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1900 Karen Street Burbank, CA 91504

3 Beds 2 Baths 2,197 sqft Built 1951

$1,299,999

List Price

$4,050

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $591.72
  • 7 Days on Market
  • MLS # : 21675084
  • Updated Date : 01/08/2021 at 09:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,197 sqft
  • Baths : 2 full
Listing Agent

Psl Realty

Listing Agent's Description

Truly one of a kind opportunity to purchase this stunning Burbank hillside home with Breathtaking views!Tastefully remodeled and one of the finest homes in this very sought after location featuring 3br, 2bt and a very desirable open floor plan. Separate family and dining room equipped with modern floors, recessed lighting, vaulted ceilings and 2 fireplaces and separate laundry room.Beautiful gourmet kitchen with top of the line built-ins, quartz countertops,Brushed stainless steel sink and newer appliances.Large oversized bedrooms, updated modern bathrooms and tons of storage spaces. The backyard is a tropical paradise, private with a heated pebble tech pool( resurfaced 2020), waterfall, mature palm trees, and a dreamy covered patio kitchen with professional Viking appliances, which include: grill, warmer, fridge and a separate bathroom w/steam shower. This is the one you've been waiting for and not to be missed! Offer deadline is Wednesday 1/13/21 at 2pm.

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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: Hillside District

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k917k

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

Neighborhood: Hillside District

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2180020002200240026002800300032003400360038004000Rent in $17844015

* 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
Thomas Jefferson Elementary School Primary Regular 749 25 8
John Muir Middle School Middle Regular 1,408 55 8
Burbank High School High Regular 2,606 106 8

Thomas Jefferson Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 25
8
GreatSchools Rating

John Muir Middle School

  • Education Level: Middle
  • # of students: 1,408
  • # of teachers: 55
8
GreatSchools Rating

Burbank High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 106
8
GreatSchools Rating
 

$1,169,999$1,429,999$1,299,999

PURCHASE PRICE

$3,645$4,455$4,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,050
EXPENSES Loan Payment -$4,515
Property Tax -$1,212
Property Insurance -$80
Property Management Fees -$198
CASH FLOW
-$1,956

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.

$1,299,999

PROJECTED PRICE

$4,050

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.2%
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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$350,250

INVESTMENT

$350,250

Down Payment
$325,000
Rehab Estimate
$5,750
Closing Costs
$19,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,515

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $325,000
Loan Amount $974,999
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$169

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,050

    LIST RENT
  • $1.84

    LIST RENT PER SQFT
  • $4,075

    COMP ESTIMATED VALUE
  • $1.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,750
1$3,7502$4,0503$4,1504$4,2505$4,800
$4,800
RENT COMPS ANALYSIS
  • 1900 Karen Street Burbank, CA 2
    • 3 beds 2 baths ∙ 2,197 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,197 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.84
    •  
  • 615 E Walnut Avenue Burbank, CA 1
    • 3 beds 2 baths ∙ 2,245 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,245 Sqft ∙ Built 1951
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.67
    •  
  • 637 Bethany Road Burbank, CA 3
    • 4 beds 1 baths ∙ 2,355 Sqft ∙ Built 1951 4 beds 1 baths ∙ 2,355 Sqft ∙ Built 1951
    property image
    LEASED 08/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $1.76
    •  
  • 949 University Avenue Burbank, CA 4
    • 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1951 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1951
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $1.91
    •  
  • 800 Stanford Road Burbank, CA 5
    • 3 beds 3 baths ∙ 2,310 Sqft ∙ Built 1953 3 beds 3 baths ∙ 2,310 Sqft ∙ Built 1953
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.08
    •  
PROPERTY LISTING DETAILS
Carlos Villegas
Psl Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21675084
Last Updated: 01/08/2021
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