Brett Lyon (310) 780-1899 Brett@LyonStahl.com 1506 PHELAN LN, REDONDO BEACH, CA
, Redondo Beach, CA EXCLUSIVELY MARKETED BY : Lyon Stahl Investment Real Estate INVESTMENT SUMMARY Investment Overview Regional Map Brett Lyon 310.780.1899 Brett@LyonStahl.com Lic. 01717818 Woody Stahl 310.710.389 Woody@LyonStahl.com Lic. 0139961 AREA OVERVIEW Local Map City Overview County Overview Aerial Map PROPERTY DESCRIPTION Property Details 3D Map FINANCIALS Offering Summary Net Income Statment Rent Roll Unit Mix COMPARABLES Sales Comparable Map Sales Comparables Rental Comparable Map Rental Comparables On Market Comparable Map On Market Comparables
, Investment Summary Price $95,000 Cap Rate.38% NOI $,018.00 GRM 3.7 Units Occupancy 100.00% Building Size 1,560 SF Price per Square Foot $59.95 Land Area,700 Sq. Feet Ownership Fee Simple Investment Description Lyon Stahl is excited to present 1506 Phelan Lane, a duplex located in Redondo Beach. Built in 1955, this property has been well maintained and features () -bed/1-bath units with 1,560 SF of total living area. This property is perfect for an owner-user, or, with its huge upside in market rent potential, an ideal investment opportunity for somebody looking to expand their portfolio and acquire prime real estate in Redondo Beach. Investment Highlights Duplex consisting of () -bed/1-bath units Market CAP of 4.1% and GRM of 16.06 1,560 SF building situated on,700 SF lot Well-maintained property Conveniently located near the South Bay Galleria, beach, and 405 FWY Perfect for an owner-user or as an investment property Major upside in market rent potential Investment Summary
, Regional Map Investment Summary
, Local Map Area Overview
, Area Overview surrounding neighboring counties places it in the top 10. California is generally considered to be in the top five. If Los Angeles County were its own nation, its economy would be the 18th largest in the world. It is home to more than 44,000 businesses, with more minority and women owned businesses than any other in the nation and is the nation s top international trade center and manufacturing center. Los Angeles is recognized worldwide as a leader in entertainment, health sciences, business services, aerospace and international trade. Because the Los Angeles area is so large and diverse, it has something to offer to everyone. While Hollywood and the Los Angeles beach culture are part of our collective image of Los Angeles, the city also has more museums than any other city and some of the best hotels in the world are located in Los Angeles. County Overview The most heavily populated county in the country is Los Angeles County with approximately 9.9 million people, including about 1 million that live in unincorporated areas of the county. The metropolis - formed by the six neighboring counties of Los Angeles, Ventura, Kern, San Bernardino, Riverside, and Orange - is home to approximately 19 million residents. Los Angeles County is home to one of the most educated labor pools in the country and offers a labor force of more than 4.7 million, of which more than 1.5 million are college graduates. Los Angeles County has the largest population of any county in the nation, exceeded only by eight states. According to the United States Conference of Mayors, Los Angeles County boasts a GDP among the twenty largest in the world. Los Angeles County s continued economic growth, in contrast to other areas of the state and nation, is due to its diversified economy and abundant, well-trained workforce. Los Angeles County is well located on the Southern Coast of the California, and covers 4,061 square miles, including the San Clemente and Santa Catalina islands. The County is comprised of approximately 88 vibrant and diverse cities hosting more than 44,000 business establishments the greatest concentration in the state. Los Angeles County has a Gross Domestic Product (GDP) of approximately $446 billion - placing it among the top 0 economies in the world. The combined GDP of Los Angeles and its five Over the years, Los Angeles County has developed a diverse economic base, supported by a number of Fortune 500 companies with headquarters in the area, including Hilton Hotels, Walt Disney, Occidental Petroleum, DirecTV Group, Northrop Grumman, Computer Sciences, KB Home, Health Net, Mattel, and Avery Dennison. Key factors positively impacting the region s economic position include increased local media production by the entertainment industry and a continuing expansion of import flows. Moreover, growth in aerospace, homeland security and in the private business sector have contributed positively to the County's economy. Los Angeles' well educated labor pool, many universities, wonderful climate, and world class infrastructure will enable Greater Los Angeles to continue to be a world leader in economic and cultural significance. County Highlights Los Angeles County is the world s 18th largest economy. Los Angeles part of the "Tech Coast" and is regarded as the of the main entrepreneurial regions of the world. It has approximately 00,000 small businesses, which is twice as many small businesses as can be found in any other region of the United States. If Los Angeles' five county area were a state, it would be the fourth largest in the United States. Los Angeles has more than 80 stage theaters and 300 museums, more than any other U.S city. Area Overview
, Aerial Map Area Overview
, Property Details Address Square Footage 1,560 SF Land Area,700 Sq. Feet Year Built 1955 Assessors Parcel Number 4157-017-031 Site Zoning RBR-3 Number of Buildings 1 Number of Stories 1 Property Description
, Financial Offering Summary Price $95,000 Building Size 1,560 SF Ownership Fee Simple Land Area,700 Sq. Feet Number of Units Number of Stories 1 Year Built 1955 Occupancy 100.00% Price per Unit $46,500.00 Price per Square Foot $59.95 Current CAP Rate.16% Pro Forma Cap Rate 4.1% Current GRM 5.07 Pro Forma GRM 16.06 NOI $19,981 Pro Forma NOI $38,908 Financing Loan Type New/Proposed Loan Amount $693,750 Down Payment $31,50 Interest Rate 4.63% Amortization Period 30 Years Annual Payment $4,80 Financials
, Net Income Statement Current Annual Income REVENUES Gross Potential Rent $39,000 $57,600 Less: Vacancy Rate Reserve 1,170,880 Effective Gross Income $37,830 $54,70 Proforma Annual Income OPERATING EXPENSES Real Estate Taxes 11,359 11,359 Insurance 546 546 Utilities 1,600 1,600 Maintenance 1,170 1,170 Landscaping 1,00 1,00 TOTAL EXPENSES $15,81 $15,81 NET OPERATING INCOME $,018 $38,908 Debt Service $4,80 $4,80 NET CASH FLOW AFTER DEBT SERVICE $-0,784 $-3,894 Principal Reduction $10,946 $10,946 TOTAL RETURN -4.5% 3.05% Expenses Per SF $10.14 $10.14 % of EGR 41.80% 8.90% Financials
, Rent Roll Unit Information Lease Rental Rates Unit No Unit Type App. Square Footage Status Move In Date Current Monthly Rent PSF Pro Forma Monthly Rent PSF Loss to Lease 1 BR 1 BTH - Occupied -- -- ---- $ 1,65.00 - $,400.00 - $ 775.00 BR 1 BTH - Occupied -- -- ---- $ 1,65.00 - $,400.00 - $ 775.00 Units TOTALS 0 Occ: Vac:0 $3,50.00 $4,800.00 $1,550.00 Financials
, Unit Mix Unit Info Occupancy Square Footage Current Monthly Rent Pro Forma Monthly Rent Number of Units Unit Type Occ Vac % Occ Average Unit SF Total Unit SF AVG Low High Total AVG PSF AVG Total AVG PSF Vacancy Loss BR 1 BTH 0 100% - - $ 1,65 $ 1,65 $ 1,65 $3,50 - $,400 $4,800 - $0 TOTALS 0 100.00% 0 SF $3,50 $4,800 $0 Financials
, Sales Comparable Map Comparables
, Sales Comparables Photos Address Sale Price Sale Date Total Units Price Per Unit Total SF $/SF CAP GRM Unit Mix Year Built Land Area Days on Market $95,000 N/A 46,500 1,560 SF $593.38 % 3.7 () BR + 1BTH 1955,700 SF N/A - 1906 Voorhees Ave $833,000 01/0/017 $416,500 1,7 SF $655 5.07 % 18.03 (1) + 1 (1) 1 + 1 1955 5,410 SF 706 Gates Ave $890,000 11/16/017 $445,000 1,850 SF $481 - - () + 1 1963 5,07 SF 8 707 Rockefeller Ln $975,000 09/13/017 $487,500 1,664 SF $586.79 % 33.85 (1) + 1 (1) + 1 195 7,496 SF 156 Comparables
, Photos Address Sale Price Sale Date Total Units Price Per Unit Total SF $/SF CAP GRM Unit Mix Year Built Land Area Days on Market 1909 Huntington Ln $1,153,916 05/7/017 $576,958 1,837 SF $68 3.33 % 1.37 (1) 1 + 1 (1) + 1 1948 7,503 SF 171 Harriman Ln $1,155,000 08/09/017 $577,500,000 SF $578-17.50 (1) 3 + 1 (1) + 1 1953 7,485 SF 15 Averages $1,001,383 - $500,69 1,75 SF $586 3.73 %.69 Comparables
, Rental Comparable Map Comparables
, Rental Comparables Photos Address Date Surveyed Total Units Year Built Bldg SF Occupancy Units Types Avg Unit SF Avg Unit Rent Avg Rent Per SF 1955 1,560 SF 100.00% BR / 1 BTH - $1,65-511 1/ 09/15/017 1953 BR /1BTH 800 SF $,795 $3.49 1913 Marshallfield Ln #B 11/14/017 1953 BR /1BTH 800 SF $,400 $3.00 317 Marshallfield Ln #B 10/31/017 1969 BR /BTH 1,000 SF $,600 $.60 Comparables
, Photos Address Date Surveyed Total Units Year Built Bldg SF Occupancy Units Types Avg Unit SF Avg Unit Rent Avg Rent Per SF 01 Speyer Ln lifornia 11/1/017 1978 BR /BTH 1,000 SF $,500 $.50 1 Huntington Ln 1/11/017 1973 BR /BTH 1,00 SF $,400 $.00 Averages 960 SF - 960 SF $,539 $.7 Comparables
, On Market Comparable Map Comparables
, On Market Comparables Photos Address Sale Price Total Units Price Per Unit Total SF $/SF CAP GRM Unit Mix Year Built Land Area $95,000 $ 46,500 1,560 SF $593.38 % 3.7 () BR + 1BTH 1955,700 SF - 106 Avenue D 9077 $1,795,000 $897,500,100 SF $855 3.53 % 0.49 (1) 1 + 1 (1) 3 + 1954 6,390 SF 103 Durfour Ave #A $1,75,000 $86,500 4,310 SF $400 4.06 % 19.17 () 3 + 3 1981 7,50 SF Notes (1) Unit is Vacant Averages $1,760,000 $880,000 3,05 SF $67 3.80 % 19.83 Comparables
CONFIDENTIALITY AND DISCLAIMER The information contained in this Offering Memorandum ( Memorandum ) is proprietary and strictly confidential; it is intended to be reviewed only by the party receiving it from Broker and should not be made available to anyone else without the written consent of Broker. By retention or use of this Memorandum, you agree that its contents are confidential, that you will hold it in the strictest confidence, and that you will not disclose any of its contents contrary to these terms. This Memorandum has been prepared to provide summary, unverified information to establish a preliminary level of interest in the subject property ( Property ). The information in this Memorandum has been obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever including but not limited to the accuracy or completeness of the information, veracity or accuracy of the information, condition of the Property or its compliance or lack of compliance with applicable governmental requirements, developability, suitability or financial performance of the Property, income or expenses for the Property, the size and square footage of the Property and improvements, the presence or absence of contaminating substances, PCB s or asbestos, the compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant or any tenant s plans or intentions to continue occupancy of the Property. The Memorandum has selected information relating to the Property and does not purport to be an all - inclusive representation regarding the Property or to contain all or part of the information which prospective investors may require to evaluate the purchase of the Property. Additional information and an opportunity to investigate the Property will be made available to interested and qualified prospective purchasers. All information is based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of Broker, therefore, all information is subject to material variation. The information contained herein is not a substitute for a thorough due diligence investigation. Interested parties are expected to review all information of whatever nature independently and not rely on the contents of this Memorandum in any manner. The Property owner ( Owner ) expressly reserves the right, at its sole discretion, to reject any or all offers to purchase the Property, and/or to terminate discussions at any time with or without notice. The Owner shall have no legal commitment or obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any conditions to the Owner s obligations therein have been satisfied or waived. Exclusively Marketed By: Lyon Stahl Investment Real Estate Brett Lyon Woody Stahl (310) 780-1899 (310) 710-389 Brett@LyonStahl.com Woody@LyonStahl.com