8300 Tampa Avenue MIXED USE IN NORTHRIDGE. Mixed Use Opportunity Tampa Avenue. Alex Galuz President. Northridge, CA 91324

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1 8300 Tampa Avenue MIXED USE IN NORTHRIDGE 8300 Tampa Avenue Northridge, CA Alex Galuz President Mixed Use Opportunity

2 DISCLAIMER The information contained herein has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied as to the accuracy of the information. References to square footage or age are approximate. Buyer must independently verify the information and bears all risks for any accuracies. Expenses are estimates. LISTED BY ALEX GALUZ President (310) cell (818) office (818) fax CA License: Crescent Realty Ventura Boulevard Woodland Hills, CA

3 Table of Contents INVESTMENT OVERVIEW FINANCIAL OVERVIEW SALES COMPARABLES

4 8300 Tampa Avenue Investment Overview 4

5 Investment Overview SUMMARY Gorgeous, one of a kind English Tudor designed mixed use building. Built and designed in 1981 by a previous owner to house his corner floral business along with other retailers and upstairs offices. All units have their own meters to keep expenses very low. Since then, the florist shop has been converted to a newly built restaurant. The property is always 100% occupied and the majority of the tenants have been at this location for nearly 10 years. The property is 100% sprinklered and insurance is obtained at a low cost. This property is well maintained and has been recently painted, common areas updated, AC units updated, and roof maintained. Expenses are very low and management is extremely easy. Retail tenants are responsible for their maintenance. Rents are low and the property has significant upside. Busy corner lot with great signage tops off this already desirable asset. 5

6 8300 Tampa Avenue Investment Overview INVESTMENT HIGHLIGHTS $3,595,000 12,829 $ % LIST PRICE GROSS SF PRICE/SF CAP RATE Located on the Busy Corner of Tampa Avenue and Roscoe Boulevard Owner/User Opportunity for General Office, Restaurants, Bars and Clubs Easy Access 60,000 Car Count per Day High Visible Pole Signage Brand New Restaurant Built Out with Major Rental Upside Vaulted Ceilings 6

7 7

WINNETKA AVE TAMPA AVE 8300 Tampa Avenue Investment Overview 118 DEVONSHIRE ST PLUMMER ST NORDHOFF ST 27

8 WINNETKA AVE TAMPA AVE 8300 Tampa Avenue Investment Overview 118 DEVONSHIRE ST PLUMMER ST NORDHOFF ST Tampa Avenue RESEDA BLVD ROSCOE BLVD 405 DE SOTO AVE SATICOY ST SHERMAN WAY VANOWEN ST VICTORY BLVD 101 8

LOCATION OVERVIEW NORTHRIDGE Once called North Los Angeles, the neighborhood known as Northridge is a jewel of the San Fernando Valley, home to California State University, Northridge (CSUN) and some

9 LOCATION OVERVIEW NORTHRIDGE Once called North Los Angeles, the neighborhood known as Northridge is a jewel of the San Fernando Valley, home to California State University, Northridge (CSUN) and some of the best public and private schools in the region. Near the northwest edge of the San Fernando Valley, nestled between Chatsworth, Porter Ranch, the Granada Hills, and Reseda, Northridge combines urban living with access to the natural beauty of the surrounding countryside, including the nearby Chatsworth Reservoir and Lake Balboa. LOCATION SCORES WALK SCORE BIKE SCORE MILES MINUTES Somewhat Walkable Some errands can be accomplished on foot. Bikeable Flat as a pancake, minimal bike lanes. To the Ventura County Line at the Northridge Metrolink Station To Downtown San Fernando 9

10 8300 Tampa Avenue Financial Overview Financial Overview INVESTMENT SUMMARY Price $3,595,000 Down Payment (45%) $1,617,750 Property Type Mixed Use Assessor s Parcel Number Year Built 1981 Zoning LAC2 Parking 28 Spaces Approx. Lot Size 15,537 SF Approx. Gross Square Feet 12,829 Price per Gross SF $ NOI $209,736 CAP Rate Current 5.83% Total Return 7.86% FINANCING Price $3,595,000 Down Payment $1,617,750 Loan Amount $1,977,250 Loan Type 5 Year Fixed Interest Rate 4.25% Amortization 25 Year Monthly Payment $10, PROPERTY Ingress/Egress Cross Street Highway Access Construction Off Tampa Ave. and Roscoe Blvd. Tampa Avenue Between Winnetka Ave. and Reseda Blvd. 101 Freeway English Tudor Design with Brick Sidewalks Stories 3 Fire Sprinklers Yes 10

11 VITAL DATA CURRENT Cap Rate 5.83% Net Operating Income $209,736 Total Return 7.86% 11

12 8300 Tampa Avenue Financial Overview RENT ROLL SUITE TENANT BUSINESS NSFR CURRENT RENT CAM TOTAL RENT PAID RENT LEASE COMM. LEASE EXP. RENT INCR. DEPOSIT COMMENTS A Mondo Cafe Restaurant 1,900 $3, $ $3, $3, /1/17 9/1/22 9/1/19 $3, % Increases B Wellness Spa Message 1,000 $2, No CAM $2, $2, /1/13 9/1/19 9/1/18 $1, % Annual Increases C Over the Rainbow Hair Hair Salon 1,000 $2, Every 3 Month $2, $2, /1/15 6/1/19 9/1/18 $1, % Increases D Malee Spa Message 1,400 $2, $ $2, $2, /10/16 11/10/21 11/10/18 $3, % Increases E Variegata/Landscape Office 600 $ $60.00 $ $ /1/17 2/29/19 3/1/18 $ % Increases F/G Sky High Enrichment Office 1,250 $1, No CAM $1, $1, /1/17 9/1/19 9/1/18 $2, % Increases J Mednet Billing Office 900 $1, No CAM $1, $1, /1/07 9/1/17 9/1/18 $2, % Increases K Supersonic Freight Office 900 $1, No CAM $1, $1, /1/17 6/30/21 7/1/18 $2, % Increases M Cruz Center Office 1,900 $1, $ $2, $2, /1/16 7/1/19 7/1/18 $1, % Increases PH Escape Room 2,000 $1, $ $2, $2, /1/16 8/1/19 8/1/18 $1, % Increases Cir Ch Sprint Antenna 0 $1, $ $2, $2, /1/10 5/1/20 5/1/18 N/A 3% Increases - 20 Year Lease Suite C CAM Every Quarter 3,6,9,12 $ $22, $1, $23, $23,

13 ANNUALIZED OPERATING DATA INCOME CURRENT Base Rent $270,732 Expense Reimbursements $13,164 Parking Income $0 Gross Potential Income $283,896 Vacancy 3% $8,516 Total Expenses $65,643 Net Operating Income $209,736 Debt Service $128,538 Net Cash Flow After Debt Service 5.02% / $81,198 Principal Reduction $45,901 Total Return 7.86% / $127,099 EXPENSES CURRENT Real Estate Taxes $40,443 Insurance $5,500 DWP $4,300 Gas $0 Janitorial $3,500 Trash $1,400 Pest Control $500 Management $6,000 Repairs/Maintenance $4,000 Total Expenses $65,643 Expense/NRSF $

14 8300 Tampa Avenue Sales Comparables

15 Sales Comparables ADDRESS SALE DATE SALE PRICE YEAR BUILT BUILDING TYPE PERCENT LEASED GROSS SF PRICE/ SF CAP RATE Tampa Avenue Northridge, CA Balboa Boulevard Van Nuys, CA $3,595, Mixed Use 100% 12,829 $ % 3/30/2017 $3,900, Retail 100% 9,664 $ N/A Ventura Boulevard Encino, CA /30/2018 $4,000, / 2014 Retail 100% 6,973 $ N/A Sherman Way Canoga Park, CA /10/2017 $4,500, Retail 100% 12,776 $ N/A Total/Average $

16 8300 Tampa Avenue MIXED USE IN NORTHRIDGE LISTED BY ALEX GALUZ President (310) cell (818) office (818) fax CA License: Crescent Realty Ventura Boulevard Woodland Hills, CA

1031 N. Curson Avenue

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