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1520 W Oak Street Burbank, CA 91506

3 Beds 2 Baths 1,832 sqft Built 1949

$949,999

List Price

$3,880

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $518.56
  • 4 Days on Market
  • MLS # : 21697120
  • Updated Date : 02/27/2021 at 16:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,832 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Beautiful Burbank home south of Olive Avenue. "Car enthusiast" garage with bonus room & bathroom could be perfect setup for an ADU with private entrance. Combining classic charm with modern finishes, inside you will find real hardwood floors throughout most of the home. Central family room with brick mantled fireplace, and remodeled kitchen boasts all new stainless appliances, farm sink, custom cabinets, breakfast bar, laundry area, & opens directly to the family room. A long driveway leads up to a 2 car garage. Separate finished office/flex room space with its own private entrance. Plenty of patio space throughout. Located in close proximity to the the Olive Recreation Center, movie studios, and nearby shops and restaurants.

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: Rancho Adjacent

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k871k

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

Neighborhood: Rancho Adjacent

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
William Mckinley Elementary School Primary Regular 452 16 6
David Starr Jordan Middle School Middle Regular 1,080 41 6
John Burroughs High School High Regular 2,649 108 8

William Mckinley Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 16
6
GreatSchools Rating

David Starr Jordan Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 41
6
GreatSchools Rating

John Burroughs High School

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

$854,999$1,044,999$949,999

PURCHASE PRICE

$3,492$4,268$3,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,880
EXPENSES Loan Payment -$3,300
Property Tax -$886
Property Insurance -$71
Property Management Fees -$190
CASH FLOW
-$567

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.

$949,999

PROJECTED PRICE

$3,880

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.9%
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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,300

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,500
Loan Amount $712,499
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$25,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,880

    LIST RENT
  • $2.12

    LIST RENT PER SQFT
  • $4,003

    COMP ESTIMATED VALUE
  • $2.19

    COMP AVG. RENT PER SQFT
Comps Range
$3,650
1$3,6502$3,6953$3,8004$3,8805$4,750
$4,750
RENT COMPS ANALYSIS
  • 1520 W Oak Street Burbank, CA 4
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1949
    • Rent
    • Rent Per SQFT
    •  
    • $3,880
    • $2.12
    •  
  • 118 S Virginia Avenue Burbank, CA 1
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1940 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1940
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.92
    •  
  • 355 W Alameda Avenue Burbank, CA 2
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1961
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $1.85
    •  
  • 222 S Keystone Street Burbank, CA 3
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1940
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.45
    •  
  • 629 N Brighton Street Burbank, CA 5
    • 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1941
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.52
    •  
PROPERTY LISTING DETAILS
Andy Martinez Jr.
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21697120
Last Updated: 02/27/2021
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