9905 S Broadway, Los Angeles, CA 90003 12 Units · el segundo long beach torrance address unit mix...

Anthony Walker Mobile: (310) 561-4776

1957 W. Carson Street, Suite 107 Office: (310) 982-7055

Torrance, CA 90501 Fax: (310) 982-7054

Lic. 01908153 [email protected]

Huge Non-Rent Controlled Building Built in 1991

9905 S Broadway, Los Angeles, CA 90003

12 Units

EL SEGUNDO LONG BEACH TORRANCE

Huge non-rent controlled building built in 1991

Excellent unit mix with 10 two bedroom units and 2 one bedroom units

Well maintained property with all modern major systems

Controlled access to parking and units, new internet based security cameras,

call box, and main entry door

Strong actual income at 11.5X gross plus a 14% upside in rents to a market

GRM of 10.13X and a pro forma cap rate of 6.2%

Very well-parked with 22 gated parking spaces (4 currently used for laundry

and storage)

Recently fully tented and fumigated for pest control

Significant exterior refresh completed in 2018

Convenient location close to public transit, 4 miles to new NFL football stadium

Potential for additional income from cellular tower installation

Investment

Highlights


Investment Summary

Price: $2,295,000

Year Built: 1991

Units: 12

Building Sq. Ft: 11238

Lot Square Ft: 10001

Price per Sq. Ft: $204

Price per Unit: $191,250

Parking Spaces: 22 gated

Current GRM: 11.50

Market GRM: 10.13

Current Cap Rate: 5.1%

Market Cap Rate: 6.2%

Proposed Financing

Loan Amount (67%): $1,595,000

Down Pmt (33%): $700,000

Rate (%) 4.50

Amortization (years) 30

Payment $8,082

Debt Cov. Ratio 1.20

Type Units Actual Total Market Total

2BD / 1BA 10 $1,395 $13,950 $1,600 $16,000

1BD/ 1BA 2 $1,300 $2,600 $1,400 $2,800

Totals 12 $16,550 $18,800

Investment

Summary

Annualized Operating Data


2BD/1BA 5 $1025 $5125 $1125 $5625

2BD/1BA 3 $1125 $3375 $1125 $3375

Parking $350 $350 $400 $400

Totals 8 $8850 $9400


2BD/1BA 5 $1025 $5125 $1125 $5625

2BD/1BA 3 $1125 $3375 $1125 $3375

Parking $350 $350 $400 $400

Totals 8 $8850 $9400


2BD/1BA 5 $1025 $5125 $1125 $5625

Income Actual Market

Gross Scheduled Rents $198,600 $225,600

Less Vacancy @3% ($5,958) ($6,768)

Other Income $900 $900

Effective Gross Income $193,542 $219,732

Expenses Actual Market

Taxes $28,688 $28,688

Insurance $6,624 $6,624

Repairs and Maintenance $7,500 $7,500

Property Management $7,742 $8,789

Utilities $15,504 $15,504

Pest Control $1644 $1644

Gardening $792 $792

City Licensing and Permits $519 $519

Elevator Service $2,760 $2,760

Security Service $2,952 $2,424

Cleaning $2,076 $2,076

Total Expenses $76,800 $77,320

Net Operating Income $116,742 $142,412


UNIT NUMBER TYPE ACTUAL RENT MARKET RENT

101 2BD/1BA $1400 $1600

102 2BD/1BA $1400 $1600

103 1BD/1BA $1300 $1400

104 2BD/1BA $1425 $1600

105 2BD/1BA $1450 $1600

106 2BD/1BA $1450 $1600

201 2BD/1BA $1400 $1600

202 2BD/1BA $1425 $1600

203 1BD/1BA $1300 $1400

204 2BD/1BA $1400 $1600

205 2BD/1BA $1200 $1600

206 2BD/1BA $1400 $1600

Total $16,550 $18,800

Rent Roll


Property Photos


ADDRESS UNIT

MIX

PRICE UN

ITS

BLDG.

SIZE

PRICE

/SF

PRICE/UNIT YEAR

BUILT

CAP

RATE

GRM CLOSE

DATE

SUBJECT PROPERTY

10-2/1

2-1/1

$2,295,000 12 12238 $204 $191,250 1991 5.1% 11.5 TBD

1212 W 107th

14-2/1

2-2/2

6-1/1

$3,725,000 22 15339 $243 $169,318 1962 5.4% 11.9 12/1/

2017

10805 S Broadway

8-2/1

8-1/1

$2,150,000 16 14324 $150 $134,375 1959 5.5% 11.9 12/8/

2017

8911 S Figueroa

12-1/1 $1,485,000 12 6050 $245 $123,750 1956 5.2% 12.4 1/12/

2018

AVERAGE $213 $142,481 5.4% 12.1

Comparable Sales


Over $100M sold in 2017

$85M year-to-date sold in 2018

55 years of experience

Over $1B in closed transactions

4000+ Investments Made

2000+ Properties Listed

100+ Millionaires Made

About Buckingham

Investments

9905 S Broadway, Los Angeles, CA 90003 12 Units · el segundo long beach torrance address unit mix...

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