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225 Via La Circula Redondo Beach, CA 90277

3 Beds 2 Baths 1,691 sqft Built 1950

$1,350,000

List Price

$4,320

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $798.34
  • 3 Days on Market
  • MLS # : SB21022159
  • Updated Date : 02/05/2021 at 12:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,691 sqft
  • Baths : 2 full
Listing Agent

Strand Hill Christies International Real Estate

Listing Agent's Description

A fear of commitment is – deep down – a fear of lost opportunities; the reason big decisions are difficult is because they require the rejection of every option except one. Home-buying is no different; choosing between a move-in ready home, a home that could use some upgrades or a lot on which to *build* a home is a decision every buyer must make. But not at 225 Via La Circula. With a truly enviable location in the idyllic Hollywood Riviera, this 3 bed / 2 bath home is just an 11-minute walk away from Riviera Village – and just 4 minutes further to the beach. Plus, the generous 7,863 SF lot includes an in-ground pool & spa, in addition to a detached 2-car garage. The true beauty of this home, however, is its seemingly endless potential. If you’re seeking the best value for a move-in ready home in this neighborhood, you’ve found it. If you’re looking for a home to renovate, you’ve found it. And if you’re searching for the right spot to build a dream home just steps from shopping, dining and the beach… you’ve found it. 225 Via La Circula is the choice that doesn’t force you to choose. But no matter what you choose to do with this home, the prime Hollywood Riviera location, excellent local schools, ocean breezes and South Redondo lifestyle remain. So should your next home be move-in ready, a renovation project or a new build? Yes.

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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: Riviera

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300k1400k1500kPrice in $199k1579k

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

Neighborhood: Riviera

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000420044004600Rent in $17844692

* 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
Riviera Elementary School Primary Regular 645 24 8
Edward J. Richardson Middle School Middle Regular 691 25 9
South High School High Regular 2,132 88 10

Riviera Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 24
8
GreatSchools Rating

Edward J. Richardson Middle School

  • Education Level: Middle
  • # of students: 691
  • # of teachers: 25
9
GreatSchools Rating

South High School

  • Education Level: High
  • # of students: 2,132
  • # of teachers: 88
10
GreatSchools Rating
 

$1,215,000$1,485,000$1,350,000

PURCHASE PRICE

$3,888$4,752$4,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,320
EXPENSES Loan Payment -$4,689
Property Tax -$1,274
Property Insurance -$68
Property Management Fees -$212
CASH FLOW
-$1,922

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.

$1,350,000

PROJECTED PRICE

$4,320

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$4.0M

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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,500

INVESTMENT

$363,500

Down Payment
$337,500
Rehab Estimate
$5,750
Closing Costs
$20,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,689

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $337,500
Loan Amount $1,012,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,320

    LIST RENT
  • $2.55

    LIST RENT PER SQFT
  • $4,574

    COMP ESTIMATED VALUE
  • $2.71

    COMP AVG. RENT PER SQFT
Comps Range
$4,250
1$4,2502$4,2503$4,3204$4,4005$4,500
$4,500
RENT COMPS ANALYSIS
  • 225 Via La Circula Redondo Beach, CA 3
    • 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $4,320
    • $2.55
    •  
  • 210 Paseo De Suenos Redondo Beach, CA 1
    • 3 beds 1 baths ∙ 1,626 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,626 Sqft ∙ Built 1955
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.61
    •  
  • 301 Paseo De Gracia Redondo Beach, CA 2
    • 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1948
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.41
    •  
  • 5611 Riviera Way Torrance, CA 4
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1954
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.81
    •  
  • 848 Calle De Arboles Redondo Beach, CA 5
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1948
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.99
    •  
PROPERTY LISTING DETAILS
Edward Kaminsky
Strand Hill Christies International Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21022159
Last Updated: 02/05/2021
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