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2243 Wanderer Drive San Pedro, CA 90732

4 Beds 3 Baths 2,905 sqft Built 1966

$1,490,000

List Price

$5,320

$5.1K - $5.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1966
  • Price/Sqft : $512.91
  • 12 Days on Market
  • MLS # : PV20223832
  • Updated Date : 11/01/2020 at 11:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,905 sqft
  • Baths : 3 full
Listing Agent

Re/max Estate Properties

Listing Agent's Description

“See the Difference” and you will in this exquisite 4 BR, 3 BA, 2900 sf South Shores home. Enter through leaded glass doors to an entry lit by a Murano glass light fixture. Once in, you are surrounded by a 180° view from ocean to Catalina with sunrise and sunset views, the same views enjoyed at the nearby Trump National Golf Course and Terranea resort, where you can also walk their trails. When inside, Brazilian cherry wood floors lead to large rooms including a gourmet kitchen with top of the line appliances and a walk-in pantry. Whether an expert or everyday chef, you will love serving meals in a breakfast room with floor to ceiling windows, dine al fresco on the outdoor patio, or break out the china for the formal dining room. No matter where you choose to dine, a stunning view will be right in front of you. All four bedrooms and even the master bath have the same incredible views. The master bedroom has sliding doors leading to a balcony and includes a walk-in closet. Other bedrooms have either walk-in features or organizers. Adjust the climate to your liking with A/C, double paned windows, and two fireplaces. PLEASE DON'T FORGET TO VIEW THE VIRTUAL TOUR

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

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
 

$1,341,000$1,639,000$1,490,000

PURCHASE PRICE

$4,788$5,852$5,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,320
EXPENSES Loan Payment -$5,497
Property Tax -$1,562
Property Insurance -$97
Property Management Fees -$261
CASH FLOW
-$2,097

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.

$1,490,000

PROJECTED PRICE

$5,320

PROJECTED RENT

0.36%

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$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

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

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$4.0M$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$400,600

INVESTMENT

$400,600

Down Payment
$372,500
Rehab Estimate
$5,750
Closing Costs
$22,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,497

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $372,500
Loan Amount $1,117,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,320

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $5,287

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$4,700
1$4,7002$4,8003$5,320
$5,320
RENT COMPS ANALYSIS
  • 2243 Wanderer Drive San Pedro, CA 3
    • 4 beds 3 baths ∙ 2,905 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,905 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $5,320
    • $1.83
    •  
  • 3536 Newridge Drive Rancho Palos Verdes, CA 1
    • 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 1973
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.77
    •  
  • 3316 Narino Drive Rancho Palos Verdes, CA 2
    • 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
Mary Miloe
Re/max Estate Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV20223832
Last Updated: 11/01/2020
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