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3835 Merit Place Torrance, CA 90505

4 Beds 1 Baths 2,427 sqft Built 1976

$1,185,000

List Price

$4,210

$4K - $4.5K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $488.26
  • 6 Days on Market
  • MLS # : SB20223445
  • Updated Date : 11/20/2020 at 11:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,427 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Beach Cities

Listing Agent's Description

Positioned at the end of a quiet cul-de-sac, this 4 bed, 3 bath, 2427 sq ft single family home will be the perfect sanctuary for you in the Southwood Riviera neighborhood of South Torrance! Only a block away from Launch PreK and Arnold Elementary and a couple streets away from Calle Mayor Middle School, and so close to all the restaurants, shops, and businesses along Hawthorne Blvd, including the famous Del Amo Mall. Step through the covered front door into the formal living and dining rooms. The piano is included in the sale! The well-appointed kitchen features stainless appliances, plenty of stone countertop workspace, an abundance of cabinet storage and a double-door pantry! The kitchen opens generously to the family room and backyard through sliding glass doors, where you will find plenty of grass and a concrete patio with a beautiful pergola overhead. Upstairs, you will appreciate two bedrooms with southern views over the neighborhood, a full hall bath, and of course the Master Suite with two massive custom-organized closets. Everybody will love more parking, space for a private indoor gym, or just more space for storage in the attached 3 car garage! There's even space for a motorhome or a boat trailer behind the private gate along the west length of the 5990 sq ft lot. VIRTUAL TOUR -> https://tinyurl.com/MeritPl2

SEE MORE

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: Southwood Riviera

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $199k970k

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

Neighborhood: Southwood Riviera

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17843818

* 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
Arnold Elementary School Primary Regular 733 29 8
Calle Mayor Middle School Middle Regular 770 29 8
South High School High Regular 2,132 88 10

Arnold Elementary School

  • Education Level: Primary
  • # of students: 733
  • # of teachers: 29
8
GreatSchools Rating

Calle Mayor Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 29
8
GreatSchools Rating

South High School

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

$1,066,500$1,303,500$1,185,000

PURCHASE PRICE

$3,789$4,631$4,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,210
EXPENSES Loan Payment -$4,372
Property Tax -$1,149
Property Insurance -$86
Property Management Fees -$206
CASH FLOW
-$1,603

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.

$1,185,000

PROJECTED PRICE

$4,210

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$30k-$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$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$319,775

INVESTMENT

$319,775

Down Payment
$296,250
Rehab Estimate
$5,750
Closing Costs
$17,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,372

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $296,250
Loan Amount $888,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,692

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,210

    LIST RENT
  • $1.73

    LIST RENT PER SQFT
  • $4,235

    COMP ESTIMATED VALUE
  • $1.75

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$4,2103$4,2504$4,3005$4,500
$4,500
RENT COMPS ANALYSIS
  • 3835 Merit Place Torrance, CA 2
    • 4 beds 1 baths ∙ 2,427 Sqft ∙ Built 1976 4 beds 1 baths ∙ 2,427 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $4,210
    • $1.73
    •  
  • 23452 Kathryn Avenue Torrance, CA 1
    • 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 1962
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.72
    •  
  • 3915 W 231st Place Torrance, CA 3
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 1964
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $1.82
    •  
  • 2571 Bayport Drive Torrance, CA 4
    • 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 1987
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.70
    •  
  • 2755 W 234th Street Torrance, CA 5
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1965
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.74
    •  
PROPERTY LISTING DETAILS
Alex Smith
Keller Williams Beach Cities
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20223445
Last Updated: 11/20/2020
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