EXPOSITION BOULEVARD LOS ANGELES, CA 90016

Size: px

Start display at page:

Download "EXPOSITION BOULEVARD LOS ANGELES, CA 90016"

Bernard Charles
6 years ago
Views:

CA BRE Broker License #1866167 MULTI-FAMILY INVESTMENT

ANGELES, CA 916 POWER PROPERTIES COMMERCIAL REAL ESTATE

PROXIMITY TO METRO EXPO LINE STOP (FARMDALE STATION) Joshua

31-499-288 CARPORT PARKING (4 SPACES) Mobile: 31-42-844 Fax:

PARTIAL VERTICAL) ('16) NEWER WINDOWS & EXTERIOR STAIRCASE 11295

1 CA BRE Broker License # MULTI-FAMILY INVESTMENT OPPORTUNITY 4 UNITS - LOS ANGELES EXPOSITION BOULEVARD LOS ANGELES, CA 916 POWER PROPERTIES COMMERCIAL REAL ESTATE EXCLUSIVELY OFFERED AT: $949, INVESTMENT HIGHLIGHTS CLOSE PROXIMITY TO METRO EXPO LINE STOP (FARMDALE STATION) Joshua Johnson WEST ADAMS NEIGHBORHOOD Managing Director Direct: CARPORT PARKING (4 SPACES) Mobile: Fax: SIGNIFICANT UPSIDE IN RENTS (25%+) josh@powerpropertygrp.com CA BRE License # PLUMBING UPGRADES (HORIZONTAL & PARTIAL VERTICAL) ('16) NEWER WINDOWS & EXTERIOR STAIRCASE Washington Blvd. Culver City, CA SEPARATELY METERED FOR GAS & ELECTRICITY TENANTS PAY FOR TRASH REMOVAL INDIVIDUAL WATER HEATERS

2 Multi-Family - Pricing/Financial Analysis RENT SCHEDULE Exposition Blvd., Los Angeles, CA 916 # OF TENANTS MOVE IN LEASE NEXT INCREASE CURRENT MARKET RENTAL UNIT # UNIT TYPE ON LEASE DETAILS DATE TERM DATE RENT RENT UPSIDE X/X/1999 Month to Month 1/1/217 $ * $1, % 441 1/ /1/216 9/3/217 1/1/217 $1,586.2 * $1,6..9% N/A Vacant N/A N/A N/A $1,6. ** $1,6..% 443 1/ /5/214 Month to Month 1/1/217 $1,236. * $1, % *Rents as of 1/1/217 **Projected re-rental amount SCHEDULED INCOME (MONTHLY): $5, $6,7. SCHEDULED INCOME (ANNUALLY): $61,93.8 $8, % This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied as to the accuracy of the information. References to SF, age market rent are approximate. 217 JRJ of PPG

3 CA BRE Broker License # Culver City Office Washington Blvd. Culver City, CA 923 Joshua Johnson Managing Director Direct: CA BRE License # MULTI-FAMILY / PRICING & FINANCIAL ANALYSIS PRICING SUMMARY PROPERTY DESCRIPTION Price: $949, Property Exposition Blvd. Down Payment: 35% $332,15 Address: Los Angeles, CA 916 No. of Units: 4 Price per Unit: $237,25 APN: Building Size: 2,748 Price per SF: $ Zoning: LAR3 Lot Size: 6,16 Price per SF Lot Size: $ Usage: Quadruplex Year Built: 194 VALUE INDICATORS FINANCING TERMS: FIRST TRUST DEED SECOND TRUST DEED Current GRM: Loan Amount: $616,85 $1, Current Cap Rate: 4.1% Type/Term/Amortization: 3 Year Fixed / 3 / 3 5 Current Cash Flow % (Pre-Tax):.41% Interest Rate: 4.5% 6.% Pro Forma GRM: 11.8 Monthly Payment: $3,125 $5 Pro Forma Cap Rate: 5.96% Yearly Payment: $37,56 $6, Pro Forma Cash Flow % (Pre-Tax): 5.73% Debt Coverage Ratio / %: 1.4 / 96% None Rental Upside: 29.9% Lender: JPMorgan Chase Seller OPERATING DATA Scheduled Gross Income: Less Vacancy & Credit Loss: Effective Gross Income: Less Operating Expenses: Net Operating Income: Less Loan Payments: Cash Flow (Pre-Tax): Plus Principal Reduction: Total Return (Pre-Tax): SCHEDULED INCOME CURRENT PRO FORMA $61,94 $81,9 $3,95 5% $4,2 5% $58,89 $77,88 $19, % $21, % $38,868 $56,539 $37,56 $37,56 $1,362.41% $19, % $9,951 $9,951 $11, % $28, % EXPENSES CURRENT MARKET Property Taxes (1.25% x Sales Price) $11,863 59% # of Units 3 1 Unit Type Average Rent $1,38 $1,236 #DIV/! #DIV/! #DIV/! #DIV/! #DIV/! #DIV/! Monthly Totals $3,923 $1,236 Average Rent $1,6 $1,9 Monthly Totals $4,8 $1,9 Insurance ($.5/sq. ft.) Maintenance & Repair (5%) Water/Sewer ($25 x 6 months) Grounds Maintenance ($5/month) RSO Registration & SCEP Fees Reserves (2% of SGI) $1,374 $3,95 $1,5 $6 $271 $1,238 7% 16% 8% 3% 1% 6% % % % % % Scheduled Rental Income: Additional Income (Parking): $5,159 $6,7 $75 Total Expenses: $19,941 1% Additional Income (Laundry): $5 Per Building Size SF: $7.26 Total Monthly Income: $5,159 $6,825 Per Unit: $4,985 Annual Scheduled Gross Income: $61,94 $81,9 % of EGI: 33.91% This information has been secured from sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to its accuracy. References to SF, age, expenses & financing terms are approximate. Recipient(s) must verify the information and bears all risk for any inaccuracies. 217 JRJ of PPG

4 Multi-Family - Property Description INVESTMENT HIGHLIGHTS CLOSE PROXIMITY TO METRO EXPO LINE STOP (FARMDALE STATION) WEST ADAMS NEIGHBORHOOD CARPORT PARKING (4 SPACES) SIGNIFICANT UPSIDE IN RENTS (25%+) PLUMBING UPGRADES (HORIZONTAL & PARTIAL VERTICAL) ('16) NEWER WINDOWS & EXTERIOR STAIRCASE SEPARATELY METERED FOR GAS & ELECTRICITY TENANTS PAY FOR TRASH REMOVAL INDIVIDUAL WATER HEATERS UPDATED UNITS (3) LAUNDRY ROOM POTENTIAL PROPERTY DESCRIPTION INVESTMENT OVERVIEW Exposition Blvd., Los Angeles, CA 916 Power Properties Commercial Real Estate is pleased to offer for sale this four unit apartment building consisting of three 1+1 units and an upstairs 2+1. Capital improvements include plumbing upgrades to the horizontal and vertical pipes (2 of 4 units), newer windows and a refurbished exterior staircase. Three of the units have turned over in the past couple of years and been updated (one of which will be left vacant at the close of escrow). The remaining unit is occupied by long term tenants paying a significantly lower rental rate than the current rental market bears allowing a new owner to capture this rental upside over time. On-site parking is provided by two two car detached carports and there is also a backyard for the tenants to enjoy. Attached to the back of the carports is a storage room that was once used as a laundry room. With the installation of a tankless water heater, an electric meter and laundry equipment, this room could once again be an amenity of the building. Reoccurring expenses are minimal as the building is separately metered for both gas and electricity, each unit has its own individual water heater and the tenants pay for trash removal. AREA DESCRIPTION The subject property is located on the northwest corner of Potomac Ave. between La Brea Ave. & Crenshaw Blvd. in the West Adams neighborhood. The Metro Expo Line runs down Exposition Blvd. with a station (Farmdale) two blocks away providing residents with a convenient mode of transportation to Culver City, Santa Monica and Downtown Los Angeles. With the planned expansion of the light rail system, residents will soon be able to travel down the Crenshaw corridor to Inglewood, LAX and beyond. Parks and schools all within a half mile of the subject property include the Rancho Cienega Recreation Center, Vineyard Recreation Center, Dorsey High School and Virginia Road Elementary School. There are also multiple developments planned and in construction within the immediate area. Mayor Eric Garcetti s Great Streets program will transform Crenshaw Blvd. between Florence Ave. & 78th Pl. with the addition of bike racks, plazas, crosswalks and other improvements aimed at attracting pedestrians and new business. Kaiser Permanente purchased 8.65 acres of Marlton Square in May of 212 and is near completion on a cutting-edge 1, square foot medical facility. The $93 million District Square project at the corner of Crenshaw Blvd. & Rodeo Rd. has already broken ground. This two story 3, square foot urban retail shopping center will have a market and other retailers on the ground floor, additional retailers on the 2nd floor, and roof top parking. And by far the most ambitious project envisioned for the area is the dramatic overhaul planned for the 43 acre site of the Baldwin Hills Crenshaw Plaza (BHCP). In 212, the mall went through a $35 million renovation which included a brand new movie theater, new dining options, a dining atrium, a live entertainment performance area, and extensive exterior building, site, and landscaping improvements. Once the Crenshaw light rail project is completed in 219, it will have a portal directly into the Baldwin Hills Crenshaw Plaza. To meet this light rail stop, the BHCP is planning a huge revamping that will transform the site into a round the clock community. Mall owners are envisioning a bold remake that would add two million square feet of new retail and hotel space, plus offices, condos, and apartments on nearly every spare inch of the site that's not currently occupied by the mall. This information has been secured from sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to its accuracy. References to SF, age, expenses & financing terms are approximate. Recipient(s), Buyer(s), Agent(s) and Provider(s) must verify the information and bear all risk for any inaccuracies. A physical inspection, examination of public records and complete review of property books and records is strongly recommended. 217 JRJ of PPG

Multi-Family - Maps AERIAL PHOTOS 441-3 Exposition Blvd.

as to the accuracy of the information. Recipient(s) must verify the information and bears all risk for any inaccuracies.

5 Multi-Family - Maps AERIAL PHOTOS Exposition Blvd., Los Angeles, CA 916 This information has been secured from sources we believe to be reliable; however we make no representations or warranties, expressed or implied, as to the accuracy of the information. Recipient(s) must verify the information and bears all risk for any inaccuracies. This map should not be relied upon to establish the exact location of property lines or the location of any feature in relation to this property line. To establish these with certainty, the recipient(s) must enlist the services of a professional surveyor registered to practice in the same state as the subject property. 217 JRJ of PPG

6 Multi-Family - Maps AERIAL PHOTOS Exposition Blvd., Los Angeles, CA 916 This information has been secured from sources we believe to be reliable; however we make no representations or warranties, expressed or implied, as to the accuracy of the information. Recipient(s) must verify the information and bears all risk for any inaccuracies. This map should not be relied upon to establish the exact location of property lines or the location of any feature in relation to this property line. To establish these with certainty, the recipient(s) must enlist the services of a professional surveyor registered to practice in the same state as the subject property. 217 JRJ of PPG

Multi-Family - Maps MAPS 441-3 Exposition Blvd.

7 Multi-Family - Maps MAPS Exposition Blvd., Los Angeles, CA 916 This information has been secured from sources we believe to be reliable; however we make no representations or warranties, expressed or implied, as to the accuracy of the information. Recipient(s) must verify the information and bears all risk for any inaccuracies. This map should not be relied upon to establish the exact location of property lines or the location of any feature in relation to this property line. To establish these with certainty, the recipient(s) must enlist the services of a professional surveyor registered to practice in the same state as the subject property. 217 JRJ of PPG

Multi-Family - Maps METRO LINE MAP 441-3 Exposition Blvd., Los Angeles, CA 916 SP = Subject Property This Metro rail line map was created by LA Metro.

8 Multi-Family - Maps METRO LINE MAP Exposition Blvd., Los Angeles, CA 916 SP = Subject Property This Metro rail line map was created by LA Metro. All information and maps have been secured from sources we believe to be reliable; however we make no representations or warranties, expressed or implied, as to the accuracy of the information. The location of the subject property in relation to the existing and planned Metro lines and stations is estimated and therefore should not be relied upon to determine the exact location of the subject property in relation to the existing and planned Metro lines and stations. Recipient(s) must verify the information and bears all risk for any inaccuracies. 217 JRJ of PPG

MULTI-FAMILY INVESTMENT OPPORTUNITY 441-3 Exposition Blvd.

9 MULTI-FAMILY INVESTMENT OPPORTUNITY Exposition Blvd. Los Angeles, CA 916 MULTI-FAMILY INVESTMENT GROUP Joshua Johnson Managing Director Culver City Office Direct: Fax: CA BRE License # Culver City Office Washington Blvd. Culver City, CA 923

4347 & 4355 MAMMOTH AVENUE SHERMAN OAKS, CA 91423

CA BRE Broker License #1866167 MULTI-FAMILY INVESTMENT OPPORTUNITY 21 UNITS - SHERMAN OAKS 4347 & 4355 MAMMOTH AVENUE SHERMAN OAKS, CA 91423 POWER PROPERTIES EXCLUSIVELY OFFERED AT: $5,95, COMMERCIAL REAL