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5128 Merrill Street Torrance, CA 90503

3 Beds 2 Baths 1,120 sqft Built 1955

$929,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $829.46
  • 3 Days on Market
  • MLS # : SB21007885
  • Updated Date : 01/16/2021 at 17:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,120 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices California Properties

Listing Agent's Description

THE LOCATION IS MORE THAN OUTSTANDING: SUPERIOR INTERIOR STREET, HEARTLAND OF THE NEIGHBORHOOD; LOWER CROSS TRAFFIC! NEWLY INSTALLED, VIBRANT GREEN FRONT LAWN W/AUTO SPRINKLER SYSTEM ADDS SUPERB CURB APPEAL. ALSO INCLUDED: YOUR VERY OWN PALM TREE! CAN'T BEAT THAT! YES, YOU COULD BECOME PART OF THIS HIGHLY DESIRABLE SOUTHWOOD/WEST HIGH AREA. REASONABLY ACHIEVABLE INTERIOR COSMETIC FIXES (paint, flooring, fixtures, etc.). FRONT LIVING ROOM MODEL W/KITCHEN PARALLEL TO STREET. ONE HALLWAY BATH & ANOTHER IN WEST BEDROOM. FORCED AIR HEATING. FRESH AND COOL PACIFIC OCEAN BREEZES. AWARD WINNING TORRANCE SCHOOLS: WEST HIGH; JEFFERSON MIDDLE SCHOOL; ANZA ELEMENTARY. JUST MINUTES FROM EVERYTHING: WALK OR BIKE TO BEACHES OF BIG BLUE PACIFIC OCEAN (King Harbor @ Redondo Beach; Torrance Beach, etc). DON'T YOU DARE MISS IT!

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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: Southwood

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k908k

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

Neighborhood: Southwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Anza Elementary School Primary Regular 636 24 10
Jefferson Middle School Middle Regular 585 21 8
West High School High Regular 2,088 79 9

Anza Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 24
10
GreatSchools Rating

Jefferson Middle School

  • Education Level: Middle
  • # of students: 585
  • # of teachers: 21
8
GreatSchools Rating

West High School

  • Education Level: High
  • # of students: 2,088
  • # of teachers: 79
9
GreatSchools Rating
 

$836,100$1,021,900$929,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$3,227
Property Tax -$900
Property Insurance -$54
Property Management Fees -$143
CASH FLOW
-$1,404

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.

$929,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 3.9%
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

PROJECTED ANNUAL CASH FLOW

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

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$251,935

INVESTMENT

$251,935

Down Payment
$232,250
Rehab Estimate
$5,750
Closing Costs
$13,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,227

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $232,250
Loan Amount $696,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $2.61

    LIST RENT PER SQFT
  • $2,668

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9203$3,2004$3,4505$3,450
$3,450
RENT COMPS ANALYSIS
  • 5128 Merrill Street Torrance, CA 2
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $2.61
    •  
  • 21426 Evalyn Avenue Torrance, CA 1
    • 3 beds 1 baths ∙ 1,175 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,175 Sqft ∙ Built 1955
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.38
    •  
  • 22927 Ocean Avenue Torrance, CA 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1955
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.37
    •  
  • 206 N Prospect Avenue Redondo Beach, CA 4
    • 3 beds 1 baths ∙ 1,450 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,450 Sqft ∙ Built 1947
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.38
    •  
  • 21517 Ocean Avenue Torrance, CA 5
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1956
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.40
    •  
PROPERTY LISTING DETAILS
Larry Humes
Berkshire Hathaway Homeservices California Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21007885
Last Updated: 01/16/2021
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