EXCLUSIVELY LISTED BY: LAURIE INADOMI-HALVORSEN & FRANK PONCE or

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Jane Berry
5 years ago
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$2,675,000 12 UNITS* INVESTMENT OVERVIEW Price: $2,675,000 Down Payment: $1,297,375

GRM w/ncus: 14.73 12.95 GRM w/out NCUs: 16.57 14.82 GRM w/3-bdrms: 15.17 13.

98% Year Built: 1958 Parking spaces: 18 Approximate Lot Size: 8,747 Approxiamte Bldg

1 $2,675, UNITS* INVESTMENT OVERVIEW Price: $2,675,000 Down Payment: $1,297,375 Number of Units: 12* w/ncu w/out NCUs Cost Per Unit: $222,917 $267,500 ACTUAL PROJECTED GRM w/ncus: GRM w/out NCUs: GRM w/3-bdrms: Cap Rate: 4.60% 5.48% Cap Rate w/out NCUs: 3.88% 4.56% Cap Rate w/3-bdrms: 4.41% 4.98% Year Built: 1958 Parking spaces: 18 Approximate Lot Size: 8,747 Approxiamte Bldg Size: 8,116 Cost Per SF: $ Includes 2 Non-Conforming units which were originally part of two 3-bedroom units.

2 REDONDO BEACH, CA Confidentiality Statement This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an indepth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the Coldwell Banker Commercial affiliate or by the Seller. The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections. This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent. Interested buyers should be aware that the Seller is selling the Property AS IS CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer s choosing. The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties. Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY UPON ACCEPTED PURCHASE CONTRACT. PLEASE CONSULT FRANK PONCE OR LAURIE INADOMI-HALVORSEN FOR MORE DETAILS. DO NOT DISTURB TENANTS.

RENT ROLL UNIT TYPE ACTUAL MARKET SCHEDULED INCOME W/ Non-Conforming Units # UNITS UNIT TYPE AVG RENT/UNIT MONTHLY INCOME A B C D E F G H I* J K L* $1,260 $1,320 $1,300 $1,250 $1,440

00 $4,480 $1,660 $8,8890 Total Rental Income Laundry Income GI/Mo. GI/Yr. ACTUAL MARKET $15,030 $17,140 $87 $87 $15,117 $17,227 $181,404 $206,724 New taxes 1.

$2,194 $1,806 $2,316 $1,131 $600 $6,734 $259 $49,521 $4,127 $6.10 Based on $1,377,625 1 st TD at 5.

3 RENT ROLL UNIT TYPE ACTUAL MARKET SCHEDULED INCOME W/ Non-Conforming Units # UNITS UNIT TYPE AVG RENT/UNIT MONTHLY INCOME A B C D E F G H I* J K L* $1,260 $1,320 $1,300 $1,250 $1,440 $1,120 $820 $1,280 $1,360 $840 $1,095 $1, EXPENSES ADDITIONAL INCOME: Laundry Income $87 Monthly SGI $15,117 Annual SGI $181,404 $1, $ $1, $4,480 $1,660 $8,8890 Total Rental Income Laundry Income GI/Mo. GI/Yr. ACTUAL MARKET $15,030 $17,140 $87 $87 $15,117 $17,227 $181,404 $206,724 New taxes 1.16% Insurance Water Trash Gas (Laundry Room) Electric (Common areas) Gardener Repairs & Maintenance Licenses/Permits TOTAL EXPENSES Expenses Per Unit Expenses Per SQ FT $31,030 $3,451 $2,194 $1,806 $2,316 $1,131 $600 $6,734 $259 $49,521 $4,127 $6.10 Based on $1,377,625 1 st TD at 5.60% amortized 30 Years Fixed for 3 years ANNUALIZED OPERATING DATA Scheduled Gross Income (Vacancy) 5% Effective Gross Income (Expenses) Net Operating Income Debt Service Pre-tax Cash flow ACTUAL $181,560 $9,078 $172,482 $49, % $122,961 $28, % MARKET $206,520 $10,326 $196,194 $49, % $146,673 $51, %

4 RENT ROLL UNIT TYPE ACTUAL MARKET SCHEDULED INCOME Without Non-Conforming Units # UNITS UNIT TYPE AVG RENT/UNIT MONTHLY INCOME A B C D E F G H I* J K L* $1,260 $1,320 $1,300 $1,250 $1,440 $1,120 $1,280 $1, EXPENSES ADDITIONAL INCOME: Laundry Income $87 Monthly SGI $13,457 Annual SGI $161,484 $1, $1, $4,480 $8,8890 Total Rental Income Laundry Income GI/Mo. GI/Yr. ACTUAL MARKET $13,370 $14,950 $87 $87 $13,457 $15,037 $161,484 $180,444 New taxes 1.16% Insurance Water Trash Gas (Laundry Room) Electric (Common areas) Gardener Repairs & Maintenance Licenses/Permits TOTAL EXPENSES Expenses Per Unit Expenses Per SQ FT $31,030 $3,451 $2,194 $1,806 $2,316 $1,131 $600 $6,734 $259 $49,521 $4,952 $6.10 Based on $1,377,625 1 st TD at 5.60% amortized 30 Years Fixed for 3 years ANNUALIZED OPERATING DATA Scheduled Gross Income (Vacancy) 5% Effective Gross Income (Expenses) Net Operating Income Debt Service Pre-tax Cash flow ACTUAL $161,484 $8,074 $153,410 $49, % $103,889 $8,985.69% MARKET $180,444 $9,022 $171,422 $49, % $121,901 $26, %

5 RENT ROLL UNIT TYPE ACTUAL MARKET SCHEDULED INCOME With the two 3-bedrooms added back # UNITS UNIT TYPE AVG RENT/UNIT MONTHLY INCOME A B C D E F G H I* J K L* $1,260 $1,320 $1,300 $1,250 $1,120 $1,280 $1, EXPENSES $1,270 ADDITIONAL INCOME: Laundry Income $87 Monthly SGI $14,697 Annual SGI $176,364 $4,200 $8,890 Total Rental Income Laundry Income GI/Mo. GI/Yr. ACTUAL MARKET $14,610 $15,950 $87 $87 $14,697 $16,037 $176,364 $192,444 New taxes 1.16% Insurance Water Trash Gas (Laundry Room) Electric (Common areas) Gardener Repairs & Maintenance Licenses/Permits TOTAL EXPENSES Expenses Per Unit Expenses Per SQ FT $31,030 $3,451 $2,194 $1,806 $2,316 $1,131 $600 $6,734 $259 $49,521 $4,952 $6.10 Based on $1,377,625 1 st TD at 5.60% amortized 30 Years Fixed for 3 years ANNUALIZED OPERATING DATA Scheduled Gross Income (Vacancy) 5% Effective Gross Income (Expenses) Net Operating Income Debt Service Pre-tax Cash flow ACTUAL $176,364 $8,818 $167,546 $49, % $118,025 $23, % MARKET $192,444 $9,622 $182,822 $49, % $133,301 $38, %

PROPERTY DESCRIPTION AND LOCATION MAP The subject property is a unit mix of 3 two- bedrooms, 2 bachelor units, and 7 one-bedroom units. The property has been wonderfully maintained throughout.

6 PROPERTY DESCRIPTION AND LOCATION MAP The subject property is a unit mix of 3 two- bedrooms, 2 bachelor units, and 7 one-bedroom units. The property has been wonderfully maintained throughout. A new reflective roof coating has just been installed and has been copper repiped as well. This apartment building is nestled in a quiet residential neighborhood within one block from scenic Redondo Beach. The Hollywood Riviera is the jewel of the South Bay. The location is not far from the 405 freeway, other gorgeous Southern California beaches and Los Angeles International Airport.

The subject property is situated in the prime

Hollywood Riviera section of Torrance with a

Riviera Village, shopping, restaurants and the

distance from the property. Do not disturb tenants.

7 The subject property is situated in the prime Hollywood Riviera of Redondo Beach, between scenic Miramar Park and Via Riviera. It is one short block to the sandy beach in the Hollywood Riviera section of Torrance with a Redondo Beach P.O. address. Riviera Village, shopping, restaurants and the beautiful South Bay beaches are all within walking distance from the property. Do not disturb tenants. Call Frank at or Laurie at Frank Ponce DRE Lic. # Laurie Inadomi-Halvorsen DRE Lic. # EXCLUSIVELY LISTED BY: LAURIE INADOMI-HALVORSEN & FRANK PONCE or

EXCLUSIVELY LISTED BY: LAURIE INADOMI-HALVORSEN & FRANK PONCE or

EXCLUSIVELY LISTED BY: LAURIE INADOMI-HALVORSEN & FRANK PONCE or F O R S A L E PRIME REDONDO BEACH APARTMENT BUILDING 142 PASEO DE LA CONCHA REDONDO BEACH, CA OFFERING MEMORANDUM Presented by: Frank Ponce Multi-Family Group (310) 791-6086 frank@frankponce.com DRE Lic.