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2430 N Lamer Street Burbank, CA 91504

4 Beds 2 Baths 1,999 sqft Built 1941

$949,000

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1941
  • Price/Sqft : $474.74
  • 3 Days on Market
  • MLS # : 320004040
  • Updated Date : 11/13/2020 at 18:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,999 sqft
  • Baths : 2 full
Listing Agent

Brighton St. Properties

Listing Agent's Description

1999 square feet with four bedrooms and an office in a classic Burbank neighborhood north of Glenoaks, this home will make it all happen for you. At $475/square foot, it's well under the neighborhood average and in move-in condition. The kitchen and bathrooms are vintage and completely functional, but a buyer with vision can turn it into a showplace. Existing copper plumbing and a 200amp electrical panel will save you a bundle on improvements. The driveway is gated so the detached two car garage can house the cars while kids play basketball in the driveway, or park in the driveway and turn the garage into a rec room or workshop. Next to the garage is a grassy play area leading to a concrete patio/zen garden. Great neighborhood, great schools, great city... what are you waiting for?

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: 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
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$3,501
Property Tax -$885
Property Insurance -$75
Property Management Fees -$192
CASH FLOW
-$743

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.

$949,000

PROJECTED PRICE

$3,910

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

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

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$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$21,895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,910

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $4,303

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,8833$3,9104$3,9505$4,900
$4,900
RENT COMPS ANALYSIS
  • 2430 N Lamer Street Burbank, CA 3
    • 4 beds 2 baths ∙ 1,999 Sqft ∙ Built 1941 4 beds 2 baths ∙ 1,999 Sqft ∙ Built 1941
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,910
    • $1.96
    •  
  • 2316 Peyton Avenue Burbank, CA 1
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1941
    property image
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.96
    •  
  • 3012 N Keystone Street Burbank, CA 2
    • 4 beds 2 baths ∙ 1,668 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,668 Sqft ∙ Built 1958
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,883
    • $2.33
    •  
  • 626 Jamestown Road Burbank, CA 4
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 1952 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 1952
    property image
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.01
    •  
  • 2937 N Lamer Street Burbank, CA 5
    • 3 beds 3 baths ∙ 2,121 Sqft ∙ Built 1958 3 beds 3 baths ∙ 2,121 Sqft ∙ Built 1958
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $2.31
    •  
PROPERTY LISTING DETAILS
Phil Simon
Brighton St. Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 320004040
Last Updated: 11/13/2020
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