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2244 W 236th Place Torrance, CA 90501

3 Beds 2 Baths 1,320 sqft Built 1955

$867,530

List Price

$3,190

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $657.22
  • 5 Days on Market
  • MLS # : SB21002975
  • Updated Date : 01/08/2021 at 13:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

867530.9 is the price of the house. Does that ring a bell. Sing it .. and Let me know if you what that's from!! Don't miss this Single family home in Central Torrance. It's updated kitchen is open to the dining living areas. The living room has a wood burning fireplace, and slider out to covered entertaining area, great for those fun barbecues. Yard is enclosed, perfect for the family pet, and more. The home boasts 3 bedrooms and 2 bathrooms. The master is an ensuite master, with newly remodeled bathroom. Too much to share here, a must see.

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: 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
 

$780,777$954,283$867,530

PURCHASE PRICE

$2,871$3,509$3,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,190
EXPENSES Loan Payment -$3,013
Property Tax -$850
Property Insurance -$59
Property Management Fees -$156
CASH FLOW
-$888

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.

$867,530

PROJECTED PRICE

$3,190

PROJECTED RENT

0.37%

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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$235,645

INVESTMENT

$235,645

Down Payment
$216,883
Rehab Estimate
$5,750
Closing Costs
$13,013

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,013

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $216,883
Loan Amount $650,648
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$5,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,190

    LIST RENT
  • $2.42

    LIST RENT PER SQFT
  • $2,815

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,730
1$2,7302$3,1003$3,1904$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 2244 W 236th Place Torrance, CA 3
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $2.42
    •  
  • 2214 W 239th Street Torrance, CA 1
    • 3 beds 1 baths ∙ 1,332 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,332 Sqft ∙ Built 1947
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $2.05
    •  
  • 2506 W 230th Torrance, CA 2
    • 3 beds 1 baths ∙ 1,470 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,470 Sqft ∙ Built 1960
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.11
    •  
  • 2075 W 230th Street Torrance, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1975
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.13
    •  
  • 2350 W 238th Street Torrance, CA 5
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1956
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.24
    •  
PROPERTY LISTING DETAILS
Lauren Cotner
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21002975
Last Updated: 01/08/2021
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