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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1943
- Price/Sqft : $552.78
- 3 Days on Market
- MLS # : SB21031535
- Updated Date : 02/19/2021 at 19:30
CONSTRUCTION
- Beds : 4
- Floor Size : 1,800 sqft
- Baths : 2 full
Listing Agent
Re/max Estate Properties
Listing Agent's Description
Gorgeous four-bedroom, two-bath home on an extra-large, 6,750-square-foot lot in San Pedro's historic Weymouth Corners in the Vista del Oro neighborhood, complete with a beautiful, spacious gated yard ideal for relaxing and entertaining. Expect significant upgrades throughout — central heat and air, fresh paint inside and out, dual-glazed casement windows with plantation shutters, skylights, ceiling fans, custom flooring, and an original bath restored and updated with high-end fixtures. Among the many highlights is a sumptuous, three-room master retreat boasting French doors, a fireplace, designer showroom closet, luxurious spa-like bath with dual vanities, jetted soaking tub and separate shower. This delightful home also features a sun-drenched living room with fireplace and built-in surround sound, and a large kitchen outfitted with granite countertops, top-of-the-line professional grade appliances, a coffee bar and center island for casual dining. Other exceptional offerings include a charming guest bedroom, an office/bedroom and a bedroom with original oak flooring that's been converted into a bar/pub with French doors. There is also an additional space perfect for a man cave/she space, workshop, hobby room or office, plus a recently added roof (with transferable warranty) and cutting-edge security systems. Topping it all off: a covered deck, a huge, park-like backyard with fruit trees and a secluded patio with fountain and vintage fireplace. PLEASE CHECK OUT THE VIDEO
SEE MORE
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: Northwest San Pedro
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northwest San Pedro
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,240 |
| EXPENSES | Loan Payment | -$3,456 |
| Property Tax | -$1,020 | |
| Property Insurance | -$71 | |
| Property Management Fees | -$159 | |
|
CASH FLOW
-$1,465
|
||
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.
$995,000
PROJECTED PRICE
$3,240
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 5.8% |
| 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
$269,425
LOAN DETAILS
$3,456
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $248,750 |
| Loan Amount | $746,250 |
0.17
YEARS SAVED
$158
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,240
LIST RENT -
$1.8
LIST RENT PER SQFT
-
$3,192
COMP ESTIMATED VALUE -
$1.77
COMP AVG. RENT PER SQFT
Comps Range
-
353 S Weymouth Avenue San Pedro, CA 2
- 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1943 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1943
- Rent
- Rent Per SQFT
- $3,240
- $1.80
-
722 S Malgren Avenue San Pedro, CA 1
- 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1954
LEASED 06/19/20- Rent
- Rent Per SQFT
- $2,900
- $1.75
-
28104 Pontevedra Drive Rancho Palos Verdes, CA 3
- 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 1959
LEASED 09/01/19- Rent
- Rent Per SQFT
- $3,250
- $1.74
-
640 Bynner Drive San Pedro, CA 4
- 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
PROPERTY LISTING DETAILS
Re/max Estate Properties
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB21031535
Last Updated: 02/19/2021
