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1992 E Glenoaks Boulevard Glendale, CA 91206

3 Beds 2 Baths 1,734 sqft Built 1981

$895,000

List Price

$3,410

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $516.15
  • 3 Days on Market
  • MLS # : 320004122
  • Updated Date : 11/20/2020 at 16:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,734 sqft
  • Baths : 2 full
Listing Agent

Johnhart Real Estate

Listing Agent's Description

Situated in Glendale's sought-after Glenoaks Canyon resides a breathtaking home with 3-bedrooms & 2-bathrooms! This property is located on a 6,344-SqFt lot, offering a nice front yard & an attached 2-car garage. Enclosed sunroom entry leads you to the front door and as you make your way inside, you are greeted with a bright & spacious floorplan that consists of 1,734-SqFt of living space. Formal living room with marble fireplace, large picture windows, hardwood flooring throughout, baseboard and crown molding, recessed lighting and plenty of storage space throughout. Adjacent family room with sliding doors leads to the spacious backyard, perfect for entertaining. Beautiful kitchen with granite countertops and built-in appliances. Separate dining room with charming built-ins! Master bedroom with walk-in closet and private bathroom with granite vanity countertop. Two additional bedrooms are well-illuminated and spacious. Outside find a private secluded yard with a lemon tree, a nice green lawn & a corner patio space where you can add outdoor furniture! Part of the Glendale Unified School District, close to In-N-Out Burger, Adventist Hospital, the Glenoaks Park & even Freeways! Beauty, Location & all the right details!

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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: Glenoaks Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $199k944k

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

Neighborhood: Glenoaks Canyon

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800400042004400Rent in $17844464

* 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
Glenoaks Elementary School Primary Regular 556 22 6
Woodrow Wilson Middle School Middle Regular 1,183 46 8
Glendale Senior High School High Regular 2,582 101 6

Glenoaks Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 22
6
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
 

$805,500$984,500$895,000

PURCHASE PRICE

$3,069$3,751$3,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,410
EXPENSES Loan Payment -$3,302
Property Tax -$861
Property Insurance -$69
Property Management Fees -$167
CASH FLOW
-$989

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.

$895,000

PROJECTED PRICE

$3,410

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$242,925

INVESTMENT

$242,925

Down Payment
$223,750
Rehab Estimate
$5,750
Closing Costs
$13,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,302

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $223,750
Loan Amount $671,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$6,417

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,410

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $3,555

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,1953$3,2504$3,4105$3,500
$3,500
RENT COMPS ANALYSIS
  • 1992 E Glenoaks Boulevard Glendale, CA 4
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $3,410
    • $1.97
    •  
  • 240 N Adams Street Glendale, CA 1
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1981
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.89
    •  
  • 345 N Kenwood Street Glendale, CA 2
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1990
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $2.22
    •  
  • 1616 N Verdugo Road Glendale, CA 3
    • 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 2001
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.20
    •  
  • 644 Atkins Drive Glendale, CA 5
    • 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1985
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.89
    •  
PROPERTY LISTING DETAILS
Narbeh Khachian
Johnhart Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320004122
Last Updated: 11/20/2020
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