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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Central San Pedro
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$164,750
LOAN DETAILS
$2,214
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $150,000 |
| Loan Amount | $450,000 |
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
-
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
West Shores Realty, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SB20230745
Last Updated: 12/03/2020
