Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1517 N Fairview Street Burbank, CA 91505

3 Beds 2 Baths 1,500 sqft Built 1938

$996,550

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1938
  • Price/Sqft : $664.37
  • 36 Days on Market
  • MLS # : 21684006
  • Updated Date : 02/27/2021 at 16:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Real Brokerage Technologies

Listing Agent's Description

First time on the market in 40 years! The lot is apprx. 6624 sqft, the backyard is an entertainer's dream! 3+2 with a bonus room! Check the comps! This is a great opportunity to buy in this beautiful area! Crown moulding, recessed lighting, Nest controlled heating & air throughout. The living room is drenched in natural light making it bright and inviting. There's a semi-open concept as the living, dining and kitchen are attached. Kitchen has ample storage, granite countertops; stove, refrigerator, dishwasher are included. Separate laundry area next to kitchen where stackable washer and dryer are located (also included). 3 rooms in the front; one bedroom has a bonus room attached (4th bedrm?) could be used as a home office, studio, game room, gym. Tucked away in the back is a private suite (almost its own wing) with a fireplace and en-suite bath. French doors open to overlook the backyard that has two fruit bearing trees- avocado and lemon. Move-in ready but endless potential to expand more if allowed. Tankless water heater, upgraded electrical panel. Approximately 1 mile to Magnolia Park, Porto's Bakery, Handy Market, to name a few. Local attractions like Disney Studios, Warner Bros., and more.

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: 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
 

$896,895$1,096,205$996,550

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$3,461
Property Tax -$929
Property Insurance -$57
Property Management Fees -$151
CASH FLOW
-$1,519

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.

$996,550

PROJECTED PRICE

$3,080

PROJECTED RENT

0.31%

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-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$269,836

INVESTMENT

$269,836

Down Payment
$249,138
Rehab Estimate
$5,750
Closing Costs
$14,948

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,461

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,138
Loan Amount $747,413
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $2.46

    LIST RENT PER SQFT
  • $3,672

    COMP ESTIMATED VALUE
  • $2.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,080
1$3,0802$3,2503$3,7504$4,0005$4,195
$4,195
RENT COMPS ANALYSIS
  • 1517 N Fairview Street Burbank, CA 1
    • 4 beds 2 baths ∙ 1,250 Sqft ∙ Built 1938 4 beds 2 baths ∙ 1,250 Sqft ∙ Built 1938
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $2.46
    •  
  • 6216 Cahuenga Boulevard North Hollywood, CA 2
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1940
    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
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.72
    •  
  • 1121 N Reese Place Burbank, CA 4
    • 3 beds 3 baths ∙ 1,291 Sqft ∙ Built 1949 3 beds 3 baths ∙ 1,291 Sqft ∙ Built 1949
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $3.10
    •  
  • 1825 N Pass Avenue Burbank, CA 5
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1958
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,195
    • $3.16
    •  
PROPERTY LISTING DETAILS
Marva Pace
Real Brokerage Technologies
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21684006
Last Updated: 02/27/2021
BESbswy