Offering Memorandum Eugene Korsunsky 1 9 0 0 T h e A l a m e d a S t e. 6 3 0 S a n J o s e, C A 9 5 1 2 6 ( 4 0 8 ) 3 2 0-5 5 0 9 : O f f i c e ( 4 0 8 ) 3 9 1-1 6 0 6 : C e l l 8 / 2 9 / 2 0 1 5
Intempus Realty is proud to present the enclosed marketing material which should be confirmed by the acquiring party prior to signing any legal documents. All the information within is believed to be accurate but acquired through third parties and subject to change. Due diligence and thorough research is suggested to all inquiring parties. Contents AREA DESCRIPTION... 2 EXISTING PROPERTY DETAILS... 3 FINANCIAL ANALYSIS... 4 Property Photos... 5 ASSESSOR S PARCEL MAP... 6 Aerial Street View... 6 RESUME... 7 1
AREA DESCRIPTION Property located in Downtown San Jose s historic Rose Garden Area Good Traffic Count Corner Lot with Ample Parking Located on a busy street with street frontage, across from other retail Zoning is CP or Commercial Pedestrian Great for Retail, Restaurant or Residential/Commercial Development Intempus Realty is pleased to offer this property which contains an existing free-standing retail/restaurant property currently vacant but previously operated as Carlito s Chicken. The property is conveniently located in a historic and predominantly residential part of Downtown San Jose known as the Rose Garden. This property is located across the street from multiple commercial office businesses and near San Jose s Rosicrucian Egyptian Museum. The City of San Jose has included this area as part of their Envision San Jose 2040 general plan. As their interest in developing properties which encourage pedestrian traffic and neighborhood enhancement increases, to the right buyer this is a perfect opportunity to add some creative design and help boost the community culture. About the area: Hanchett Park, originally part of the fairgrounds, was surveyed in 1906 and opened in 1907. The Hester District dates to 1893 and included the former Gardner District (annexed 1911). The Hester-Hanchett-College Park district was annexed to the City of San José in 1925. These mostly single family residences date from ca. 1906 to 1935 and include Queen Anne, Craftsman Bungalow, and Spanish Mission Colonial Revival styles as well as several Prairie style in Hanchett Park. The Hanchett Park neighborhood retains some of the best mix of Prairie, Spanish Revival and, Craftsman residences in San José. In addition, Martin Avenue between Park Avenue and The Alameda includes City of San José Heritage Trees - 80 Mexican Fan Palms (Washingtonia robusta; (HG-06-007). 2
EXISTING PROPERTY DETAILS Property Address 1460 Park Ave San Jose, CA 95126 Assessor's Parcel Number 261-21-074 DESCRIPTION Number of Stories/Buildings 1/1 Year Built/Renovated 1956 Gross Leaseable Area (GLA) 990 Type of Ownership Fee Simple PROPERTY CONSTRUCTION Foundation Framing Exterior Parking Surface Roof Concrete Wood Construction Metal Asphalt Composition Roll Material 3
FINANCIAL ANALYSIS Price $1,200,000 Price per Square Foot $1,212 Gross Leasable Area 990 Year Built/Renovated 1956 Lot Size 7,252 Investment Data CAP Rate - Current 2.6 NOI - Current $31,257 Gross Income $38,327 Pro Forma Gross $43,200 CAP Rate - Forma 2.8 Demographic Data Population 1,000,536 Age Groups % of Total 25-44 45-64 31% 25% HH Income Family Income Median Average Median Average $80,090 $101,390 $88,110 $108,090 4
Property Photos 5
ASSESSOR S PARCEL MAP Aerial Street View 6
RESUME Eugene Korsunsky Real Estate Experience: Approximately $20M in sales in 2014 Approximately $35M In Sales in 2015 Over 200 assets managed Education: Masters of Business (MBA) Keller Graduate School EXPERIENCE - Sales professional with extensive knowledge in negotiation and acquisition of investment properties. Property Manager with a strong competitive position in the market, a proven track record for making both owners and tenants happy. Understanding and executing the infinite details involved in successful Property Management: screening tenants, rent collection, maintenance, record-keeping and reporting above all, maximizing your income. Managed a wide mix of Residential Properties and Commercial properties. Successfully maintained 0% Vacancy Rate, by ensuring high tenant satisfaction while still optimizing the Owners Return on Investment. 7