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2568 Sonoma Street Torrance, CA 90503

3 Beds 1 Baths 1,465 sqft Built 1946

$1,025,000

List Price

$3,310

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $699.66
  • 2 Days on Market
  • MLS # : SB21151370
  • Updated Date : 07/12/2021 at 11:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,465 sqft
  • Baths : 1 full
Listing Agent

Manhattan Pacific Realty, Inc.

Listing Agent's Description

Welcome to 2568 Sonoma Street. Located on a beautiful oversized tree lined corner lot in Torrance Gardens. Picture living here with 3 bedrooms and 1 3/4 bathrooms. Living room with fireplace, TV/Den area, formal dining area and a large kitchen with breakfast bar. Built in 1946 with 1,465 square feet of living space on a 100 x 105 foot lot. There is a nice patio area off the kitchen with a built in BBQ and grassy side yard area. Beautiful back yard area with a sparkling pool which was completely refurbished in 2018 for $29,000. Separate potting area with tool shed. Before i forget, new Heating/AC system was installed Sept. 2014 for $10,000. Roof was replaced in Jan. 2014 for $17,500. New Leaf Filter gutter protection installed Oct. 2020 for $1,600. New 200 amp service installed in 2014. There's more, but clearly this home has been well cared for with pride and attention to detail. Trustee will be available to review offers on July 21st, so you have plenty of time to get your offer together.

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MARKET HIGHLIGHTS

  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Madrona

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Madrona

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
Fern Elementary School Primary Regular 577 22 7
Madrona Middle School Middle Regular 690 24 7
Torrance High School High Regular 2,113 78 9

Fern Elementary School

  • Education Level: Primary
  • # of students: 577
  • # of teachers: 22
7
GreatSchools Rating

Madrona Middle School

  • Education Level: Middle
  • # of students: 690
  • # of teachers: 24
7
GreatSchools Rating

Torrance High School

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

$922,500$1,127,500$1,025,000

PURCHASE PRICE

$2,979$3,641$3,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,310
EXPENSES Loan Payment -$3,560
Property Tax -$993
Property Insurance -$63
Property Management Fees -$162
CASH FLOW
-$1,468

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.

$1,025,000

PROJECTED PRICE

$3,310

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.2%
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-$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$277,375

INVESTMENT

$277,375

Down Payment
$256,250
Rehab Estimate
$5,750
Closing Costs
$15,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $256,250
Loan Amount $768,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$231

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,310

    LIST RENT
  • $2.26

    LIST RENT PER SQFT
  • $3,362

    COMP ESTIMATED VALUE
  • $2.3

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,3104$3,4505$3,500
$3,500
RENT COMPS ANALYSIS
  • 2568 Sonoma Street Torrance, CA 3
    • 3 beds 1 baths ∙ 1,465 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,465 Sqft ∙ Built 1946
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,310
    • $2.26
    •  
  • 2563 W Carson Street Torrance, CA 1
    • 3 beds 1 baths ∙ 1,278 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,278 Sqft ∙ Built 1948
    property image
    LEASED 05/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.50
    •  
  • 1734 Flower Avenue Torrance, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1963
    property image
    LEASED 05/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.13
    •  
  • 3109 W Carson Street Torrance, CA 4
    • 3 beds 1 baths ∙ 1,433 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,433 Sqft ∙ Built 1955
    property image
    LEASED 05/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.41
    •  
  • 22823 Date Ave Torrance, CA 5
    • 4 beds 1 baths ∙ 1,632 Sqft ∙ Built 1960 4 beds 1 baths ∙ 1,632 Sqft ∙ Built 1960
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.14
    •  
PROPERTY LISTING DETAILS
Ted Dodd
Manhattan Pacific Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21151370
Last Updated: 07/12/2021
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