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568 W Upland Avenue San Pedro, CA 90731

3 Beds 2 Baths 1,500 sqft Built 1948

$600,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $400.00
  • 18 Days on Market
  • MLS # : SB20230745
  • Updated Date : 12/03/2020 at 15:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

West Shores Realty, Inc.

Listing Agent's Description

This property has been renovated inside and out, it has 3 bedrooms and 2 bathrooms. Beautifully remodeled contemporary kitchen with granite countertop and dark mahogany wood cabinets with recess lighting. The kitchen has an open floor plan with a living room and dining room. There is dark wood laminate flooring throughout the home. All the appliances included with the sale: washer and dryer, the stainless steel refrigerator, stove, dishwasher. Laundry room located by the kitchen. There are 2 remodeled bathrooms with granite countertop, dark mahogany cabinets with tile flooring. The backroom has a fireplace place and cathedral ceilings with fans. The interior and exterior have been recently painted. Dual pane windows. It has a big back yard that has vinyl fencing great for entertaining. There is 2 avacado trees. Small pool included. The front yard has drought-resistant landscaping, easy to maintain. There are flowers and palm trees in the front yard. This property has a detached garage that can have good income potential by adding additional units behind the garage or add on top of the garage to get a possible view of the LA Port, Vincent Thomas Bridge, and ocean. You can rent out the extra unit for $1,200-1,500. Presenting a 1 story home in a secluded neighborhood on the top of the hill. The roof is less than 9 years old. This home is close to the 110, 405, 47, 91 freeway. VA $0 down and FHA buyers welcome with 3 1/2% down.

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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: 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
 

$540,000$660,000$600,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,214
Property Tax -$620
Property Insurance -$63
Property Management Fees -$142
CASH FLOW
-$149

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.

$600,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.48%

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

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$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$41,075

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $1.93

    LIST RENT PER SQFT
  • $3,431

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,8903$2,9954$3,3005$3,700
$3,700
RENT COMPS ANALYSIS
  • 568 W Upland Avenue San Pedro, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $1.93
    •  
  • 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
Lisa Dimercurio
West Shores Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20230745
Last Updated: 12/03/2020
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