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

2416 W 235th Street Torrance, CA 90501

3 Beds 2 Baths 1,336 sqft Built 1962

$895,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $669.91
  • 3 Days on Market
  • MLS # : PV21008353
  • Updated Date : 01/16/2021 at 11:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,336 sqft
  • Baths : 2 full
Listing Agent

Vroom Team

Listing Agent's Description

Welcome to this wonderfully upgraded and remodeled family home in the heart of Torrance. This turnkey home features a beautiful kitchen with granite counters, wood flooring in living areas, recessed lighting, built-in sound system, smooth ceilings, crown molding and dual pane windows. All the electrical was updated in 2018, and a new water heater was installed in 2019. Enjoy the spacious rear patio, opening to a large grassy and landscaped backyard, while you relax in the jacuzzi. Close to stores, and in the award winning Torrance school district. You don’t want to miss this opportunity!

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: 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
 

$805,500$984,500$895,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$3,109
Property Tax -$867
Property Insurance -$59
Property Management Fees -$152
CASH FLOW
-$1,087

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.

$895,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.35%

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

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$242,925

INVESTMENT

$242,925

Down Payment
$223,750
Rehab Estimate
$5,750
Closing Costs
$13,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,109

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $223,750
Loan Amount $671,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,594

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $2.32

    LIST RENT PER SQFT
  • $2,849

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,730
1$2,7302$3,1003$3,1004$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 2416 W 235th Street Torrance, CA 3
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.32
    •  
  • 2214 W 239th Street Torrance, CA 1
    • 3 beds 1 baths ∙ 1,332 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,332 Sqft ∙ Built 1947
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $2.05
    •  
  • 2506 W 230th Torrance, CA 2
    • 3 beds 1 baths ∙ 1,470 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,470 Sqft ∙ Built 1960
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.11
    •  
  • 2075 W 230th Street Torrance, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1975
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.13
    •  
  • 2350 W 238th Street Torrance, CA 5
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1956
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.24
    •  
PROPERTY LISTING DETAILS
Dustin Vroom
Vroom Team
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV21008353
Last Updated: 01/16/2021
BESbswy