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1681 Santa Maria Avenue Glendale, CA 91208

3 Beds 1 Baths 1,850 sqft Built 1940

$1,088,000

List Price

$3,890

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $588.11
  • 5 Days on Market
  • MLS # : P1-3174
  • Updated Date : 02/06/2021 at 08:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,850 sqft
  • Baths : 1 full
Listing Agent

Deasy Penner Podley

Listing Agent's Description

Traditional meets high tech! Location is in the Beautiful Verdugo Woodlands next to the Oakmont Country Club. Charming foyer with updated front door, glass, frame boasts as theft proof, featuring tempered glass sidelights. Plus extensive wainscoting, crown & casing molding. Living room features a fireplace, recessed LED lighting, dramatic cut out ceiling & French doors. Kitchen: quartz counters, custom birch soft close cabinets, glass & stainless backsplash, high efficiency stainless steel appliances and charming breakfast area. Light & bright large formal dining room with fireplace, closet and door to secluded relaxation yard. The spacious master suite features a large fantasy closet and a bath with dual vanities, custom lighting, custom tiles and shower with dual controls and shower heads. The office is great for a studio as it has soundproofing and large media system hookups. The fully fenced and private back yard is the place to have fun, entertain, BBQ, and playhouse and swing set. Covered patio with fountain, projector for outdoor movie nights & sound system. Plus Polymer scratch proof flooring, dual pane windows, full copper plumbing, newer sewer lines, upgraded 200 electrical, crown molding, HVAC system with humidifier and UV lamps, Alexa compatible smart thermostat, iPad control for the multiple security cameras, CAT networks, surround sound, smart switches & sensors, Alexa door locks, security system & lighting. Plus more, please see attached list!

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
Woodrow Wilson Middle School Middle Regular 1,183 46 8
Glendale Senior High School High Regular 2,582 101 6
Woodrow Wilson Middle School Middle Unknown NA

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

Woodrow Wilson Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$979,200$1,196,800$1,088,000

PURCHASE PRICE

$3,501$4,279$3,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,890
EXPENSES Loan Payment -$3,779
Property Tax -$1,046
Property Insurance -$72
Property Management Fees -$191
CASH FLOW
-$1,198

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.

$1,088,000

PROJECTED PRICE

$3,890

PROJECTED RENT

0.36%

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$294,070

INVESTMENT

$294,070

Down Payment
$272,000
Rehab Estimate
$5,750
Closing Costs
$16,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,779

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $272,000
Loan Amount $816,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$4,435

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,890

    LIST RENT
  • $2.1

    LIST RENT PER SQFT
  • $4,329

    COMP ESTIMATED VALUE
  • $2.34

    COMP AVG. RENT PER SQFT
Comps Range
$3,890
1$3,8902$3,9503$4,0004$4,2005$4,750
$4,750
RENT COMPS ANALYSIS
  • 1681 Santa Maria Avenue Glendale, CA 1
    • 3 beds 1 baths ∙ 1,850 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,850 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $3,890
    • $2.10
    •  
  • 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
    •  
  • 1811 Coro Terrace Glendale, CA 4
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1954
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.31
    •  
  • 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
Ed Dorini
Deasy Penner Podley
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-3174
Last Updated: 02/06/2021
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