255-265 - LoopNet · 2017. 7. 19. · Sale Comps Map 255-265 S Monte Vista Street | La Habra, CA 90631 SUBJESUBJECT PROPERCT PROPERTTYY 11 La Habra, CA 90631 1340 HILLAND1340 HILLANDALE

O F F E R I N G M E M O R A N D U M

PRIME NORTHERNORANGE COUNTY LOCATION

EXCELLENT MARKET FUNDAMENTALS THAT SUPPORT UPSIDE

255-265S. MONTE VISTA

LA HABRA, CALIFORNIA

THE NORTHPARK VILLAS IN LA HABRA MU

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SVN | Vanguard Investment Advisors CAMERON IRONSLic. [email protected] ANTHONY [email protected]

JON DAVISLic. [email protected]

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property overview

investment overview

area overview

sales & rentcomparables

financials

TABLE OF CONTENTS

2 255-265S. MONTE VISTA

L A H A B R A , C A L I F O R N I A

INVESTMENT SUMMARY

ASKING PRICE$1,788,888

YEAR 1 CAP RATE4.20%

YEAR 1 NOI$75,153

NUMBER OF UNITS6

TOTAL BUILDING SIZE5,122 SF

LOT SIZE0.46 ACRES

YEAR BUILT1964

ZONINGR-4 MULTIPLE FAMILY DWELLING

PRICE / SF$349.00

PROPERTY OVERVIEW SVN | Vanguard is pleased to present The Northpark Villas. This beautiful multifamily residential property consists of six large two bedroom/one bathroom apartment homes that average 854 square feet. Constructed in 1960, there are 2 identical wood-frame stucco buildings mirroring across a lush landscaped central walkway. Pitched roofs with new insulation and attic venting. Ceiling fans are featured in living rooms, kitchens and bedrooms. New counter tops in the kitchens and bathrooms. Each unit features a roomy private outdoor patio space in the front and cozy backyards. The property encompasses approximately 20,115 SF with six separate garage parking spaces and additional surface parking. Units are separately metered for both gas and electric and operates efficiently with average to below average maintenance costs. The property is ideal for a value add investor. Through agressive management the Buyer can realize approximately 15% rental growth.The Monte Vista neighborhood is a mix of very old homes, and newer apartment/condo properties. As a result of completely modernizing the interior of each unit, and due to the high demand for rental units in this neighborhood, Northpark Villas can command artificially high rents when compared to the size and age of each unit. This six-unit property has been well maintained and will be an excellent investment for a buyer looking at long or short investment horizons. Please note: Sale of the property is subject to court confirmation and may also be subject to an over-bid proceeding.

255-265S MONTE VISTA


I NVESTMENT OVERV I EW

All SVN® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

LOCATION OVERVIEW Northpark Villas is set along the gentle sloping hills of La Habra. This property is well situated just one block east of Beach Blvd. and just south of La Habra Blvd. This site is in close proximity to excellent schools, a true community theater, a tennis center, and many parks and sports facilities. The Disney Citrus Classic Softball Tournament is held at La Bonita Park and is home to a skate park, multi-use rink and court, lighted softball fields and playground. Shopping, dining and entertainment are all within easy reach at Westridge Shopping Plaza, the La Habra Marketplace, and Imperial Promenade. La Habra lies in the northwest corner of Orange County, off the Santa Ana Freeway and Highway 57. The city is well connected to the rest of Orange County as well as to the greater Los Angeles area. The property is also within 10 minutes driving distance to Fullerton College, Cal State Fullerton, and Chapman University as well as St. Jude's Hospital, Raytheon and other major employers in Orange County. This community-driven neighborhood focuses on a comfortable and healthy lifestyle. Located in the foothills of Orange County, La Habra is a treasure trove of undiscovered natural wonders. The area enjoys sunny, mild weather year round. La Habra provides residents with community spirit but also nurtures a thriving business center.

PROPERTY DESCRIPTION

ADDRESS255-265 S Monte Vista St, La Habra, CA 90631

APN(S)298-011-10, 298-011-11

TOTAL BUILDING SIZE5,122 SF

LOT SIZE20,115 SF

YEAR BUILT1964 NUMBER OF BUILDINGS2 Residential Buildings plus 1 6 car garage

STORIES1 (One)

PARKING6 (Six) Individual garages

ROOFNew asphault shingles

LCONSTRUCTION TYPEWood frame, masonry with stucco walls

ZONGINGR-4 Multiple Family Dwellings



PROPERTY OVERV I EW


S I TE P L AN

AREA OVERV I EW 255-265S MONTE VISTA


255-265S. MONTE VISTA


Westridge Plaza

La Bonita Park

La Habra, CALa Habra is a city in the northwestern corner of Orange County, California, United States. In the 2010

census, the city had a population of 60,239. Its related city, La Habra Heights, is located to the north of

La Habra, and is in Los Angeles County. For more than 70 years, La Habra was known as the city just

south of La Habra Heights where the Hass avocado, of the Hass Avocado Mother Tree, was planted by

Rudolph Hass in the 1920s. The fruit from this tree has since become one of the most popular avocado

cultivars worldwide. The Hass Mother Tree succumbed to root rot in 2002. The La Habra Stakes, run

since 1973 at the Santa Anita Park Thoroughbred race track, is named for La Habra. Although La Habra

lies within Orange County, the city contracts with the Los Angeles County Fire Department for EMS and

fire protection.

La Habra is uniquely positioned between L.A. and Orange County. Unlike the rest of Orange County’s

cities, La Habra is primarily bounded by L.A. County cities: La Mirada, Whittier, Hacienda Heights and La

Habra Heights border the city to the southwest, west and north. The only Orange County cities that

border La Habra are Brea and Fullerton.

The La Habra community bridges multiple resources and relationships together to create a society that

thrives economically, provides education excellently, motivates personal wellness extraordinarily, and

inspires the non-profit and faith-based communities to become more voluntary. There are many special

events in La Habra. From our local tradition of the heart moving Veteran's Day Celebrations to the KTLA

early morning news shows at the Children's Museum at La Habra, the community enjoys celebrating

one another within a myriad of special events that are held throughout the year.

City Highlights

Arts and Culture in La Habra is a very vibrant and

growing community. From The Children’s Museum at

La Habra being honored as a California finalist for the

2014 National Medal for Museum and Library Service,

to creating the 2nd Annual Tamale Festival event with

over 10,000 participants and over 20,000 tamales

sold, to a Helicopter Egg Drop over La Bonita Park for

the Spring Family Eggstravaganza, there is no other

place you would rather be than in La Habra!

Orange CountyOrange County is a county in the U.S. state of California. As of the 2010 census, the population was

3,010,232 making it the third-most populous county in California, the sixth-most populous in the United

States, and more populous than twenty-one U.S. states.[6] Its county seat is Santa Ana. It is the second

most densely populated county in the state, second only to San Francisco County.[8] The county's four

largest cities, Anaheim, Santa Ana, Irvine, and Huntington Beach each have populations exceeding

200,000. Several of Orange County's cities are on the Pacific coast, including Huntington

Beach, Newport Beach, Laguna Beach, and San Clemente.

Orange County is included in the Los Angeles-Long Beach-Anaheim, CA Metropolitan Statistical Area.

Thirty-four incorporated cities are located in the county; the newest is Aliso Viejo, which was

incorporated in 2001. Anaheim was the first city, incorporated in 1870, when the region was still part of

neighboring Los Angeles County. Whereas most population centers in the United States tend to be

identified by a major city, there is no defined urban center in Orange County. It is mostly suburban

except for some traditionally urban areas at the centers of the older cities of Anaheim, Fullerton,

Huntington Beach, Orange, and Santa Ana. There are several edge city-style developments such as

Irvine Business Center, Newport Center, and South Coast Metro.

The county is famous for its tourism as the home of attractions like Disneyland, Knott's Berry Farm, and

several beaches along its more than 40 miles (64 km) of coastline. It is also known for its

politicalconservatism — a 2005 academic study listed three Orange County cities as among America's

25 most conservative, making it one of two counties in the nation containing more than one such city.

(Maricopa County, Arizona also has three cities on the list.[9]) It is part of the Tech Coast.

Economic & Business Climate

With over 3.1 million residents, Orange County is the 6th

most populous county in the U.S. With a total civilian labor

force of 1.6 million, Orange County enjoys a diverse

economy, with output and employment well-distributed

among sectors. The county’s Gross Domestic Product in

2013 was estimated to be $197.1 billion. It also ranks

15th among the nation’s metro areas based on its Gross

Metropolitan Product. And if the county were a separate

country, it would be ranked 45th in the world.

Sale Comps Map

255-265 S Monte Vista Street | La Habra, CA 90631SUBJESUBJECT PROPERCT PROPERTTYY

11 La Habra, CA90631

1340 HILLAND1340 HILLANDALE AALE AVEVE22 Fullerton, CA

92832

521 N POMONA A521 N POMONA AVEVE33 Fullerton, CA

92833

1194 W V1194 W VALENCIA DRALENCIA DR44 Fullerton, CA

92833

4050 FRANKLIN A4050 FRANKLIN AVEVE

55 Fullerton, CA92833

1919 HOUS1919 HOUSTTON AON AVEVE66 Fullerton, CA

92831

219 S LILLIE A219 S LILLIE AVEVE77 Anaheim, CA

92802

318 E W318 E WAKEFIELD AAKEFIELD AVEVE88 Whittier, CA

90602

12815 O12815 OAK SAK STT

99 Whittier, CA90605

13802 RAMONA DR13802 RAMONA DR



S A LE S COMPARABLE S


Sale Comps

SUBJESUBJECT PROPERCT PROPERTTYY

255-265 S Monte Vista Street | La Habra, CA 90631

$1,788,888Sale Price: 0.46 ACLot Size:

1964Year Built: 5,122 SFBuilding SF:

$349.26Price PSF: 6No. Units:

$298,148Price / Unit: 15.47GRM:

4.2%Cap: $75,153NOI:

11

1340 HILLAND1340 HILLANDALE AALE AVEVE

La Habra, CA 90631




$250,000Price / Unit: 4.5%CAP:

07/21/2016Closed: 100%Occupancy:

14.8GRM: $67,500NOI:

11

22

521 N POMONA A521 N POMONA AVEVE

Fullerton, CA 92832




$172,222Price / Unit: 5.79%CAP:


11.33GRM: $89,745NOI:

22

33

1194 W V1194 W VALENCIA DRALENCIA DR

Fullerton, CA 92833






$86,950NOI:

33

44

4050 FRANKLIN A4050 FRANKLIN AVEVE

Fullerton, CA 92833




$225,500Price / Unit: 4.16%CAP:


$93,825NOI:

44

55

1919 HOUS1919 HOUSTTON AON AVEVE

Fullerton, CA 92833




$270,375Price / Unit: 4.49%CAP:


14.47GRM: $97,119NOI:

55

66

219 S LILLIE A219 S LILLIE AVEVE

Fullerton, CA 92831




$182,500Price / Unit: 4.26%CAP:


13.62GRM: $77,745NOI:

66

77

318 E W318 E WAKEFIELD AAKEFIELD AVEVE

Anaheim, CA 92802






12.53GRM: $96,900NOI:

77

88

12815 O12815 OAK SAK STT

Whittier, CA 90602




$171,250Price / Unit: 4.87%CAP:


13.74GRM: $66,719NOI:

88

99

13802 RAMONA DR13802 RAMONA DR

Whittier, CA 90605




$225,000Price / Unit: 4.28%CAP:


14.77GRM: $57,780NOI:

99

Sale Comps Summary

SUBJESUBJECT PROPERCT PROPERTTYY PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF PRICE/UNITPRICE/UNIT CCAPAP GRMGRM # OF UNITS# OF UNITS

NNororthpathpark Villasrk Villas

255-265 S Monte Vista Street

La Habra, CA 90631

$1,788,888 5,122 SF $349.26 $298,148 4.2% 15.47 6

SSALE CALE COMPSOMPS PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF PRICE/UNITPRICE/UNIT CCAPAP GRMGRM # OF UNITS# OF UNITS CLCLOSEOSE

1340 H1340 Hillaillandale Andale AvveeLa Habra, CA90631

$1,500,000 5,900 SF $254.24 $250,000 4.5% 14.8 6 07/21/2016

521 N P521 N Pomona Aomona AvveeFullerton, CA92832

$1,550,000 4,734 SF $327.42 $172,222 5.79% 11.33 9 01/20/2017

1194 W V1194 W Valencia Dralencia DrFullerton, CA92833

$1,850,000 5,452 SF $339.33 $231,250 4.7% - 8 06/10/2016

4050 F4050 Frraanklin Anklin AvveeFullerton, CA92833

$2,255,000 7,000 SF $322.14 $225,500 4.16% - 10 07/29/2016

1919 H1919 Housoustton Aon AvveeFullerton, CA92833

$2,163,000 7,698 SF $280.98 $270,375 4.49% 14.47 8 10/06/2016

219 S Lillie A219 S Lillie AvveeFullerton, CA92831

$1,825,000 6,204 SF $294.17 $182,500 4.26% 13.62 10 03/30/2017

11

22

33

44

55

66

SUBJESUBJECT PROPERCT PROPERTTYY PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF PRICE/UNITPRICE/UNIT CCAPAP GRMGRM # OF UNITS# OF UNITS

318 E W318 E Wakakeefield Afield AvveeAnaheim, CA92802

$1,900,000 9,022 SF $210.60 $237,500 5.1% 12.53 8 09/01/2016

12815 O12815 Oak Sak SttWhittier, CA90602

$1,370,000 4,818 SF $284.35 $171,250 4.87% 13.74 8 08/22/2016

13802 R13802 Raamona Drmona DrWhittier, CA90605

$1,350,000 5,043 SF $267.70 $225,000 4.28% 14.77 6 03/15/2017

PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF PRICE/UNITPRICE/UNIT CCAPAP GRMGRM # OF UNITS# OF UNITS CLCLOSEOSE

TTootals/Atals/Avvereragesages $1,$1,751,444751,444 6,208 SF6,208 SF $282.$282.1313 $215,$215,961961 4.4.68%68% 13.13.6161 8.8.1111

77

88

99

F INANC IALS 255-265S MONTE VISTA


SVN | Vanguard

Financial Summary

NORTHPARK VILLAS | 255-265 S MONTE VISTA STREET LA HABRA, CA 90631

INVESINVESTMENT OTMENT OVERVERVIEWVIEW AACTUCTUAL FINANCIALSAL FINANCIALS

Price $1,788,888Price per Unit $298,148GRM 15.5CAP Rate 4.1%Cash-on-Cash Return (yr 1) 4.09 %Total Return (yr 1) $73,179Debt Coverage Ratio -

OPERAOPERATING DTING DAATTAA AACTUCTUAL FINANCIALSAL FINANCIALS

Gross Scheduled Income $115,620Other Income -Total Scheduled Income $115,620Vacancy Cost $3,469Gross Income $115,620Operating Expenses $42,441Net Operating Income $73,179Pre-Tax Cash Flow $73,179


INCINCOME SUMMAROME SUMMARYY AACTUCTUAL FINANCIALSAL FINANCIALS PER SFPER SF

Rent $115,620 $22.57

GrGross Ioss Incncomeome $115,$115,620620 $22.57$22.57

EXPENSE SUMMAREXPENSE SUMMARYY AACTUCTUAL FINANCIALSAL FINANCIALS PER SFPER SF

Property Taxes (1.22%) $21,466 $4.19Maintenance / General Repairs ($350/Unit) $2,100 $0.41Utilities - Electricity $1,250 $0.24Utilities - Sewer $700 $0.14Utilities - Water $6,680 $1.30Trash ($100/month) $1,200 $0.23Management (5%) $5,781 $1.13Landscape ($80/month) $960 $0.19Insurance ($.45 per SF) $2,304 $0.45

GrGross Expensesoss Expenses $42,44$42,4411 $8.29$8.29

NNeet Opert Operaating Iting Incncomeome $73,$73,179179 $14.29$14.29

NORTHPARK VILLAS | 255-265 S MONTE VISTA STREET LA HABRA, CA 90631 SVN | Vanguard | Page 22

Income & Expenses


UNITUNITNUMBERNUMBER

UNITUNITBEDBED

UNITUNITBBAATHTH

UNITUNITSIZESIZE((SF)SF)

LEALEASESESSTTARARTT

LEALEASESEENDEND

LEALEASESESSTTARARTT

CURRENTCURRENTRENT (RENT (PERPER

SF)SF)MARKETMARKET

RENTRENT

MARKETMARKETRENTRENT//

SFSFSESECURITCURITYYDEPOSITDEPOSIT

CURRENTCURRENTRENTRENT

RERECCOOVERVERYYTTYPEYPE CCOMMENTSOMMENTS

255 2 1 854 9/2015 9/2016 Current $1.98 $1,850 $2.17 $1,695 $1,695

257 2 1 854 9/2015 5/2017 Current $1.87 $1,850 $2.17 $1,595 $1,595

259 2 1 854 3/2013 6/2014 Current $1.76 $1,850 $2.17 $1,395 $1,500

261 2 1 854 9/2015 9/2016 Current $1.87 $1,850 $2.17 $1,595 $1,595

263 2 1 854 6/2013 6/2014 Current $1.76 $1,850 $2.17 $1,350 $1,500

265 2 1 854 11/2016 6/2018 Current $2.05 $1,850 $2.17 $2,000 $1,750

TTootals/tals/

AAvvereragesages

5,5,121244 $1.88$1.88 $11,$11,100100 $2.$2.1717 $9$9,,630630 $9$9,,635635 $9$9,,630630 $9$9,,630630

Rent Roll

POPULAPOPULATIONTION 00.5 MILES.5 MILES 1 MILE1 MILE 1.5 MILES1.5 MILES

Total population 9,585 30,920 52,881

Median age 28.9 31.5 33.2

Median age (male) 28.8 31.1 32.7

Median age (Female) 29.2 31.9 33.9

HOUSEHOLDS & INCHOUSEHOLDS & INCOMEOME 00.5 MILES.5 MILES 1 MILE1 MILE 1.5 MILES1.5 MILES

Total households 2,552 9,201 16,374

# of persons per HH 3.8 3.4 3.2

Average HH income $61,053 $69,383 $76,702

Average house value $425,965 $423,320 $476,551

* Demographic data derived from 2010 US Census

Demographics Map



The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be usedfor any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent ofthe SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person isauthorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receivingthese materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.

Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the informationcontained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. ThisOffering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct,and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representationsor warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or madeavailable to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fullyexecuted and delivered Real Estate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor anyof their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this OfferingBrochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, toreject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with anyentity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OfferingBrochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on termsacceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing andagreed to release the Owner and the SVN Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any suchcorrespondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospectivepurchaser proceeds at its own risk.

Disclaimer

SVN | Vanguard Investment Advisors CAMERON IRONSLic. [email protected] ANTHONY [email protected]

JON DAVISLic. [email protected]



Documents

255-265 - LoopNet · 2017. 7. 19. · Sale Comps Map 255-265 S Monte Vista Street | La Habra, CA 90631 SUBJESUBJECT PROPERCT PROPERTTYY 11 La Habra, CA 90631 1340 HILLAND1340 HILLANDALE