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1236 N Columbus Avenue #7 Glendale, CA 91202

3 Beds 3 Baths 1,559 sqft Built 1974

$750,000

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $481.08
  • 10 Days on Market
  • MLS # : SR21034707
  • Updated Date : 02/24/2021 at 14:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,559 sqft
  • Baths : 2 full , 1 half
Listing Agent

Socal Real Estate Services

Listing Agent's Description

Welcome to this wonderful 3br, 2.5 bath condo in a fabulous area of Glendale. There is a yard sized patio used by this unit and it's accessible form the street. The living room leads to a nice tiled balcony that is perfect for enjoying at any time of the day. There is laundry in the unit. Two side by side parking spaces plus separate storage area. The common area includes a swimming pool, spa, recreation room. Conveniently located, close to shopping, entertainment, and freeways. This is a perfect opportunity for a first time buyer or an investor.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Verdugo Viejo

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $193k865k

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

Neighborhood: Verdugo Viejo

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844095

* 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
Eleanor J. Toll Middle School Middle Regular 1,156 44 7
Herbert Hoover Senior High School High Regular 1,719 70 7

Eleanor J. Toll Middle School

  • Education Level: Middle
  • # of students: 1,156
  • # of teachers: 44
7
GreatSchools Rating

Herbert Hoover Senior High School

  • Education Level: High
  • # of students: 1,719
  • # of teachers: 70
7
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,605
Property Tax -$721
Property Insurance -$65
HOA -$360
Property Management Fees -$137
CASH FLOW
-$1,098

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.

$750,000

PROJECTED PRICE

$2,790

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.7%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$94

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $1.79

    LIST RENT PER SQFT
  • $3,243

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,790
1$2,7902$3,1003$3,1904$3,5005$3,850
$3,850
RENT COMPS ANALYSIS
  • 1236 N Columbus Avenue Glendale, CA 1
    • 3 beds 3 baths ∙ 1,559 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,559 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.79
    •  
  • 1333 Valley View Road Glendale, CA 2
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1975
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.83
    •  
  • 506 N Kenwood Street Glendale, CA 3
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1985
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $2.23
    •  
  • 328 Parkwood Drive Glendale, CA 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1955
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.06
    •  
  • 345 Pioneer Drive Glendale, CA 5
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1988
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.20
    •  
PROPERTY LISTING DETAILS
Ara Chragian
Socal Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21034707
Last Updated: 02/24/2021
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