LONG BEACH BLVD. SOUTH GATE, CA 90280

Transcription

1 OFFERING MEMORANDUM $590, LONG BEACH BLVD. SOUTH GATE, CA MIXED-USE BUILDING MTM TENANCY / RENTAL UPSIDE

2 This Memorandum ( Offering Memorandum ) has been prepared by Hudson Partners, Inc. and BRC Advisors, Inc. based on information that was furnished to us by sources we deem to be reliable. No warranty or representation is made to the accuracy thereof; subject to correction of errors, omissions, change of price, prior sale, or withdrawal from market without notice. TABLE OF CONTENTS SECTION ONE 04 EXECUTIVE PROFILE This Memorandum is being delivered to a limited number of parties who may be interested in and capable of purchasing the Property. By its acceptance hereof, each recipient agrees that it will not copy, reproduce or distribute to others this Memorandum in whole or in part, at any time, without the prior written consent of Hudson Partners, Inc. and BRC Advisors, Inc., and it will keep permanently confidential all information contained herein not already public and will use this Confidential Memorandum only for the purpose of evaluating the possible acquisition of the Property. This Memorandum does not purport to provide a complete or fully accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information, which prospective buyers may need, or desire. All financial projections are based on assumptions relating to the general economy, competition and other factors beyond the control of the Owner and, therefore, are subject to material variation. This Memorandum does not constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this Memorandum. This Memorandum is being delivered by Hudson Partners Inc. and BRC Advisors, Inc., to prospective purchasers with the understanding that all prospective purchasers will conduct their own independent investigation of those matters, which they deem appropriate in order to evaluate this offering. Additional information and an opportunity to inspect the site will be made available to interested and qualified prospective purchasers. Hudson Partners, Inc. and BRC Advisors, Inc., reserves the right to request the return of any or all of the information enclosed. KANSAS AVE 9612 LONG BEACH BLVD MISSOURI AVE 2016 Hudson Commercial Partners, Inc. The information contained in this document has been obtained from sources believed reliable. While Brookfield Partners, Inc. does not doubt its accuracy, Hudson Commercial Partners, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors, which should be evaluated by your tax, financial and legal advisors. 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. Hudson Commercial Partners, Inc. and the Hudson Commercial Partners, Inc. logo are service marks of Hudson Commercial Partners, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. 2 3

3 KANSAS AVE 3,840 SF BUILDING 5,626 SF LOT MISSOURI AVE SECTION 1 EXECUTIVE OVERVIEW LONG BEACH BLVD

4 INVESTMENT OVERVIEW PROPERTY INFORMATION Hudson Partners and BRC Advisors are pleased to present a mixed-use building on Long Beach Blvd. There are two retail storefront month-to- site description DESCRIPTION SPECIFICATION Physical description DESCRIPTION SPECIFICATION month tenants, with generous ceiling height. The second floor has two apartment units with no rent control and the same unit mix 1 bedroom + ADDRESS Long Beach Blvd. CONSTRUCTION TYPE Wood-frame/Stucco 1 bath. This opportunity lends its self to an investor looking to stabilize BUILDING SIZE 3,840 SF with market rents. On the other hand, an owner-user buyer can occupy the ground floor and obtain an SBA Loan at 90% loan-to-value. The PARCEL AREA 5,626 SF FOUNDATION Concrete Slab current annual gross income is $40,800 which is equal to $0.89 per square foot, well below market rents and leaving plenty of upside APN FIRE PROTECTION Fire Extinguisher potential. NUMBER OF FLOORS 2 Stories HVAC Package 5 Ton Units - TBD Month-to-Month Tenancy RETAIL SF ± 2,075 SF METERS Separately Metered 2 Apts + 2 Retail - Tenant Mix Secure Rear Parking APARTMENT SF ± 1,765 SF CEILING HEIGHT 10 to 12 Feet Live / Work Oppportunity Up to 90% Financing - 51% or More SF FLOOR-TO-AREA RATIO 0.37 ZONING SGC3 LEASE TERM Month to Month LOCATION OVERVIEW PARKING 8 Spaces LANDSCAPING None This building is situated mid-block between Kansas Avenue and Missouri Avenue, on the bustling Long Beach Boulevard. This is nearby access to the 105 and 170 Freeways. PARKING RATIO 2.1 per / 1,000 SF YEAR BUILT 1947 TRAFFIC COUNT ± 25,259 cars per day TENANCY Apartments / Retail HIGHWAY ACCESS 105 and 710 Freeways 6 - HUDSON COMMERCIAL PARTNERS, INC. HUDSON COMMERCIAL PARTNERS, INC. - 7

5 USER OCCUPANCY COSTS RENT ROLL - CURRENT SALES COMPARISON APPROACH SUMMARY TERMS ESTIMATED ANNUALIZED USER OCCUPANCY COSTS DESCRIPTION ESTIMATED PSF RETAIL TENANT SQ. FT. RENT PSF LEASE TYPE NNN NNN PSF LEASE EXPIRING OPTION TO RENEW PRICE $590,000 DOWN PAYMENT (10%) $59,000 OPERATING EXPENSES 9612 Salon ± 1,075 SF $800 $0.74 Modified Gross $0.00 $0.00 MTM None BUILDING SIZE 3,840 SF TAXES $7,375 $ Tenant ± 1,000 SF $900 $0.90 Modified Gross $0.00 $0.00 MTM None PRICE PER FOOT ON BUILDING $ LOT SIZE 5,626 SF PRICE PER FOOT ON LAND $ INSURANCE $1,728 $0.45 UTILITIES $4,608 $1.20 RETAIL TOTAL $1,700 YEAR BUILT 1947 ZONING SGC3 LOAN ASSUMPTIONS SUMMARY TERMS LOAN AMOUNT (90%) $531,000 LOAN TYPE SBA Loan INTEREST RATE 4.5% BLENDED AMORTIZATION 25 Years DUE / TERM 20 Years REPAIRS & MAINTENANCE $4,800 $1.25 CAPITAL RESERVES/MISC $1,340 $0.35 TOTAL OPERATING EXPENSES $19,851 $5.17 DEBT SERVICE $35,439 $9.23 TOTAL OCCUPANCY COSTS $55,290 $14.40 MONTHLY OCCUPANCY COSTS (at 100% Occupancy) $4,608 $1.20 PSF APARTMENT UNIT MIX SQ. FT. RENT PSF WATER/TRASH ELECTRI- CAL GAS PARKING LAUNDRY /2 1 Bedroom + 1 Bath ± 860 SF $800 $0.93 Landlord Tenant Tenant Rear /2 1 Bedroom + 1 Bath ± 905 SF $900 $0.99 Landlord Tenant Tenant Rear Apartment Total $1,700 Montly Total $3,400 / Month Annual Total $40,800 / Annual Note: Square footages are hand measured. Buyer must conduct their own independant investigation regarding square footage of building. 8 - HUDSON COMMERCIAL PARTNERS, INC. HUDSON COMMERCIAL PARTNERS, INC. - 9

6 PROPERTY PHOTO 9616 PROPERTY PHOTOS 10 - HUDSON COMMERCIAL PARTNERS, INC. HUDSON COMMERCIAL PARTNERS, INC. - 11

7 PLAT MAP AERIAL KANSAS AVE MISSOURI AVE LONG BEACH BLVD SUBJECT PROPERTY LONG BEACH BLVD., SOUTH GATE, CA HUDSON COMMERCIAL PARTNERS, INC. HUDSON COMMERCIAL PARTNERS, INC. - 13

8 RETAIL/STREET LEVEL FLOOR PLANS APARTMENT FLOOR PLANS 14 - HUDSON COMMERCIAL PARTNERS, INC. HUDSON COMMERCIAL PARTNERS, INC. - 15

9 JAY MARTINEZ Managing Principal STUDIO CITY OFFICE Ventura Blvd., #140 Studio City, CA Cal BRE: CONTACT CELL PHONE PHONE FAX WEBSITE ELIZABETH CLARK Senior Vice President 9301 Wilshire Blvd., Suite 206 Beverly Hills, CA Cal BRE: CONTACT CELL PHONE PHONE FAX HUDSON COMMERCIAL PARTNERS, INC. WEBSITE