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3385 E Chevy Chase Drive Glendale, CA 91206

3 Beds 4 Baths 2,022 sqft Built 1957

$1,449,000

List Price

$5,110

$4.9K - $5.4K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $716.62
  • 3 Days on Market
  • MLS # : SW20259540
  • Updated Date : 12/18/2020 at 16:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,022 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Of California, Inc.

Listing Agent's Description

Incredible opportunity to own a stunning mid-century home on one of the largest hill-top lots in Chevy Chase Canyon! Proudly nestled amongst mature trees, this private estate boasts epic valley views from nearly every corner of its 39,443 SqFt lot. Once inside, you’ll be immediately charmed by it’s timeless design. The living room offers a cozy stone fireplace, easy access to the back patio, & floor-to-ceiling windows. This area flows seamlessly to a formal dine and leads to the heart of the home where you’ll find a beautifully updated kitchen. Quartz counters, accented by a subway tile splash, beautiful mocha cabinetry & stainless appliances with dual ovens are just a few things that make this kitchen so perfect. A family room/den offers built-in cabinets & a natural stone fireplace is ideal for those cooler winter evenings. Down the hall is a large bedroom with private ensuite. You’ll also discover a large main suite with dual closets, private access to the back patio & private bath featuring separate shower/tub & dual vanity. Interior laundry room offers plenty of cabinet & counter space, utility sink, ½ bath and easy access to a breezeway that leads to a DETACHED CASITA. Ideal for Next-gen suite or mother-in-law quarters, the casita is private & offers a full bath! 2 Car garage and plenty of places to park make this home ideal for large gatherings. Best unobstructed views of Chevy Chase Country Club and beyond! Stunning!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chevy Chase

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $199k1058k

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

Neighborhood: Chevy Chase

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500Rent in $17844939

* 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
 

$1,304,100$1,593,900$1,449,000

PURCHASE PRICE

$4,599$5,621$5,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,110
EXPENSES Loan Payment -$5,346
Property Tax -$1,393
Property Insurance -$76
Property Management Fees -$250
CASH FLOW
-$1,956

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.

$1,449,000

PROJECTED PRICE

$5,110

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.0%
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$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$389,735

INVESTMENT

$389,735

Down Payment
$362,250
Rehab Estimate
$5,750
Closing Costs
$21,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$5,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $362,250
Loan Amount $1,086,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$2,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,110

    LIST RENT
  • $2.53

    LIST RENT PER SQFT
  • $4,361

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,2003$4,5004$5,110
$5,110
RENT COMPS ANALYSIS
  • 3385 E Chevy Chase Drive Glendale, CA 4
    • 3 beds 4 baths ∙ 2,022 Sqft ∙ Built 1957 3 beds 4 baths ∙ 2,022 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $5,110
    • $2.53
    •  
  • 2781 Mira Vista Drive Glendale, CA 1
    • 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1976
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.04
    •  
  • 1811 Coro Terrace Glendale, CA 2
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1954
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.31
    •  
  • 3852 Karen Lynn Drive Glendale, CA 3
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1969
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.12
    •  
PROPERTY LISTING DETAILS
Lorie Anne Auer
Exp Realty Of California, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20259540
Last Updated: 12/18/2020
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