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1465 N Pass Avenue Burbank, CA 91505

3 Beds 2 Baths 1,249 sqft Built 1940

$965,000

List Price

$3,370

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $772.62
  • 3 Days on Market
  • MLS # : SR21024586
  • Updated Date : 02/12/2021 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,249 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Vip Properties

Listing Agent's Description

Welcome to the beautiful, charming Burbank. This 3 bedroom, 2 bathroom home is on a spacious corner lot with curb appeal, ample space for parking & RV parking!There is a driveway for parking in the front entrance as well as the side where the 2 car garage, 2nd driveway and 2nd entrance is located. The lush landscaping in the front, side and backyard has new sprinklers with a drip system. This single story home has an open floor plan which is perfect for entertaining. When you walk in you first notice how light and bright it is with its many windows. The brand new laminate flooring and freshly painted home is ready to make the space your own. The kitchen has been newly remodeled with quartz countertops, subway backsplash, and new stainless steel appliances. Side by side laundry is conveniently located in the kitchen. The home has original wood flooring in one of rooms & some original hardware, doors, etc. that add to the charm of this home built in 1940! One bedroom has its own separate entrance & patio area, perfect for someone wanting extra privacy or private office. The master bath is newly remodeled with a step in shower and gorgeous grey toned tile. The oversized 2 car garage is finished with lots of attic storage space. This home has a brand new HVAC system & ductwork, new upgraded electrical panel, security system with cameras, new light/fan fixtures, and a nest system. Located within walking distance of shops, restaurants and Warner Brothers Studios.

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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
Bret Harte Elementary School Primary Regular 676 23 8
Luther Burbank Middle School Middle Regular 1,102 45 6
John Burroughs High School High Regular 2,649 108 8

Bret Harte Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 23
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
 

$868,500$1,061,500$965,000

PURCHASE PRICE

$3,033$3,707$3,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,370
EXPENSES Loan Payment -$3,352
Property Tax -$900
Property Insurance -$57
Property Management Fees -$165
CASH FLOW
-$1,104

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.

$965,000

PROJECTED PRICE

$3,370

PROJECTED RENT

0.35%

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

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$261,475

INVESTMENT

$261,475

Down Payment
$241,250
Rehab Estimate
$5,750
Closing Costs
$14,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,352

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $241,250
Loan Amount $723,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,879

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,370

    LIST RENT
  • $2.7

    LIST RENT PER SQFT
  • $3,703

    COMP ESTIMATED VALUE
  • $2.97

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,3703$3,7504$4,1955$4,195
$4,195
RENT COMPS ANALYSIS
  • 1465 N Pass Avenue Burbank, CA 2
    • 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 1940
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,370
    • $2.70
    •  
  • 6216 Cahuenga Boulevard North Hollywood, CA 1
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1940
    property image
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.77
    •  
  • 2120 N Manning Street Burbank, CA 3
    • 3 beds 1 baths ∙ 1,380 Sqft ∙ Built 1944 3 beds 1 baths ∙ 1,380 Sqft ∙ Built 1944
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.72
    •  
  • 1825 N Pass Avenue Burbank, CA 4
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1958
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,195
    • $3.16
    •  
  • 3917 W Chandler Boulevard Burbank, CA 5
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1942
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,195
    • $3.21
    •  
PROPERTY LISTING DETAILS
Kimberly Thurman
Keller Williams Vip Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21024586
Last Updated: 02/12/2021
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