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2917 Oakwood Lane Torrance, CA 90505

3 Beds 4 Baths 2,026 sqft Built 1976

$1,199,000

List Price

$4,020

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $591.81
  • 3 Days on Market
  • MLS # : SB21052621
  • Updated Date : 03/13/2021 at 14:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,026 sqft
  • Baths : 3 full , 1 half
Listing Agent

3 Leaf Realty Inc

Listing Agent's Description

Perched on a hill in Walteria, this single family home has excellent views of the surrounding neighborhood and Downtown LA, plus the privacy you look for. You will appreciate the beautifully landscaped yard as you enter the home through the Santa Barbara-style courtyard. The downstairs has a spacious living room and features vaulted ceilings and a fireplace. The kitchen has amazing granite countertops, plenty of cabinets for storage, and is open to an extra eating area, or maybe a second family space. And don’t forget the formal dining room. Both the living room and kitchen have sliders out to your backyard, which is perfect for the entertainer in you. With its outdoor kitchen, featuring a built-in grill, you have the space to grill, eat, visit, and relax. You will find all the bedrooms upstairs. The oversized master bedroom has city views, 3 closets, and a master bath with a separate shower. The other two bedrooms, one with built-ins, have their own private bathroom as well. This move-in ready home, located on a cul-de-sac, has air conditioning and is located close to shopping, restaurants, parks and schools.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Country Hills

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $199k1072k

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

Neighborhood: Country Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844023

* 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
Walteria Elementary School Primary Regular 657 24 9
Edward J. Richardson Middle School Middle Regular 691 25 9
South High School High Regular 2,132 88 10

Walteria Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 24
9
GreatSchools Rating

Edward J. Richardson Middle School

  • Education Level: Middle
  • # of students: 691
  • # of teachers: 25
9
GreatSchools Rating

South High School

  • Education Level: High
  • # of students: 2,132
  • # of teachers: 88
10
GreatSchools Rating
 

$1,079,100$1,318,900$1,199,000

PURCHASE PRICE

$3,618$4,422$4,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,020
EXPENSES Loan Payment -$4,165
Property Tax -$1,162
Property Insurance -$76
Property Management Fees -$197
CASH FLOW
-$1,580

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.

$1,199,000

PROJECTED PRICE

$4,020

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,485

INVESTMENT

$323,485

Down Payment
$299,750
Rehab Estimate
$5,750
Closing Costs
$17,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,165

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$907

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,020

    LIST RENT
  • $1.98

    LIST RENT PER SQFT
  • $4,032

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$4,0003$4,0204$4,2505$4,500
$4,500
RENT COMPS ANALYSIS
  • 2917 Oakwood Lane Torrance, CA 3
    • 3 beds 4 baths ∙ 2,026 Sqft ∙ Built 1976 3 beds 4 baths ∙ 2,026 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $4,020
    • $1.98
    •  
  • 25622 Amber Leaf Road Torrance, CA 1
    • 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 1976 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 1976
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.76
    •  
  • 2682 Hillside Drive Torrance, CA 2
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1983
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.87
    •  
  • 3012 Carolwood Lane Torrance, CA 4
    • 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 1976
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.13
    •  
  • 2935 Briarwood Drive Torrance, CA 5
    • 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 1976 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 1976
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.20
    •  
PROPERTY LISTING DETAILS
Jeremiah Carew
3 Leaf Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21052621
Last Updated: 03/13/2021
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