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3140 Verdugo Road Glassell Park, CA 90065

4 Beds 2 Baths 1,958 sqft Built 1929

$729,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1929
  • Price/Sqft : $372.32
  • 6 Days on Market
  • MLS # : MB21007225
  • Updated Date : 01/12/2021 at 16:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,958 sqft
  • Baths : 2 full
Listing Agent

Century 21 Realty Masters

Listing Agent's Description

FIXER! Financeable property. Prime Glassell Park location, Owner User looking to renovate a home with built in equity, Developer/Builder/Investor this property is priced considerably under market value. Close to Downtown LA, Glendale, and near 5, 2, 10, 110, 134, 210, 405 fwys.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Glassell Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750kPrice in $187k751k

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

Neighborhood: Glassell Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200Rent in $16353350

* 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
Glassell Park Elementary School Primary Regular 452 20 2
Washington Irving Middle School Math Music Engineering Mag Middle Regular 632 31 6
Puc Early College Academy For Leaders And Scholars High Charter 446 20 6

Glassell Park Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 20
2
GreatSchools Rating

Washington Irving Middle School Math Music Engineering Mag

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 31
6
GreatSchools Rating

Puc Early College Academy For Leaders And Scholars

  • Education Level: High
  • # of students: 446
  • # of teachers: 20
6
GreatSchools Rating
 

$656,100$801,900$729,000

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$2,532
Property Tax -$749
Property Insurance -$74
Property Management Fees -$167
CASH FLOW
-$122

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.

$729,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$198,935

INVESTMENT

$198,935

Down Payment
$182,250
Rehab Estimate
$5,750
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,532

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$45,055

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
  • $1.74

    LIST RENT PER SQFT
  • $3,342

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0003$3,4004$3,800
$3,800
RENT COMPS ANALYSIS
  • 3140 Verdugo Road Glassell Park, CA 3
    • 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 1929 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 1929
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.74
    •  
  • 3026 Division Street Los Angeles, CA 1
    • 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 1922 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 1922
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.49
    •  
  • 2641 Merced Street Los Angeles, CA 2
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1910 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1910
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.74
    •  
  • 4909 Baltimore Street Highland Park, CA 4
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1922 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1922
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.89
    •  
PROPERTY LISTING DETAILS
Fabian Garcia
Century 21 Realty Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: MB21007225
Last Updated: 01/12/2021
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