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3600 Rosemary Avenue Glendale, CA 91208

3 Beds 3 Baths 1,852 sqft Built 1930

$1,200,000

List Price

$3,980

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1930
  • Price/Sqft : $647.95
  • 7 Days on Market
  • MLS # : 21693658
  • Updated Date : 02/18/2021 at 15:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,852 sqft
  • Baths : 3 full
Listing Agent

Sotheby's International Realty

Listing Agent's Description

Welcome to Sparr Heights. This absolutely gorgeous Spanish style home is just a few blocks below Honolulu Ave & the charming shops & restaurants of Montrose. This stunning 1930 gem is ready to move in. With views of the Verdugo Mountains & a quiet tree-lined street. The home has hardwood floors throughout with a fireplace in the living room. The formal dining room with built-ins. The kitchen has stainless steel high-end appliances & beautifully updated, with dual ovens, stovetop, dishwasher, washer, dryer. A lovely breakfast nook to eat-in overlooking the front yard. In addition to the 3 generous sized bedrooms & 3 bathrooms & large private master suite, there is a separate home office/private studio (potential ADU with bathroom). The master bedroom leads out through French doors to a wonderful backyard garden with fruit trees & mature landscaping. A two-car garage. The house has updated plumbing, HVAC, and a 200 Amp upgrade & power for your Electric Vehicle. Don't miss this one!

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)
  • 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]
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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: Sparr Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $199k909k

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

Neighborhood: Sparr Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q218002000220024002600280030003200340036003800Rent in $17633874

* 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
Rosemont Middle School Middle Regular 1,269 47 9
Crescenta Valley Senior High School High Regular 2,693 97 9
Rosemont Middle School Middle Unknown NA

Rosemont Middle School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 47
9
GreatSchools Rating

Crescenta Valley Senior High School

  • Education Level: High
  • # of students: 2,693
  • # of teachers: 97
9
GreatSchools Rating

Rosemont Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$1,080,000$1,320,000$1,200,000

PURCHASE PRICE

$3,582$4,378$3,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,980
EXPENSES Loan Payment -$4,168
Property Tax -$1,154
Property Insurance -$72
Property Management Fees -$195
CASH FLOW
-$1,609

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.

$1,200,000

PROJECTED PRICE

$3,980

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 8.7%
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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,750

INVESTMENT

$323,750

Down Payment
$300,000
Rehab Estimate
$5,750
Closing Costs
$18,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,168

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $300,000
Loan Amount $900,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$674

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,980

    LIST RENT
  • $2.15

    LIST RENT PER SQFT
  • $4,297

    COMP ESTIMATED VALUE
  • $2.32

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$3,9503$3,9804$4,0005$4,300
$4,300
RENT COMPS ANALYSIS
  • 3600 Rosemary Avenue Glendale, CA 3
    • 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 1930 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 1930
    • Rent
    • Rent Per SQFT
    •  
    • $3,980
    • $2.15
    •  
  • 4453 El Camino Corto La Canada Flintridge, CA 1
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1950
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.28
    •  
  • 3525 Buena Vista Avenue Glendale, CA 2
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1931 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1931
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.37
    •  
  • 3469 Las Palmas Ave Avenue Glendale, CA 4
    • 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1925 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1925
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.33
    •  
  • 3445 Las Palmas Avenue Glendale, CA 5
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1925 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1925
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.30
    •  
PROPERTY LISTING DETAILS
Brian V Moore
Sotheby's International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21693658
Last Updated: 02/18/2021
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