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

1824 Los Encinos Avenue Glendale, CA 91208

3 Beds 1 Baths 1,674 sqft Built 1931

$1,050,000

List Price

$3,690

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1931
  • Price/Sqft : $627.24
  • 7 Days on Market
  • MLS # : P1-2318
  • Updated Date : 11/18/2020 at 13:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,674 sqft
  • Baths : 1 full
Listing Agent

Diggs

Listing Agent's Description

A rare light filled Spanish Style Home in coveted Verdugo Woodlands. This made-for-entertainment home features a large central dining room, modern contemporary kitchen with 6 burner Viking range, warm European style cabinets and polished concrete floors. A glass door leads to a lush Saltillo tiled patio - perfect for al fresco dining. A romantic Living Room features wood beamed ceiling, ornate feature fireplace, and arched picture window. The bedroom wing contains 3 bedrooms and 2 baths. One bedroom features a soaring wood ceiling and is large enough to share. The primary bedroom is even larger, featuring a luxe ensuite bath and stunning contemporary library. This was once the single car garage and was improved by a previous owner without permit.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
John C. Fremont Elementary School Primary Regular 690 25 8
Rosemont Middle School Middle Regular 1,269 47 9
Crescenta Valley Senior High School High Regular 2,693 97 9

John C. Fremont Elementary School

  • Education Level: Primary
  • # of students: 690
  • # of teachers: 25
8
GreatSchools Rating

Rosemont Middle School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 47
9
GreatSchools Rating

Crescenta Valley Senior High School

  • Education Level: High
  • # of students: 2,693
  • # of teachers: 97
9
GreatSchools Rating
 

$945,000$1,155,000$1,050,000

PURCHASE PRICE

$3,321$4,059$3,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,690
EXPENSES Loan Payment -$3,874
Property Tax -$1,010
Property Insurance -$68
Property Management Fees -$181
CASH FLOW
-$1,442

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.

$1,050,000

PROJECTED PRICE

$3,690

PROJECTED RENT

0.35%

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

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$284,000

INVESTMENT

$284,000

Down Payment
$262,500
Rehab Estimate
$5,750
Closing Costs
$15,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,500
Loan Amount $787,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,690

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $3,817

    COMP ESTIMATED VALUE
  • $2.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,2503$3,6904$4,3005$4,750
$4,750
RENT COMPS ANALYSIS
  • 1824 Los Encinos Avenue Glendale, CA 3
    • 3 beds 1 baths ∙ 1,674 Sqft ∙ Built 1931 3 beds 1 baths ∙ 1,674 Sqft ∙ Built 1931
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,690
    • $2.20
    •  
  • 1852 Alpha Road Glendale, CA 1
    • 3 beds 1 baths ∙ 1,355 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,355 Sqft ∙ Built 1940
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.18
    •  
  • 3426 Rosemary Avenue Glendale, CA 2
    • 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1941
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.29
    •  
  • 3445 Las Palmas Avenue Glendale, CA 4
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1925
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.30
    •  
  • 1425 Beaudry Boulevard Glendale, CA 5
    • 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 1951
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $2.35
    •  
PROPERTY LISTING DETAILS
Kendyl Young
Diggs
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2318
Last Updated: 11/18/2020
BESbswy