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23328 S Vermont Avenue Torrance, CA 90502

3 Beds 1 Baths 1,228 sqft Built 1974

$500,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $407.17
  • 20 Days on Market
  • MLS # : PV20221955
  • Updated Date : 12/28/2020 at 12:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,228 sqft
  • Baths : 1 full
Listing Agent

Vista Sotheby's International Realty

Listing Agent's Description

Welcome to Village Square - home to a quaint, move-in ready condo! Don't let the description fool you, this "condo" feels like a townhome. Enter the house from your very own, large private patio where you can enjoy your morning coffee, water your plants, or read a book. Upon entering the home, you will find original features that have been meticulously kept and are in impeccable condition. The first floor includes a kitchen, dining room, and living room with a large picture window looking out towards the patio. The bright and airy kitchen has hardwood cabinetry, and a large window over the sink that brings in natural light, and plenty of counter space. The kitchen opens directly into the dining room - perfect for all your gatherings. As you make your way towards the stairs, you will find a nook to the left which makes for a great coffee or wine bar. On the 2nd level, you will find 2 bedrooms and 1 full bath. Both bedrooms have vaulted ceilings and an abundance of space for furniture. The large primary bedroom is located on the 3rd level and feels like your very own private retreat with a large walk-in closet and master bath. The home includes air conditioning, and washer and dryer hookups conveniently located in the attached garage. Village Square is a beautiful, quiet condo complex with a shared community pool. Bring your imagination and you can make this home your very own!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Caroldale Learning Community School Primary Regular 980 40 5
Caroldale Learning Community School Middle Regular 980 40 5
Carson Senior High School High Regular 1,572 62 3

Caroldale Learning Community School

  • Education Level: Primary
  • # of students: 980
  • # of teachers: 40
5
GreatSchools Rating

Caroldale Learning Community School

  • Education Level: Middle
  • # of students: 980
  • # of teachers: 40
5
GreatSchools Rating

Carson Senior High School

  • Education Level: High
  • # of students: 1,572
  • # of teachers: 62
3
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,845
Property Tax -$552
Property Insurance -$57
HOA -$305
Property Management Fees -$128
CASH FLOW
-$276

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.

$500,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.52%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$16,906

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $2,852

    COMP ESTIMATED VALUE
  • $2.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6103$2,6504$2,8005$2,950
$2,950
RENT COMPS ANALYSIS
  • 23328 S Vermont Avenue Torrance, CA 2
    • 3 beds 1 baths ∙ 1,228 Sqft ∙ Built 1974 3 beds 1 baths ∙ 1,228 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $2.13
    •  
  • 23314 Marigold Avenue Torrance, CA 1
    • 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 1973
    property image
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.35
    •  
  • 1468 243rd Street Harbor City, CA 3
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1961
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.19
    •  
  • 21802 Archibald Avenue Carson, CA 4
    • 4 beds 1 baths ∙ 1,222 Sqft ∙ Built 1957 4 beds 1 baths ∙ 1,222 Sqft ∙ Built 1957
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.29
    •  
  • 23317 Lockness Avenue Harbor City, CA 5
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1969
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.46
    •  
PROPERTY LISTING DETAILS
Lynn Aglipay
Vista Sotheby's International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV20221955
Last Updated: 12/28/2020
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