Cabrillo Custom Fourplex...336 CABRILLO STREET, COSTA MESA, CA 92627 FOR SALE Cabrillo Custom Fourplex INCOME Current Market Scheduled Market Rent $98,400 $125,340 Less: Vacancy (3.00%)

This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor. KIDDER.COM

Cabrillo Custom Fourplex336 CABRILLO STREET, COSTA MESA, CA 92627

STEVEN C. BROMBAL

[email protected] N° 00972129

JOSHUA Y. RHEE

[email protected] N°01914094

NICHOLAS J. GOULD


FOR SALE

PRIDE OF OWNERSHIP INVESTMENT OPPORTUNITY

http://www.kidder.com/



This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other professional advisor.

KIDDER.COM

336 CABRILLO STREET, COSTA MESA, CA 92627

FOR SALE

Cabrillo Custom Fourplex

INCOME

Current Market

Scheduled Market Rent $98,400 $125,340

Less: Vacancy (3.00%) ($2,952) ($3,760)

Net Rental Income $95,448 $121,580

Total Operating Income (EGI) $95,448 $121,580

EXPENSES

Per Unit Current Market

Administrative $88 $350 $350

Repairs & Maintenance/Turnover $1,405 $5,618 $5,618

Utilitiesi $196 $784 $784

Contracted Services $435 $1,738 $1,738

Real Estate Taxes (1.0513%) $5,506 $22,025 $22,025

Special Assessments $523 $2,092 $2,092

Insurance $839 $3,357 $1,400

Total Expenses $35,964 $34,007

% of GSI 37% 27%

Per Unit $8,991 $8,502

Per SF $9.31 $8.81

Net Operating Income $59,484 $87,573

UNIT MIX SUMMARY

Unit # Unit Type Unit SF Total SF Current Rent Market Rent Current Rent/SF Market Rent/SF

A 2 BR / 1.5 BA TH 975 975 $2,050 $2,695 $2.10 $2.76

B 2 BR / 1.5 BA TH 975 975 $2,050 $2,550 $2.10 $2.62

C 2 BR / 1.5 BA TH 975 975 $2,000 $2,550 $2.10 $2.62

D 2 BR / 1.75 BA 937 937 $2,100 $2,650 $2.24 $2.83

4 Total/Avg 966 3,862 $2,050 $2,611 $2.12 $2.70

VALUATION ANALYSIS

Price Price/Unit Price/SFCap Rate (current)

Cap Rate (market)

GRM (current)

GRM (market)

Listing Price $2,095,000 $523,750 $542.47 2.84% 4.18% 21.29 16.71

STEVEN C. BROMBAL


JOSHUA Y. RHEE


NICHOLAS J. GOULD





KIDDER.COM

Property DescriptionRarely available custom-designed four-unit property constructed in 1987 in the coveted Eastside Costa Mesa submarket. The property is directly adjacent and a brief walk to the 17th Street retail corridor. Spanish architecture featuring massive archways, tile roofing, and spacious floorplans make this a unique and one-of-a-kind offering.

There are (3) two-bedroom, 1.5-bathroom townhouse units each with a private enclosed yard. Unit A in the front of the building has a balcony and private yard, and could command a site-specific rent. Units B and C are the other townhouse units which also feature private enclosed yards. Unit D is a two-bedroom, 1.75-bathroom floorplan featuring a separate bath with a stall shower, and is located upstairs all on one level with a balcony off the master bedroom.

All townhouse units include interior laundry hookups for a full-sized washer and dryer while unit D has interior laundry hookups for a stacked washer-dryer. There are three open parking spaces in the front of the building outlined with concrete curbing and mature landscaping. There are four tuck-under covered parking spaces with individual storage cabinets, and one open space –all at the rear of the property.

The units are individually metered for gas and electricity, and each unit has a separate hot water heater and forced-air heating. Owner utility responsibilities are minimal covering outside lights, water, and sewer. The average rent is currently $2,050 with the last rent increase effective June 2019. Pro forma market rents average $2,611 and are based upon the location and unit amenities.

Rents have been collected for April and the management company is not anticipating issues going forward based upon past employment history and historical rent collections.


FOR SALE


STEVEN C. BROMBAL


JOSHUA Y. RHEE


NICHOLAS J. GOULD


PROPERTY SUMMARY

Units 4

Parcel Number 425-013-09

Year Built 1987

Metering Individual Gas and Electric; Master Water

Parking 4 Covered, 3 Open and 1 Tandem

Total NRSF 3,862 SF

Average Unit Size 966 SF

Lot Size 7,233 SF

Type of Building Frame and Stucco

HVAC Forced Air Heat

Hot Water Individual Hot Water Heaters

Roof Pitched Tile

Building Type Two-Story, Garden-Style




KIDDER.COM

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FOR SALE


STEVEN C. BROMBAL


JOSHUA Y. RHEE


NICHOLAS J. GOULD





KIDDER.COM

E 18TH ST

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FOR SALE


STEVEN C. BROMBAL


JOSHUA Y. RHEE


NICHOLAS J. GOULD





KIDDER.COM

Location OverviewEncompassing over 15 miles, the city of Costa Mesa is situated along 42 miles of the Southern California coast. The city’s southernmost border is only one mile from the Pacific Ocean and is surrounded by the cities of Newport Beach, Huntington Beach, Irvine, and Santa Ana. This thriving community features upscale shopping and strong business centers, factors that continue to draw new residents to the area.

Costa Mesa’s economy is largely based on tourism, retail, sporting/recreation, healthcare, and technology. The city’s quality of life, educated workforce, and business incentives have attracted numerous companies to the area including the corporate and regional headquarters of Experian, El Pollo Loco, Hurley, and Volcom.

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STEVEN C. BROMBAL


JOSHUA Y. RHEE


NICHOLAS J. GOULD




Documents

Cabrillo Custom Fourplex...336 CABRILLO STREET, COSTA MESA, CA 92627 FOR SALE Cabrillo Custom Fourplex INCOME Current Market Scheduled Market Rent $98,400 $125,340 Less: Vacancy (3.00%)