FOR SALE Sunnyvale 4-Plex

Transcription

1 FOR SALE Sunnyvale 4-Plex DISCLOSURES 645 Azara Place Sunnyvale, CA Exclusively Listed By: Kelly De La Torre 4-Plex Specialist (408) BRE: Highlights: Prime Sunnyvale Location Large Remodeled Owner s Unit Great Unit Mix Covered Parking Well Maintained Long Term Tenants

2 Disclosures The information contained in the following Marketing Presentation is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from and should not be made available to any other person or entity without the written consent of. This Marketing Brochure is intended to be used for the sole purpose of preliminary evaluation. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Presentation has been obtained from sources we believe to be reliable; however, has not verified, and will not verify, any of the information contained herein. makes no representation or warranty regarding the property, including but not limited to: income, expenses, or financial performance (past, present or future); size, square footage, condition of property. has not conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Any potential buyer must independently investigate and verify all information set forth in Marketing Presentation and is solely responsible for all costs and expenses incurred in reviewing the Marketing Presentation and/or investigating and evaluating the property.

3 Location Overview Location Sunnyvaleislocatedin the heartofsilicon Valley.Itlies along the historic ElCaminoReal and Highway 101. Some of the nation s most successful business and industrial leaders are located in Sunnyvale, including Apple, AMD, Juniper Networks, Network Appliance, NetApp, and Yahoo, Inc. Sunnyvale has consistently had one of the lowest crime rates of cities with populations over 100,000 and was most recently ranked as 5th safest city in theu.s.bymoneymagazine. Asofthe2010census,thecitypopulation was140,081. Neighborhood parks, recreational facilities, and quality education make Sunnyvale a most attractive residential community. Sunnyvale also offers shopping convenience and variety with more than 49 neighborhood and regional centers, including downtown shopping and dining at Murphy Avenue a unique and historic business district. Twenty million dollars of public improvements are currently in the works for the CityLine Sunnyvale Project, including the temporary reopening of Redwood Square for public use this fall, the extension of Murphy Avenue to connect with McKinley Avenue, the addition of landscaping and street trees, along with residences and retail space. This project definitely lends to Sunnyvale remaining a most desirable area to live thus enabling property values to remain strong.

4 Property Profile Sale Price $1,988,000 Number of Units 4 APN Year Built 1964 Unit Mix (1) 3/2, (2) 2/1, (1) 1/1 Building Sq. Ft. 3,827 Lot Size 7,480 CAP Rate 2.42% Market CAP Rate 4.95% GRM Market GRM Price Per/Unit $497,000 Price Per Sq. Ft. $519 ROI 0.12% Market ROI 6.40%

5 Property Highlights: Highlights Large 1250 SF 3bd/2ba owner s unit w/ fireplace and private patio Remaining units average more than 800 SF with private patio or balcony Newer roof in good condition Upgraded to earthquake proof PEX Piping throughout w/ over 20 years remaining on unlimited warranty Common coin-op laundry room Native drought tolerant landscaping Well maintained owner occupied building Spacious common yard could potentially be used as BBQ patio area Long-term tenants with low rents, upside potential Quiet tree lined neighborhood off major travel routes Approximately 1-mile from Downtown Heritage District, CaltrainStation, and new Apple Spaceship 2 Campus!

6 Income MONTHLY Unit # Units Mix Approx. SF Actual Market 1 3bd/2ba 1250 $2,035 $3, bd/1ba 800 $1,300 $2,200 3** 2bd/1ba 900 $2,000 $2, bd/1ba 850 $1,350 $2,700 Total Rent (Monthly) $6,685 $11,000 YEARLY ** Owner Occupied Unit $2000 is Sale-Lease back Gross Rental Income (yearly) $80,220 $132,000 Laundry Income $750 $750 Gross Scheduled Income $80,970 $132,750

7 Rent Roll Unit # UNIT MIX RENT MARKET $ Below Market % Below Market 1 3/2 $2,035 $3,300 $1, % 2 1/1 $1,300 $2,200 $ % 3** 2/1 $2,000 $2,800 $ % 4 2/1 $1,350 $2,700 $1, % TOTALS $6,685 $11, % ** Owner Occupied Unit $2000 is Sale-Lease back

8 Expenses YEARLY EXPENSES Taxes (County) $23, % Special Assesment (County) $261 Insurance (Lender) $1,722 Utilites (Est.) $4,800 Landscaping (Est.) $600 Management $0 0% Total Expences $30,434 Exp. As % of EGI 38.74% Per Net Ft. $7.95 Per Unit $7,608

9 Income/Expense Statement SUGGESTED FINANCING Price $1,988,000 Down Payment $800, % Intrest Rate 4.00% Term 30 Debt Coverage Ratio: 0.71 ANNUAL OPERATING DATA Actual Market Gross Rental Income: $80,220 $132,000 Laundry $750 $750 Gross Scheduled Income: $80,970 $132,750 Less Vacancy % of GRI $2, % $3, % Effective Gross Income $78,563 $128,790 Less Expenses $30, % $30, % Net Operating Income $48,130 $98,356 Debt Service $68,060 $68,060 Net Cash Flow -$19, % $30, % Principal Reduction $20,921 $20,921 Return on Investment (ROI) $ % $51, %

10 Changing Price Analysis PRICE CAP % GRM PRICE PRICE Cash Flow % Return Current Current PER PER Current Current Market Market UNIT SQ FOOT Market Market $2,150, % $537,500 $ $25, % 4.57% $24, % $2,050, % $512,500 $ $22, % 4.80% $28, % $1,988, % $497,000 $ $19, % 4.95% $30, % $1,900, % $475,000 $ $16, % 5.18% $33, % $1,850, % $462,500 $ $15, % 5.32% $35, %

11 Sales Comparables 543 Grand Fir Ave - Sunnyvale Selling Price $1,850,000 Price/Unit: $462,500 # of Units 4 Price/SF: $452 DOM 16 CAP: 2.44% Year Built: 1969 GRM: Sq. Ft. 4,097 Lot Size 8,712 NOI $45,094 Gross Rent $81,300 NOTES: COE 11/2016 AT LIST. (1) 3 bd/2 ba; (2) 2 bd/1.5 ba; and (1) 1 bd/1 baunits Coronado Dr - Sunnyvale CA Selling Price $1,950,000 Price/Unit: $487,500 # of Units 4 Price/SF: $518 DOM 23 CAP: 2.79% Year Built: 1963 GRM: Sq. Ft. 3,763 Lot Size 7,318 NOI $54,449 Gross Rent $96,144 NOTES: COE 08/2016 $200K ABOVE LIST. Sold as 8 units with 1237 Coronado -Identical building for $1.95M. (1) 3bd/1ba and (3) 2bd/1ba.

12 Sales Comparables 1574 Tenaka Place - Sunnyvale Selling Price $2,080,000 Price/Unit: $520,000 # of Units 4 Price/SF: $516 DOM 22 CAP: 2.55% Year Built: 1977 GRM: Sq. Ft. 4,029 Lot Size 6,300 NOI $52,943 Gross Rent $90,540 NOTES: COE 03/2017 at $200K ABOVE LIST PRICE. (1) 3bd/2ba, (2) 2bd/1ba, and (1) 1bd/1ba. Cupertino Elementary Schools Helen Ave. - Sunnyvale Selling Price $1,925,000 Price/Unit: $481,250 # of Units 4 Price/SF: $662 DOM 0 CAP: 2.86% Year Built: 1961 GRM: Sq. Ft. 2,910 Lot Size 6,700 NOI $55,000 Gross Rent $85,000 NOTES: COE 06/2017 OFF-MARKET. (4) 2bd/1ba units.

13 Sales Comparables vs. Subject Address Price Unit Mix # Units $/Unit $/Sq Ft CAP GRM Gross Rent 543 Grand Fir Ave - Sunnyvale $1,850,000 (1) 3/2 ;(2) 2/1.5; (1) 1/1 4 $462,500 $ % $81, Helen Ave. - Sunnyvale $1,925,000 (4) 2/1 4 $481,250 $ % $85, Tenaka Place - Sunnyvale $2,080,000 (1) 3/2 ;(2) 2/1.5; (1) 1/1 4 $520,000 $ % $90, Coronado Dr - Sunnyvale CA $1,950,000 (1) 3/1 ;(3) 2/1 4 $487,500 $ % $96,144 Average $1,951,250 $487,813 $ % $88, Azara Place $1,988,000 (1) 3/2 ;(2) 2/1; (1) 1/1 4 $497,000 $ % $80, Coronado Dr 645 Azara Pl SUBJECT PROPERTY 543 Grand Fir Ave 1008 Helen Ave 1574 Tenaka Pl

14 About Your Agent and 4-Plex Specialist. Kelly joins the group after a 10 year long career in the pharmaceutical industry working as a chemist for such companies as Genentech and Roche. Coming from generations of native Californians and being born and raised in the Bay Area, Kelly has always paid close attention to the local real estate market. He understands the science of real estate investing and his passion for helping people has driven him to become an invaluable resource to those looking for financial planning and portfolio growth. Kelly specializes in home and apartment building sales. He will help you achieve your financial goals by listening to what it is that you want and providing a clear path to success. The was founded in 2006 by three Silicon Valleybased brothers. We are a full service commercial brokerage firm specializing in apartment brokerage. We are apartment specialists with a proven record of improving clients portfolio's and we are dedicated to providing expert guidance through every step of the real estate transaction. Our specialization in the local apartment economy creates unparalleled expertise. We are committed to continually assisting in your real estate investment needs, visions, and goals, and applying our resources to meet those requirements.

15 645 Azara Place Sunnyvale, CA Track Record Since 2010 Total # of units sold since Total cash value of transactions since 2010 $178,902,323 PROPERTY ADDRESS TYPE OF PROPERTY # OF UNITS SALE DATE LIST PRICE SALE PRICE 2120 Monroe Apartment 6 3/30/2010 $888,888 $820, Traughber SFR 0 3/31/2010 $290,000 $380, Curtner Avenue SFR 0 4/27/2010 $350,000 $280, Husted Avenue SFR 0 6/4/2010 $446,000 $470, Dot Avenue Condo 0 9/10/2010 $411,000 $411, Floyd St Apartment 4 10/5/2010 $618,000 $600, Magnolia Avenue SFR 0 11/5/2010 $450,000 $400, Elm Street Apartment 23 12/9/2010 $2,225,000 $2,050, Cambridge Ave Apartment 3 3/9/2011 $950,000 $885, Saint Joseph Ave SFR 0 3/25/2011 $1,125,000 $1,142, Bryan Avenue Apartment 6 7/4/2011 $920,000 $910, Monroe Street SFR 0 6/30/2011 $450,000 $460, Grand Fir Ave Apartment 4 9/21/2011 $1,030,000 $1,000, Banff Springs Way SFR 0 10/20/2011 $331,000 $315, S 8th St Apartment 8 11/23/2011 $1,100,000 $1,050, S 8th Street Apartment 6 11/23/2011 $840,000 $810, San Miguel SFR 0 12/2/2011 $350,000 $365, Roewill Drive Apartment 8 12/21/2011 $940,000 $925, Jeanne Ave Apartment 4 12/22/2012 $529,950 $549, Ravenscourt Ave Apartment 16 1/9/2012 $2,250,000 $2,250, Avalani Ave Apartment 6 1/20/2012 $700,000 $680, Avalani Ave Apartment 6 1/20/2012 $700,000 $680, Washington Apartment 7 2/12/2012 $250,000 $250, S 6th Street- San Jose Apartment 6 3/23/2012 $1,035,000 $1,035, Zarich Drive Apartment 2 4/13/2012 $630,000 $640, Waverley Street Palo Alto Apartment 18 4/17/2012 $7,900,000 $7,130, Harriet Avenue SFR 0 5/1/2012 $536,700 $475, N Madison Avenue SFR 0 4/26/2012 $55,000 $62, Chiechi Avenue- San Jose CA 95 Apartment 10 6/4/2012 $1,499,000 $1,510, Morse Avenue- Sunnyvale Apartment 2 6/29/2012 $690,000 $690, Impala Drive- San Jose Apartment 12 7/11/2012 $1,640,000 $1,600, Bellomy Street- Santa Clara Apartment 37 7/24/2012 $6,250,000 $6,900, S 15th Street- San Jose Apartment 4 7/27/2012 $825,000 $800,000

16 645 Azara Place Sunnyvale, CA Track Record 784 Vine Street - San Jose Apartment 5 8/14/2012 $1,000,000 $1,000, Rainier Street, San Jose Apartment 7 9/14/2012 $1,100,000 $1,025, Harrison Street, Santa Clara SFR 0 9/24/2012 $575,000 $597, S Almaden Ave, San Jose Apartment 6 9/25/2012 $799,000 $765, Half Moon Lane Daly City Townhouse 0 10/12/2012 $155,000 $170, Sanders Ave, San Jose Apartment 2 10/23/2012 $400,000 $410, De Marietta Court San Jose Apartment 4 2/14/2013 $1,188,888 $1,179, South Willard Avenue San Jose Apartment 9 2/15/2013 $920,000 $920, Greendale Way San Jose Apartment 4 3/13/2013 $975,000 $1,100, Peach Court Hollister Apartment 3 3/14/2013 $385,000 $373, Sunset Lane San Jose Apartment 4 3/21/2013 $550,000 $555, Grassina Street # 313 San Jose Condo 0 3/25/2013 $455,000 $465, Sierra Ave. - San Jose SFR 0 3/29/2013 $495,000 $450, South 7th Street San Jose Apartment 10 4/2/2013 $1,750,000 $1,750, Magnolia Avenue - San Jose SFR 0 4/29/2013 $860,000 $870, Starview Avenue - San Jose Apartment 4 5/20/2013 $1,050,000 $1,000, Waterbury Ct - San Jose Apartment 4 6/1/2013 $975,000 $975, Mendenhal Drive - San Jose Apartment 4 6/5/2013 $800,000 $792, Imperial Way #123 Daly City Condo 0 6/25 $285,000 $285, SE River Road - Milwaukie OR Apartment 5 6/2013 $425,000 $410, Regan Street - San Jose SFR 0 6/2013 $295,000 $351, Mendenhall Drive- San Jose Apartment 5 7/6/2013 $1,350,000 $1,330, Leigh Avenue - San Jose Apartment 4 8/9/2013 $799,000 $725, Westdale Drive - San Jose Apartment 4 8/28/2013 $1,150,000 $1,150, Appian Lane - San Jose Apartment 4 8/30/2013 $825,000 $830, Wilton Drive - Campbell Apartment 4 10/15/2013 $1,100,000 $1,060, Wilton Drive - Campbell Apartment 4 10/20/2013 $1,100,000 $1,025, Wilton Drive - Campbell Apartment 4 11/4/2013 $1,100,000 $1,000, Rebecca Way - San Jose Apartment 4 11/15/2013 $1,150,000 $1,150, San Juan Drive - Sunnyvale Apartment 10 12/5/2013 $2,260,000 $2,280, Leigh Avenue - San Jose Apartment 9 12/18/2013 $1,249,000 $1,225, Clifton Avenue - San Jose Apartment 6 1/3/2014 $1,088,888 $1,088, North Sanborn Road Salinas Apartment 3 1/10/2014 $350,000 $430, S. Sunnyvale Ave. Sunnyvale Hotel 0 1/20/2014 $7,000,000 $6,950, Clifton Avenue - San Jose Apartment 6 2/19/2014 $1,088,888 $1,084, S Sunnyvale Ave - Sunnyvale NNN 0 1/15/2014 $6,000,000 $6,000, Laurel Street - Santa Cruz NNN 0 2/14/2014 $2,300,000 $2,300, Starbird Circle - San Jose Apartment 4 2/21/2014 $1,239,000 $1,200,000

17 Track Record 1138 Starbird Circle - San Jose Apartment 4 2/21/2014 $1,218,000 $1,200, Ashdown Place - Half Moon Bay SFR 0 3/20/2014 $1,500,000 $1,432, W. McKinley Avenue - San Jose Apartment 4 5/9/2014 $1,450,000 $1,468, El Camino Real - Palo Alto Hotel 0 6/26/2014 $10,000,000 $10,000, Calero Avenue - San Jose Apartment 2 6/30/2014 $874,500 $900, Contemplation Place - Milpitas Condo 0 8/1/2014 $719,000 $719, Avalani Avenue - San Jose Apartment 6 7/30/2014 $1,299,950 $1,299, Avalani Avenue - San Jose Apartment 6 7/30/2014 $1,299,950 $1,299, Kay Drive - San Jose SFR 0 10/21/2014 $850,000 $965, Fruitdale Ave. - San Jose Apartment 4 11/21/2014 $1,188,888 $1,250, Shoreline Blvd. - Mountain View Office 0 12/11/2014 $7,000,000 $7,000, Granada Dr. - Mountain View Apartment 14 3/18/2015 $7,200,000 $6,416,450 1 Forest Glen Dr. - Mountain View Apartment 24 3/18/2015 $12,000,000 $11,863, Olsen Rd. - Longview, WA Apartment 72 5/1/2015 $2,700,000 $2,400, S. 2nd St. - San Jose Apartment 3 9/10/2015 $1,165,000 $1,140, Nottingham Place - San Jose Apartment 2 9/3/2015 $1,025,000 $1,000, Stone Pine Lane - San Ramon Condo 1 9/14/2015 $419,500 $419, Pasetta Dr. - Santa Clara Apartment 4 9/15/2015 $1,200,000 $1,253, Stone Pine Lane - San Ramon Condo 1 10/13/2015 $449,000 $452, S 2nd Street - San Jose Apartment 3 10/28/2015 $1,165,000 $1,145, Saratoga Ave #D- Saratoga Condo 1 2/7/2016 $870,000 $885, Lilac Blossom Lane - San Jose Apartment 2 3/11/2016 $1,385,000 $1,385, Echo Street - Santa Cruz SFR 1 3/21/2016 $875,000 $850, Waterbury Court - San Jose Apartment 4 3/30/2016 $1,350,000 $1,325, Clover Manor Way - Sacramento Apartment 2 4/6/2016 Off Market $400, Gordon Drive, Sacramento Duplex 2 4/21/2016 $165,000 $165, West Hamilton Avenue - Campbell Apartment 4 4/26/2016 $1,400,000 $1,500, Lesley Lane - Holister SFR 1 4/28/2016 $810,000 $780, Teakwood Court - Los Gatos Apartment 4 5/1/2016 Off Market $1,881, Ross Circle - San Jose Apartment 4 6/29/2016 $1,400,000 $1,370, Main Street - Santa Clara Apartment 4 7/13/2016 Off Market $1,160, Clover Manor Way - Sacramento Duplex 2 7/21/2016 $180,000 $180, Balboa Avenue - Sylmar NNN 0 ACTIVE $4,575,000 $0 855 Barron Avenue - Redwood City Mobile Homes 51 ACTIVE $9,000,000 $ Tomisina Ct. San Jose Apartment 6 9/2/2016 $1,850,000 $1,850, IllinoisAvenue, San Jose Apartment 2 9/30/2016 $920,000 $920,000

18 Track Record 904 N Butte Ave, Willows Ca Mobile Homes 12 10/18/2016 $250,000 $225, S. 10th Street, San Jose Duplex 2 10/26/2016 $725,000 $685, Troy Dr. - San Jose Apartment 6 11/21/2016 $1,771,000 $1,741, Poplar Avenue, Los Banos SFR 1 11/22/2016 $425,000 $390, Exeter Court, Sunnyvale Duplex 2 12/2/2016 $1,588,888 $1,900, N 8th Street, San Jose Duplex 2 12/3/2016 $728,000 $700, Stevens Creek Boulevard, Cupertino SFR 1 12/26/2016 $2,288,888 $2,288, Illinois Avenue, San Jose Duplex 2 12/26/2016 $880,000 $865, Lexington Dr. San Jose Apartment 4 1/3/2017 $1,649,000 $1,635, Loncoln Ave, San Jose Duplex 2 1/21/2017 $1,099,000 $1,025, N. Yolo Street, Willows Apartment 12 1/27/2017 $250,000 $192, Welsh Court, San Luis Obispo SFR 1 2/6/2017 $715,000 $700, Colony Street Apartment 17 2/10/2017 $6,999,000 $6,800, S Bernardo Ave, Sunnyvale Duplex 2 2/16/2017 $1,688,000 $1,674, Pembridge Drive, San Jose Duplex 2 3/15/2017 $899,999 $980, Hillebrant Place, Santa Clara Townhouse 1 3/31/2017 $975,000 $1,130, Snell Court, San Jose SFR 1 4/18/2017 $799,000 $800, Foothill Pines Court, Pine Grove Apartment 24 6/4/2017 $2,195,000 $2,100,000 Total # of units sold since Total cash value of transactions since 2010 $178,902,323