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23046 Anza Avenue Torrance, CA 90505

4 Beds 1 Baths 1,590 sqft Built 1960

$919,000

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $577.99
  • 2 Days on Market
  • MLS # : SB20230830
  • Updated Date : 11/02/2020 at 16:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,590 sqft
  • Baths : 1 full
Listing Agent

The Realestate Group

Listing Agent's Description

Excellent South Torrance neighborhood for this 4 bedroom fixer. Near Seaside Hero's Park. Newer roof, A/C, electrical, and walk-in bathtub. Upgraded windows and doors. Central patio model that is accessible from primary bedroom, dining room, and living room. Attached double car garage.

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: Southwood Riviera

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $199k970k

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

Neighborhood: Southwood Riviera

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17843818

* 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
Arnold Elementary School Primary Regular 733 29 8
Calle Mayor Middle School Middle Regular 770 29 8
South High School High Regular 2,132 88 10

Arnold Elementary School

  • Education Level: Primary
  • # of students: 733
  • # of teachers: 29
8
GreatSchools Rating

Calle Mayor Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 29
8
GreatSchools Rating

South High School

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

$827,100$1,010,900$919,000

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$3,391
Property Tax -$891
Property Insurance -$66
Property Management Fees -$186
CASH FLOW
-$733

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.

$919,000

PROJECTED PRICE

$3,800

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.8%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$249,285

INVESTMENT

$249,285

Down Payment
$229,750
Rehab Estimate
$5,750
Closing Costs
$13,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,391

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $229,750
Loan Amount $689,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$20,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,800

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $3,760

    COMP ESTIMATED VALUE
  • $2.37

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,7003$3,7004$3,8005$3,850
$3,850
RENT COMPS ANALYSIS
  • 23046 Anza Avenue Torrance, CA 4
    • 4 beds 1 baths ∙ 1,590 Sqft ∙ Built 1960 4 beds 1 baths ∙ 1,590 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.39
    •  
  • 4818 Newton Street Torrance, CA 1
    • 3 beds 1 baths ∙ 1,449 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,449 Sqft ∙ Built 1954
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.35
    •  
  • 4720 Pacific Coast Torrance, CA 2
    • 3 beds 1 baths ∙ 1,553 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,553 Sqft ∙ Built 1953
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.38
    •  
  • 22330 Marjorie Avenue Torrance, CA 3
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1953
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.19
    •  
  • 4002 W 234th Street Torrance, CA 5
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1961
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.54
    •  
PROPERTY LISTING DETAILS
Derf Fredericks
The Realestate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20230830
Last Updated: 11/02/2020
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