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2313 W 161st Street Torrance, CA 90504

4 Beds 2 Baths 1,478 sqft Built 1956

$738,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1956
  • Price/Sqft : $499.32
  • 12 Days on Market
  • MLS # : TR20224921
  • Updated Date : 11/01/2020 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,478 sqft
  • Baths : 2 full
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

Welcome home to this quiet North Torrance neighborhood! This sweet home features 4 bedrooms and 2 bathrooms. Spacious living room with fireplace. Lots of storage in each room. Original hardwood floor. Freshly painted interior. Dual pane windows. Adorable backyard with fruit trees. Major shopping centers and a variety of restaurants nearby. Easy access to major freeways and connectors. Torrance Unified School District with outstanding scores.

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: Northeast Torrance

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Northeast Torrance

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16733697

* 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
Lincoln Elementary School Primary Regular 436 17 8
Casimir Middle School Middle Regular 697 27 8
North High School High Regular 1,956 75 9

Lincoln Elementary School

  • Education Level: Primary
  • # of students: 436
  • # of teachers: 17
8
GreatSchools Rating

Casimir Middle School

  • Education Level: Middle
  • # of students: 697
  • # of teachers: 27
8
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 1,956
  • # of teachers: 75
9
GreatSchools Rating
 

$664,200$811,800$738,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,723
Property Tax -$715
Property Insurance -$63
Property Management Fees -$157
CASH FLOW
-$458

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.

$738,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,320

INVESTMENT

$201,320

Down Payment
$184,500
Rehab Estimate
$5,750
Closing Costs
$11,070

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,723

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $184,500
Loan Amount $553,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$25,140

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $2.17

    LIST RENT PER SQFT
  • $3,385

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9953$3,1004$3,2005$3,350
$3,350
RENT COMPS ANALYSIS
  • 2313 W 161st Street Torrance, CA 4
    • 4 beds 2 baths ∙ 1,478 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,478 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.17
    •  
  • 2305 W 161st Street Torrance, CA 1
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1956
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.17
    •  
  • 16422 Haas Avenue Torrance, CA 2
    • 3 beds 1 baths ∙ 1,324 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,324 Sqft ∙ Built 1950
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.26
    •  
  • 16507 Manhattan Place Gardena, CA 3
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1947
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.35
    •  
  • 15232 Arcturus Avenue Gardena, CA 5
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1940
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.38
    •  
PROPERTY LISTING DETAILS
Shirley Lee
T.n.g. Real Estate Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20224921
Last Updated: 11/01/2020
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