For SALE
SUMMARY Very well located triplex in Echo Park. Has large parking lot off Echo Park Blvd with extra parking income; Tuck Under Seismic Retrofit work has all been completed ANNUALIZED OPERATING DATA Scheduled Gross Income: Less Vacancy Rate Reserve: Gross Operating Income: Less Expenses: Net Operating Income: Less Loan Payments: Pre-Tax Cash Flow: Plus Principal Reduction: Total Return Before Taxes: SCHEDULED INCOME No. of Units Bdrms/ Baths Approx. SF Monthly Rent/ Unit Multi-Family Operating Information, CURRENT RENTS Monthly Income Price: Down Payment: Number of Units: Cost per Legal Unit: Current GRM: Market GRM: Current CAP: Market CAP: Year Built Approx. Gross (SF): Approx. Lot Size (SF): Cost per Net GSF: CURRENT RENTS 72,925 1,600,000 1,600,000 David B. Kaufman C: (310) 877-8600 E: david@tamarackres.com DRE Lic #01217537 0 3.50% (3,646) 5.0% (5,548) 5.0% 69,279 (37,071) 50.8% 105,417 (37,071) 33.4% 32,208-32,208 2.0% * 68,346-68,346 4.3% * - 32,208 2.0% * - 68,346 4.3% * * As a percent of the down payment MARKET RENTS Montly Rent/Unit Monthly Income 100% Maintenance 3 2+1 816.26-2,575 5,030 2,700 8,100 Contract Services Management fee Admin 533,333 3 21.94 14.42 2.01% 4.27% 1962 2,320 5,787 689.66 PROPOSED FINANCING New First Loan: Interest Rate: Amortization Monthly Payment: DCR MARKET RENTS 110,965 ESTIMATED ANNUALIZED EXPENSES Taxes: Insurance Utilities Reserves Rate 1.25% 6% 4% 1% 30 0 N/A 20,000 2,756 2,315 4,375 1,459 3,150 729 2,286 Total Scheduled Rent: Parking: *Includes Unit Turnover and Leasing expenses Misc: SCEP & Laundry 47 47 Total Expenses: 37,071 Monthly Scheduled Gross Income: 6,077 9,247 Per Net Sq. Ft.: 15.98 Annual Scheduled Rent: 60,360 97,200 Per Unit: 12,357 Annual Scheduled Gross Income: 5,030 1,000 72,925 110,965 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 8,100 1,100
Financial Summary RENT ROLL Multifamily UNIT NUMBER UNIT TYPE CURRENT RENT MARKET RENT NOTES 3324 2+1 1,687.89 2,700.00 3326 2+1 2,578.61 2,700.00 3322 2+1 816.26 2,700.00 TOTAL 5,082.76 8,100.00 UNIT MIX APT. AVG RENT/SF CURRENT 2+1 3 Parking 12 Monthly 2.19 Annual 41.90 * Square footage is approximate. 2
Financial Summary RENT ROLL - Parking UNIT NUMBER UNIT TYPE CURRENT RENT MARKET RENT NOTES PK1 Parking 100 100 PK3 Parking 100 100 PK4 Parking 100 100 PK5 Parking 100 100 PK6 Parking 100 100 PK8 Parking 100 100 PK9 Parking 50 100 KG11 Parking 100 100 KG12 Parking 100 100 KG13 Parking 100 100 KG14 Parking 50 100 KG15 Parking - 100 TOTAL 1,000 1,200 * Square footage is approximate. 3
Property Description SUMMARY Number of Units 3 Year Built 1962 This triplex is located in the prime Echo Park neighborhood of Los Angeles, within walking distance to trendy neighborhood boutique shops, a variety of entertainment venues and many options for casual and Approximate Gross SF Approximate Lot Size Zoning Parking 2,320 SF 5,787 SF LARD1.5 12 open single spaces upscale dining. Built in 1962, this two-story building measures 2,320 square feet on 5,787 square feet of land. The unit mix of 100% two bedroom one bathroom units is desirable and a large parking lot on Echo Park Avenue brings in extra parking income. The building also recently completed a tuck under seismic retrofit. INVESTMENT HIGHLIGHTS Utilities Separately metered for electric, gas Great Echo Park Location Recently Completed Tuck Under Seismic Retrofit Construction Electrical / Plumbing & Roof 2 story wood frame / stucco Systems are functioning Work Trendy Neighborhood Retail and Cute Shops within Walking Distance Clean Units Lot Runs Block to Block from Echo Park to Lucretia Avenue Large Parking Lot on Echo Park Boulevard Brings in Extra Parking Income 4
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Maps SUBJECT MAP Source: www.google.com/maps 7 7
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