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PROPERTY INFO
FACTS
- Single Family
- Built In 1952
- Price/Sqft : $656.51
- 3 Days on Market
- MLS # : SB21032504
- Updated Date : 02/20/2021 at 11:01
CONSTRUCTION
- Beds : 3
- Floor Size : 1,674 sqft
- Baths : 2 full , 1 half
Listing Agent
Beach City Brokers
Listing Agent's Description
Step inside this fully updated, move-in ready Walteria home. Prepare to be amazed by the amount of natural light that floods the beautifully remodeled kitchen & living area. Enjoy vaulted ceilings, recessed lighting, solar-powered skylight, custom African mahogany island, Silestone quartz countertops, custom oversized pantry, high-end kitchen appliances, a 36" copper sink w Kohler hardware, Kohler designer pot filler, Milgard Tuscany french doors & windows, custom window shades & German-engineered laminate flooring. This 3 bdrm, 3 bath home includes a stunning master suite w vaulted ceilings, recessed lights, Milgard Tuscany oversized windows & custom window shades. The master bath showcases a quartz vanity countertop, custom frameless shower w quartz bench, marble niche, Italian floor tile, Grohe 3-way shower valve w/ 3 shower fixtures including rainfall & wi-fi capable heated floors. Not to be missed is the master's dreamy walk-in closet w Container Store built-ins that are sure to impress. Another bonus feature is the den/office area w a fireplace. The home has integrated smart house elements - August Smart Lock, Skybell video doorbell, wifi enabled sprinkler system, Ecobee thermostats w 3-Zone central AC & heat. A new water heater & freshly reseeded, spacious, private & relaxing backyard retreat are the icing on the cake. Located in South Torrance’s desirable Walteria neighborhood close to schools, shopping & parks. This turn-key gem & superb location is not to be missed!
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MARKET HIGHLIGHTS
- 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)
- 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]
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
PRICE & RENT TRENDS
Neighborhood: Walteria
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Walteria
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,670 |
| EXPENSES | Loan Payment | -$3,817 |
| Property Tax | -$1,065 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$180 | |
|
CASH FLOW
-$1,460
|
||
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.
$1,099,000
PROJECTED PRICE
$3,670
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 8.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| 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
$296,985
LOAN DETAILS
$3,817
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $274,750 |
| Loan Amount | $824,250 |
0.33
YEARS SAVED
$723
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,670
LIST RENT -
$2.19
LIST RENT PER SQFT
-
$3,415
COMP ESTIMATED VALUE -
$2.04
COMP AVG. RENT PER SQFT
Comps Range
-
2905 Winlock Road Torrance, CA 5
- 3 beds 3 baths ∙ 1,674 Sqft ∙ Built 1952 3 beds 3 baths ∙ 1,674 Sqft ∙ Built 1952
- Rent
- Rent Per SQFT
- $3,670
- $2.19
-
2444 W 255th Street Lomita, CA 1
- 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1948
LEASED 08/03/20- Rent
- Rent Per SQFT
- $2,900
- $1.93
-
2601 Dalemead Street Torrance, CA 2
- 4 beds 2 baths ∙ 1,401 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,401 Sqft ∙ Built 1953
LEASED 06/11/20- Rent
- Rent Per SQFT
- $3,000
- $2.14
-
3208 Danaha Street Torrance, CA 3
- 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1951
LEASED 11/06/19- Rent
- Rent Per SQFT
- $3,200
- $2.20
-
2507 Brian Avenue Torrance, CA 4
- 4 beds 2 baths ∙ 1,849 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,849 Sqft ∙ Built 1955
LEASED 06/22/20- Rent
- Rent Per SQFT
- $3,500
- $1.89
PROPERTY LISTING DETAILS
Beach City Brokers
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB21032504
Last Updated: 02/20/2021
