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767 W 21st Street San Pedro, CA 90731

3 Beds 2 Baths 1,412 sqft Built 1941

$898,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $635.98
  • 3 Days on Market
  • MLS # : SB21019255
  • Updated Date : 01/29/2021 at 15:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,412 sqft
  • Baths : 2 full
Listing Agent

Vista Sotheby’s International Realty

Listing Agent's Description

FOR THOSE WHO DREAM BIG! Sitting high above the treetops, this contemporary remodeled home delights with its myriad of views. From the front balcony and living room, city lights and snowcapped mountains bring a sense of calmness to your day. More sensational views await you in the newly landscaped, huge, two-tiered backyard. Enjoy impressive views of the ocean, Los Angeles Harbor, and Vincent Thomas Bridge from your new spacious wood deck. The upstairs 895 sq. ft. home encompasses two bedrooms and one bath with modern upgrades including new a kitchen with quartz counters, white shaker self-closing cabinets, and a farmhouse sink. The stylish full bath is appointed with custom tile and modern floating vanity. A new roof, electrical, plumbing, hardwood floors, ceiling fans, and parking for 4 cars are just some of the many attractive features. The downstairs 517sq. ft. ADU (with its own entrance and address) provides that third bedroom suite or an excellent rental. Also fully remodeled, this attractive unit is appointed with a bright and sunny eat-in kitchen, sophisticated ¾ bath, wide-planked floors, separate washer/dryer hookups, a bonus room, and access to the front and back yards. With each home having privacy, the savvy investor or home office professional will find this move-in-condition home an exceptional find!

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MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ocean View

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $187k726k

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

Neighborhood: Ocean View

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15823247

* 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
Richard Henry Dana Middle School Middle Regular 1,528 59 2
San Pedro Senior High School High Regular 2,668 104 6

Richard Henry Dana Middle School

  • Education Level: Middle
  • # of students: 1,528
  • # of teachers: 59
2
GreatSchools Rating

San Pedro Senior High School

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

$808,200$987,800$898,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$3,119
Property Tax -$921
Property Insurance -$61
Property Management Fees -$141
CASH FLOW
-$1,371

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.

$898,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$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$243,720

INVESTMENT

$243,720

Down Payment
$224,500
Rehab Estimate
$5,750
Closing Costs
$13,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,119

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,500
Loan Amount $673,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$89

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $2.03

    LIST RENT PER SQFT
  • $3,191

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,870
1$2,8702$2,9003$3,2004$3,3005$3,500
$3,500
RENT COMPS ANALYSIS
  • 767 W 21st Street San Pedro, CA 1
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $2.03
    •  
  • 3435 S Leland Street San Pedro, CA 2
    • 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1948
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.15
    •  
  • 865 W 30th Street San Pedro, CA 3
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1951
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.36
    •  
  • 759 W 17th Street San Pedro, CA 4
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1941
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.29
    •  
  • 1121 S Walker Avenue San Pedro, CA 5
    • 3 beds 1 baths ∙ 1,560 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,560 Sqft ∙ Built 1949
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.24
    •  
PROPERTY LISTING DETAILS
Antoinette Hopper
Vista Sotheby’s International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21019255
Last Updated: 01/29/2021
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