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828 Millmark Grove Street San Pedro, CA 90731

3 Beds 2 Baths 1,286 sqft Built 1961

$759,000

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $590.20
  • 6 Days on Market
  • MLS # : SB20237084
  • Updated Date : 11/11/2020 at 11:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,286 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Welcome to this desired area of San Pedro. This home features three bedrooms and two bathrooms with one bedroom and bathroom on the main level. Living room and dining room have newer laminate floors, smooth ceilings, recessed lighting, and attractive ceiling fans. Living room also features a gas fireplace. Living room, dining room and kitchen all have views of the large, flat backyard. Stairs have been beautifully refinished. All bedrooms are nice-sized rooms, and windows facing the backyard. Direct access from the two-car garage into the home. Washer/dryer hookups are located in the garage. The backyard's possibilities are endless for outdoor living and entertaining. Walking distance to Taper Avenue Elementary, park, and shops, and close to restaurants and freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Northwest San Pedro

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Northwest San Pedro

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17133697

* 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
Taper Avenue Elementary School Primary Regular 626 25 8
Rudecinda Sepulveda Dodson Middle School Middle Regular 1,846 67 8
San Pedro Senior High School High Regular 2,668 104 6

Taper Avenue Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 25
8
GreatSchools Rating

Rudecinda Sepulveda Dodson Middle School

  • Education Level: Middle
  • # of students: 1,846
  • # of teachers: 67
8
GreatSchools Rating

San Pedro Senior High School

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

$683,100$834,900$759,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,800
Property Tax -$778
Property Insurance -$58
Property Management Fees -$145
CASH FLOW
-$831

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.

$759,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$206,885

INVESTMENT

$206,885

Down Payment
$189,750
Rehab Estimate
$5,750
Closing Costs
$11,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,800

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $189,750
Loan Amount $569,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$5,505

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $2.29

    LIST RENT PER SQFT
  • $2,961

    COMP ESTIMATED VALUE
  • $2.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$2,9503$3,3004$3,5005$3,700
$3,700
RENT COMPS ANALYSIS
  • 828 Millmark Grove Street San Pedro, CA 2
    • 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.29
    •  
  • 1837 Caddington Drive Rancho Palos Verdes, CA 1
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1979
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.30
    •  
  • 806 W Bloomwood Road San Pedro, CA 3
    • 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
    •  
  • 28626 Mount Palomar Place Rancho Palos Verdes, CA 4
    • 4 beds 2 baths ∙ 1,624 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,624 Sqft ∙ Built 1973
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.16
    •  
  • 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
Lucy Milivojevic
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20237084
Last Updated: 11/11/2020
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