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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $429.61
- 4 Days on Market
- MLS # : SR20251312
- Updated Date : 12/03/2020 at 21:42
CONSTRUCTION
- Beds : 3
- Floor Size : 1,513 sqft
- Baths : 2 full , 1 half
Listing Agent
Berkshire Hathaway Homeservices California Properties
Listing Agent's Description
Clean, sharp, and bright townhouse style unit with its own entrance and direct garage access. Conveniently located in this desired Burbank neighborhood and close to studios, several parks, abundant restaurants, the LA Zoo, and Griffith Park. Enter the living room with wood floors, high ceilings, and recessed lighting. The formal dining area is open to the kitchen and has wood floors and patio access. The kitchen has tile floors and countertops, a breakfast bar, a large pantry, and lovely garden/courtyard views. There are 3 good size bedrooms including the master suite with plenty of closet space and a private bathroom. With plenty of storage space, direct garage access, and laundry in the unit this beautiful unit will not last long.
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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: Media Center
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Media Center
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,400 |
| EXPENSES | Loan Payment | -$2,398 |
| Property Tax | -$606 | |
| Property Insurance | -$64 | |
| HOA | -$448 | |
| Property Management Fees | -$167 | |
|
CASH FLOW
-$282
|
||
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.
$650,000
PROJECTED PRICE
$3,400
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.56% |
| Appreciation Year (1-5) | 11.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.05% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$178,000
LOAN DETAILS
$2,398
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $162,500 |
| Loan Amount | $487,500 |
4
YEARS SAVED
$29,039
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,400
LIST RENT -
$2.25
LIST RENT PER SQFT
-
$3,722
COMP ESTIMATED VALUE -
$2.46
COMP AVG. RENT PER SQFT
Comps Range
-
3003 W Riverside Drive Burbank, CA 1
- 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $3,400
- $2.25
-
10712 W Toluca Court Toluca Lake, CA 2
- 3 beds 3 baths ∙ 1,788 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,788 Sqft ∙ Built 2017
LEASED 09/30/19- Rent
- Rent Per SQFT
- $4,400
- $2.46
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservices California Properties
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SR20251312
Last Updated: 12/03/2020
