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2827 Alberta Street Torrance, CA 90501

4 Beds 4 Baths 2,629 sqft Built 1950

$1,040,000

List Price

$3,940

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $395.59
  • 3 Days on Market
  • MLS # : SW20255838
  • Updated Date : 12/12/2020 at 13:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,629 sqft
  • Baths : 4 full
Listing Agent

Farnam & Associates Real Estate

Listing Agent's Description

2ND FLOOR 3 MASTER BEDROOMS WITH BATHS AND SPA JET TUB IN MAIN MASTER BATH BEDROOM. MAIN FLOOR 1 BEDROOM, 1 FULL BATH, GUEST ROOM OR OFFICE WITH KITCHEN, FRONT LIVING ROOM, KITCHEN, FAMILY ROOM WITH SECOND SIDE ENTRANCE. DRIVEWAY IS GATED AND CAN BE USED FOR RV.

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MARKET HIGHLIGHTS

  • 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)
  • 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: Olde Torrance

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Olde Torrance

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16423697

* 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
Torrance Elementary School Primary Regular 520 20 6
J. H. Hull Middle School Middle Regular 711 28 6
Torrance High School High Regular 2,113 78 9

Torrance Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 20
6
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
 

$936,000$1,144,000$1,040,000

PURCHASE PRICE

$3,546$4,334$3,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,940
EXPENSES Loan Payment -$3,837
Property Tax -$1,008
Property Insurance -$91
Property Management Fees -$193
CASH FLOW
-$1,189

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.

$1,040,000

PROJECTED PRICE

$3,940

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.0%
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-$10k$0.0$10k$20k

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$281,350

INVESTMENT

$281,350

Down Payment
$260,000
Rehab Estimate
$5,750
Closing Costs
$15,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,837

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $260,000
Loan Amount $780,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$6,074

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,940

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $3,891

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$3,495
1$3,4952$3,5003$3,8004$3,940
$3,940
RENT COMPS ANALYSIS
  • 2827 Alberta Street Torrance, CA 4
    • 4 beds 4 baths ∙ 2,629 Sqft ∙ Built 1950 4 beds 4 baths ∙ 2,629 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,940
    • $1.50
    •  
  • 23340 Brightwater Place Harbor City, CA 1
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1969
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.49
    •  
  • 924 245th Street Harbor City, CA 2
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 1965
    property image
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.50
    •  
  • 2231 W 237th Street Torrance, CA 3
    • 3 beds 3 baths ∙ 2,613 Sqft ∙ Built 1955 3 beds 3 baths ∙ 2,613 Sqft ∙ Built 1955
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.45
    •  
PROPERTY LISTING DETAILS
Carlos Ollervides
Farnam & Associates Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20255838
Last Updated: 12/12/2020
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