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23714 Lucille Avenue Torrance, CA 90501

3 Beds 3 Baths 2,442 sqft Built 1983

$1,150,000

List Price

$3,690

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
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.

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: Southeast Torrance

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Southeast Torrance

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Wood Elementary School Primary Regular 366 15 7
J. H. Hull Middle School Middle Regular 711 28 6
Torrance High School High Regular 2,113 78 9

Wood Elementary School

  • Education Level: Primary
  • # of students: 366
  • # of teachers: 15
7
GreatSchools Rating

J. H. Hull Middle School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 28
6
GreatSchools Rating

Torrance High School

  • Education Level: High
  • # of students: 2,113
  • # of teachers: 78
9
GreatSchools Rating
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,321$4,059$3,690

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,994

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

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
$3,690
1$3,6902$3,9503$4,2004$4,2005$4,500
$4,500
RENT COMPS ANALYSIS
  • 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
Chelsea Tran
Upstart Residential, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20260937
Last Updated: 01/09/2021
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