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3707 S Patton Avenue San Pedro, CA 90731

3 Beds 1 Baths 1,373 sqft Built 1940

$925,000

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $673.71
  • 4 Days on Market
  • MLS # : PV20250534
  • Updated Date : 12/04/2020 at 22:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,373 sqft
  • Baths : 1 full
Listing Agent

Re/max Estate Properties

Listing Agent's Description

The cliffs of Palos Verdes are one of the most beautiful landscapes along the California Coastline as whales and dolphins swim through the waters just offshore, easily visible from the "road by the sea." Just a block from the ocean and the fantastic walking trails along "Paseo Del Mar" sits this 1940's bungalow with a large lot in the Palisades. Greeted with drought tolerant cactus and succulent landscaping you arrive at the slate covered patio. Enter into a large family room with a fireplace and windows towards the ocean plus a stained glass window. Gleaming Oak hardwood floors lead you into each room and hallway, while the kitchen and bathrooms have tile flooring. There are 3 bedrooms and 2 baths among 1,373 sf of living space with great storage in this single level charmer. The large kitchen features a vaulted ceiling with skylights among a long center island plus a second bar top seating area with pull out storage. Oak cabinets and tile countertops with a chefs stainless cooktop and double oven will accommodate your guests in the lively atmosphere of the property. With tons lot of light throughout the home there is a great feeling of happiness. A nice path strolls through the trees in the yard to the 2 car garage. The laundry is in the garage with a separate tankless water heater. The lot has plenty of room for a sandbox, vegetable garden, swing set or entertaining on the raised brick patio in the 7,500 sf lot. Its a beautiful bungalow by the Sea.

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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

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $187k803k

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

Neighborhood: Coastal San Pedro

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16353365

* 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
White Point Elementary School Primary Regular 409 18 8
Richard Henry Dana Middle School Middle Regular 1,528 59 2
San Pedro Senior High School High Regular 2,668 104 6

White Point Elementary School

  • Education Level: Primary
  • # of students: 409
  • # of teachers: 18
8
GreatSchools Rating

Richard Henry Dana Middle School

  • Education Level: Middle
  • # of students: 1,528
  • # of teachers: 59
2
GreatSchools Rating

San Pedro Senior High School

  • Education Level: High
  • # of students: 2,668
  • # of teachers: 104
6
GreatSchools Rating
 

$832,500$1,017,500$925,000

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$3,413
Property Tax -$933
Property Insurance -$60
Property Management Fees -$156
CASH FLOW
-$1,382

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.

$925,000

PROJECTED PRICE

$3,180

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$250,875

INVESTMENT

$250,875

Down Payment
$231,250
Rehab Estimate
$5,750
Closing Costs
$13,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,413

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $231,250
Loan Amount $693,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$366

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $2.32

    LIST RENT PER SQFT
  • $3,192

    COMP ESTIMATED VALUE
  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9003$3,1804$3,2005$3,725
$3,725
RENT COMPS ANALYSIS
  • 3707 S Patton Avenue San Pedro, CA 3
    • 3 beds 1 baths ∙ 1,373 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,373 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $2.32
    •  
  • 3452 S Leland Street San Pedro, CA 1
    • 3 beds 1 baths ∙ 1,249 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,249 Sqft ∙ Built 1947
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.32
    •  
  • 3435 S Leland Street San Pedro, CA 2
    • 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1948
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.15
    •  
  • 865 W 30th Street San Pedro, CA 4
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1951
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.36
    •  
  • 1292 W 18th Street San Pedro, CA 5
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1952
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,725
    • $2.47
    •  
PROPERTY LISTING DETAILS
Jason Buck
Re/max Estate Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV20250534
Last Updated: 12/04/2020
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