Blake Manor€¦ · Alex Lin Investment Analyst O: 415.813.5871 M: 626.348.9192 [email protected] Max Rattner Investment Advisor O: 415.230.0999 M: 650.248.4342 [email protected]

Alex LinInvestment Analyst

O: 415.813.5871M: 626.348.9192

[email protected]

Max RattnerInvestment Advisor

O: 415.230.0999M: 650.248.4342

[email protected] #02081586

Tim WarrenVice President

O: 510.336.4719M: 707.363.2463


Kent MitchellSenior Vice President

O: 510.548.2554M: 510.919.4919


Offering Memorandum

Blake Manor570 Boden WayOakland, CA 94610

nainorcal.com 2

Blake Manor570 Boden Way

Oakland, California 94610

The information contained in the following Investment Summary is proprietary and strictly confidential. It is

intended to be reviewed only by the party receiving it from NAI Northern California Investment Real Estate

Brokerage and should not be made available to any other person or entity without the written consent of Broker.

This Investment Summary has been prepared to provide summary, unverified information to prospective

purchasers, and to establish only a preliminary level of interest in the subject property. The information contained

herein is not a substitute for a thorough due diligence investigation. Broker has not made any investigation, and

makes no warranty or representation, with respect 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 presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal

regulations, the physical condition of improvements thereon, or the financial condition or business prospects of

any tenant, or any tenant’s plans or intentions to continue occupancy of the subject property.

The information contained in the Marketing Brochure has been obtained from sources we believe to be reliable;

however, Broker has not verified, and will not verify, any of the information contained herein, nor has Broker

conducted any investigation regarding these matters and makes no warranty or representation whatsoever

regarding the accuracy or completeness of the information provided. All potential purchasers must take

appropriate measures to verify all of the information set forth herein.

Kent MitchellO: 510 548 [email protected] CalDRE #01784628

Tim WarrenO: 510 336 [email protected] CalDRE #02008347

Max RattnerO: 415 230 [email protected] CalDRE #02081586

Alex LinO: 415 813 [email protected]

For More Information:

Confidentiality & Disclosure

Blake Manor570 Boden Way, Oakland, CA 94610

Table of Contents

4 Section 1Property Information

7 Section 2Location Information

10 Section 3Financial Analysis

15 Section 4Demographics

Table Of Contents


Section 1

PROPERTYINFORMATION

1

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STATS POPULATION AVG. HHINCOME

0.5 MILES 13,820 $73,223

1 MILE 57,175 $70,279

1.5 MILES 101,955 $71,964

DEMOGRAPHICS

* Figures shown represent estimates

SALE PRICE: $4,500,000

PRICE/UNIT: $500,000

PRICE/SF: $366

NUMBER OF UNITS: 9

CAP RATE: 4.24%

GRM: 14.4

MARKET CAP RATE: 5.72%

MARKET GRM: 11.80

NOI: $190,729

LOT SIZE: 14,000 SF

BUILDING SIZE: 12,294 SF

YEAR BUILT: 1960

Executive Summary


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Additional Photos


Section 2

LOCATIONINFORMATION

2

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Location Maps


Aerial Map


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Section 3

FINANCIALANALYSIS

3

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Investment Overview CURRENT MARKET

Price $4,500,000

Number of Units 9

Price per Unit $500,000

Approximate Square Footage 12,294

Price per Square Footage $366

GRM 14.40 11.80

CAP Rate 4.24% 5.72%

Operating Data CURRENT MARKET

Gross Scheduled Income $312,408 $381,288

Vacancy Cost (3.0%) - $9,372 - $11,438

Gross Operating Income $303,035 $369,849

Operating Expenses - $112,306 - $112,306

Net Operating Income $190,729 $257,543

Debt Service - $150,049 - $150,049

Pre-Tax Cash Flow $40,680 $107,494

Cash-on-Cash Return % (yr 1) 2.26% 5.97%

Principal Reduction (yr 1) + $49,646 + $49,646

Total Return (yr 1) $90,327 $157,140

Return on Investment % 5.02% 8.73%

Financial Summary


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Financing Data CURRENT

Loan Amount $2,700,000

LTV 60.00%

Interest Rate 3.750%

Debt Service $150,049

Debt Service Monthly $12,504

Amortization 30

Financial Quote


UnitNumber

UnitBed

UnitBath

UnitSize (SF)

CurrentRent

CurrentRent (Per SF)

MarketRent

MarketRent/SF

#1 2 2 1,320 $2,136 $1.62 $3,500 $2.65

#2 2 2 1,320 $2,020 $1.53 $3,500 $2.65

#3 2 2 1,320 $1,724 $1.31 $3,500 $2.65

#4 (Vacant) 2 2 1,320 $3,500 $2.65 $3,500 $2.65

#5 2 2 1,320 $2,780 $2.11 $3,500 $2.65

#6 2 2 1,320 $3,100 $2.35 $3,500 $2.65

#7 (Vacant) 2 2 1,320 $3,500 $2.65 $3,500 $2.65

#8 (Vacant) 2 2 1,320 $3,500 $2.65 $3,500 $2.65

#9 (Vacant) 2 2 1,320 $3,500 $2.65 $3,500 $2.65

Laundry $94 $94

Parking $180 $180

Totals/Averages 11,880 $26,034 $2.19 $31,774 $2.65

Rent Roll


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Fixed Expenses Expense Expense / Unit % Of Total % Gross Notes

Property Tax $61,596 $6,844 54.85% 20.33% 1.3688%

Special Assessments $4,118 $457 3.67% 1.36% 19-20 Actual

Insurance $5,362 $595 4.77% 1.77% 2019 Actual

TOTAL FIXED EXPENSES $71,076 $7,897 63.29% 23.45%

Operational Expenses:

Maintenance $4,500 $500 4.01% 1.48% Est $500/unit

Janitorial Service $6,000 $666 5.34% 1.98% 2019 Actual

Elevator Service $1,260 $140 1.12% 0.42% 2019 Actual

Reserves $1,800 $200 1.6% 0.59% Est $200/unit

AT&T $455 $50 0.41% 0.15% 2019 Actual

PG&E $3,130 $347 2.79% 1.03% 2019 Actual

Water $3,433 $381 3.06% 1.13% 2019 Actual

Refuse $4,695 $521 4.18% 1.55% 2019 Actual

Business License $3,055 $339 2.72% 1.01% 2019 Actual

Rent Board $909 $101 0.81% 0.3% $101/unit

Management $11,993 $1,332 10.68% 3.96% Est 4%/gross

TOTAL OPERATIONAL EXPENSES $41,230 $4,581 36.71% 13.61%

TOTAL EXPENSES: $112,306 $12,478 100% 37.06%

Expenses Sheet


Section 4

DEMOGRAPHICS

4

* Demographic data derived from 2010 US Census

Population 0.5 Miles 1 Mile 1.5 MilesTOTAL POPULATION 13,820 57,175 101,955

MEDIAN AGE 38.0 37.8 38.2

MEDIAN AGE (MALE) 38.6 38.0 37.9

MEDIAN AGE (FEMALE) 37.9 37.7 38.5

Households & Income 0.5 Miles 1 Mile 1.5 MilesTOTAL HOUSEHOLDS 7,895 30,956 51,828

# OF PERSONS PER HH 1.8 1.8 2.0

AVERAGE HH INCOME $73,223 $70,279 $71,964

AVERAGE HOUSE VALUE $579,878 $550,057 $601,708

Ethnicity 0.5 Miles 1 Mile 1.5 Miles% HISPANIC 10.2% 12.5% 12.3%

Race 0.5 Miles 1 Mile 1.5 Miles% WHITE 49.8% 45.9% 45.8%

% BLACK 24.4% 23.8% 20.9%

% ASIAN 20.5% 24.3% 27.7%

% HAWAIIAN 0.0% 0.1% 0.2%

% INDIAN 0.2% 0.4% 0.4%

% OTHER 5.0% 5.6% 5.2%

Demographics Map


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* Demographic data derived from 2010 US Census

0.5 Miles 1 Mile 1.5 Miles

Total Households 7,895 30,956 51,828

Total Persons Per Hh 1.8 1.8 2.0

Average Hh Income $73,223 $70,279 $71,964

Average House Value $579,878 $550,057 $601,708

0.5 Miles 1 Mile 1.5 Miles

Total Population 13,820 57,175 101,955

Median Age 38.0 37.8 38.2

Median Age (Male) 38.6 38.0 37.9

Median Age (Female) 37.9 37.7 38.5

Demographics Report


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Alex LinInvestment Analyst

O: 415.813.5871M: 626.348.9192

[email protected]

Max RattnerInvestment Advisor

O: 415.230.0999M: 650.248.4342


Tim WarrenVice President

O: 510.336.4719M: 707.363.2463


Kent MitchellSenior Vice President

O: 510.548.2554M: 510.919.4919


Documents

Blake Manor€¦ · Alex Lin Investment Analyst O: 415.813.5871 M: 626.348.9192 [email protected] Max Rattner Investment Advisor O: 415.230.0999 M: 650.248.4342 [email protected]