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1648 Santa Barbara Avenue Glendale, CA 91208

3 Beds 2 Baths 1,805 sqft Built 1926

$1,180,000

List Price

$4,030

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1926
  • Price/Sqft : $653.74
  • 3 Days on Market
  • MLS # : 21678006
  • Updated Date : 01/09/2021 at 09:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,805 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

That familiar, comfy feeling you experience when wrapped in a favorite down comforter. Calming. Warm. Peaceful. Located on exquisite tree-lined street, this pretty three-bedroom, two-bath single level Spanish has been meticulously cared for and a source of family love. Built in 1929, home is filled with character boasting many charming features: high ceilings, exposed wood beams, architecturally rounded doorways, hardwood floors, two delicious wood fireplaces, flowing floorplan and gorgeous natural light flooding through casement windows. Designer bathrooms gleam with clean lines, primary features glass spa shower with glorious soaking tub; bright & breezy French doors lead to outdoor spaces ideally proportioned and tastefully imagined for instant indoor/outdoor living. Move-in ready, all wrapped in familiar, comforting feeling - welcome home.

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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: Verdugo Woodlands

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $199k1007k

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

Neighborhood: Verdugo Woodlands

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $17844227

* 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
Verdugo Woodlands Elementary School Primary Regular 818 32 7
Woodrow Wilson Middle School Middle Regular 1,183 46 8
Glendale Senior High School High Regular 2,582 101 6

Verdugo Woodlands Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 32
7
GreatSchools Rating

Woodrow Wilson Middle School

  • Education Level: Middle
  • # of students: 1,183
  • # of teachers: 46
8
GreatSchools Rating

Glendale Senior High School

  • Education Level: High
  • # of students: 2,582
  • # of teachers: 101
6
GreatSchools Rating
 

$1,062,000$1,298,000$1,180,000

PURCHASE PRICE

$3,627$4,433$4,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,030
EXPENSES Loan Payment -$4,099
Property Tax -$1,135
Property Insurance -$71
Property Management Fees -$197
CASH FLOW
-$1,471

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.

$1,180,000

PROJECTED PRICE

$4,030

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.5%
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$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$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$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$318,450

INVESTMENT

$318,450

Down Payment
$295,000
Rehab Estimate
$5,750
Closing Costs
$17,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,099

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $295,000
Loan Amount $885,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,620

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,030

    LIST RENT
  • $2.23

    LIST RENT PER SQFT
  • $4,183

    COMP ESTIMATED VALUE
  • $2.32

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,9503$4,0004$4,0305$4,300
$4,300
RENT COMPS ANALYSIS
  • 1648 Santa Barbara Avenue Glendale, CA 4
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1926
    • Rent
    • Rent Per SQFT
    •  
    • $4,030
    • $2.23
    •  
  • 3623 Las Palmas Avenue Glendale, CA 1
    • 3 beds 1 baths ∙ 1,673 Sqft ∙ Built 1932 3 beds 1 baths ∙ 1,673 Sqft ∙ Built 1932
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.27
    •  
  • 3525 Buena Vista Avenue Glendale, CA 2
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1931
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.37
    •  
  • 3469 Las Palmas Ave Avenue Glendale, CA 3
    • 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1925 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1925
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.33
    •  
  • 3445 Las Palmas Avenue Glendale, CA 5
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1925
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.30
    •  
PROPERTY LISTING DETAILS
Claudia Hipolito
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21678006
Last Updated: 01/09/2021
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