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2312 Ruhland Avenue #2 Redondo Beach, CA 90278

3 Beds 2 Baths 1,704 sqft Built 1975

$825,000

List Price

$3,720

$3.5K - $4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1975
  • Price/Sqft : $484.15
  • 9 Days on Market
  • MLS # : SB20224461
  • Updated Date : 11/02/2020 at 09:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,704 sqft
  • Baths : 2 full
Listing Agent

Beach City Brokers

Listing Agent's Description

Top floor, one level home in the rear of a peaceful 4 units complex. Most spacious unit in the complex. This inviting turn-key home is bright with natural light, has vaulted ceiling and a contemporary style. Continuous upgrades show proud of ownership. Open floor plan with a living room and a fireplace, dining area, family room and a big deck off the main level, ideal to entertain, enjoy privacy and California weather. Contemporary kitchen with stone counters and newer appliances. Laundry closet inside. Wood floor laminate, carpet in bedrooms. Master bedroom has en-suite bathroom, double sink counter, walk-in closet and opens on your deck. 2 car parking spaces (side by side) in controlled access community garage, with additional storage. Enjoy a residential street, near great Redondo Beach schools, with easy access to nearby beaches, and all that this great city has to offer.

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: North Redondo Beach

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $199k1143k

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

Neighborhood: North Redondo Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844464

* 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
Madison Elementary School Primary Regular 451 18 8
Adams Middle School Middle Regular 982 32 8
Redondo Union High School High Regular 2,658 102 9

Madison Elementary School

  • Education Level: Primary
  • # of students: 451
  • # of teachers: 18
8
GreatSchools Rating

Adams Middle School

  • Education Level: Middle
  • # of students: 982
  • # of teachers: 32
8
GreatSchools Rating

Redondo Union High School

  • Education Level: High
  • # of students: 2,658
  • # of teachers: 102
9
GreatSchools Rating
 

$742,500$907,500$825,000

PURCHASE PRICE

$3,348$4,092$3,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,720
EXPENSES Loan Payment -$3,044
Property Tax -$819
Property Insurance -$68
HOA -$244
Property Management Fees -$182
CASH FLOW
-$637

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.

$825,000

PROJECTED PRICE

$3,720

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.7%
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$25k

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$224,375

INVESTMENT

$224,375

Down Payment
$206,250
Rehab Estimate
$5,750
Closing Costs
$12,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,044

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $206,250
Loan Amount $618,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$18,030

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,720

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $4,077

    COMP ESTIMATED VALUE
  • $2.39

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,7203$3,8004$4,2505$4,250
$4,250
RENT COMPS ANALYSIS
  • 2312 Ruhland Avenue Redondo Beach, CA 2
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,720
    • $2.18
    •  
  • 2206 Aviation Way Redondo Beach, CA 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1989
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.25
    •  
  • 2620 Gates Avenue Redondo Beach, CA 3
    • 3 beds 3 baths ∙ 1,552 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,552 Sqft ∙ Built 1979
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.45
    •  
  • 1617 Wollacott Street Redondo Beach, CA 4
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1982
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.33
    •  
  • 1726 Dixon Street Redondo Beach, CA 5
    • 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 1973
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.54
    •  
PROPERTY LISTING DETAILS
Manon Schiller
Beach City Brokers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20224461
Last Updated: 11/02/2020
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