South Coronado Street, - LoopNet...A 12-Unit Apartment Opportunity 406 South Coronado Street, Los Angeles, CA 90057 William James Multi-Family Investment Sales Director Office: (310)

A 12-UnitApartment Opportunity

406South Coronado Street,

Los Angeles, CA 90057

William JamesMulti-Family Investment Sales

DirectorOffice: (310) 593-9867Mobile: (310) 600-9858

Will iam.James@cbcadvisors .comLicence #: CA 01734419

Tom JonssonMulti-Family Investment Sales

Managing PrincipalOffice: (310) 593-9866Mobile: (310) 966-0122

Tom.Jonsson@cbcadvisors .comLicence #: CA 01755842

CONFIDENTIALITY AGREEMENT

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party intended to be receiving it from CBC Advisors and should not be made available to any other person or entity without the written consent of CBC Advisors. This Marketing Brochure 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 nor shall any information contained herein be relied upon in connection with such due diligence. CBC Advisors has not made any investigation, and makes no warranty or representation, with respect to any aspect of the subject property or business, including but not limited 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 the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, CBC Advisors has not verified, and will not verify, any of the information contained herein, nor has CBC Advisors conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein and nothing contained herein is intended to be relied upon in any manner in connection with the purchase of the subject property.

CBC Advisors is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of CBC Advisors, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of CBC Advisors, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

NON-ENDORSEMENT NOTICE

SECTIONS

406 S Coronado Street, Los Angeles, CA 90057

406

I PROPERTY DESCRIPTION

II FINANCIAL ANALYSIS

South Coronado Street,


I. PROPERTY DESCRIPTION



PROPERTY INFORMATIONPROPERTY INFORMATION

Property Address

406 South Coronado Street,


Assessor’s Parcel Number 5155-031-017

Land Use Apartments

Buildings 1

Stories 2

Zoning LAR3

Year Built 1931

SITE DESCRIPTION

Units 12

Rentable Square Feet 6,250

Lot Size (SF) 7,732

Parking None

UTILITIES

Water Master Metered - LADWP

Sewer Master Metered - LADWP

Electric Separately Metered - LADWP

Gas Master Metered - SoCal Gas

CONSTRUCTION

Framing Wood

Exterior Stucco

Roof Flat


PROPERTY PHOTOS


PROPERTY PHOTOS

REGIONAL MAP

LOCATION MAP



AERIAL VIEW

II. FINANCIAL ANALYSIS


CURRENT MARKET

Unit No. Status Unit Type Monthly Rent Annual Rent Monthly Rent Annual Rent Comments

101 Occupied Studio 1 Bath $1,050 $12,600 $1,200 $14,400

102 Occupied Studio 1 Bath $1,200 $14,400 $1,200 $14,400 Delivered Vacant

103 Occupied Studio 1 Bath $995 $11,940 $1,200 $14,400






203 Occupied Studio 1 Bath $1,095 $13,140 $1,200 $14,400




TOTAL $12,065 $144,773 $14,400 $172,800

RENT ROLL

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. © 2018 CBC Advisors

*Some units include $3.61/month for SCEP fee in monthly rent.


Income Current Per Unit Pro Forma Per Unit

Scheduled Rent Income $144,773 $12,064 $172,800 $14,400

Other Income $0 $0 $0 $0

GROSS POTENTIAL INCOME $144,773 $12,064 $172,800 $14,400

Vacancy/Collection Allowance (GPR) 5.0% / $9,324 $777 5.0% / $8,640 $720

EFFECTIVE GROSS INCOME $135,449 $11,287 $164,160 $13,680

Expenses

Taxes (1.25%) $22,488 $1,874 $22,488 $1,874

Insurance (2017) $3,324 $277 $3,324 $277

Utilities (2017) $8,189 $682 $8,189 $682

Repairs & Maintenance (6% of EGI) $8,127 $677 $9,850 $821

On-Site Management (None) $0 $0 $0 $0

Off-Site Management Fee (5% of EGI) $6,772 $564 $8,208 $684

Trash (Actual) $4,877 $406 $4,877 $406

Gardener/Janitorial ($200/month) $2,400 $200 $2,400 $200

Pest Control (Actual) $720 $60 $675 $56

Miscellaneous ($100/unit) $1,200 $100 $1,200 $100

Reserves & Replacements ($200/unit) $2,400 $200 $2,400 $200

TOTAL EXPENSES $60,497 $5,041 $63,655 $5,305

Expenses per SF $9.68 $10.18

Expenses per Unit $5,041 $5,305

% of EGI 44.7% 38.8%

NET OPERATING INCOME $74,953 $100,505

INCOME & EXPENSE

NOTES: Some Expenses Are Estimated

*Some units include $3.61/month for SCEP fee in monthly rent.

Total Number of Units: 12Total Rentable area: 6,250 SF


Annualized Income & Expense

Current Pro Forma

INCOME

Scheduled Rent Income $144,773 $172,800

Other Income $0 $0

Scheduled Gross Income $144,773 $172,800

Less: Vacancy/Other Deductions 5.0% $9,324 5.0% $8,640

Effective Gross Income $135,449 $164,160

Less: Operating Expenses 44.0% $60,497 38.8% $63,655

Net Operating Income $74,953 $100,505

Debt Service ($62,658) ($62,658)

Pre-Tax Cash Flow 1.67% $12,295 5.13% $37,874

Principal Reduction ($17,894) ($17,894)

Total Return Before Taxes 4.09% $30,189 7.56% $55,741

CURRENT MARKET

Unit Mix # of Units Average RentMonthlyIncome

Average RentMonthlyIncome

Studio / 1 Bath 12 $1,005 $12,064 $1,200 $14,400

Current Occupancy: 100% Annual Current: $144,773 Annual Market: $172,800

Annualized Expenses

Operating Expenses Current Pro Forma

Taxes (1.25%) $22,488 $22,488

Insurance (2016 Actual) $3,324 $3,324

Utilities (2016 Actual) $8,189 $8,189

Repairs & Maintenance (6% of EGI) $8,127 $9,850

On-Site Management (None) $0 $0

Off-Site Management Fee (5% of EGI) $6,772 $8,208

Trash (2017) $4,877 $4,877

Gardener/Janitorial ($200/month) $2,400 $2,400

Pest Control (Actual) $720 $720

Miscellaneous ($100/unit) $1,200 $1,200

Reserves & Replacements ($200/unit) $2,400 $2,400

Total Expenses: $60,497 $63,655

Total Expenses per Unit: $5,041 $5,305

Total Expenses per Sq. Ft.: $9.68 $10.18

Property Information

Address 406 S Coronado Street


No. of Units 12

Year Built 1931

APN 5155-031-017

Lot Size (SF) 7,732

Lot Size (AC) 0.18

Net Rentable SF: 6,250

Financing

Loan Amount $1,061,410

Interest Rate 4.25%

Monthly Payment $5,221.50

Loan-to-Value 59%

Amortization (Years) 30

Debt Service Coverage Ratio 1.25

Term 30 Years

I/O Period (Years) 5 Years Fixed

Price $1,799,000Down 41.0% $737,590

Current Cap 4.17%

Pro Forma Cap 5.59%

Price/Unit $149,917

Price/SF $287.84

Current GRM 12.43

Pro Forma GRM 10.41

Ownership Fee Simple

FINANCIAL SUMMARY

*Some units include $3.61/month for SCEP fee in monthly rent.406 S Coronado Street, Los Angeles, CA 90057

Tom JonssonMulti-Family Investment Sales

Managing PrincipalOffice: (310) 593-9866Mobile: (310) 966-0122

Tom.Jonsson@cbcadvisors .comLicence #: CA 01755842

Documents

South Coronado Street, - LoopNet...A 12-Unit Apartment Opportunity 406 South Coronado Street, Los Angeles, CA 90057 William James Multi-Family Investment Sales Director Office: (310)