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REAL ESTATE SOLUTIONS
$2,860,000
Adelanto, CA
FEATURES• Well maintained and professionally managed
• Located in an Opportunity Zone
• Diverse unit mix
• Increase rent opportunity
• Each Property is centrally located
• High Growth City
• Near Southern California Logistics Airport a job hub for the area
• Turn Key Property Portfolio
• Ability to implement RUBS and storage income to increase income
AREAAdelanto, Ca
OFFICE
Bob Basenbob.basen@cbcinland.com
Jerrad SchendelJerrad.Schendel@cbcInland.com
JW Lamoreauxjl@lamorgroup.com
©2018 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Real Estate Solutions. All rightsreserved. Coldwell Banker Commercial® and the Coldwell Banker Commercial are registered service marksowned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell BankerCommercial Affiliates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Eachoffice is independently owned and operated. The information provided is deemed reliable, but it is notguaranteed to be accurate or complete, and it should not be relied upon as such. This information should beindependently verified before any person enters into a transaction based upon it.
COLDWELL BANKER COMMERCIALREAL ESTATE SOLUTIONS15500 West Sand Street, 2nd Floor, Victorville, CA 92392760.684.8000
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CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
CONFIDENTIALITY AGREEMENT
This offering has been prepared solely for informational purposes. It is designed to assist a potentialinvestor in determining whether it wishes to proceed with an in-depth investigation of the subjectproperty. While the information contained herein is from sources deemed reliable, it has not beenindependently verified by the Coldwell Banker Commercial affiliate or by the Seller.
The projections and pro forma budget contained herein represent best estimates on assumptionsconsidered reasonable under the circumstances. No representations or warranties, expressed orimplied, are made that actual results will conform to such projections.
This document is provided subject to errors, omissions and changes in the information and is subjectto modification or withdrawal. The contents herein are confidential and are not to be reproducedwithout the express written consent.
Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALLFAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/orafter contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspectand investigate the Property and all improvements thereon, either independently or through agents ofthe buyer’s choosing.
The Seller reserves the right to withdraw the Property being marketed at any time without notice, toreject all offers, and to accept any offer without regard to the relative price and terms of any other offer.Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated ina formal written contract of purchase and sale to be prepared by the Seller and executed by bothparties; and (iii) approved by Seller and such other parties who may have an interest in the Property.Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase andsale, which contract shall supersede prior discussions and writings and shall constitute the soleagreement of the parties.
Prospective buyers shall be responsible for their costs and expenses of investigating the Property andall other expenses, professional or otherwise, incurred by them.
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
04 PROPERTY INFORMATION
Property Overview
Additional Photos
Additional Photos
08 LOCATION INFORMATION
Regional Map
10 FINANCIAL ANALYSIS
Financial Summary
Income & Expenses
Rent Roll
15 SALE COMPARABLES
Sale Comps
Sale Comps Summary
Sale Comps Map
Demographics Map & Report
SA
LE
REAL ESTATE SOLUTIONS
PROPERTYINFORMATIONSECTION 1
OFFICE
Bob Basenbob.basen@cbcinland.com
Jerrad SchendelJerrad.Schendel@cbcInland.com
JW Lamoreauxjl@lamorgroup.com
©2018 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Real Estate Solutions. All rightsreserved. Coldwell Banker Commercial® and the Coldwell Banker Commercial are registered service marksowned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell BankerCommercial Affiliates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Eachoffice is independently owned and operated. The information provided is deemed reliable, but it is notguaranteed to be accurate or complete, and it should not be relied upon as such. This information should beindependently verified before any person enters into a transaction based upon it.
COLDWELL BANKER COMMERCIALREAL ESTATE SOLUTIONS15500 West Sand Street, 2nd Floor, Victorville, CA 92392760.684.8000
CB
CW
OR
LDW
IDE
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M
FO
R S
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CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
OFFERING SUMMARY
Sale Price: $2,860,000
Number Of Units: 26
Cap Rate: 6.12%
NOI: $174,906
Lot Size: 85,656 SF
Building Size: 18,007 SF
Price / SF: $158.83
PROPERTY OVERVIEW
Multifamily
PROPERTY HIGHLIGHTS
• Well maintained and professionally managed
• Located in an Opportunity Zone
• Diverse unit mix
• 6.12% CAP Rate At List
• Each Property is centrally located
• High Growth City
• Near Southern California Logistics Airport a job hub for the area
• Turn Key Property Portfolio
SA
LE
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
SA
LE
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
Address Not Disclosed, Adelanto, CA SA
LE
REAL ESTATE SOLUTIONS
LOCATIONINFORMATIONSECTION 2
OFFICE
Bob Basenbob.basen@cbcinland.com
Jerrad SchendelJerrad.Schendel@cbcInland.com
JW Lamoreauxjl@lamorgroup.com
©2018 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Real Estate Solutions. All rightsreserved. Coldwell Banker Commercial® and the Coldwell Banker Commercial are registered service marksowned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell BankerCommercial Affiliates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Eachoffice is independently owned and operated. The information provided is deemed reliable, but it is notguaranteed to be accurate or complete, and it should not be relied upon as such. This information should beindependently verified before any person enters into a transaction based upon it.
COLDWELL BANKER COMMERCIALREAL ESTATE SOLUTIONS15500 West Sand Street, 2nd Floor, Victorville, CA 92392760.684.8000
CB
CW
OR
LDW
IDE
.CO
M
FO
R S
AL
E
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
Adelanto, CA
SA
LE
REAL ESTATE SOLUTIONS
FINANCIALANALYSISSECTION 3
OFFICE
Bob Basenbob.basen@cbcinland.com
Jerrad SchendelJerrad.Schendel@cbcInland.com
JW Lamoreauxjl@lamorgroup.com
©2018 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Real Estate Solutions. All rightsreserved. Coldwell Banker Commercial® and the Coldwell Banker Commercial are registered service marksowned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell BankerCommercial Affiliates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Eachoffice is independently owned and operated. The information provided is deemed reliable, but it is notguaranteed to be accurate or complete, and it should not be relied upon as such. This information should beindependently verified before any person enters into a transaction based upon it.
COLDWELL BANKER COMMERCIALREAL ESTATE SOLUTIONS15500 West Sand Street, 2nd Floor, Victorville, CA 92392760.684.8000
CB
CW
OR
LDW
IDE
.CO
M
FO
R S
AL
E
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
INVESTMENT OVERVIEW
Price $2,860,000
Price per Unit $110,000
GRM 9.9
CAP Rate 6.1%
Cash-on-Cash Return (yr 1) 3.61 %
Total Return (yr 1) $70,749
Debt Coverage Ratio 1.21
OPERATING DATA
Gross Scheduled Income $288,600
Other Income 10,4000
Total Scheduled Income $299,000
Vacancy Cost $8,658
Gross Income $290,342
Operating Expenses $115,436
Net Operating Income $174,906
Pre-Tax Cash Flow $30,943
FINANCING DATA
Down Payment $858,000
Loan Amount $2,002,000
Debt Service $143,963
Debt Service Monthly $11,996
Principal Reduction (yr 1) $39,806
Adelanto Portfolio, Adelanto, CA SA
LE
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
INCOME SUMMARY
Rental Income $288,600Misc Income $10,400
Gross Income $299,000
EXPENSE SUMMARY
Property Tax* $34,606Insurance $6,500Utilities $36,552Payroll & Taxes $15,600Maintenance & Repairs $7,800Gardening/Pool/Pest Control $2,600Management Fee (3%) $8,658Advertising & Promotion $3,120
Gross Expenses $115,436
Net Operating Income $174,906
Adelanto Portfolio, Adelanto, CA SA
LE
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
UNIT
NUMBER
UNIT
BED
UNIT
BATH
UNIT
SIZE (SF)
CURRENT
RENT
CURRENT
RENT (PER SF)
18140-18146 Poinciana 1 1 666 $775 $1.16
2 1 740 $950 $1.28
2 1 740 $950 $1.28
3 2 950 $1,050 $1.11
18242 Cherimoya 2 1 800 $950 $1.19
2 1 800 $950 $1.19
2 1 800 $950 $1.19
2 1 800 $950 $1.19
11336 Chamberlaine Way 2 1 765 $950 $1.24
2 1 765 $950 $1.24
2 1 765 $950 $1.24
12052 Sand Ave 2 1 765 $950 $1.24
2 1 765 $950 $1.24
18149-55 Mimosa Rd 1 1 666 $775 $1.16
2 1 740 $950 $1.28
2 1 740 $950 $1.28
3 2 950 $1,050 $1.11
11443 Sage Ave 1 1 525 $700 $1.33
2 1 725 $950 $1.31
2 1 725 $950 $1.31
11436 Brockman Ave 1 1 525 $700 $1.33
2 1 725 $950 $1.31
2 1 725 $950 $1.31
11895 White Ave 2 1 790 $950 $1.20
2 1 790 $950 $1.20
Adelanto Portfolio, Adelanto, CA SA
LE
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
UNIT
NUMBER
UNIT
BED
UNIT
BATH
UNIT
SIZE (SF)
CURRENT
RENT
CURRENT
RENT (PER SF)
2 1 790 $950 $1.20
Totals/Averages 19,537 $24,050 $1.23
Adelanto Portfolio, Adelanto, CA SA
LE
REAL ESTATE SOLUTIONS
SALECOMPARABLESSECTION 4
OFFICE
Bob Basenbob.basen@cbcinland.com
Jerrad SchendelJerrad.Schendel@cbcInland.com
JW Lamoreauxjl@lamorgroup.com
©2018 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Real Estate Solutions. All rightsreserved. Coldwell Banker Commercial® and the Coldwell Banker Commercial are registered service marksowned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell BankerCommercial Affiliates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Eachoffice is independently owned and operated. The information provided is deemed reliable, but it is notguaranteed to be accurate or complete, and it should not be relied upon as such. This information should beindependently verified before any person enters into a transaction based upon it.
COLDWELL BANKER COMMERCIALREAL ESTATE SOLUTIONS15500 West Sand Street, 2nd Floor, Victorville, CA 92392760.684.8000
CB
CW
OR
LDW
IDE
.CO
M
FO
R S
AL
E
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
Subject Property
Address Not Disclosed | Adelanto, CA
$2,860,000Sale Price: 18,007 SFBuilding SF:
$158.83Price PSF: 26No. Units:
$110,000Price / Unit: 9.91GRM:
6.12%CAP: $174,906NOI:
Multifamily
1
16621- 16239 Apple Valley RoadApple Valley, CA 92308
$1,455,000Sale Price: 1.09 AcresLot Size:
1988Year Built: 15,540 SFBuilding SF:
$93.63Price PSF: 12No. Units:
$121,250Price / Unit: 10/31/2017Closed:
1
2
16348 Sequoia AveHesperia, CA 92345
$1,150,000Sale Price: 0.7 AcresLot Size:
10,586 SFBuilding SF: $108.63Price PSF:
10No. Units: $115,000Price / Unit:
09/11/2017Closed:
2
3
11891 1st Ave & 11901 1st AveHesperia , CA 92345
$1,900,000Sale Price: 1.2 AcresLot Size:
1985Year Built: 15,192 SFBuilding SF:
$125.07Price PSF: 16No. Units:
$118,750Price / Unit: 05/09/2018Closed:
97%Occupancy:
3
Adelanto Portfolio, Adelanto, CA SA
LE
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
4
15430 Culebra Rd #1-69Victorville, CA 92394
$7,425,500Sale Price: 3.33 AcresLot Size:
1974Year Built: 42,588 SFBuilding SF:
$174.36Price PSF: 67No. Units:
$110,828Price / Unit: 03/01/2018Closed:
97%Occupancy:
4
Adelanto Portfolio, Adelanto, CA SA
LE
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
1
2
3
4
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS
Address Not DisclosedAdelanto, CA
$2,860,000 18,007 SF $158.83 $110,000 26
SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS
16621- 16239 Apple Valley RoadApple Valley, CA92308
$1,455,000 15,540 SF $93.63 $121,250 12
16348 Sequoia AveHesperia, CA92345
$1,150,000 10,586 SF $108.63 $115,000 10
11891 1st Ave & 11901 1st AveHesperia , CA92345
$1,900,000 15,192 SF $125.07 $118,750 16
15430 Culebra Rd #1-69Victorville, CA92394
$7,425,500 42,588 SF $174.36 $110,828 67
PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS
Totals/Averages $2,982,625 20,977 SF $142.19 $113,623 26.25
Adelanto Portfolio, Adelanto, CA SA
LE
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
Address Not Disclosed | Adelanto, CASUBJECT PROPERTY
1Apple Valley, CA92308
16621- 16239 APPLE VALLEY ROAD 2Hesperia, CA92345
16348 SEQUOIA AVE
3Hesperia , CA92345
11891 1ST AVE & 11901 1ST AVE 4Victorville, CA92394
15430 CULEBRA RD #1-69
Adelanto Portfolio, Adelanto, CA SA
LE
CBCWORLDWIDE.COM
REAL ESTATE SOLUTIONSBob Basen760.684.8071bob.basen@cbcinland.com
Jerrad Schendel760.684.8097Jerrad.Schendel@cbcInland.com
JW Lamoreaux760.684.8008jl@lamorgroup.com
POPULATION 1 MILE 5 MILES 10 MILES
Total population 2,096 27,709 151,076
Median age 23.8 26.5 26.7
Median age (Male) 17.8 23.7 25.3
Median age (Female) 29.6 29.8 28.5
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
Total households 613 6,567 40,639
# of persons per HH 3.4 4.2 3.7
Average HH income $32,296 $49,830 $59,791
Average house value $230,592 $252,681
ETHNICITY (%) 1 MILE 5 MILES 10 MILES
Hispanic 48.8% 48.2% 48.2%
* Demographic data derived from 2010 US Census
Adelanto Portfolio, Adelanto, CA SA
LE
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