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2602 W 230th Street Torrance, CA 90505

3 Beds 1 Baths 1,866 sqft Built 1961

$1,100,000

List Price

$3,770

$3.5K - $4K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $589.50
  • 3 Days on Market
  • MLS # : PV21030082
  • Updated Date : 02/12/2021 at 17:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,866 sqft
  • Baths : 1 full
Listing Agent

Re/max Estate Properties

Listing Agent's Description

This beautifully maintained over 1800 square feet one level home on a large lot is located in the highly desirable Hickory Park Neighborhood. Open and bright Large living room with fireplace with sliding glass door looking out to the beautiful and large back yard. Spacious kitchen adjacent to the dining area. Three bedrooms plus a den, two bathrooms. Master bedroom with own bath. 2 car garage. An absolute must see.

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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: Marble Estates

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $199k1154k

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

Neighborhood: Marble Estates

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844161

* 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
Hickory Elementary School Primary Regular 913 36 8
Madrona Middle School Middle Regular 690 24 7
Torrance High School High Regular 2,113 78 9

Hickory Elementary School

  • Education Level: Primary
  • # of students: 913
  • # of teachers: 36
8
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
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,393$4,147$3,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,770
EXPENSES Loan Payment -$3,821
Property Tax -$1,066
Property Insurance -$72
Property Management Fees -$185
CASH FLOW
-$1,374

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.

$1,100,000

PROJECTED PRICE

$3,770

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.3%
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$15k

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$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,476

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,770

    LIST RENT
  • $2.02

    LIST RENT PER SQFT
  • $3,634

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,495
1$3,4952$3,5003$3,6004$3,7705$3,800
$3,800
RENT COMPS ANALYSIS
  • 2602 W 230th Street Torrance, CA 4
    • 3 beds 1 baths ∙ 1,866 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,866 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $3,770
    • $2.02
    •  
  • 2366 W 230th Street Torrance, CA 1
    • 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 1958
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.96
    •  
  • 2256 W 232nd Street Torrance, CA 2
    • 4 beds 2 baths ∙ 1,971 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,971 Sqft ∙ Built 1974
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.78
    •  
  • 2119 W 236th Street Torrance, CA 3
    • 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
    •  
  • 2311 Sepulveda Way Torrance, CA 5
    • 4 beds 2 baths ∙ 1,989 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,989 Sqft ∙ Built 1977
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.91
    •  
PROPERTY LISTING DETAILS
Shar Farrokhsiar
Re/max Estate Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV21030082
Last Updated: 02/12/2021
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