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2313 Hollister Terrace Terrace Glendale, CA 91206

3 Beds 2 Baths 1,569 sqft Built 1938

$976,000

List Price

$3,620

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1938
  • Price/Sqft : $622.05
  • 2 Days on Market
  • MLS # : 20654378
  • Updated Date : 11/02/2020 at 17:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,569 sqft
  • Baths : 2 full
Listing Agent

Dream Realty Asset Mgt, Inc.

Listing Agent's Description

Cape Cod-style home situated on a quiet street in Glenoaks Canyon. This 1938 Home has retained a number of original architectural details. It features a step down living room with French bay window, fireplace and treyed ceiling. A graceful archway transitions to the living room, and central dining room, throughout the first floor. The dining room opens to an updated kitchen and French doors to the side yard. A beautiful staircase ascends to the second floor. There are two bedrooms upstairs with an artistic round ceiling, one bath room with tub and separate stall shower and dual sinks. The third bedroom is located down stairs adjacent to the 3/4 bath. This highly sought after friendly neighborhood, close to the park and easy access to the 134 and 2 Freeways. Close DTLA. Must see, won't last! .

SEE MORE

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: 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
 

$878,400$1,073,600$976,000

PURCHASE PRICE

$3,258$3,982$3,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,620
EXPENSES Loan Payment -$3,601
Property Tax -$939
Property Insurance -$65
Property Management Fees -$177
CASH FLOW
-$1,162

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.

$976,000

PROJECTED PRICE

$3,620

PROJECTED RENT

0.37%

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$264,390

INVESTMENT

$264,390

Down Payment
$244,000
Rehab Estimate
$5,750
Closing Costs
$14,640

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,601

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $244,000
Loan Amount $732,000
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$4,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,620

    LIST RENT
  • $2.31

    LIST RENT PER SQFT
  • $3,683

    COMP ESTIMATED VALUE
  • $2.35

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,6203$4,1004$4,2005$4,450
$4,450
RENT COMPS ANALYSIS
  • 2313 Hollister Terrace Terrace Glendale, CA 2
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1938
    • Rent
    • Rent Per SQFT
    •  
    • $3,620
    • $2.31
    •  
  • 2230 E Glenoaks Boulevard Glendale, CA 1
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1926
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.28
    •  
  • 4843 Floristan Avenue Los Angeles, CA 3
    • 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 1924 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 1924
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.27
    •  
  • 2656 E Glenoaks Boulevard Glendale, CA 4
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1935
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.38
    •  
  • 2641 Hollister Terrace Glendale, CA 5
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1935
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,450
    • $2.46
    •  
PROPERTY LISTING DETAILS
Julie J. Wee
Dream Realty Asset Mgt, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20654378
Last Updated: 11/02/2020
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