10926 S Grevillea Ave Inglewood, CA Unit Multi-Family Investment

Transcription

1 10926 S Grevillea Ave Inglewood, CA Unit Multi-Family Investment Presented by: VP of Investments BRE Lic. # South Hope Street, Suite 500 Los Angeles, CA Office: (213) Fax (213)

2 Property Profile Property Address: S Grevillea Ave Inglewood, CA Assessor Parcel #: Units: 6 Year Built: 1934 Building Size: 2,400 Lot Size: 9,924 Zoning: Construction: Roof Type: Parking: LCR3YY W/F Stucco Composite On-Site Amenities Unit Amenities Refrigerator Disposal Central A/C Cable Ready/DSL Dishwasher Washer/Dryer Wall A/C Furnished Garages Balcony/Patio Fireplace Utilities Paid Pool Secured Parking BBQ Area Elevator Spa Secured Entry Playground Sundeck Fitness Center Laundry Room Clubhouse Sauna Investment Highlights Single-Story Individual Cottages Newly Renovated Including New Exterior Paint, New Electric Panels, Insulated Windows, Doors, and Central HVAC Systems Plenty of Onsite Parking Located Less Than 2 Miles From the Future Stadium of the L.A. Rams Separately Metered for Gas and Electricity

3 Photos

4 Photos (continued)

5 Photos (continued)

6 Aerial Map

7 Aerial Map The Forum Los Angeles Rams Stadium Hollywood Park Casino LAX Hawthorne Municipal Airport

8 Parcel Map

9 Current Income & Expense Analysis S Grevillea Ave Inglewood, CA W/F Stucco 2,400 9, LCR3YY No. Units Construction Gross Sq. Ft. Lot Size Sq. Ft. Year Built Zoning CURRENT ANNUALIZED INCOME Units Type Current Total $ 1,200-1,200 $ 7,200 6 $ 7,200 CURRENT ANNUALIZED EXPENSES SCHEDULED GROSS INCOME $ 86,400 Vacancy Rate 1% $ 864 GROSS OPERATING INCOME $ 85,536 Expenses Property Taxes + Direct Assessments 1.58% $ 18,538 New Insurance Quote $ 1,200 Utilities $ 3,600 Trash $ 1,440 Repairs & Maintenance 5% $ 4,277 Reserves for Replacement $ 600 Total Expenses 34.3% $ 29,655 Per Unit $ 4,942 Per Foot $ NET OPERATING INCOME $ 55,881

10 Current Pricing Analysis and Opinion of Value S Grevillea Ave Inglewood, CA W/F Stucco 2,400 9, LCR3YY No. Units Construction Gross Sq. Ft. Lot Size Sq. Ft. Year Built Zoning CURRENT PRICING AND FINANCING PRICE $ 1,175,000 Down Payment 45% $ 528,750 First Trust Deed 55% $ 646,250 Interest Rate FIXED 4.00% APR FRM 30/3 Term 30 /5 COMMENTS Buyer to obtain a new loan at prevailing market rates and terms. CURRENT SCHEDULED INCOME SCHEDULED GROSS INCOME $ 86,400 Less Vacancy 1.0% $ 864 Gross Operating Income $ 85,536 Less Expenses 34.3% $ 29,655 NET OPERATING INCOME $ 55,881 Less Debt Service $ 37,024 PRE-TAX CASH FLOW $ 18,858 Return % 3.57% Gross Rent Multiplier Capitalization Rate 4.76% Price per Square Foot $ Price per Unit $ 195,833

11 Proforma Income & Expense Analysis S Grevillea Ave Inglewood, CA W/F Stucco 2,400 9, LCR3YY No. Units Construction Gross Sq. Ft. Lot Size Sq. Ft. Year Built Zoning PROFORMA ANNUALIZED INCOME Units Type Proforma Total $ 1,300 $ 7,800 6 $ 7,800 PROFORMA ANNUALIZED EXPENSES SCHEDULED GROSS INCOME $ 93,600 Vacancy Rate 1% $ 936 GROSS OPERATING INCOME $ 92,664 Expenses Property Taxes + Direct Assessments $ 18,538 New Insurance Quote $ 1,200 Utilities $ 3,600 Trash $ 1,440 Repairs & Maintenance 5% $ 4,633 Reserves for Replacement $ 600 Total Expenses 32.1% $ 30,011 Per Unit $ 5,002 Per Foot $ NET OPERATING INCOME $ 62,653

12 Proforma Pricing Analysis and Opinion of Value S Grevillea Ave Inglewood, CA W/F Stucco 2,400 9, LCR3YY No. Units Construction Gross Sq. Ft. Lot Size Sq. Ft. Year Built Zoning PROFORMA PRICING AND FINANCING PRICE $ 1,175,000 Down Payment 45% $ 528,750 First Trust Deed 55% $ 646,250 Interest Rate FIXED 4.00% APR FRM 30/3 Term 30 /5 COMMENTS Buyer to obtain a new loan at exisitng market rates and terms. PROFORMA SCHEDULED INCOME SCHEDULED GROSS INCOME $ 93,600 Less Vacancy 1.0% $ 936 Gross Operating Income $ 92,664 Less Expenses 32.1% $ 30,011 NET OPERATING INCOME $ 62,653 Less Debt Service $ 37,024 PRE-TAX CASH FLOW $ 25,629 Return % 4.85% Gross Rent Multiplier Capitalization Rate 5.33% Price per Square Foot $ Price per Unit $ 195,833

13 Rent Roll Unit # Unit Type Current Rent Market Rent $1,200 $1, $1,200 $1, $1,200 $1, $1,200 $1, $1,200 $1, $1,200 $1,300 TOTALS: $7,200 $7,800

14 10926 S Grevillea Ave Subject Photo Investment Characteristics Unit Mix & Rent Schedule # of Units Type Current Rent Range Monthly Income Market Rent Monthly Income v g ,200-1,200 $ 7,200 $ 1,300 $ 7,800 Pricing Summary 6 $ 7,200 $ 7,800 Income & Expenses Price: $ 1,175,000 Current Proforma Down: $ 528,750 Annualized Annualized Loan Amount: $ 646,250 Scheduled Gross Income $ 86,400 $ 93,600 Price / Unit: $ 195,833 Cash on Cash (%): 3.57% Total Scheduled Gross Income $ 86,400 $ 93,600 GRM: Vacancy Rate 1% $ 864 1% $ 936 GRM (Proforma): Cap Rate: 4.76% Effective Operating Income $ 85,536 $ 92,664 Cap Rate(Proforma): 5.33% Property Profile Expenses No. of Units: 6 Property Taxes + Direct Assessments $ 18,538 $ 18,538 Year Built: 1934 New Insurance Quote $ 1,200 $ 1,200 Square Footage: 2,400 Utilities $ 3,600 $ 3,600 Lot Size: 9,924 Trash $ 1,440 $ 1,440 Zoning: LCR3YY Repairs & Maintenance $ 4,277 $ 4,633 Construction Type: W/F Stucco Reserves for Replacement $ 600 $ 600 Roof Type: Composite Parking: On-Site Total Expenses $ 29,655 $ 30,011 Type: Apartment Parcel No.: Per Unit $ 4,942 $ 5,002 Per Foot $ $ Broker Contact Lic. # Net Operating Income $ 55,881 $ 62,653 Less: Debt Service $ 37,024 $ 37,024 Direct Line: Pre-Tax Cash Flow $ 18,858 $ 25,629 Direct Fax: eviramontes@remaxcir.com Return 3.57% 4.85% NOTES: Figures are estimates only and based on industry standards. These numbers should be adequate considering the recent renovations and upgrades to the property. Property taxes are based on a reassessment at the current tax rate. 550 South Hope St, Ste. 500 Los Angeles CA ReMax Commercial Realty and Agent makes no warranty or representation about the content of this brochure. It is your responsibility to indendependtly confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the present or future performance of the property. The presence of molds may adversely affect the property and the health of some. If you have questions or concerns regarding this issue conduct further inspections by a qualified professional.