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

$34200

bath

4

Total

3232

$63756

PRICING AND FINANCIAL ANALYSIS

Monthly Income

$2463

Pro Forma Monthly

Rents

income

$52800

$4400

$2850

$42000

$3500

$5313

$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

1980

2 bed + 1 936 bath

1980 1/2 2 bed + 1 936 bath

$12924 $16632

Monthly Income

$1077

Pro Forma Monthly

Rents

income

$26,400 $2200

$1386

$26,400 $2200

1982 1980 3/4 4

1 bed + 1 bath

1 bed + 1 bath

Total

680 680 3232

$19200

$1600

$15000

$1250

$63,756 $5313

$21000

$1750

$21000

$1750

$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 $1,250,000

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 TOTAL EXPENSES

Current $63756 $0 $0 $63756 ($1912) $61,843

$13750 $1700 $1800 $540 $17791

Per Unit $15,939 $0 $0 $15,939 ($478) $15461

$3438 $425 $450 $135 $4448

Pro Forma $94800 $0 $0 $94800 ($2844) $94089

$13750 $1700 $1800 $540 $17791

Per Unit $23700 $0 $0 $23700 ($711) $22989

$3438 $425 $450 $135 $4448

NET OPERATING INCOME

$44052 $11013

$76298

$19075

Notes: Expenses are based on estimates. Property Taxes are estimated at the asking price of $1,250,000. Proforma rents assume Buyer relocate tenants. Actual expenses will be different. Proforma rents will differ. Buyer is to complete their own independent 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

Investment Highlights 4 units allows for leveraged financing Significant Rent Increase Potential High Rental Demand Area On-site Covered Garage Parking 2014 Re Roof (Under Warranty) New Stucco 2009 Walk Score of 76, VERY WALKABLE () Individual Meters for Gas and Electric Dual Paned Windows in the front two units 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 $5313* per month and has very little maintenance with its minimal front yard landscaping. The roof was Redone in 2014 and the exterior stucco was redone in 2009. There is great potential to increase rents, to capitalize on improvements to the units and re-tenant the property. Also Ideal for an owner to occupy one unit while collecting rental income from the other 3 units.

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, the Yosemite Recreation Center and Occidental College of Liberal Arts. Easy Access to Downtown LA, Pasadena, Glendale and Highland Park.

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 $1,000,000 Rate 4.75% Amortization 30 year Annual PI payments $62,598

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

$1,250,000

Down payment

20%/$250,000

Structure Size

3232 SF

Price/SF

$387

Number of Units 4

Price/Unit

$312,500

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

Site Description Number of units Number of Buildings Number of Stories Year Built Rentable SF Lot Size Type OF Ownership Parking Landscaping Laundry Topography

Utilities Water Electric Gas Construction Foundation Framing Exterior Parking Surface Roof

Mechanical HVAC

Fire Protection

PROPERTY DESCRIPTION

4 1 2 1929 3232 6499 Fee Simple 4 covered Minimal Room Generally Level

Paid by Landlord Paid by Tenant Paid by Tenant

Raised Wood Stucco (2009) Concrete Flat and Pitched (2014)

Individual Window Units and Split 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.

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download