2230 W 233rd Street Torrance, CA 1
    • 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 1968
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.97
    •  
  • 1804 Middlebrook Road Torrance, CA 2
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1948
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.01
    •  
  • 2644 W 230th Street Torrance, CA 3
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1960
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.08
    •  
  • 2662 W 230th Place Torrance, CA 5
    • 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 1965
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.26
    •  
PROPERTY LISTING DETAILS
Dustin Vroom
Vroom Team
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV21041912
Last Updated: 03/06/2021
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