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2608 N Buena Vista Street Burbank, CA 91504

3 Beds 1 Baths 1,113 sqft Built 1951

$758,888

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $681.84
  • 6 Days on Market
  • MLS # : CV21017681
  • Updated Date : 02/02/2021 at 16:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,113 sqft
  • Baths : 1 full
Listing Agent

Cristal Sellar Services, Inc.

Listing Agent's Description

A charming home just hit the market in Burbank!! This home features 3 bedrooms, 1 bathroom, and 1,113 sq ft of living space. The home comes equipped with recessed lighting, dual pane windows, and has been freshly painted. The kitchen features luxury vinyl, granite countertops, and a brand-new gas range. The living room possesses genuine hardwood floors, an abundance of natural light, and overlooks the well-kept backyard. Outside you will find a perfectly manicured lawn, raised garden beds, and a covered patio ideal for entertaining. This property also has a detached 2 car garage with access from the backyard, and the entire HVAC system was replaced last year. This home is zoned for the highly-coveted Burbank Unified school district. The Burbank Unified School District is considered one of the most highest-achieving, competitive schools in the Los Angeles area with an Academic Performance Index (API) score continuously well above county and state averages. Minutes away from the 5 freeway.

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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: 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
George Washington Elementary School Primary Regular 465 21 7
Luther Burbank Middle School Middle Regular 1,102 45 6
Burbank High School High Regular 2,606 106 8

George Washington Elementary School

  • Education Level: Primary
  • # of students: 465
  • # of teachers: 21
7
GreatSchools Rating

Luther Burbank Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 45
6
GreatSchools Rating

Burbank High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 106
8
GreatSchools Rating
 

$682,999$834,777$758,888

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$2,636
Property Tax -$708
Property Insurance -$54
Property Management Fees -$146
CASH FLOW
-$564

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.

$758,888

PROJECTED PRICE

$2,980

PROJECTED RENT

0.39%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$206,855

INVESTMENT

$206,855

Down Payment
$189,722
Rehab Estimate
$5,750
Closing Costs
$11,383

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,636

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $189,722
Loan Amount $569,166
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$13,870

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $2.68

    LIST RENT PER SQFT
  • $2,688

    COMP ESTIMATED VALUE
  • $2.42

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$2,9803$3,2004$3,2005$3,500
$3,500
RENT COMPS ANALYSIS
  • 2608 N Buena Vista Street Burbank, CA 2
    • 3 beds 1 baths ∙ 1,113 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,113 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $2.68
    •  
  • 2144 N Buena Vista Street Burbank, CA 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1942
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.23
    •  
  • 1521 N Naomi Street Burbank, CA 3
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1941
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.51
    •  
  • 9925 Roscoe Boulevard Sun Valley, CA 4
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1956
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.52
    •  
  • 651 Price Drive Burbank, CA 5
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1952
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.40
    •  
PROPERTY LISTING DETAILS
John Sazon
Cristal Sellar Services, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21017681
Last Updated: 02/02/2021
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