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416 N Pacific Avenue San Pedro, CA 90731

3 Beds 2 Baths 1,428 sqft Built 1951

$599,000

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $419.47
  • 7 Days on Market
  • MLS # : PV21011447
  • Updated Date : 01/19/2021 at 17:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,428 sqft
  • Baths : 2 full
Listing Agent

Re/max Estate Properties

Listing Agent's Description

Completely remodeled single family home that currently is divided into two living quarters. Back unit is 1+1 and tenant occupied that brings $1850 per month. Front house has two bedrooms and one full bath and can be used as owner occupied or business. Great LAC2 zoning that opens up to endless use and potential since it's under "opportunity zone" with tax advantage for builders and developers. Large lot. Great curb appeal that sits up high at the street level. Photos were taken right after remodel and before current tenant moved in. Very nice kitchen and bathrooms. Cherry hardwood flooring through out. Dual paned windows. Gated parking from alley. Strategically well located close to schools, parks, marina, shopping and major transportaion.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Central San Pedro

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650kPrice in $153k700k

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

Neighborhood: Central San Pedro

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2140016001800200022002400260028003000Rent in $13083174

* 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
Barton Hill Elementary School Primary Regular 699 30 2
Barton Hill Elementary School Middle Regular 699 30 2
San Pedro Senior High School High Regular 2,668 104 6

Barton Hill Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 30
2
GreatSchools Rating

Barton Hill Elementary School

  • Education Level: Middle
  • # of students: 699
  • # of teachers: 30
2
GreatSchools Rating

San Pedro Senior High School

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

$539,100$658,900$599,000

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$2,081
Property Tax -$619
Property Insurance -$62
Property Management Fees -$146
CASH FLOW
$73

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$599,000

PROJECTED PRICE

$2,980

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$55,138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $2.09

    LIST RENT PER SQFT
  • $3,267

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9803$2,9954$3,3005$3,700
$3,700
RENT COMPS ANALYSIS
  • 416 N Pacific Avenue San Pedro, CA 2
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $2.09
    •  
  • 1238 W 2nd Street San Pedro, CA 1
    • 3 beds 1 baths ∙ 1,334 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,334 Sqft ∙ Built 1961
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.14
    •  
  • 1256 Big Canyon Place San Pedro, CA 3
    • 3 beds 1 baths ∙ 1,328 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,328 Sqft ∙ Built 1940
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.26
    •  
  • 806 W Bloomwood Road San Pedro, CA 4
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1961
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.48
    •  
  • 843 Millmark Grove Street San Pedro, CA 5
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1961
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.27
    •  
PROPERTY LISTING DETAILS
Larissa Rubijevsky
Re/max Estate Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV21011447
Last Updated: 01/19/2021
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