E. 5th Street OFFERING MEMORANDUM MULTI-FAMILY INVESTMENTS

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Prudence Lindsey
5 years ago
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1 441 E. 5th Street OFFERING MEMORANDUM MULTI-FAMILY INVESTMENTS

Sale Price: $1,100,000 Sale Price/RSF: $312.50 Sale Price/Unit: $275,000 Rentable SF: 3,520 SF Lot Size SF: 3,010 SF Units: 4 Floors: 2 Year Built: 1918 APN: 7281-002-027 Features: 441 E.

Surrounded by new development, hip coffee shops, clothing stores, restaurants and the metro this investment will not disappoint. 441 E.

2 Sale Price: $1,100,000 Sale Price/RSF: $ Sale Price/Unit: $275,000 Rentable SF: 3,520 SF Lot Size SF: 3,010 SF Units: 4 Floors: 2 Year Built: 1918 APN: Features: 441 E. 5th Street is a highly sought after four unit investment building located in the city of Long Beach s ever revitalizing Downtown neighborhood. Surrounded by new development, hip coffee shops, clothing stores, restaurants and the metro this investment will not disappoint. 441 E. 5th Street is not only superbly located, it s architectural integrity and design is highly sort after in the rental market. With high ceilings, large bedrooms, large closets and wonderful floor plans there is always a waiting list. Along with the high demand for this style of building and location Long Beach currently has a 98% occupancy rate. Rents in this building are currently 25% below market, there is plenty of upside potential. 441 Nearby schools include Southern Community Day School, Select Community Day (Secondary) School and Stevenson Elementary School. The closest grocery stores are El Super, El super #49 and Pete s Market. Nearby coffee shops include Berlin Bistro, Berlin Coffee House and Sweet Dixie Kitchen. Nearby restaurants include Louis Burgers, Ahimsa Vegan Kitchen and Ahimsa Vegan Cafe. E. 5th Street INVESTMENT SUMMARY This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE#

UNIT MIX MONTHLY REPORT 441 E. 5TH STREET Units Floor Plan Approx. SqFt. Avg.

We have not verified it and make no guarantee, warranty or representation about it.

You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act.

3 UNIT MIX MONTHLY REPORT 441 E. 5TH STREET Units Floor Plan Approx. SqFt. Avg. Rents Monthly Market Rents Monthly 4 I - bd, 1 - ba 880 $1,178 $4,712 $1,700 $6, ,520 $4,712 $6,800 This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. George Bustamante Mobile: (714) GBustamante@cbcblair.com BRE# Steve Warshauer Mobile: (562) SteveW@cbcblair.com BRE# Cameron Jacques Mobile: (310) CJacques@cbcblair.com BRE#

4 SALES COMPARABLES 441 E. 5TH STREET Address Sale Price Units Price/Door Price/SF Sale Date 441 E 5th Street 1323 E. Florida Street 1727 E. 1st Street 1719 E. Florida Street 1919 E. 6th Street N/A 4 $275,000 $ N/A $1,123,000 4 $280,750 $ /23/16 $1,095,000 4 $273,750 $ /12/2016 $1,095,000 4 $273,750 $ /31/2016 $1,100,000 4 $275,000 $ /26/2016 This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. George Bustamante Mobile: (714) GBustamante@cbcblair.com BRE# Steve Warshauer Mobile: (562) SteveW@cbcblair.com BRE# Cameron Jacques Mobile: (310) CJacques@cbcblair.com BRE#

441 E. 5th Street long beach, CA 90802 City Place Long Beach Shopping Center Elm Ave. 4th Street Linden Ave. 5th Street 441 E.

62% # of Households 29,512 89,413 145,659 Average Household Income $55,301 $65,074 $76,359 Median Age 32.4 32.6 33.

Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property.

needs. Corporate BRE# 01330395. 2017 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved.

5 441 E. 5th Street long beach, CA City Place Long Beach Shopping Center Elm Ave. 4th Street Linden Ave. 5th Street 441 E. 5TH STREET - DEMOGRAPHICS 1 Mile 3 Miles 5 Miles Population 75, , ,672 Population growth 0.77% 0.73% 0.62% # of Households 29,512 89, ,659 Average Household Income $55,301 $65,074 $76,359 Median Age This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.

LOCAL AERIAL MAP 441 E. 5TH STREET The Pike Outlet Marketplace Aquarium of the Pacific Gov.

5th STreet long beach, CA 90802 This information has been obtained from sources believed reliable.

Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the

6 LOCAL AERIAL MAP 441 E. 5TH STREET The Pike Outlet Marketplace Aquarium of the Pacific Gov. George Deukmejian Courthouse Long Beach Convention & Entertainment Center Rainbow Lagoon Park Ocean Blvd. City Hall Linden Ave E. 5th STreet long beach, CA This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. George Bustamante Mobile: (714) GBustamante@cbcblair.com BRE# Steve Warshauer Mobile: (562) SteveW@cbcblair.com BRE# Cameron Jacques Mobile: (310) CJacques@cbcblair.com BRE#

7 INTERIOR PROPERTY PHOTOS 441 E. 5TH STREET George Bustamante Mobile: (714) BRE# Steve Warshauer Mobile: (562) BRE# Cameron Jacques Mobile: (310) BRE#

The information presented in this offering is based upon the knowledge of the offering broker and owner (without the duty of inquiry or investigation) for the purposes of giving prospective buyers

Although the information is provided in good faith, and is believed to be accurate, the property is being sold as is, and all prospective buyers are solely responsible for confirming the accuracy

8 The information presented in this offering is based upon the knowledge of the offering broker and owner (without the duty of inquiry or investigation) for the purposes of giving prospective buyers notice of specific conditions which, among other things, the prospective buyer should pay particular attention to during their due diligence. Although the information is provided in good faith, and is believed to be accurate, the property is being sold as is, and all prospective buyers are solely responsible for confirming the accuracy thereof through their own inspection, testing, and investigation in the course of due diligence. This includes, without limitation, the value, liens, easements, rights of way, size, condition, presence of hazardous substances, oil wells, geologic formations, governmental approvals and entitlements, traffic, and all other conditions which affect the value and/or desirability of the property. 441 E. 5th Street DISCLAIMER MULTI-FAMILY INVESTMENTS

for lease 3,112 SF Office suite In Prime California Heights

3530 atlantic Avenue for lease 3,112 SF Office suite In Prime California Heights George Bustamante Vice President Mobile: (714) 856-7017 GBustamante@cbcblair.com Steve Warshauer Vice President Mobile: