1752 W Sumac Ln ANAHEIM, CA OFFERING MEMORANDUM

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Gertrude Bradley
5 years ago
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1 OFFERING MEMORANDUM

PROPERTY DESCRIPTION INVESTMENT OVERVIEW Investment Highlights Gated Front with Nice Landscaping, Separate Garage Structure Desirable Unit Mix of Mostly Two Bedroom Units Ample Parking, Including

2 PROPERTY DESCRIPTION INVESTMENT OVERVIEW Investment Highlights Gated Front with Nice Landscaping, Separate Garage Structure Desirable Unit Mix of Mostly Two Bedroom Units Ample Parking, Including Garages & Street Parking Upside in Rents, Valued Added Opportunity Seperately Metered Gas & Electric, Pitched Roof Common Area Includes Spacious Courtyard Strong Anaheim Rental Market Central Anaheim Location with Easy I-5 & CA-22 Freeway Access Marcus & Millichap, as the exclusive listing agent, is pleased to present 1752 W. Sumac Lane, an eight-unit multifamily property located in the City of Anaheim, California. Situated on a 10,495 square foot lot, the property consists of two one-bedroom / one-bath style units and six two-bedroom / 1 bathroom style units. Built in 1959, the property has nice curb appeal with plants, trees, & grass in the front. A spacious interior courtyard is also located within the property. Each unit is individually metered for electricty and gas. New vinyl wood plank flooring has been installed in two of the units in the living room area. Four of the units received kitchen and bathroom upgrades including cermaic title. A brand new water heater has been replaced about a year ago as well. This is a low maintenance investment opportunity. The property is in a great location right near major retail, educational, and employment opportunities. Disneyland Park and California Adventures is just two blocks away W. Sumac Lane is also in walking distance to various restaurants, grocery stores, and parks. The property is in close proximity to the I-5 and CA-22 Freeways.

3 FINANCIAL OVERVIEW Location 1752 W Sumac Ln Price $2,010,000 Down Payment 45% / $904,500 Number of Units 8 Price/Unit $251,250 Rentable Square Feet 5,920 Price/SF $ CAP Rate - Current 3.53% CAP Rate- Pro Forma 5.04% GRM - Current GRM- Pro Forma Year Built 1959 Lot Size 10,495 Type of Ownership Fee Simple PRICING AND FINANCIAL ANALYSIS Annualized Operating Data Income Current Pro Forma Gross Potential Rent $114,600 $145,920 Other Income $1,190 $1,190 Gross Potential Income $115,790 $147,110 Less: Vacancy/Deductions (GPR) 3.0% / $3, % / $4,378 Effective Gross Income $112,352 $142,732 Less: Expenses $41,460 $41,460 Net Operating Income $70,892 $101,272 Net Cash Flow Before Debt Service $70,892 $101,272 Debt Service $67,217 $67,217 Debt Coverage Ratio Net Cash Flow After Debt Service 0.4% / $3, % / $34,056 Principal Reduction $17,834 $17,834 Total Return 2.4% / $21, % / $51,890 Financing FIRST TRUST DEED Loan Amount $1,105,500 Loan Type Proposed New Interest Rate 4.5% Amortization 30 Years Program 5 Year Fixed Loan to Value 55% Loan information is time sensitive and subject to change. Contact your local Marcus & Millichap Capital Corporation representative. Expenses Real Estate Taxes $21,909 $21,909 Insurance $2,000 $2,000 Gas $1,453 $1,453 Electric/Water/Trash $3,241 $3,241 Pest Control $180 $180 Landscape $581 $581 On-Site Payroll $4,200 $4,200 Repairs & Maintenance $4,000 $4,000 Special Assessments (Prop $1,896 $1,896 Reserves $2,000 $2,000 Total Expenses $41,460 $41,460 Expenses/unit $5,183 $5,183 Expenses/SF $7.00 $7.00 % of EGI 36.90% 29.05% Scheduled Income No. of Units Unit Type Approx. Square Feet Current Rents Rent/ SF Monthly Income Pro Forma Rents Rent/ SF Monthly Income 2 1 Bdr 1 Bath 560 $1,000 - $1,050 $1.83 $2,050 $1,295 $2.31 $2, Bdr 1 Bath 800 $1,250 $1.56 $7,500 $1,595 $1.99 $9,570 8 Total/Wtd. Avg. 5,920 $9,550 $12,160

4 PRICING AND FINANCIAL ANALYSIS INCOME & EXPENSES Total Number of Units: 8 Total Rentable Area: 5,920 SF Income Current Per Unit Pro Forma Per Unit GROSS POTENTIAL RENT $114,600 $14,325 $145,920 $18,240 Other Income Laundry Income $1,190 $149 $1,190 $149 Total Other Income $1,190 $149 $1,190 $149 GROSS POTENTIAL INCOME $115,790 $14,474 $147,110 $18,389 Vacancy/Collection Allowance (GPR) 3.0% / $3,438 $ % / $4,378 $547 EFFECTIVE GROSS INCOME $112,352 $14,044 $142,732 $17,842 Expenses Real Estate Taxes (1.0900%) $21,909 $2,739 $21,909 $2,739 Insurance $2,000 $250 $2,000 $250 Gas $1,453 $182 $1,453 $182 Electric/Water/Trash $3,241 $405 $3,241 $405 Pest Control $180 $23 $180 $23 Landscape $581 $73 $581 $73 On-Site Payroll $4,200 $525 $4,200 $525 Repairs & Maintenance 3.6% / $4,000 $ % / $4,000 $500 Special Assessments (Prop Tax) $1,896 $237 $1,896 $237 Reserves $2,000 $250 $2,000 $250 TOTAL EXPENSES $41,460 $5,183 $41,460 $5,183 Expenses per SF $7.00 $7.00 % of EGI 36.9% 29.1% NET OPERATING INCOME $70,892 $8,862 $101,272 $12,659 Insurance Quote $2,000

5 PRICING AND FINANCIAL ANALYSIS RENT ROLL Unit Number # Bed # Bath Unit SF Current Rent Rent/ SF Market Rent Rent/ SF 1 1 Bdr 1 Bath 560 $1,000 $1.79 $1,295 $ Bdr 1 Bath 560 $1,050 $1.88 $1,295 $ Bdr 1 Bath 800 $1,250 $1.56 $1,595 $ Bdr 1 Bath 800 $1,250 $1.56 $1,595 $ Bdr 1 Bath 800 $1,250 $1.56 $1,595 $ Bdr 1 Bath 800 $1,250 $1.56 $1,595 $ Bdr 1 Bath 800 $1,250 $1.56 $1,595 $ Bdr 1 Bath 800 $1,250 $1.56 $1,595 $1.99 TOTAL VACANT $0 $0 8 TOTAL OCCUPIED 5,920 $9,550 $12,160 8 TOTAL 5,920 $9,550 $12,160

6 PROPERTY DESCRIPTION PROPERTY SUMMARY The Offering Property Address 1752 W Sumac Ln Assessor's Parcel Number Zoning Multi-Family Site Description Number of Units 8 Number of Buildings 2 Number of Stories 2 Year Built 1959 Rentable Square Feet 5,920 Lot Size 10,495 Type of Ownership Fee Simple Density Low Parking Garage & Lot Parking Ratio 1:1 Landscaping Palm Trees, Grass, & Flowers Topography Flat Utilities Water Phone Electric Gas Owner Tenant Tenant Tenant Construction Foundation Framing Exterior Parking Surface Roof Asphalt & Concrete Wood Stucco Asphalt & Concrete Pitched

Shops, & Recreational Parks Including Disneyland Unit Amenities Half of the Units Have Received Some Interior

7 PROPERTY DESCRIPTION AMENITIES Common Area Amenities Spacious Interior Courtyard New Water Heater Installed One Year Ago Gated Front Yard & Nicely Landscaped with Grass, Trees, & Flowers Walkable to Various Restaurants, Shops, & Recreational Parks Including Disneyland Unit Amenities Half of the Units Have Received Some Interior Renovations Individually Metered For Gas & Electric Assigned Garage Space For Each Unit On-Site Laundry Room & In-Unit A/C

8 PROPERTY DESCRIPTION PROPERTY PHOTOS

9 PROPERTY DESCRIPTION AREA MAPS Local Map Regional Map

10 PROPERTY DESCRIPTION AERIAL PHOTO

RECENT SALES RECENT SALES 1 406 E South St Anaheim, CA 92805 No.

Escrow: 4/12/18 Price/SF: $363.06 CAP Rate: 4.00% GRM: 16.64 2 2960 E Jackson Ave Anaheim, CA 92806 No.

Price/Unit: $279,793 Close of Escrow: 12/6/2017 Price/SF: $310.18 CAP Rate: 4.30% GRM: 13.

11 RECENT SALES RECENT SALES E South St Anaheim, CA No. of Units: 7 Units Unit Type Year Built: Bdr 2 Bath Sale Price: $2,300,000 Price/Unit: $328,571 Close of Escrow: 4/12/18 Price/SF: $ CAP Rate: 4.00% GRM: E Jackson Ave Anaheim, CA No. of Units: 193 Units Unit Type Year Built: Bdr 1 Bath Sale Price: $54,000, Bdr 1 Bath Price/Unit: $279,793 Close of Escrow: 12/6/2017 Price/SF: $ CAP Rate: 4.30% GRM: S Marian Way No. of Units: 8 Units Unit Type Year Built: Bdr 2 Bath Sale Price: $2,235,000 Price/Unit: $279,375 Close of Escrow: 3/30/18 Price/SF: $ CAP Rate: 3.80% GRM: 14.23

RECENT SALES RECENT SALES 4 203 S Ohio St Anaheim, CA 92805 No.

70% GRM: 16.86 5 2248 W Colchester Dr No.

12 RECENT SALES RECENT SALES S Ohio St Anaheim, CA No. of Units: 24 Units Unit Type Year Built: Bdr 1 Bath Sale Price: $6,650,000 Price/Unit: $277,083 Close of Escrow: 9/27/17 Price/SF: $ CAP Rate: 3.70% GRM: W Colchester Dr No. of Units: 5 Units Unit Type Year Built: Studio Sale Price: $1,385,000 Price/Unit: $277,000 Close of Escrow: 12/29/17 Price/SF: $ CAP Rate: 4.10% GRM: S Sharon Cir No. of Units: 53 Units Unit Type Year Built: Bdr 1 Bath Sale Price: $14,150, Bdr 2 Bath Price/Unit: $266, Bdr 2 Bath Close of Escrow: 3/6/18 Price/SF: $ CAP Rate: 3.98% GRM: 14.49

RECENT SALES RECENT SALES 7 916 S Roberts St Anaheim, CA 92802 No.

$262,500 Close of Escrow: 10/3/17 Price/SF: $138.35 CAP Rate: 4.20% GRM: 14.

of Units: 130 Units Unit Type Year Built: 1986 56 1 Bdr 1 Bath Sale Price: $34,000,000 74 2 Bdr 2 Bath Price/Unit:

13 RECENT SALES RECENT SALES S Roberts St Anaheim, CA No. of Units: 14 Units Unit Type Year Built: Bdr 1 Bath Sale Price: $3,675, Bdr 2 Bath Price/Unit: $262,500 Close of Escrow: 10/3/17 Price/SF: $ CAP Rate: 4.20% GRM: S Harbor Blvd Anaheim, CA No. of Units: 130 Units Unit Type Year Built: Bdr 1 Bath Sale Price: $34,000, Bdr 2 Bath Price/Unit: $261,538 Close of Escrow: 10/6/17 Price/SF: $ CAP Rate: 4.10% GRM: W Ball Rd No. of Units: 18 Units Unit Type Year Built: Bdr 2 Bath Sale Price: $4,700,000 Price/Unit: $261,111 Close of Escrow: 10/16/17 Price/SF: $ CAP Rate: 3.47% GRM: 16.14

RECENT SALES RECENT SALES 10 131 S Magnolia Ave No.

14 RECENT SALES RECENT SALES S Magnolia Ave No. of Units: 24 Units Unit Type Year Built: Bdr 1 Bath Sale Price: $6,125, Bdr 1 Bath Price/Unit: $255,208 Close of Escrow: 10/31/17 Price/SF: $ CAP Rate: 3.78% GRM: 15.11

RENT COMPARABLES RENT COMPARABLES 1752 W Sumac Ln Unit Type Units SF Rent Rent/SF 1 Bdr 1 Bath 2 560 $1,000 - $1,050 $1.

Anaheim, CA 92805 Unit Type Units SF Rent Rent/SF 2 Bdr 1 Bath 24 950 $1,338 $1.41 No. of Units 24 Year Built: 1985 Total/Wtd. Avg.

15 RENT COMPARABLES RENT COMPARABLES 1752 W Sumac Ln Unit Type Units SF Rent Rent/SF 1 Bdr 1 Bath $1,000 - $1,050 $ Bdr 1 Bath $1,250 $1.56 Subject Property No. of Units 8 Year Built: 1959 Total/Avg. 8 5,920 $1,138 $ S. Ohio St. Anaheim, CA Unit Type Units SF Rent Rent/SF 2 Bdr 1 Bath $1,338 $1.41 No. of Units 24 Year Built: 1985 Total/Wtd. Avg. 24 $1,338 $ W Ball Rd. Anaheim, CA Unit Type Units Rent 1 Bdr 1 Bath 6 $1,200 2 Bdr 1 Bath 1 $1,250 No. of Units 8 Year Built: 1982 Total/Wtd. Avg. 7 $1,225

RENT COMPARABLES RENT COMPARABLES 3 3517 W Del Monte Dr.

of Units 8 Year Built/Renovated: 1964 Total/Wtd. Avg. 7 $1,346 4 116 S Olive St.

of Units 12 Year Built/Renovated: 1922 Total/Wtd. Avg. 12 $1,200 $2.

16 RENT COMPARABLES RENT COMPARABLES W Del Monte Dr. Unit Type Units Rent 1 Bdr 1 Bath 1 $1,200 2 Bdr 1 Bath 6 $1,492 No. of Units 8 Year Built/Renovated: 1964 Total/Wtd. Avg. 7 $1, S Olive St. Anaheim, CA Unit Type Units SF Rent Rent/SF 1 Bdr 1 Bath $1,200 $2.40 No. of Units 12 Year Built/Renovated: 1922 Total/Wtd. Avg. 12 $1,200 $ E Benmore Ln Anaheim, CA Unit Type Units SF Rent Rent/SF 1 Bdr 1 Bath $1,200 $1.65 No. of Units 22 Year Built/Renovated: 1965 Total/Wtd. Avg. 22 $1,200 $1.65

RENT COMPARABLES RENT COMPARABLES 6 3629 W Ball Rd.

of Units 18 Year Built/Renovated: 1979 Total/Wtd. Avg. 18 $1,650 $1.94 7 626 N Anna Dr.

of Units 6 Year Built/Renovated: 1960 Total/Wtd. Avg. 6 $1,425 $2.

17 RENT COMPARABLES RENT COMPARABLES W Ball Rd. Unit Type Units SF Rent Rent/SF 2 Bdr 1 Bath $1,650 $1.94 No. of Units 18 Year Built/Renovated: 1979 Total/Wtd. Avg. 18 $1,650 $ N Anna Dr. Anaheim, CA Unit Type Units SF Rent Rent/SF 1 Bdr 1 Bath $1,425 $2.19 No. of Units 6 Year Built/Renovated: 1960 Total/Wtd. Avg. 6 $1,425 $ South Ranch View Circle Anaheim, CA Unit Type Units SF Rent Rent/SF 2 Bdr 1 Bath 1 1,140 $2,050 $1.80 No. of Units 3 Year Built/Renovated: 2009 Total/Wtd. Avg. 1 $2,050 $1.80

RENT COMPARABLES RENT COMPARABLES 435 South Ranch View Circle Anaheim, CA 92807 Unit Type Units SF Rent Rent/SF 1 Bdr 1 Bath

18 RENT COMPARABLES RENT COMPARABLES 435 South Ranch View Circle Anaheim, CA Unit Type Units SF Rent Rent/SF 1 Bdr 1 Bath $1,195 $ Bdr 1 Bath 1 1,140 $1,550 $1.36 No. of Units 3 Year Built/Renovated: 1974 Total/Wtd. Avg. 2 $1,372 $1.29

1013 N. Ross St SANTA ANA, CA OFFERING MEMORANDUM

1013 N. Ross St SANTA ANA, CA OFFERING MEMORANDUM OFFERING MEMORANDUM INVESTMENT OVERVIEW Investment Highlights Strong Unit Mix of 1 Bed + Den, and 2 Bed Units Great Curb Appeal & Nicely Landscaped No Owner Gas or Electric Bill! Common Area Includes Spacious