1013 N. Ross St SANTA ANA, CA OFFERING MEMORANDUM

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Susan Joseph
6 years ago
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1 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!

2 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 Courtyard Strong Santa Ana Location with Easy I-5 Freeway Access Each Unit Has Their Own Garage and Air Conditioning Vent One Unit is a 2 Bedroom / 1 Bathroom House Located in the Front of the Property Marcus & Millichap is pleased to present this seven unit investment opportunity located in the City of Santa Ana. This property has a great unit mix of one and two bedroom units. Current rents are effective February 1, Each unit is individually metered for electricity and gas. The tenants each pay for their own gas and electricity. Units have their own garages and in-window air conditioners. This is a low maintenance investment opportunity. The building is in a strong location near the I-5 & 55 Freeways, placing tenants in close proximity to major retail, entertainment, and employment opportunities. It's minutes from downtown Santa Ana N Ross St. is also less than a mile from Washington Square, Historic French Park, and various schools.

3 PRICING AND FINANCIAL ANALYSIS FINANCIAL OVERVIEW Location 1013 N. Ross St Santa Ana, CA Price $1,595,000 Down Payment 40% / $638,000 Number of Units 7 Price/Unit $227,857 Rentable Square Feet 4,450 Price/SF $ CAP Rate - Current 4.67% CAP Rate- Pro Forma 5.64% GRM - Current GRM- Pro Forma Year Built 1960 Lot Size.24 Acres Type of Ownership Fee Simple Annualized Operating Data Income Current Pro Forma Gross Potential Rent $108,600 $124,440 Gross Potential Income $108,600 $124,440 Less: Vacancy/Deductions (GPR) 3.0% / $3, % / $3,733 Effective Gross Income $105,342 $120,707 Less: Expenses $30,788 $30,788 Net Operating Income $74,554 $89,919 Net Cash Flow Before Debt Service $74,554 $89,919 Debt Service $53,184 $53,184 Debt Coverage Ratio Net Cash Flow After Debt Service 3.3% / $21, % / $36,735 Principal Reduction $17,597 $17,597 Total Return 6.1% / $38, % / $54,332 Financing FIRST TRUST DEED Loan Amount $957,000 Loan Type Proposed New Interest Rate 3.75% Amortization 30 Years SECOND TRUST DEED Interest Rate 3.75% Amortization 30 Years Loan information is time sensitive and subject to change. Contact your local Marcus & Millichap Capital Corporation representative. Expenses Real Estate Taxes $17,600 $17,600 Insurance $2,600 $2,600 Utilities $4,476 $4,476 Gardener $1,200 $1,200 Repairs & Maintenance $3,500 $3,500 Special Assessments $1,412 $1,412 Total Expenses $30,788 $30,788 Expenses/unit $4,398 $4,398 Expenses/SF $6.92 $6.92 % of EGI 29.23% 25.51% Scheduled Income No. of Units Unit Type Approx. Square Feet Current Rents Rent/ SF Monthly Income Pro Forma Rents Rent/ SF Monthly Income 5 1 Bdr 1 Bath Den 700 $1,250 $1.79 $6,250 $1,395 $2.00 $6, Bdr 1 Bath 850 $1,350 $1.59 $1,350 $1,600 $1.88 $1, Bdr 1 Bath House 850 $1,450 $1.71 $1,450 $1,795 $2.11 $1,795 7 Total/Wtd. Avg. 4,450 $9,050 $10,370

4 PRICING AND FINANCIAL ANALYSIS INCOME & EXPENSES Total Number of Units: 7 Total Rentable Area: 4,450 SF Income Current Per Unit Pro Forma Per Unit GROSS POTENTIAL INCOME $108,600 $15,514 $124,440 $17,777 Vacancy/Collection Allowance (GPR) 3.0% / $3,258 $ % / $3,733 $533 EFFECTIVE GROSS INCOME $105,342 $15,049 $120,707 $17,244 Expenses Real Estate Taxes (1.1000%) $17,600 $2,514 $17,600 $2,514 Insurance $2,600 $371 $2,600 $371 Utilities $4,476 $639 $4,476 $639 Gardener $1,200 $171 $1,200 $171 Repairs & Maintenance $3,500 $500 $3,500 $500 Special Assessments $1,412 $202 $1,412 $202 TOTAL EXPENSES $30,788 $4,398 $30,788 $4,398 Expenses per SF $6.92 $6.92 % of EGI 29.2% 25.5% NET OPERATING INCOME $74,554 $10,651 $89,919 $12,846

5 PROPERTY SUMMARY The Offering Property Address 1013 N. Ross St Santa Ana, CA Assessor's Parcel Number Zoning Multi-Family Site Description Number of Units 7 Number of Buildings 3 Number of Stories 2 Year Built 1960 Rentable Square Feet 4,450 Lot Size.24 Acres Type of Ownership Fee Simple Density Low Parking Garage Parking Ratio 1:1 Landscaping Palm Trees, Grass, and Plants Topography Flat Utilities Water Phone Electric Gas Owner Tenant Tenant Tenant Construction Foundation Framing Exterior Parking Surface Roof Concrete & Asphalt Wood Stucco Concrete & Asphalt Flat

Unit Amenities In-Window Air Conditioning Unit Individually

6 AMENITIES Common Area Amenities Spacious and Nicely Landscaped Courtyard Shared BBQ Area New Garage Doors Newly Painted Exterior Unit Amenities In-Window Air Conditioning Unit Individually Metered For Electricity & Gas Garages For Each Unit Spacious Living Quarters

7 PROPERTY PHOTOS

8 AREA MAPS Local Map Regional Map

9 AERIAL PHOTO

511 La Cadena Way LA HABRA, CA OFFERING MEMORANDUM

511 La Cadena Way LA HABRA, CA OFFERING MEMORANDUM OFFERING MEMORANDUM INVESTMENT OVERVIEW Investment Highlights Strong Unit Mix of 1 & 2 Bedrooms, Good Curb Appeal, and Nicely Landscaped Units Are Separately Metered for Electric & Gas 4 of 8 Units Have