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2004 W Oak Street Burbank, CA 91506

3 Beds 1 Baths 1,499 sqft Built 1929

$889,000

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1929
  • Price/Sqft : $593.06
  • 5 Days on Market
  • MLS # : P1-2982
  • Updated Date : 01/22/2021 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,499 sqft
  • Baths : 1 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Burbank Traditional Tudor with charming period details, a permitted ADU and a large pool. Each room is flooded with light, and the original hardwoods and built-ins provide character and warmth throughout. While the home retains its charm, it features a thoughtfully remodeled kitchen, A/C, updated plumbing and electrical. The home feels spacious thanks to an efficient layout that flows effortlessly between rooms. Beyond the kitchen is a laundry area with storage and a door leading to the spacious backyard. The newly built ADU is well designed, open and airy, and the perfect spot for your home office, guest space or rental for passive income. Beautiful mature avocado, lime, and lemon trees. Located on a tree lined street only half of a mile from Disney Studios, and near WB and NBC Studios, Whole Foods, Coffee Commissary and plethora of shops and restaurants. Don't miss this gem; in this coveted location, it won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: Rancho Adjacent

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k871k

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

Neighborhood: Rancho Adjacent

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
R.l. Stevenson Elementary School Primary Regular 572 22 8
David Starr Jordan Middle School Middle Regular 1,080 41 6
John Burroughs High School High Regular 2,649 108 8

R.l. Stevenson Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 22
8
GreatSchools Rating

David Starr Jordan Middle School

  • Education Level: Middle
  • # of students: 1,080
  • # of teachers: 41
6
GreatSchools Rating

John Burroughs High School

  • Education Level: High
  • # of students: 2,649
  • # of teachers: 108
8
GreatSchools Rating
 

$800,100$977,900$889,000

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$3,088
Property Tax -$829
Property Insurance -$63
Property Management Fees -$176
CASH FLOW
-$566

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.

$889,000

PROJECTED PRICE

$3,590

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 7.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$241,335

INVESTMENT

$241,335

Down Payment
$222,250
Rehab Estimate
$5,750
Closing Costs
$13,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,088

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $222,250
Loan Amount $666,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$22,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $4,283

    COMP ESTIMATED VALUE
  • $2.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,5903$4,4004$4,4955$4,675
$4,675
RENT COMPS ANALYSIS
  • 2004 W Oak Street Burbank, CA 2
    • 3 beds 1 baths ∙ 1,499 Sqft ∙ Built 1929 3 beds 1 baths ∙ 1,499 Sqft ∙ Built 1929
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $2.39
    •  
  • 1304 W Morningside Drive Burbank, CA 1
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1941
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.38
    •  
  • 731 N Niagara Street Burbank, CA 3
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1936 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1936
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.84
    •  
  • 410 N Frederic Street Burbank, CA 4
    • 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1947
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $3.00
    •  
  • 421 N Fairview Street Burbank, CA 5
    • 3 beds 1 baths ∙ 1,456 Sqft ∙ Built 1925 3 beds 1 baths ∙ 1,456 Sqft ∙ Built 1925
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,675
    • $3.21
    •  
PROPERTY LISTING DETAILS
Ryan Hanke
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2982
Last Updated: 01/22/2021
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