Offering Memorandum
[Pages:17]1980 ADDISON WAY
LOS ANGELES, CA 90041
Offering Memorandum
NON-ENDORSEMENT NOTICE
Green World Realty is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporations logo or name is not intended to indicate or imply affiliation with or sponsorship or endorsement by, said corporation of Green World Realty, its affiliates or subsidiaries, or any agent, product, service or commercial listing of Green World Realty and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWING ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR GREEN WORLD REALTY AGENT FOR MORE DETAILS.
Green World Realty 1461 E Chevy Chase Dr Suite 101 Glendale, CA 91206
818-317-8300
THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. The information has
been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied as to the accuracy fo
the information. References to square footage or age are approximate. Buyer must verify the information ad bears all risk for any inaccuracies.
Green World Realty is a dba of Haik Alexanians Inc.
1980 ADDISON WAY
LOS ANGELES, CA 90041
SECTION 1 SECTION 2 SECTION 3 SECTION 4 SECTION 5
1980 Addison way Los Angeles CA 90041
TABLE OF CONTENTS PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION RECENT SALES ON MARKET COMPARABLES DEMOGRAPHIC ANALYSIS
Green World Realty 1461 E Chevy Chase Dr Suite 101 Glendale, CA 91206
818-317-8300
THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. The information has
been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied as to the accuracy fo
the information. References to square footage or age are approximate. Buyer must verify the information ad bears all risk for any inaccuracies.
Green World Realty is a dba of Haik Alexanians Inc.
1980 ADDISON WAY
LOS ANGELES, CA 90041
UNIT MIX No. of units
Unit Type
Approx SF Current Rents
2
2 bed + 1 936
$29556
bath
2
1 bed + 1 680
$33120
bath
4
Total
3232
$62,676
PRICING AND FINANCIAL ANALYSIS
Monthly Income
$2463
Pro Forma Monthly
Rents
income
$52800
$4400
$2760
$42000
$3500
$5223
$94800
$7900
Green World Realty 1461 E Chevy Chase Dr Suite 101 Glendale, CA 91206
818-317-8300
THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. The information has
been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied as to the accuracy fo
the information. References to square footage or age are approximate. Buyer must verify the information ad bears all risk for any inaccuracies.
Green World Realty is a dba of Haik Alexanians Inc.
1980 ADDISON WAY
LOS ANGELES, CA 90041
RENT ROLL
Unit
Unit Type
Approx SF Current Rents
1
2 bed + 1 936
$12924
bath
2
2 bed + 1 936
$16632
bath
Monthly Income
$1077
Pro Forma Monthly
Rents
income
$26,400 $2200
$1386
$26,400 $2200
3
1 bed + 1 680
$18600
$1550
$21000
$1750
bath
4
1 bed + 1 680
$14520
$1210
$21000
$1750
bath
4
Total
3232
$62,676 $5223
$94,800 $7900
Green World Realty 1461 E Chevy Chase Dr Suite 101 Glendale, CA 91206
818-317-8300
THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. The information has
been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied as to the accuracy fo
the information. References to square footage or age are approximate. Buyer must verify the information ad bears all risk for any inaccuracies.
Green World Realty is a dba of Haik Alexanians Inc.
1980 ADDISON WAY
LOS ANGELES, CA 90041
OFFERED AT $1,349,000
INCOME GROSS POTENTIAL RENT Other Income (Laundry) TOTAL OTHER Gross Potential Income Vacancy/Collection Allowance (GPR) Effective Gross Income EXPENSES Real Estate Taxes (1.1% of Price) Insurance Utilities Landscaping Pest Control Repairs and Maintenance Management Fee (5%) General and Admin Reserves and Replacements TOTAL EXPENSES
Current $62676 $0 $0 $62676 ($1880) $60796
$14839 $1700 $1800 $540 $0 $0 $0 $0 $0 $18880
Per Unit $15,669 $0 $0 $15,669 ($470) $15199
$3710 $425 $450 $135 $0 $0 $0 $0 $0 $4720
Pro Forma $94800 $0 $0 $94800 ($2844) $94089
$14839 $1700 $1800 $1200 $480 $4000 $4260 $800 $1600 $30680
Per Unit $23700 $0 $0 $23700 ($711) $22989
$3710 $425 $450 $300 $120 $1000 $1065 $200 $400 $7670
NET OPERATING INCOME
$41916 $10479
$63409
$15319
Eagle Rock market cap rate 3.7%. Average Gross Rent Multiplier of 18.
1980 Addison Way has a current market cap rate of 3.10% with a Gross Rent Multiplier of 22.
Valuation of $1,349,000 with great financing option (10% down payment for FHA conforming), Investor Goal of Proforma GRM of 16 and Proforma Cap Rate of 4.35%. Price per Unit of $337,250. Capital Expenditures Total of $110,000. Total Unit remodel and Laundry Addition estimated at $65,000. Tenant relocation fee of $45,000 to accomplish the Proforma Rents. Sales Range would be $1,350,000 due to the deferred maintenance/capital expenditures (Copper Repipe, EQ Retrofitting, Relocation fee for 3 units, General condition of interior/Kitchen/Bath/Flooring upgrades), limited 4 parking spaces and with large UPSIDE of the potential pro forma rents that could be immediately absorbed in the neighborhood in Q2 2018.
Green World Realty 1461 E Chevy Chase Dr Suite 101 Glendale, CA 91206
818-317-8300
THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. The information has
been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied as to the accuracy fo
the information. References to square footage or age are approximate. Buyer must verify the information ad bears all risk for any inaccuracies.
Green World Realty is a dba of Haik Alexanians Inc.
1980 ADDISON WAY
LOS ANGELES, CA 90041 Any investor purchasing would make the improvements and then re-tenant the building at proforma market rents.
Notes: Expenses are based on estimates. Property Taxes are estimated at the asking price of $1,349,000. Proforma rents assume Buyer upgrades the unit interiors. Actual expenses will be different. Proforma rents may differ. Buyer is to complete their own independent analysis.
Investment Highlights 4 units allows for leveraged financing Significant Rent Increase Potential High Rental Demand Area On-site Covered Garage Parking 2014 Re Roof New Stucco 2009 Walk Score of 76, VERY WALKABLE () Individual Meters for Gas and Electric Dual Paned Windows Close Proximity to Eagle Rock's flourishing Culinary scene
Green World Realty is proud to present this lovely 4 unit complex in the highly sought after area of NELA known as Eagle Rock located within a short distance from the best Eagle Rock has to offer. Built in 1929 the property boasts 2 one (1) bedroom and one (1) bathroom units and 2 two (2) bedroom and one (1) bathroom units and is delivered fully occupied. Property has a 4 car carport with storage located at the Northern end of the property. The Gross Income provided by the property is $5223* per month and has very little maintenance with its minimal front yard landscaping. The roof and the exterior stucco were redone in 2009. The rents are way below market which provides a new investor the potential to capitalize on improvements to the units and re-tenant the property.
Centrally located in the area known as (NELA) NORTH EAST LOS ANGELES, this property is well positioned in a high density residential area with a high demand for rental properties. The property is conveniently located near trendy restaurants, taverns, shops, Trader Joes, Swork Coffee, Max City BBQ and the Yosemite Recreation Center. Easy Access to Downtown LA, Pasadena, Glendale.
Green World Realty 1461 E Chevy Chase Dr Suite 101 Glendale, CA 91206
818-317-8300
THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. The information has
been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied as to the accuracy fo
the information. References to square footage or age are approximate. Buyer must verify the information ad bears all risk for any inaccuracies.
Green World Realty is a dba of Haik Alexanians Inc.
1980 ADDISON WAY
LOS ANGELES, CA 90041
Owner Occupant Financing Loan Amount $1,079,000 Rate 4.5% Amortization 30 year Annual payments $65616 Pro Forma GRM after 2 years: *GRM 15.5 Includes EST capital expenditures $110,000 & Increased Rents
FINANCIAL OVERVIEW
Summary Property 1980 Addison Way
Eagle Rock, CA 90041
Site Description
APN
5685-008-027
Price
$1,349,000
Down payment
20%/$270,000
Structure Size
3232 SF
Price/SF
$417
Number of Units 4
Price/Unit
$337,250
Number of Buildings 1
Year Built
1929
Lot Size
6499 SF
Green World Realty 1461 E Chevy Chase Dr Suite 101 Glendale, CA 91206
818-317-8300
THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. The information has
been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied as to the accuracy fo
the information. References to square footage or age are approximate. Buyer must verify the information ad bears all risk for any inaccuracies.
Green World Realty is a dba of Haik Alexanians Inc.
1980 ADDISON WAY
LOS ANGELES, CA 90041
Property Summary 1980 Addison Way Los Angeles CA 90041
PROPERTY DESCRIPTION
Site Description Number of units Number of Buildings Number of Stories Year Built Rentable SF Lot Size Type OF Ownership Parking Landscaping Laundry Topography
4 1 2 1929 3232 6499 Fee Simple 4 covered Minimal Room Generally Level
Utilities Water Electric Gas Construction Foundation Framing Exterior Parking Surface Roof
Mechanical HVAC
Fire Protection
Paid by Landlord Paid by Tenant Paid by Tenant
Raised Wood Stucco (2009) Concrete and Asphalt Flat and Pitched (2014)
Individual Wall Units
Smoke Detectors only
Green World Realty 1461 E Chevy Chase Dr Suite 101 Glendale, CA 91206
818-317-8300
THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. The information has
been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied as to the accuracy fo
the information. References to square footage or age are approximate. Buyer must verify the information ad bears all risk for any inaccuracies.
Green World Realty is a dba of Haik Alexanians Inc.
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