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

1653 Country Club Drive Glendale, CA 91208

3 Beds 1 Baths 2,072 sqft Built 1931

$1,100,000

List Price

$4,090

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1931
  • Price/Sqft : $530.89
  • 6 Days on Market
  • MLS # : 320004457
  • Updated Date : 01/08/2021 at 08:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,072 sqft
  • Baths : 1 full
Listing Agent

Keller Williams R.e. Services

Listing Agent's Description

This is a true fixer. It is a conservatorship sale and will require court confirmation. The house has good bones but will require repairs. The hardwood floors appear to be in good condition. The rooms are all spacious and there is interesting architecture. There is a small basement with the furnace. It is sold as is and no work will be done by seller. The cabinet doors will be returned to the cabinets after the estate sale is over. There is a large stained glass window in the front of the house which needs repair but is lovely. The lot is large and the neighborhood is fantastic. One block from Oakmont Country Club and very close to Montrose.

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: 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
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,681$4,499$4,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,090
EXPENSES Loan Payment -$3,821
Property Tax -$1,058
Property Insurance -$77
Property Management Fees -$200
CASH FLOW
-$1,066

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.

$1,100,000

PROJECTED PRICE

$4,090

PROJECTED RENT

0.37%

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$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$9,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,090

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $4,377

    COMP ESTIMATED VALUE
  • $2.11

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$4,0903$4,3004$4,3005$4,750
$4,750
RENT COMPS ANALYSIS
  • 1653 Country Club Drive Glendale, CA 2
    • 3 beds 1 baths ∙ 2,072 Sqft ∙ Built 1931 3 beds 1 baths ∙ 2,072 Sqft ∙ Built 1931
    • Rent
    • Rent Per SQFT
    •  
    • $4,090
    • $1.97
    •  
  • 3604 Angelus Avenue Glendale, CA 1
    • 3 beds 1 baths ∙ 2,100 Sqft ∙ Built 1931 3 beds 1 baths ∙ 2,100 Sqft ∙ Built 1931
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.71
    •  
  • 3445 Las Palmas Avenue Glendale, CA 3
    • 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
    •  
  • 1505 Royal Boulevard Glendale, CA 4
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 1951 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 1951
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.09
    •  
  • 1425 Beaudry Boulevard Glendale, CA 5
    • 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 1951
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.35
    •  
PROPERTY LISTING DETAILS
Patricia Phillips
Keller Williams R.e. Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320004457
Last Updated: 01/08/2021
BESbswy