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2314 W 170th Street Torrance, CA 90504

3 Beds 2 Baths 1,198 sqft Built 1955

$749,000

List Price

$3,050

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $625.21
  • 4 Days on Market
  • MLS # : SB21053991
  • Updated Date : 03/18/2021 at 13:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,198 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices California Properties

Listing Agent's Description

Welcome to this lovely, clean, 3 bed/2 bath, approx 1198 sqft home (per Assessor) tucked away in a popular, quiet, Torrance neighborhood! This well maintained home with freshly painted interior and newer doors features a spacious living room filled with natural light from the oversized picture window. The dining room opens up to the living room and leads into to the galley kitchen with nook area for a quick breakfast, a light lunch or catching up on the days events while preparing dinner. There is a separate laundry room beyond the kitchen which leads to the 3/4 bath or out to the back yard. The main bedroom has direct access to the 3/4 bath and the two additional bedrooms share the full bath off of the main hallway. One bedroom (currently used as a den) has original hardwood flooring, built in shelving and a sliding glass door leading out to the back yard. The back yard is a blank canvas to make your own with room for a patio and grass area or the perfect backdrop for a succulent garden. This warm and pleasant home is in close proximity to award winning Torrance schools, popular eateries and centrally located to the 405, 91 and 110 freeways...don't miss this wonderful opportunity to make it your FOREVER HOME!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • 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)
  • 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)
  • 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)
  • 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]
  • 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)

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
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$2,602
Property Tax -$726
Property Insurance -$56
Property Management Fees -$149
CASH FLOW
-$483

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.

$749,000

PROJECTED PRICE

$3,050

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

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$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$17,917

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,050

    LIST RENT
  • $2.55

    LIST RENT PER SQFT
  • $3,037

    COMP ESTIMATED VALUE
  • $2.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0503$3,1004$3,1505$3,200
$3,200
RENT COMPS ANALYSIS
  • 2314 W 170th Street Torrance, CA 2
    • 3 beds 2 baths ∙ 1,198 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,198 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $2.55
    •  
  • 17223 Wilkie Avenue Torrance, CA 1
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1948
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.64
    •  
  • 2815 W 167th Street Torrance, CA 3
    • 3 beds 2 baths ∙ 1,193 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,193 Sqft ∙ Built 1954
    property image
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.60
    •  
  • 17223 Casimir Avenue Torrance, CA 4
    • 3 beds 1 baths ∙ 1,358 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,358 Sqft ∙ Built 1948
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.32
    •  
  • 16514 Purche Avenue Torrance, CA 5
    • 3 beds 2 baths ∙ 1,238 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,238 Sqft ∙ Built 1955
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.58
    •  
PROPERTY LISTING DETAILS
Donna Sugimoto
Berkshire Hathaway Homeservices California Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21053991
Last Updated: 03/18/2021
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