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

2645 S Patton Avenue San Pedro, CA 90731

4 Beds 2 Baths 2,023 sqft Built 1945

$949,000

List Price

$3,530

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1945
  • Price/Sqft : $469.11
  • 4 Days on Market
  • MLS # : PW20241542
  • Updated Date : 11/19/2020 at 07:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,023 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Pacific Estate

Listing Agent's Description

Upon pulling up to this beautifully remodeled, one of a kind home you can see & feel the love that has been poured into this property! The custom details start with the spacious front patio which offers gorgeous hardscape, privacy & views coupled with fabulous landscape. Entering the home you will notice the open floorplan, pristine wood floors, wainscoting, plantation shutters, recessed lighting & beautiful built-ins. The newly remodeled kitchen, centered around the island is an entertainer’s dream, featuring abundant storage & counter space, new appliances, a wine refrigerator & soft closing custom maple cabinets. The breakfast bar flows into the family room with vaulted ceilings, built-ins, a stunning fireplace & sliding glass doors to the pool/patio area. The oversized primary bedroom offers abundant natural light, featuring vaulted ceilings & a walk in closet. Each bedroom is roomy. The 4th bedroom has been converted to a sitting area, a den or dining room. So many rooms are interchangeable! Fabulous bathrooms with frameless glass shower doors. The pulldown ladder to the attic storage is a plus! The enclosed patio is filled with bells & whistles such as tiled walls, custom doors & is a favorite place to spend time. The heated pool has a new pump as does the spa which when not in use has patio seating on it. RV parking available in the driveway which has a Class A RV in it but several cars or a boat are also a great option. So many details to share! A MUST SEE!

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: Coastal San Pedro

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $187k803k

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

Neighborhood: Coastal San Pedro

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16353365

* 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
White Point Elementary School Primary Regular 409 18 8
Richard Henry Dana Middle School Middle Regular 1,528 59 2
San Pedro Senior High School High Regular 2,668 104 6

White Point Elementary School

  • Education Level: Primary
  • # of students: 409
  • # of teachers: 18
8
GreatSchools Rating

Richard Henry Dana Middle School

  • Education Level: Middle
  • # of students: 1,528
  • # of teachers: 59
2
GreatSchools Rating

San Pedro Senior High School

  • Education Level: High
  • # of students: 2,668
  • # of teachers: 104
6
GreatSchools Rating
 

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

PURCHASE PRICE

$3,177$3,883$3,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,530
EXPENSES Loan Payment -$3,501
Property Tax -$957
Property Insurance -$76
Property Management Fees -$173
CASH FLOW
-$1,177

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

$3,530

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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$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.

$3,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,530

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $3,555

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$3,025
1$3,0252$3,3003$3,5004$3,5305$3,700
$3,700
RENT COMPS ANALYSIS
  • 2645 S Patton Avenue San Pedro, CA 4
    • 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 1945 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 1945
    • Rent
    • Rent Per SQFT
    •  
    • $3,530
    • $1.74
    •  
  • 2640 S Carolina Street San Pedro, CA 1
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1929 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1929
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,025
    • $1.51
    •  
  • 640 Bynner Drive San Pedro, CA 2
    • 3 beds 1 baths ∙ 1,806 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,806 Sqft ∙ Built 1955
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.83
    •  
  • 786 W 26th Street San Pedro, CA 3
    • 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1955 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1955
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.98
    •  
  • 2155 Baleria Drive San Pedro, CA 5
    • 3 beds 1 baths ∙ 2,160 Sqft ∙ Built 1961 3 beds 1 baths ∙ 2,160 Sqft ∙ Built 1961
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.71
    •  
PROPERTY LISTING DETAILS
Rhonda Cudeback
Keller Williams Pacific Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20241542
Last Updated: 11/19/2020
BESbswy