EMERALD GARDENS APARTMENTS EXCLUSIVE INVESTMENT OPPORTUNITY 40 Unit Apartment Building in the Heart of the South Bay! 4857 W. 147th Street, Suite A Hawthorne, CA 90250 tel 310.644.6404 fax 310.644.6414 www.triwellproperties.com
OFFERING Triwell Properties, Inc. is proud to present the exclusive sale offering Emerald Gardens Apartments, a 40-unit multi-family apartment building located in the heart of the South Bay. The surrounding neighborhood includes a mix of both single-family residences and multi-family apartment buildings. The relatively young population average age in the mid 30ʼs includes a large population of singles and young families creating a high demand rental market. Emerald Gardens Apartments boasts a long history of high occupancy. Tenants benefit from secured garage parking, spacious floor plans, on site laundry facilities and the quiet interior courtyards. The unbeatable location includes the nearby beaches, access to 405 and 110 freeways and LAX as well as Torrance Promenade, the recently renovated Del Amo Fashion Center and El Camino College in close proximity. PROPERTY SUMMARY PROPERTY ADDRESS 20308 Madison Street Torrance, CA 90503 PHYSICAL DESCRIPTION Assessorʼs Parcel Number 7524-028-025 Zoning / Use R-3: Apartment Parcel Size (approximate) 28,557 sq. ft. (.66 acres) Building Size (approximate) 29,212 sq. ft. Year Built 1969 On Site Parking 57 Reserved Spaces DEMOGRAPHICS 1 MILE 3 MILES (source: CoStar) TOTAL POPULATION: 22,942 248,494 AVERAGE AGE: 39.6 39.8 TOTAL HOUSEHOLDS: 8,930 95,399 MEDIAN HH INCOME: $72,455 $88,063 The pride of the long term ownership is evident in its extremely well maintained condition, allowing Emerald Gardens Apartments to truly stand out among its peers in the neighborhood. Offers receiving consideration will need to be above $11,000,000 change of price, rental or other condition, prior sale, lease, or financing or withdrawl without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
RENT ROLL INCOME & EXPENSE STATEMENT ANNUAL INCOME Apartment Rental Income $767,100 Laundry $6,600 GROSS INCOME $773,700 Less Vacancy (5%) $(38,685) EXPENSES Property Taxes (Based on $11 Million Sale Price) $130,592 Property Insurance $15,000 Electricity $12,000 Business License $1,300 Trash $13,800 Water/Sewer $13,500 Pest Control $924 Telephone/Data $3,500 Fire Extinguishers $250 Landscape Maintenance $6,780 General Repair/Maintenance $12,000 Resident Mgr. Apt. & Pay (1) $30,000 Plumbing Repair/Maintenance $5,400 Supplies/Materials $5,000 TOTAL OPERATING EXPENSES $(261,755) NET OPERATING INCOME $484,470 VACANCY TURNOVER Since early 2012 the Seller has completed significant renovations to 29 units that became vacant. The above listed expenses do not include renovation costs which have been between $5,000 - $10,000 per unit depending on the size and condition of each unit. change of price, rental or other condition, prior sale, lease, or financing or withdrawl without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
change of price, rental or other condition, prior sale, lease, or financing or withdrawl without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
TRIWELL PROPERTIES, INC. 4857 W. 147TH STREET, SUITE A HAWTHORNE, CA 90250 TELEPHONE: (310) 644-6404 FACSIMILE: (310) 644-6414 www.triwellproperties.com CA BRE Lic. #01109616 For additional information, please contact: TREVOR HARRIS (310) 644-6404 x 102 Trevor@triwellproperties.com CA BRE Lic. #01722291 MATT CRAWFORD (310) 644-6404 x 114 Matt@triwellproperties.com CA BRE Lic. #01226999 change of price, rental or other condition, prior sale, lease, or financing or withdrawl without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.