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1318 N Beachwood Drive Burbank, CA 91506

3 Beds 1 Baths 1,292 sqft Built 1953

$989,989

List Price

$3,520

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $766.25
  • 4 Days on Market
  • MLS # : BB21003598
  • Updated Date : 01/09/2021 at 10:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,292 sqft
  • Baths : 1 full
Listing Agent

Media West Realty,inc.

Listing Agent's Description

Elegance abound in this thoroughly update modern 3 bed 2 bathroom Burbank home. This truly one of a kind home has been exquisitely updated and upgraded with modern finishes, new AC/heat, owned Tesla solar, electrical and plumbing all complemented by the recently completed and stunning 70K upgrade of the pool and patio. Some of the interior finishes include modern european style kitchen with seamless backsplash, stunning central island with matching waterfall quartzscape, new appliances, oversized baseboards, dual fireplaces with slate surround and a quartz mantle. The pool's recent update features new equipment, pool resurfacing, glass tile surround, upgraded and remote phone controllable pumps, bubblers and LED lights. The 2 car garage has been insulated, drywalled, has an epoxy floor and would be perfect for and ADU. This home is like no other and has to be seen to truly be experienced.

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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 District

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Northwest District

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $16833697

* 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
Thomas Edison Elementary School Primary Regular 542 19 8
Luther Burbank Middle School Middle Regular 1,102 45 6
Burbank High School High Regular 2,606 106 8

Thomas Edison Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 19
8
GreatSchools Rating

Luther Burbank Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 45
6
GreatSchools Rating

Burbank High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 106
8
GreatSchools Rating
 

$890,990$1,088,988$989,989

PURCHASE PRICE

$3,168$3,872$3,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,520
EXPENSES Loan Payment -$3,439
Property Tax -$923
Property Insurance -$58
Property Management Fees -$172
CASH FLOW
-$1,072

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.

$989,989

PROJECTED PRICE

$3,520

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.2%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$268,097

INVESTMENT

$268,097

Down Payment
$247,497
Rehab Estimate
$5,750
Closing Costs
$14,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,439

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $247,497
Loan Amount $742,492
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$4,541

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,520

    LIST RENT
  • $2.72

    LIST RENT PER SQFT
  • $3,708

    COMP ESTIMATED VALUE
  • $2.87

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,5203$3,7004$3,7505$4,500
$4,500
RENT COMPS ANALYSIS
  • 1318 N Beachwood Drive Burbank, CA 2
    • 3 beds 1 baths ∙ 1,292 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,292 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $3,520
    • $2.72
    •  
  • 1400 Leland Way Burbank, CA 1
    • 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1943 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1943
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.82
    •  
  • 1811 N Frederic Street Burbank, CA 3
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1948
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $3.08
    •  
  • 2223 N Niagara Street Burbank, CA 4
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1947
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.58
    •  
  • 1517 N Myers Street Burbank, CA 5
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1950
    LEASED 10/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.00
    •  
PROPERTY LISTING DETAILS
John Scarff
Media West Realty,inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: BB21003598
Last Updated: 01/09/2021
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