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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: West Carson
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$138,250
LOAN DETAILS
$1,845
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $125,000 |
| Loan Amount | $375,000 |
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
-
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
Vista Sotheby's International Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PV20221955
Last Updated: 12/28/2020
