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PROPERTY INFO
FACTS
- Single Family
- Built In 1983
- Price/Sqft : $470.93
- 6 Days on Market
- MLS # : OC20260937
- Updated Date : 01/09/2021 at 19:11
CONSTRUCTION
- Beds : 3
- Floor Size : 2,442 sqft
- Baths : 3 full
Listing Agent
Upstart Residential, Inc
Listing Agent's Description
This newly remodeled Mid-City home offers a warm welcome with an open floor plan, vaulted wood beam ceilings and custom light fixtures for a fresh finish and style. This 3 bedrooms, 3 bath house, approx. 2442 sqft., includes central AC, recessed lighting throughout, dual paned windows offering an abundance of natural light all while reducing outside noise. Step into the kitchen and you'll find brand-new stainless-steel kitchen appliances, alluring stone countertops, wet bar, wine storage and a center island perfect for entertaining and hosting your next gathering. The master bedroom suite offers beautiful dual vanity sinks in the master bath, a soaking tub and separate decorative stone shower to create a relaxing ambiance. Also equipped with a private driveway leading up to a 2-car garage for security and privacy. Neighborhood is very walkable, central to neighborhood parks, schools, shopping plazas, restaurants and more.
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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: Southeast Torrance
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Southeast Torrance
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,690 |
| EXPENSES | Loan Payment | -$3,994 |
| Property Tax | -$1,127 | |
| Property Insurance | -$86 | |
| Property Management Fees | -$181 | |
|
CASH FLOW
-$1,698
|
||
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.
$1,150,000
PROJECTED PRICE
$3,690
PROJECTED RENT
0.32%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| 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
$310,500
LOAN DETAILS
$3,994
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $287,500 |
| Loan Amount | $862,500 |
0.17
YEARS SAVED
$182
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,690
LIST RENT -
$1.51
LIST RENT PER SQFT
-
$4,072
COMP ESTIMATED VALUE -
$1.67
COMP AVG. RENT PER SQFT
Comps Range
-
23714 Lucille Avenue Torrance, CA 1
- 3 beds 3 baths ∙ 2,442 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,442 Sqft ∙ Built 1983
![property image]()
- Rent
- Rent Per SQFT
- $3,690
- $1.51
-
2314 W 239th Street Torrance, CA 2
- 4 beds 2 baths ∙ 2,623 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,623 Sqft ∙ Built 1979
![property image]()
LEASED 08/02/19- Rent
- Rent Per SQFT
- $3,950
- $1.51
-
2335 Santa Cruz Court Torrance, CA 3
- 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 1977
![property image]()
LEASED 09/06/19- Rent
- Rent Per SQFT
- $4,200
- $1.61
-
2317 Santa Fe Avenue Torrance, CA 4
- 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 1977
![property image]()
LEASED 09/05/20- Rent
- Rent Per SQFT
- $4,200
- $1.81
-
2755 W 234th Street Torrance, CA 5
- 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1965
![property image]()
LEASED 01/17/20- Rent
- Rent Per SQFT
- $4,500
- $1.74
PROPERTY LISTING DETAILS
Upstart Residential, Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20260937
Last Updated: 01/09/2021
