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PROPERTY INFO
FACTS
- Single Family
- Built In 1926
- Price/Sqft : $595.24
- 10 Days on Market
- MLS # : 320004766
- Updated Date : 02/06/2021 at 20:38
CONSTRUCTION
- Beds : 3
- Floor Size : 1,848 sqft
- Baths : 1 full
Listing Agent
Nexthome Luxe Group
Listing Agent's Description
This Spanish home boasts original character and charm throughout. Original details include a step down living room with hardwood floors, cathedral ceiling and a fireplace. Tree top views are enjoyed from the balcony, which overlooks a sparking pool. The main floor features two bedrooms that are nicely separated by the full bath. On the lower level, the third bedroom and spacious den await. Updating the bath and generous laundry room on this lower level can transform this space into a private suite making it an ideal situation for extended family living. Don't miss out on this very special home available for the first time in 45 years!
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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: El Miradero
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: El Miradero
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,770 |
| EXPENSES | Loan Payment | -$3,821 |
| Property Tax | -$1,058 | |
| Property Insurance | -$72 | |
| Property Management Fees | -$185 | |
|
CASH FLOW
-$1,365
|
||
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
$3,770
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 7.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$297,250
LOAN DETAILS
$3,821
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $275,000 |
| Loan Amount | $825,000 |
0.42
YEARS SAVED
$1,557
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,770
LIST RENT -
$2.04
LIST RENT PER SQFT
-
$4,431
COMP ESTIMATED VALUE -
$2.4
COMP AVG. RENT PER SQFT
Comps Range
-
1920 Chilton Drive Glendale, CA 2
- 3 beds 1 baths ∙ 1,848 Sqft ∙ Built 1926 3 beds 1 baths ∙ 1,848 Sqft ∙ Built 1926
- Rent
- Rent Per SQFT
- $3,770
- $2.04
-
1435 Lee Drive Glendale, CA 1
- 3 beds 1 baths ∙ 1,698 Sqft ∙ Built 1939 3 beds 1 baths ∙ 1,698 Sqft ∙ Built 1939
LEASED 06/19/20- Rent
- Rent Per SQFT
- $3,700
- $2.18
-
824 E Providencia Avenue Burbank, CA 3
- 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1930
LEASED 01/21/21- Rent
- Rent Per SQFT
- $4,500
- $2.67
-
1930 Chilton Drive Glendale, CA 4
- 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1924 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1924
LEASED 02/01/20- Rent
- Rent Per SQFT
- $4,500
- $2.37
-
1407 5th Street Glendale, CA 5
- 3 beds 3 baths ∙ 2,008 Sqft ∙ Built 1928 3 beds 3 baths ∙ 2,008 Sqft ∙ Built 1928
LEASED 07/14/20- Rent
- Rent Per SQFT
- $4,750
- $2.37
PROPERTY LISTING DETAILS
Nexthome Luxe Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 320004766
Last Updated: 02/06/2021
