University Office Park

Transcription

1 Development by: University Office Park 2501 E. Chapman Ave., Fullerton, CA Peichin Lee (C) Gordon Lau (C) AL Capital, Inc Rowland St., #208 City of Industry, CA Tel: Fax: CalBRE#

2 Project: Vicinity Map 2501 E. Chapman Ave., Fullerton, CA 92831

3 Aerial View of Site

4 Site Plan and Photos SITE PLAN 34 Office condo units for sale and for lease. Year Built: Renovations to the interior and exterior. Total lot size is about 1.70 acres. Building is 2 stories high and totals approximately 34,563 SF. Offices range in size from 519 SF to 3,204 SF. If needed, units can be easily combined for more space. Building is located west of FWY 57 and main cross streets are E. Chapman Ave. & S. State College Blvd. Located within walking distance to Cal State Fullerton and various retail and food outlets. Fullerton Brea Placentia Population 138,425 42,397 55,984 Household Income $90,055 $93,576 $81,870 East Chapman Ave. All information provided herein is approximate and also subject to change without notice due to considerations related to design, use, construction or government requirements.

5 Floor Plan All information provided herein is approximate and also subject to change without notice due to considerations related to design, use, construction or government requirements.

6 Office Condo Price List SUITE RENTABLE SQUARE FOOT Purchase Price $366, $216, $301, ,312 $522, ,051 $418, $375, ,261 $501, ,215 $483, $283, $345, $325, $201, $326, $301, $282, $327, ,291 $490,580 Price as shown is for AS IS condition. Property is zoned for commercial use. Medical use may be allowed. Broker Cooperation: 3% commission to selling brokers who represent the buyer/lessee in the completed transaction. Monthly association fees (including property, fire, and liability insurance and CAM charge) is approximately $0.25 per gross square foot per month. *square footage shown is approximate

7 Office Condo Price List SUITE RENTABLE SQUARE FOOT Purchase Price 200 1,757 $667, ,048 $398, ,176 $446, ,204 $1,217, ,444 $548, $212, $197, $297, ,508 $573, ,036 $393, $322, $326, $291, ,061 $403, $345, $259, $309,320 Price as shown is for AS IS condition. Property is zoned for commercial use. Medical use may be allowed. Broker Cooperation: 3% commission to selling brokers who represent the buyer/lessee in the completed transaction. Monthly association fees (including property, fire, and liability insurance and CAM charge) is approximately $0.25 per gross square foot per month. *square footage shown is approximate

8 Purchase vs Lease Analysis* Unit Size 745 SF 1,291 SF 1,444 SF Purchase Price $283,100 $490,580 $548,720 Down Payment (15%) Mortgage (5% interest) Property Tax (1.18%) Association Fee ($0.25/SF) $42,465 $73,587 $82,308 $1,003/mo. $1,737/mo. $1,943/mo. $278/mo. $482/mo. $540/mo. $186/mo. $323/mo. $361/mo. Total Monthly Payments $1,467 $2,543 $2,844 Lease Rate at $2/SF $1,490 $2,582 $2,888 Build up your own equity through mortgage payments. Take advantage of the historically low interest rates. Enjoy the property value appreciation. Pride of ownership, with great location & quality. Owner occupy or income property with good return on investment. No more tedious landlord relationship and surprise rent increases. Flexibility to sell or lease at any time. *based on current interest estimates, property tax rate includes special assessment fees and is approximate

9 Financing Procedure 1. There is no need to work with a loan broker for your commercial financing. You can work with any commercial bank directly by calling their real estate department. 2. You may make an inquiry with the bank during the due diligence period. However for new construction, you may start the formal financing process 4 months prior to completion of the building. The appraisal report is only good for about 6 months. 3. When you meet with the bank, please provide a copy of your Purchase Agreement, three years of tax returns, and your personal financial statement. 4. Request a Letter of Interest from the lenders. 5. Selectthemostfavorablelender,signandreturntheLetterofInterest,andattachacheckfortheappraisalfeeand any other fees requested by the lender. 6. After your lender has received your executed Letter of Interest and appraisal fee, etc., they will formally process your loan application. a. Foraconventionalloan,Loan-to-Valueratiocanbeupto75%andcantakeupto45days. b. For a Small Business Administration loan, Loan-to-Value ratio can be up to 90% and it can take an extra 30 days to have the loan approved. c. Thetimeforapprovalmayvarydependingontheexperienceofyourloanofficerandwhetheryoucantimely provide the lender with the requested documents. 7. Orderandsigntheloandocumentseitheratyourbank sofficeorattheescrowcompany. Pleasekeepinmindthat thebankneedsaminimumof3daystofundaftersigning. 8. Onceyousigntheloandocuments,wiretransferthebalanceofyourdownpaymenttotheescrowcompany. 9. Yourlenderwillfundtheloanafteryourbalanceisreceivedbytheescrowcompany. 10.Once the escrow company receives the full purchase amount, it will record the Grant Deed with the county recorder sofficethe2 nd day. Congratulations,yourescrowisclosed!

10 Lenders Familiar with CGM Projects David Chan (626) Lisa Chiu (626) Brian Smith (562) Virginia Lee (626)

11 Intro to Condominium Conversion Process First and foremost, CGM Development would like to thank you for your interest in our office condominium projects. To provide you with a better understanding of the condo conversion process, we would like to share the general process of how an existing building is converted into individual office or medical condo units that are available for purchase: 1. Our team of licensed civil engineers/land surveyors analyze and measure the existing building, including the common areas and individual units. They then use these measurements to draw a Tentative Map and a Condominium Plan, which shows the property boundaries (building boundaries and the borderlines of the individual units and common areas). CGM and its attorneys will also create CC&Rs to govern the property and owner s association. 2. The Tentative Map is submitted to the City and any other applicable government agencies for their review. Once approved, the civil engineer will create the Final Map to be recorded in the public records of the County Recorder. In addition, the CC&Rs is reviewed by the City and the City attorney. 3. After the City s approval, CGM sends the Final Map, CC&Rs and Condominium Plan to a reputable title insurance company for review. The title insurance company, through its legal/title/real estate department, then assists in creating the new legal description for each condo unit. 4. After obtaining the above reviews and approvals, the Final Map, CC&Rs and Condominium Plan are recorded in the public records of the County Recorder and the condo units may be owned or sold by individual or business owners.

12 CGM Development Past Projects Grandview Medical Plaza Roswell Ave, Chino, CA Nogales Plaza 2707 East Valley Blvd, West Covina, CA Diamond Star Office Condo 2705 Diamond Bar Blvd, Diamond Bar, CA Metro Centre Office Condo 3333 S Diamond Bar Blvd, Diamond Bar, CA Brea Canyon Office Condo 680 Brea Canyon Road, Diamond Bar, CA DB Office Condo 660 N Diamond Bar Blvd, Diamond Bar, CA Montclair Office Building 4950 San Bernardino St, Montclair, CA Lambert Office Plaza 1800 E Lambert Rd, Brea, CA Currently on market! Contact us for more information.