FULLY ENTITLED & UNDER CONSTRUCTION€¦ · (outdoor entertainment and seating), gourmet kitchen...
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328 E. Live Oak Condo Association 328 E. Live Oak Street, San Gabriel CA 91776 FULLY ENTITLED & UNDER CONSTRUCTION O F F E R I N G M E M O R A N D U M
Transcript of FULLY ENTITLED & UNDER CONSTRUCTION€¦ · (outdoor entertainment and seating), gourmet kitchen...
328 E. Live Oak Condo Association328 E. Live Oak Street, San Gabriel CA 91776
FULLY ENTITLED & UNDER CONSTRUCTION
O F F E R I N G M E M O R A N D U M
328 E. Live Oak Condo AssociationCONTENTS
Exclusively Marketed by:
Thomas TheungBroker626-482-0652License # [email protected]
We obtained the following 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. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.
01 Executive Summary Investment Summary 5 Unit Mix Summary 7 Location Summary 8
02 Property Description Property Features 10 Aerial Map 11 Parcel Map 12 Common Amenities 13 Unit Amenities 14 Property Images 15
03 Rent Roll Rent Roll Details 18
04 Financial Analysis Income & Expense Analysis 20 Multiyear Cash Flow Assumptions 21 Cash Flow Analysis 22
05 Demographics Demographics 25 Demographic Charts 26
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Coldwell Banker and it shouldnot be made available to any other person or entity without the written consent of Coldwell Banker. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees thatrecipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to Coldwell Banker.This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest inthe subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Coldwell Banker has not made any investigation, and makes no warranty or representation withrespect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presenceor absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition orbusiness prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Coldwell Banker has not verified, and will not verify, any of the informationcontained herein, nor has Coldwell Banker conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness ofthe information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses ofinvestigating the subject property.
328 E. Live Oak Condo Association Confidentiality and Disclaimer | 03
CONFIDENTIALITY AND DISCLAIMER:
PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT COLDWELL BANKER FOR MORE DETAILS.Copyright © 2019 CREOP, LLC. All Rights Reserved.
328 E. Live Oak C
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Executive Summary
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Investment Summary
Unit Mix Summary
Location Summary
328 E. Live Oak Condo Association Investment Summary | 05
OFFERING SUMMARYADDRESS 328 E. Live Oak Street
San Gabriel CA 91776COUNTY Los AngelesMARKET Los Angeles CountySUBMARKET San Gabriel ValleyBUILDING SF 17,902LAND SF 24,731NUMBER OF UNITS 10YEAR BUILT 2020YEAR RENOVATED N/AAPN 5367-023-010OWNERSHIP TYPE Fee Simple
FINANCIAL SUMMARYOFFERING PRICE $9,250,000PRICE PSF $516.70PRICE PER UNIT $925,000OCCUPANCY 100.00 %NOI (Pro Forma) $334,600
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2019 Population 27,642 261,889 654,2392019 Median HH Income $69,275 $66,891 $69,7522019 Average HH Income $95,485 $98,791 $100,525
Brand New Construction
Excellent & Convenient Location
Unparalleled Craftsmanship
Highly Desirable Area
Excellent Floor Plan & Layout
Currently under construction in the heart of the City of San Gabriel is thiselegant and magnificent custom 10-unit condo. This 10-unit condo offersunparalleled craftsmanship and exceptional amenities! This 10-unitTuscan/Mission inspired design is truly remarkable inside and out.Features include custom cabinets, quartz counter tops, crown molding,custom windows provide plenty of natural lighting, expansive loggia(outdoor entertainment and seating), gourmet kitchen with island (greatfor entertaining), gorgeous master suite, great room (which can beconverted into an additional bedroom), 2-car garage with additional guestand handicap parking, and much more…
The project sits on an approximately 25,000 square feet rare to find R3,(over half acre) lot with total building size of approximately 17,902 squarefeet for all 10-units combined. There are a total of three buildingsseparated by common area landscape. The first building features Unit #1& Unit #2. The second building features Unit #3 - #6. The third buildingfeatures unit #7 - #10. Unit #1 is approximately 2,500 sq. ft. and featuresa kitchen, dining room, powder room, great room (can be converted intoan additional bedroom), loggia (outdoor seating) on the first floor. Thesecond-floor features 2 bedroom, a bathroom, laundry room and a mastersuite. Unit #2 – Unit #10 is approximately 1,725 sq. ft. each and featuresthe same floor plan and layout as unit #1.
This offering is truly an exceptional and excellent opportunity for investorto purchase a brand new 10-unit condo project as rental incomeinvestment with an option to sell each individual unit separately in thefuture. Based on market rent in the area, proforma gross rental income isestimated to be approximately $464,400 per year. Unit #1 estimated rentis $4,500 per month. Unit #2 – Unit #10 estimated rent is $3,800 permonth.
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328 E. Live Oak Condo Association Unit Mix Summary | 07
Actual MarketUnit Mix # Units Square Feet Current Rent Rent PSF Monthly Income Market Rent Market Rent
PSFMarket Income
3 bd / 2.5 ba 9 1,725 $3,800 $2.20 $34,200 $3,800 $2.20 $34,2004 bd / 3 ba 1 2,500 $4,500 $1.80 $4,500 $4,500 $1.80 $4,500
Totals/Averages 10 1,803 $3,870 $2.16 $38,700 $3,870 $2.16 $38,700
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328 E. Live Oak Street is located in the heart of the City ofSan Gabriel bordering the cities of San Marino, Alhambra,Monterey Park, Rosemead, Temple City, Pasadena, andArcadia. The location is well centralized and provides foreasy access to all freeways (10 freeway, 210 freeway,605freeway,5 freeway,710 freeway,60 freeway). It is only 15minutes away from Downtown L.A. and 40 minutes awayfrom Santa Monica Beach. The subject property isconveniently located near many restaurants, shopping,entertainment, supermarket and public transportation.
Currently under construction in the heart of the City of SanGabriel is this elegant and magnificent custom 10-unitcondo. This 10-unit condo offers unparalleledcraftsmanship and exceptional amenities! This 10-unitTuscan/Mission inspired design is truly remarkable insideand out. Features include custom cabinets, quartz countertops, crown molding, custom windows provide plenty ofnatural lighting, expansive loggia (outdoor entertainmentand seating), gourmet kitchen with island (great forentertaining), gorgeous master suite, great room (which canbe converted into an additional bedroom), 2-car garage withadditional guest and handicap parking, and much more…
The project sits on an approximately 25,000 square feetrare to find R3, (over half acre) lot with total building size ofapproximately 17,902 square feet for all 10-units combined.There are total of three buildings separated by commonarea landscape. The first building features Unit #1 & Unit#2. The second building features Unit #3 - #6. The thirdbuilding features unit #7 - #10. Unit #1 is approximately2,500 sq. ft. and features a kitchen, dining room, powderroom, great room (can be converted into an additionalbedroom), loggia (outdoor seating) on the first floor. Thesecond-floor features 2 bedroom, a bathroom, laundry roomalong with a master suite. Unit #2 – Unit #10 isapproximately 1,725 sq. ft. each and features the samefloor plan and layout as unit #1.
Regional Map
Locator Map
328 E. Live Oak C
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Property Description
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Property Features
Aerial Map
Parcel Map
Additional Maps
Amenities
Property Images
328 E. Live Oak Condo Association Property Features | 10
PROPERTY FEATURESNUMBER OF UNITS 10BUILDING SF 17,902LAND SF 24,731LAND ACRES .58YEAR BUILT 2020YEAR RENOVATED N/A# OF PARCELS 1 (One)ZONING TYPE R3BUILDING CLASS N/ATOPOGRAPHY Rolling/HillyLOCATION CLASS N/ANUMBER OF STORIES 2 + BasementNUMBER OF BUILDINGS 3LOT DIMENSION 61 xx 411NUMBER OF PARKING SPACES 24PARKING RATIO 1.35/1000POOL / JACUZZI NoneFIRE PLACE IN UNIT N/AWASHER/DRYER Hook Up Available
MECHANICALHVAC YesFIRE SPRINKLERS Yes
UTILITIESWATER PublicTRASH PublicGAS PublicELECTRIC Public
CONSTRUCTIONFOUNDATION Concrete DeckFRAMING WoodEXTERIOR StuccoPARKING SURFACE ConcreteROOF Spanish Clay TileSTYLE Tuscan/Mission StyleLANDSCAPING Common Area Landscape
328 E. Live Oak Condo Association Aerial Map | 11
328 E. Live Oak Condo Association Parcel Map | 12
Common AmenitiesCommon Area Open Space Guest ParkingHandicap Parking
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Unit AmenitiesADA Compliance Bathroom & Kitchen Quality ConstructionTuscan/Mission Style ArchitecturalDesign
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Color Rendering 1 Color Rendering 2
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Color Rendering 3 Color Rendering 4
328 E. Live Oak C
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Rent Roll
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Rent Roll Details
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Unit Square Feet Unit Mix Monthly Rent PSF Market Rent Move-in Date Notes1 2,500 4 bd / 3 ba $4,500 $1.80 $4,500 8/1/2021 Rent is estimate only2 1,725 3 bd / 2.5 ba $3,800 $2.20 $3,800 8/1/2021 Rent is estimate only3 1,725 3 bd / 2.5 ba $3,800 $2.20 $3,800 8/1/2021 Rent is estimate only4 1,725 3 bd / 2.5 ba $3,800 $2.20 $3,800 8/1/2021 Rent is estimate only5 1,725 3 bd / 2.5 ba $3,800 $2.20 $3,800 8/1/2021 Rent is estimate only6 1,725 3 bd / 2.5 ba $3,800 $2.20 $3,800 8/1/2021 Rent is estimate only7 1,725 3 bd / 2.5 ba $3,800 $2.20 $3,800 8/1/2021 Rent is estimate only8 1,725 3 bd / 2.5 ba $3,800 $2.20 $3,800 8/1/2021 Rent is estimate only9 1,725 3 bd / 2.5 ba $3,800 $2.20 $3,800 8/1/2021 Rent is estimate only
10 1,725 3 bd / 2.5 ba $3,800 $2.20 $3,800 8/1/2021 Rent is estimate onlyTotals/Averages $38,700 $2.16 $38,700
328 E. Live Oak C
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Financial Analysis
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Income & Expense
Multiyear Cash Flow Assumptions
Multiyear Cash Flow Projections
328 E. Live Oak Condo Association Income & Expense Analysis | 20
INCOME PRO FORMAEffective Gross Income $464,400
Less: Expenses $129,800
Net Operating Income $334,600
Income Notes: Income summary is estimate only.
EXPENSES PRO FORMA
Real Estate Taxes $11,400 $114,000
Insurance $500 $5,000
Landscaping $360 $3,600
Utilities $480 $4,800
Other Expenses $240 $2,400
Total Operating Expense $12,980 $129,800
% of EGI 27.95 %
Per Unit
Expense Notes: Expense are estimate only.
REVENUE ALLOCATION
DISTRIBUTION OF EXPENSES
328 E. Live Oak Condo Association Multiyear Cash Flow Assumptions | 21
GLOBALSale Price $9,250,000
EXPENSESReal Estate Taxes 1.00 %Insurance 1.00 %Landscaping 1.00 %Utilities 3.00 %Other Expenses 1.00 %
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CASH FLOWCalendar Year Year1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Gross Potential RevenueGross Rental Income $464,400 $464,400 $464,400 $464,400 $464,400 $464,400 $464,400 $464,400 $464,400Gross Potential Income $464,400 $464,400 $464,400 $464,400 $464,400 $464,400 $464,400 $464,400 $464,400Effective Gross Income $464,400 $464,400 $464,400 $464,400 $464,400 $464,400 $464,400 $464,400 $464,400Operating ExpensesReal Estate Taxes $114,000 $115,140 $116,291 $117,454 $118,629 $119,815 $121,013 $122,223 $123,446Insurance $5,000 $5,050 $5,101 $5,152 $5,203 $5,255 $5,308 $5,361 $5,414Landscaping $3,600 $3,636 $3,672 $3,709 $3,746 $3,784 $3,821 $3,860 $3,898Utilities $4,800 $4,944 $5,092 $5,245 $5,402 $5,565 $5,731 $5,903 $6,080Other Expenses $2,400 $2,424 $2,448 $2,473 $2,497 $2,522 $2,548 $2,573 $2,599Total Operating Expense $129,800 $131,194 $132,605 $134,033 $135,478 $136,941 $138,421 $139,920 $141,438Net Operating Income $334,600 $333,206 $331,795 $330,367 $328,922 $327,459 $325,979 $324,480 $322,962
Effective Gross Income vs Operating Expenses Cash Flow
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Calendar Year Year1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Financial MetricsPrice / SF $516.70 $516.70 $516.70 $516.70 $516.70 $516.70 $516.70 $516.70 $516.70 $516.70Price / Unit $925,000 $925,000 $925,000 $925,000 $925,000 $925,000 $925,000 $925,000 $925,000 $925,000
328 E. Live Oak C
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Demographics
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Demographic Details
Demographic Charts
328 E. Live Oak Condo Association Demographics | 25
POPULATION 1 MILE 3 MILE 5 MILE
2000 Population 26,493 250,924 623,002
2010 Population 26,618 253,361 631,368
2019 Population 27,642 261,889 654,239
2024 Population 28,057 265,325 664,214
2019 African American 325 2,849 13,184
2019 American Indian 164 1,289 3,849
2019 Asian 15,093 154,645 290,719
2019 Hispanic 8,313 66,069 229,613
2019 White 7,995 68,617 229,074
2019 Other Race 3,055 26,391 92,775
2019 Multiracial 984 7,925 24,140
2019-2024: Population: Growth Rate 1.50 % 1.30 % 1.50 %
2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
less than $15,000 593 7,714 20,262
$15,000-$24,999 659 7,464 18,427
$25,000-$34,999 705 6,869 16,259
$35,000-$49,999 1,171 9,422 23,352
$50,000-$74,999 1,697 14,771 36,826
$75,000-$99,999 1,276 10,418 26,944
$100,000-$149,999 1,385 13,658 35,933
$150,000-$199,999 847 6,332 18,177
$200,000 or greater 739 8,435 22,486
Median HH Income $69,275 $66,891 $69,752
Average HH Income $95,485 $98,791 $100,525
HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Total Housing 9,044 85,054 213,633
2010 Total Households 8,847 83,005 212,189
2019 Total Households 9,072 85,084 218,666
2024 Total Households 9,154 85,821 221,196
2019 Average Household Size 3.00 3.05 2.96
2000 Owner Occupied Housing 4,533 39,323 100,530
2000 Renter Occupied Housing 4,257 42,990 105,688
2019 Owner Occupied Housing 4,687 40,238 103,671
2019 Renter Occupied Housing 4,386 44,846 114,995
2019 Vacant Housing 552 4,312 12,284
2019 Total Housing 9,624 89,396 230,950
2024 Owner Occupied Housing 4,778 41,119 105,965
2024 Renter Occupied Housing 4,376 44,702 115,230
2024 Vacant Housing 545 4,317 12,425
2024 Total Housing 9,699 90,138 233,621
2019-2024: Households: Growth Rate 0.90 % 0.85 % 1.15 %
Source: esri
328 E. Live Oak Condo Association Demographic Charts | 26
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Population by Race
328 E. Live Oak Condo Association Demographic Charts | 27
2019 Household Occupancy - 1 Mile Radius
Average Income Median Income
2019 Household Income Average and Median
328 E. Live Oak Condo Association
Exclusively Marketed by:
Thomas TheungBroker626-482-0652License # [email protected]
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