Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1926
- Price/Sqft : $690.48
- 3 Days on Market
- MLS # : SB20259772
- Updated Date : 12/18/2020 at 18:48
CONSTRUCTION
- Beds : 3
- Floor Size : 1,050 sqft
- Baths : 2 full
Listing Agent
Redfin Corporation
Listing Agent's Description
Don't let the street name fool you....this is set BEHIND the home on Carson St. w/entrance on the wide and quiet alley way! Unbelievably CHARMING 1920's Beach Cottage w/modern upgrades throughout! From the moment you step onto the Trex patio to enter your quaint getaway, you will be surprised at the amount of space they have fit into this home. Luxury vinyl gray floors throughout with 2 large en suite bedrooms & two full bathrooms inside PLUS a recently remodeled ADU w/full bathroom and kitchenette. The living room boasts cathedral open beam ceilings to bring in a flood of light with it's open concept kitchen and well appointed space of custom soft close drawers/cabinets, Stainless appliances (w/built in microwave), Quartz counter tops and Arabesque mosaic tile backsplash, double sink adorned w/charming fixtures and lighting. You also have an enclosed patio for an awesome bonus space for office, den, gym or kids play room as it leads out to the large back yard. When you enter the back yard, you'll see 2 structures to the right, the back one is a laundry room and storage space and front is a newly remodeled 1 bedroom ADU with quartz counter tops, luxury vinyl flooring, modern updates throughout. You also have an oversized one car garage and parking spot in front of the home. Other upgrades include newer exterior siding around home, newer roof, newer forced air heater...Enjoy walks throughout Old Torrance, close to restaurants, shops, and award winning Torrance schools
SEE MORE
MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Olde Torrance
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Olde Torrance
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,050 |
| EXPENSES | Loan Payment | -$2,675 |
| Property Tax | -$703 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$149 | |
|
CASH FLOW
-$530
|
||
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.
$725,000
PROJECTED PRICE
$3,050
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 5.0% |
| 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
$197,875
LOAN DETAILS
$2,675
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $181,250 |
| Loan Amount | $543,750 |
2.75
YEARS SAVED
$18,903
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,050
LIST RENT -
$2.9
LIST RENT PER SQFT
-
$3,029
COMP ESTIMATED VALUE -
$2.89
COMP AVG. RENT PER SQFT
Comps Range
-
2409 W Carson Street Torrance, CA 2
- 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1926
![property image]()
- Rent
- Rent Per SQFT
- $3,050
- $2.90
-
1614 W 213th Street Torrance, CA 1
- 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1943 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1943
![property image]()
LEASED 09/27/19- Rent
- Rent Per SQFT
- $2,800
- $2.78
-
2032 Andreo Avenue Torrance, CA 3
- 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1926 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1926
![property image]()
LEASED 08/07/20- Rent
- Rent Per SQFT
- $3,200
- $2.91
-
1617 Amapola Avenue Torrance, CA 4
- 3 beds 1 baths ∙ 1,064 Sqft ∙ Built 1927 3 beds 1 baths ∙ 1,064 Sqft ∙ Built 1927
![property image]()
LEASED 06/01/20- Rent
- Rent Per SQFT
- $3,250
- $3.05
-
1551 W 221st Street Torrance, CA 5
- 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1937 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1937
![property image]()
LEASED 09/04/20- Rent
- Rent Per SQFT
- $3,500
- $2.80
PROPERTY LISTING DETAILS
Redfin Corporation
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB20259772
Last Updated: 12/18/2020
