MULTI-FAMILY OPPORTUNITY

Transcription

1 MULTI-FAMILY OPPORTUNITY 3155 Pearl Dr, Fullerton, CA Exclusively Listed By Richard Bell Office Cell Conveniently located in "Gems" area of Fullerton All 2/1.75s. Most units with new flooring and all with private patios. Separately metered for gas and electric. Rebuilt stairs. Six single car garages plus laundry room for extra income.

2 EXCLUSIVELY OFFERS FOR SALE 3155 Pearl Dr. Fullerton, CA 4 Units Price: $1,195,000 Down: $418,250 35% Loan: $776,750 Interest Rate 4.3% INVESTMENT HIGHLIGHTS Current Market Rents Rents * Each Unit has an enclosed patio and single car garage Gross Rent Multiplier: * All large 2 Bd/ 1.75 Ba Units Cap Rate: 4.5% 4.7% *All units are fully occupied. Cost Per Unit $298,750 $298,750 *On site laundry equipment for extra income Cost Per Square Foot: $ $ * Individual metered gas and electric Cash on Cash Return 1.8% 2.4% * Close to shopping centers and Cal State Fullerton Rent Per Square Foot $ 1.73 $ 1.78 * Located within walking distance to Elementary Sch. Year Built 1965 * Many employers within walking distance of property FINANCIAL INDICATORS Please do not go on-site without an appointment. Drive by only. Do not disturb the residents. A complete marketing package is available for those seriously considering the property. For additional Information contact: Richard Bell (714) Office or (714) Cell Richard@bellrealtyca.com

3 PROPERTY FINANCIAL ANALYSIS PROPERTY SUMMARY Number of Units 4 Address: 3155 Pearl Dr. City & State Fullerton, CA Year Built: 1965 Rentable Sq. Ft.: 3,820 Lot Size 8,750 Parking: 7 6 garages APN: Cross Street: Placentia Ave/Sapphire Rd Thomas Bros: 739-E5 INVESTMENT SUMMARY PROPOSED FINANCING PRICE: $1,195,000 New Loan: $776,750 Down Payment $418,250 Rate: 4.3% Percent Down 35% Term Fixed 30 Price/Unit $298,750 Price/Sq. Ft: $ FINANCIAL ANALYSIS (ANNUAL) Actual Market ANNUAL OPERATING EXPENSE Gross Schedule Income (GSI) $ $81,240 $83,700 Taxes $ 13,743 Vacancy Allowance 3.0 % $2,437 $2,437 Insurance $ 1,600 Gross Operating Income (GOI) $78,803 $81,263 Utilities $ 4,200 Operating Expenses 31.1 % $25,266 $25,266 Maintenance $ 2,400 Net Operating Income (NOI) $53,537 $55,997 Pest Control $ 540 Loan Payment (P&I) ($45,854) ($45,854) Licenses Gross Spendable Income (SI) $7,683 $10,143 Gardener/pool $ 1,000 Cap Rate (NOI/LP) 4.5% 4.7% Manager Gross Multiplier (LP/GSI) 14.7 X Gross 14.3 Professional Mgmt Cash on Cash Return 1.8% 2.4% Replacement $ 1,400 Misc $ 400 FIRST YEAR PRINCIPAL PAYDOWN IS $13,000. Total $ 25,283 AN ADDITIONAL 3.1% RETURN ON INVESTMENT UNIT MIX & RENT SCHEDULE Units Bedroom/Baths Actual Rent Monthly Income Market Rent Monthly Income 2 2 Br / 1.75 BA $1,650 $3,300 $1,685 $3, Br / 1.75 BA $1,750 $1,750 $1,750 $1, Br / 1.75 BA $1,550 $1,550 $1,685 $1,685 Total Scheduled Rent: $6,600 $6,805 Laundry & Other Income: $170 $170 Monthly Scheduled Gross Income: $6,770 $6,975 Annual Scheduled Gross Income: $81,240 $83,700 REMARKS: Solid investment property in Fullerton. Located close to Freeways, Schools and Shopping. All units are desirable 2 bedrooms and 1.75 bathrooms. Property includes open grass area, Common laundry room and six single car garages to make the units more appealing to tenants. Extra garages and Laundry Machines generate extra income for owner. Tenants enjoy the elementary school being within walking distance. All of the units are large with 3 of the units being in good condition and 1 completely remodeled with new kitchen, flooring, bathrooms etc. To Show Contact Call Agent Office Owner/Manager On File Listing Office Bell Realty Group Cell Richard@Bellrealtyca.com Sales Person RICHARD BELL Fax All information is from sources believed reliable, but is not guaranteed. Information is confidential and for licenced agents use only--not for public distribution.

4 3155 Pearl Dr. Fullerton, CA 4 Units APARTMENT NUMBER # BED ROOMS # BATH ROOMS EST. SQUARE FEET MONTHLY RENT RENT PER SQUARE FOOT EST. MARKET RENT MARKET RENT SQUARE FOOT Rent Schedule VARIANCE PERCENT VARIANCE $1,650 $1.73 $1, $35 2% $1,750 $1.83 $1, $0 0% $1,650 $1.73 $1, $35 2% $1,550 $1.62 $1, $135 9% MONTHLY INCOME $6,600 $6,805 LAUNDRY $50 $50 OTHER INCOME $120 $120 MONTHLY TOTAL $6,770 $6,975 VARIANCE ANNUAL TOTAL $81,240 $83,700 $2, %

5 Property Photos Arial Map Plat Map

6 Property Photos Street Map Location Map