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23810 Lamour Court Torrance, CA 90501

3 Beds 1 Baths 1,694 sqft Built 1963

$949,000

List Price

$3,490

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $560.21
  • 5 Days on Market
  • MLS # : SB21037399
  • Updated Date : 02/24/2021 at 11:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,694 sqft
  • Baths : 1 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Charming ranch style home awaits! Private back yard, plenty of parking plus garage on a quiet cul-de-sac. Quiet yet close to shopping! Beautiful hardwood flooring throughout, tile in kitchen and bathrooms, entire home is freshly painted. Light-filled living room plus additional flex space/den with fireplace off kitchen. This home has that extra space! Bay window and sliding glass doors open to back yard with an awning. Kitchen sink has lovely window overlooking the back yard, plus lots of cabinets, granite tile counters, stainless steel refrigerator and dishwasher plus brand new gas range! Vinyl windows throughout. Conveniently located laundry area between kitchen and master bedroom. South facing master bedroom with shower plus two additional bedrooms that share a full bathroom in the hallway. Back yard is recently re-landscaped with mulch and plants plus has sprinkler system. Room to garden, play and relax! In Torrance Unified School District (short distance to the elementary and middle schools) and two blocks from Sur La Brea Park. Take in the sunsets from the front yard and enjoy!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

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
Adams Elementary School Primary Regular 423 16 7
J. H. Hull Middle School Middle Regular 711 28 6
Torrance High School High Regular 2,113 78 9

Adams Elementary School

  • Education Level: Primary
  • # of students: 423
  • # of teachers: 16
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
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$3,141$3,839$3,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,490
EXPENSES Loan Payment -$3,296
Property Tax -$920
Property Insurance -$68
Property Management Fees -$171
CASH FLOW
-$965

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.

$949,000

PROJECTED PRICE

$3,490

PROJECTED RENT

0.37%

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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,296

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$6,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,490

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $3,528

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2503$3,4904$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 23810 Lamour Court Torrance, CA 3
    • 3 beds 1 baths ∙ 1,694 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,694 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,490
    • $2.06
    •  
  • 1516 238th Street Harbor City, CA 1
    • 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1971
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.03
    •  
  • 1961 W 231st Street Torrance, CA 2
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1963
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.08
    •  
  • 1854 W 243rd Place Torrance, CA 4
    • 3 beds 1 baths ∙ 1,685 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,685 Sqft ∙ Built 1964
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.08
    •  
  • 2119 W 236th Street Torrance, CA 5
    • 4 beds 2 baths ∙ 1,684 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,684 Sqft ∙ Built 1965
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.14
    •  
PROPERTY LISTING DETAILS
Michelle Zabukovec
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21037399
Last Updated: 02/24/2021
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