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500 E Valencia Avenue #105 Burbank, CA 91501

3 Beds 4 Baths 1,690 sqft Built 2007

$705,000

List Price

$3,810

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $417.16
  • 2 Days on Market
  • MLS # : P1-2850
  • Updated Date : 01/09/2021 at 18:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,690 sqft
  • Baths : 3 full , 1 half
Listing Agent

Dilbeck Real Estate

Listing Agent's Description

This spacious 3 story Condominium is perfectly located in one of Burbank's most desirable neighborhoods. See 500Valencia105.com for more info. The main level open floor plan allows for versatile use and includes a kitchen with abundant counter space, and a large breakfast bar. In addition to the open living/dining room space, a guest bath is also located on the main level. The 2nd level adorns a pair of bedroom suites each with their own full bathrooms and balconies. A graciously sized primary suite is located on the 3rd level and includes a private balcony with mountain views, and large walk-in closet. This level also offers in-unit laundry. This well maintained complex is self managed and offers modest HOA dues at $250 per month. The building offers secured access and a common patio area with convenient built in BBQ. All this plus nearby access to Trader Joes, Walgreens, Ralphs, and Ikea. Location, functionality, and convenience await the lucky buyers.

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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
Joaquin Miller Elementary School Primary Regular 738 26 8
John Muir Middle School Middle Regular 1,408 55 8
Burbank High School High Regular 2,606 106 8

Joaquin Miller Elementary School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 26
8
GreatSchools Rating

John Muir Middle School

  • Education Level: Middle
  • # of students: 1,408
  • # of teachers: 55
8
GreatSchools Rating

Burbank High School

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

$634,500$775,500$705,000

PURCHASE PRICE

$3,429$4,191$3,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,810
EXPENSES Loan Payment -$2,449
Property Tax -$698
Property Insurance -$68
HOA -$250
Property Management Fees -$187
CASH FLOW
$159

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.

$705,000

PROJECTED PRICE

$3,810

PROJECTED RENT

0.54%

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$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$192,575

INVESTMENT

$192,575

Down Payment
$176,250
Rehab Estimate
$5,750
Closing Costs
$10,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,449

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $176,250
Loan Amount $528,750
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$69,776

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,810

    LIST RENT
  • $2.25

    LIST RENT PER SQFT
  • $3,781

    COMP ESTIMATED VALUE
  • $2.24

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,5003$3,5004$3,8105$4,695
$4,695
RENT COMPS ANALYSIS
  • 500 E Valencia Avenue Burbank, CA 4
    • 3 beds 4 baths ∙ 1,690 Sqft ∙ Built 2007 3 beds 4 baths ∙ 1,690 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $3,810
    • $2.25
    •  
  • 414 E Valencia Avenue Burbank, CA 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2006
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.06
    •  
  • 540 E Angeleno Avenue Burbank, CA 2
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 2007
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.05
    •  
  • 555 E Santa Anita Burbank, CA 3
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2005
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.32
    •  
  • 1059 Elm Avenue Glendale, CA 5
    • 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2019
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,695
    • $2.52
    •  
PROPERTY LISTING DETAILS
Christopher Sullivan
Dilbeck Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: P1-2850
Last Updated: 01/09/2021
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