1631-1633 1/2 W 12th St · 1631-1633 1/2 W 12th St OFFERING MEMORANDUM PRESENTED BY: LOS ANGELES,...
Transcript of 1631-1633 1/2 W 12th St · 1631-1633 1/2 W 12th St OFFERING MEMORANDUM PRESENTED BY: LOS ANGELES,...
KW COMMERCIAL439 N. Canon Drive,3rd FloorBeverly Hills, CA 90210 KEVIN DANIALI
Director0: 310.432.6400C: [email protected] DRE #01904911
1631-1633 1/2 W 12th St
OFFERING MEMORANDUM
PRESENTED BY:
LOS ANGELES, CA
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com 2
KW COMMERCIAL439 N. Canon Drive,3rd FloorBeverly Hills, CA 90210
Confidentiality & Disclaimer
KEVIN DANIALIDirector0: 310.432.6400C: [email protected] DRE# #01904911
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sourcesare provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliancewith applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of theproperty for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, thatmay be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed inwriting.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by theparty including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercialmakes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercialdoes not serve as a financial advisor to any party regarding any proposed transaction.
All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party withan attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by theparty with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. Allproperties and services are marketed by Beverly Hills in compliance with all applicable fair housing and equal opportunity laws.
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. Itis submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, 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 advisorsshould conduct your own investigation of the property and transaction.
OFFERING MEMORANDUM
PRESENTED BY:
LOS ANGELES, CA
PROPERTY INFORMATION
1 | PROPERTY INFORMATION
EXECUTIVE SUMMARY
PROPERTY DESCRIPTION
PROPERTY DETAILS
FINANCIAL SUMMARY
INCOME & EXPENSES
RENT ROLL
SALE COMPS
REGIONAL MAP
LOCATION MAPS
RETAILER MAP
DEMOGRAPHICS MAP & REPORT
1PROPERTY INFORMATION1631-1633 1/2 W 12TH ST
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com 4
OFFERING SUMMARY
SALE PRICE: $698,000
NUMBER OF UNITS: 4
CAP RATE: 4.96%
NOI: $34,640
LOT SIZE: 0 Acres
YEAR BUILT: 1922
BUILDING SIZE: 1,936 SF
ZONING: LARD1.5
PRICE / SF: $360.54
PROPERTY OVERVIEWValue add / Fixer!!! Quadruplex property located in one of most desired rentalareas of Downtown Los Angeles. The subject property is centrally located frommajor public transportation and walking distance to Staples Center, LA LIVE,Microsoft Theater, LA Convention Center, Downtown Los Angeles, Major shoppingcenters and incredible dining establishments of Korea Town. Front building is aDuplex each with 1 Bedr + 1 Bath. Rear unit is a Duplex containing 2 studios.HPOZ zoned.
PROPERTY HIGHLIGHTS• Very high demand rental market
• Walking distance to Staples center and L.A Live
• Value Add - Huge rental upside
• Development opportunity
Executive Summary
1631-1633 1/2 W 12TH ST 1 | PROPERTY INFORMATION
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PROPERTY OVERVIEW
Value add / Fixer!!! Quadruplex property located in one of mostdesired rental areas of Downtown Los Angeles. The subjectproperty is centrally located from major public transportation andwalking distance to Staples Center, LA LIVE, Microsoft Theater, LAConvention Center, Downtown Los Angeles, Major shoppingcenters and incredible dining establishments of Korea Town. Frontbuilding is a Duplex each with 1 Bedr + 1 Bath. Rear unit is aDuplex containing 2 studios. HPOZ zoned.
LOCATION OVERVIEW
Walking distance to Staples Center
Property Description
1631-1633 1/2 W 12TH ST 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com 6
SALE PRICE $698,000
LOCATION INFORMATION
Street Address 1631-1633 1/2 W 12th St
City, State, Zip Los Angeles, CA 90015
County/Township Los Angeles
BUILDING INFORMATION
Building Size 1,936 SF
NOI $34,640
Cap Rate 4.96%
Price / SF $360.54
Year Built 1922
Occupancy % 100%
Tenancy Multiple
Load Factor Yes
PROPERTY DETAILS
Property Type Multifamily
Property Subtype Low-Rise/Garden
Zoning LARD1.5
Lot Size 0 Acres
Property Details
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INVESTMENT OVERVIEW
Price $698,000
Price per Unit $174,500
GRM 13.2
CAP Rate 5.0%
Cash-on-Cash Return (yr 1) 4.96 %
Total Return (yr 1) $34,640
Debt Coverage Ratio -
OPERATING DATA
Gross Scheduled Income $53,040
Other Income -
Total Scheduled Income $53,040
Vacancy Cost $0
Gross Income $53,040
Operating Expenses $18,400
Net Operating Income $34,640
Pre-Tax Cash Flow $34,640
FINANCING DATA
Down Payment $698,000
Loan Amount -
Debt Service -
Debt Service Monthly -
Principal Reduction (yr 1) -
Financial Summary
1631-1633 1/2 W 12TH ST 1 | PROPERTY INFORMATION
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UNIT
NUMBER
UNIT
BED
UNIT
BATH
LEASE
START
LEASE
END
CURRENT
RENT
CURRENT
RENT (PER SF)
MARKET
RENT
MARKET
RENT/SF
1631 1 1 MM $995 $1,800
1631 1/2 1 1 MM $1,325 $1,800
1633 0 1 MM $850 $1,250
1633 1/2 0 1 7/01/2020 $1,250 $1,250
Totals/Averages $4,420 $6,100
INCOME SUMMARY
Gross Income $53,040
EXPENSE SUMMARY
Property Tax $9,000Insurance $1,400Utility $6,000Maintenance $2,000
Gross Expenses $18,400
Net Operating Income $34,640
Income & Expenses
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UNIT
NUMBER
UNIT
BED
UNIT
BATH
LEASE
START
LEASE
END
CURRENT
RENT
CURRENT
RENT (PER SF)
MARKET
RENT
MARKET
RENT/SF
1631 1 1 MM $995 $1,800
1631 1/2 1 1 MM $1,325 $1,800
1633 0 1 MM $850 $1,250
1633 1/2 0 1 7/01/2020 $1,250 $1,250
Totals/Averages $4,420 $6,100
Rent Roll
1631-1633 1/2 W 12TH ST 1 | PROPERTY INFORMATION
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Subject Property
1631-1633 1/2 W 12th St | Los Angeles, CA 90015
$698,000Sale Price: 1922Year Built:
1,936 SFBuilding SF: $360.54Price PSF:
4No. Units: $174,500Price / Unit:
4.96%CAP: $34,640NOI:
13.16GRM:
Value add / Fixer!!! Quadruplex property located in one of most desired rental areas of Downtown Los Angeles. The subject property is centrally located from major public transportation and walking distance toStaples Center, LA LIVE, Microsoft Theater, LA Convention Center, Downtown Los Angeles, Major shopping centers and incredible dining establishments of Korea Town. Front building is a Duplex each with 1 Bedr+ 1 Bath. Rear unit is a Duplex containing 2 studios. HPOZ zoned.
1
1633 W 12th PL
Los Angeles , CA 90015
$799,888Sale Price: 0 AcresLot Size:
4No. Units: $199,972Price / Unit:
1
2
1851 W 12th ST
Los Angeles , CA 90015
$799,500Sale Price: 0 AcresLot Size:
3No. Units: $266,500Price / Unit:
2
3
1647 W 12TH PL
Los Angeles , CA 90015
$860,000Sale Price: 0 AcresLot Size:
4No. Units: $215,000Price / Unit:
3
Sale Comps
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4
1852 W 11th ST
Los Angeles , CA 90015
$880,000Sale Price: 0 AcresLot Size:
2No. Units: $440,000Price / Unit:
4
Sale Comps
1631-1633 1/2 W 12TH ST 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com 12
Regional Map
1631-1633 1/2 W 12TH ST 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com 13
Location Maps
1631-1633 1/2 W 12TH ST 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com 14
Retailer Map
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POPULATION 0.25 MILES 0.5 MILES 1 MILE
Total Population 7,453 26,414 95,121
Average age 28.3 31.3 30.6
Average age (Male) 27.4 30.5 30.2
Average age (Female) 29.7 32.5 31.6
HOUSEHOLDS & INCOME 0.25 MILES 0.5 MILES 1 MILE
Total households 2,015 7,722 30,469
# of persons per HH 3.7 3.4 3.1
Average HH income $35,861 $32,905 $34,511
Average house value $500,231 $490,563
ETHNICITY (%) 0.25 MILES 0.5 MILES 1 MILE
Hispanic 88.7% 82.3% 78.2%
* Demographic data derived from 2010 US Census
Demographics Map & Report
1631-1633 1/2 W 12TH ST 1 | PROPERTY INFORMATION