For SALE1642 Echo Park AvenueLos Angeles, CA 90026
D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403
David B. Kaufman
C: (310) 877-8600
DRE Lic #01217537
$1,750,000
$0
3.50%
30
$0
N/A
112,823
(2,256) 2.0% 5.0%
110,567
(38,690) 34.3% 33.5%
71,876
-
71,876 4.1% * 4.1% *
-
71,876 4.1% * 4.1% *
1.23%
5%
2 1+1+Den 700 $2060-$2,250 2,250$ Contract Services
2 2+1 800 $2,523-$2,550 2,550$ 3%
Reserves 1%
Total Scheduled Rent:
Laundry & Other:
Misc: Total Expenses: 38,690$
Monthly Scheduled Gross Income: Per Net Sq. Ft.: 12.88$
Annual Scheduled Rent: Per Unit: 9,673$
Annual Scheduled Gross Income:
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.
5,641$
3,125$
1,500$ Admin
4,500$
112,823$
14$
9,402$
9,600$
-$
112,655$ 115,200$
14$
9,614$
2,019$
21,525$ Taxes: Rate
1,764$
1,128$
115,368$
Maintenance
Approx. Gross (SF):
Cost per Net GSF:
CURRENT RENTS
9,388$
-$
70,909
1,988$
3,003
70,909
Insurance
Utilities
(38,690)
Scheduled Gross Income:
Less Vacancy Rate Reserve:
Gross Operating Income:
Less Expenses:
Net Operating Income:
Less Loan Payments:
Multi-Family Operating Information1642 Echo Park Avenue, Los Angeles, CA 90026
Price:
Down Payment:
Number of Units:
Cost per Legal Unit:
Current GRM:
100%
SUMMARY
$1,750,000
4
Market GRM:
Current CAP:
Charming Craftsman Style Fourplex in Trendy Echo Park
Neighborhood; Excellent Condition with Four Car Parking in
Rear
ANNUALIZED OPERATING DATA
Market CAP:
Year Built
4.05%
1911
5,687
DCR
SCHEDULED INCOME ESTIMATED ANNUALIZED EXPENSES
Pre-Tax Cash Flow:
Plus Principal Reduction:
Total Return Before Taxes:
-
70,909
-
No. of
Units
Bdrms/
Baths
Approx.
SF
Monthly Rent/
Unit
CURRENT RENTS MARKET RENTS
Montly
Rent/Unit
Monthly
Income
Monthly
Income
437,500$
15.51
15.17
4.11%
PROPOSED FINANCING
New First Loan:
Interest Rate:
Amortization
Monthly Payment:
5,100$
* As a percent of the down payment
Management fee
MARKET RENTS
115,368
(5,768)
109,600
Approx. Lot Size (SF):
$582.75
Financial Summary1642 Echo Park AvenueLos Angeles, CA 90026
2
D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403
2
Disclaimer: All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
UNIT NUMBER UNIT TYPE CURRENTRENT
MARKETRENT NOTES
1642 1/2 2+1 $2,527.11 $2,550.00
1642 1+1+Den $2,060.83 $2,250.00
1644 1+1+Den $2,250.00 $2,250.00
1644 1/2 2+1 $2,550.00 $2,550.00
TOTAL $9,387.94 $9,600.00
RENT ROLL
* Square footage is approximate.
UNIT MIX
1+1+Den 2
2+1 2
APT. AVG RENT/SF CURRENT
Monthly $ 3.12
Annual $ 38.36
33
Property Description1642 Echo Park AvenueLos Angeles, CA 90026
D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403
Disclaimer: All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
Number of Units 4
Year Built 1911
ApproximateGross SF 3,003 SF
Approximate Lot Size 5,687 SF
Zoning LARD1.5
Parking 4 car open spaces
Utilities Separately metered for electric & gas
Construction 2 story wood frame / stucco
Electrical / Plumbing & Roof Systems are functioning
SUMMARY
The subject property is a two-story Craftsman stylefourplex located in the Echo Park neighborhood in LosAngeles. The property is located just north of SunsetBoulevard and east of Alvarado in this up and comingneighborhood near Dodger Stadium. There are anumber of new construction projects in the market andtrendy retail that are improving the immediate area.
The property has been thoroughly renovated: red oakhardwood floors, new kitchen cabinets, granitecountertops, stainless steel appliances and designer twotone paint with crown and base moldings.
INVESTMENT HIGHLIGHTS
Charming Craftsman Style Fourplex
Very Good Mix of 2-(1+1+Dens) & 2-(2+1 baths)
Very Well Located with Other Apartments and Retail
Four Car Open Parking Plus Storage Shed
Separately Metered for Gas and Electric
Individual Water Heaters
Photos1642 Echo Park AvenueLos Angeles, CA 90026
D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403
4
Disclaimer: All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
Photos1642 Echo Park AvenueLos Angeles, CA 90026
D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403
5
Disclaimer: All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
Photos1642 Echo Park AvenueLos Angeles, CA 90026
D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403
6
Disclaimer: All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
Photos1642 Echo Park AvenueLos Angeles, CA 90026
D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403
7
Disclaimer: All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
Photos1642 Echo Park AvenueLos Angeles, CA 90026
D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403
8
Disclaimer: All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
Photos1642 Echo Park AvenueLos Angeles, CA 90026
D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403
9
Disclaimer: All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
1010
Maps1642 Echo Park AvenueLos Angeles, CA 90026
D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403
10
Disclaimer: All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
SUBJECT MAP
Source: www.google.com/maps
1111
Maps1642 Echo Park AvenueLos Angeles, CA 90026
D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403
11
Disclaimer: All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
PLAT MAP