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22803 Broadwell Avenue Torrance, CA 90502

3 Beds 1 Baths 1,476 sqft Built 1953

$699,900

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $474.19
  • 2 Days on Market
  • MLS # : CV20252079
  • Updated Date : 12/05/2020 at 12:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,476 sqft
  • Baths : 1 full
Listing Agent

Ortiz Homes

Listing Agent's Description

Great propery fully upgraded with newer floowing, both wood laminate and hardwood floors. Fully upgraded kitchen. Lovely entry to living room and open floor plan to family room, kitchen and dining room. Plenty of room in the back for gatherings. RV parking for all your toys(Boat, Extra vehicle, Rv, Trailer). Must see. You will not be disappointed.

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: West Carson

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $174k779k

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

Neighborhood: West Carson

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15863321

* 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
Meyler Street Elementary School Primary Regular 788 33 4
Stephen M White Middle School Middle Regular 1,656 64 5
Nathaniel Narbonne Senior High School High Regular 2,596 104 4

Meyler Street Elementary School

  • Education Level: Primary
  • # of students: 788
  • # of teachers: 33
4
GreatSchools Rating

Stephen M White Middle School

  • Education Level: Middle
  • # of students: 1,656
  • # of teachers: 64
5
GreatSchools Rating

Nathaniel Narbonne Senior High School

  • Education Level: High
  • # of students: 2,596
  • # of teachers: 104
4
GreatSchools Rating
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,582
Property Tax -$772
Property Insurance -$63
Property Management Fees -$137
CASH FLOW
-$764

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.

$699,900

PROJECTED PRICE

$2,790

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.7%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$5,254

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $2,934

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,790
1$2,7902$2,9903$3,0504$3,2005$3,295
$3,295
RENT COMPS ANALYSIS
  • 22803 Broadwell Avenue Torrance, CA 1
    • 3 beds 1 baths ∙ 1,476 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,476 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.89
    •  
  • 203 W 226th Place Carson, CA 2
    • 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1956
    property image
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.95
    •  
  • 23040 Moneta Avenue Carson, CA 3
    • 3 beds 0 baths ∙ 1,503 Sqft ∙ Built 1968 3 beds 0 baths ∙ 1,503 Sqft ∙ Built 1968
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $2.03
    •  
  • 1516 238th Street Harbor City, CA 4
    • 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.03
    •  
  • 1082 W 231st Street Torrance, CA 5
    • 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 1962
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.94
    •  
PROPERTY LISTING DETAILS
Rafael Ortiz
Ortiz Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20252079
Last Updated: 12/05/2020
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