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1420 N Buena Vista Street Burbank, CA 91505

3 Beds 2 Baths 1,654 sqft Built 1941

$849,000

List Price

$3,900

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1941
  • Price/Sqft : $513.30
  • 6 Days on Market
  • MLS # : SR20228738
  • Updated Date : 11/01/2020 at 08:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,654 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Encino-sherman Oaks

Listing Agent's Description

Impeccably Maintained Burbank 1940’s Traditional 3 Bedrooms 2 Baths, Family Room and a 4+ CAR GARAGE. Living Room with Cozy Fireplace and Formal Dining Room with Views of the Grassy Front Yard. Large Family Room with Cozy Fireplace, Paneling and Beamed Ceiling with Direct Access to Covered Porch and Backyard. Retro 1940’s Eat-in Kitchen Lots of Counter Space. Two Hallway Baths with 1940’s Original Tile and Details. Inside Laundry Room with Side by Side Hookups off the Kitchen. Beautifully Maintained Original Oak Hardwood Floors Throughout. Upgrades including Central Air and Heating, Dual Paned Glass Windows and Updated Plumbing. 4+ Car Garage with Access from Buena Vista as Well as the Alley Behind the Property. The Front Part of the Garage is a Standard 2 Car that is Separated from the Rear 2 Car Oversized Garage which is Deeper than the Front Garage. Possible ADU while Maintaining a 2 Car Garage. Grassy Back Yard with Concrete Pad with Alley Direct Access. Close to Ralph’s as well as Shopping and Restaurants.

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 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
John Burroughs High School High Regular 2,649 108 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

John Burroughs High School

  • Education Level: High
  • # of students: 2,649
  • # of teachers: 108
8
GreatSchools Rating
 

$764,100$933,900$849,000

PURCHASE PRICE

$3,510$4,290$3,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,900
EXPENSES Loan Payment -$3,132
Property Tax -$792
Property Insurance -$67
Property Management Fees -$191
CASH FLOW
-$282

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.

$849,000

PROJECTED PRICE

$3,900

PROJECTED RENT

0.46%

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-$10k$0.0$10k$20k$30k

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$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$3,132

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$51,432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,900

    LIST RENT
  • $2.36

    LIST RENT PER SQFT
  • $4,251

    COMP ESTIMATED VALUE
  • $2.57

    COMP AVG. RENT PER SQFT
Comps Range
$3,850
1$3,8502$3,9003$3,9004$4,1005$4,195
$4,195
RENT COMPS ANALYSIS
  • 1420 N Buena Vista Street Burbank, CA 3
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1941
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.36
    •  
  • 1381 N Catalina Street Burbank, CA 1
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1939 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1939
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.41
    •  
  • 1328 N Catalina Street Burbank, CA 2
    • 4 beds 2 baths ∙ 1,557 Sqft ∙ Built 1939 4 beds 2 baths ∙ 1,557 Sqft ∙ Built 1939
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.50
    •  
  • 1032 N Myers Street Burbank, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1939
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.73
    •  
  • 1448 N Niagara Street Burbank, CA 5
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1940
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,195
    • $2.64
    •  
PROPERTY LISTING DETAILS
Todd Riley
Keller Williams Encino-sherman Oaks
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20228738
Last Updated: 11/01/2020
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