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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Coastal San Pedro
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$257,235
LOAN DETAILS
$3,501
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $237,250 |
| Loan Amount | $711,750 |
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
-
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
Keller Williams Pacific Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20241542
Last Updated: 11/19/2020
