3-unit building for sale in san pedro...3-unit building for sale in san pedro 667 w 11th street san...

3-UNIT BUILDING FOR SALE IN SAN PEDRO667 W 11th Street

San Pedro, CA 90731-4111

Woody Stahl | (310) [email protected]

667 W 11th St, San Pedro

INVESTMENT SUMMARY

Investment Overview

Regional Map

AREA OVERVIEW

Local Map

City Overview

County Overview

Aerial Map

PROPERTY DESCRIPTION

Property Details

3D Map

FINANCIALS

Offering Summary

Net Income Statment

Rent Roll

Unit Mix

COMPARABLES

Sales Comparable Map

Sales Comparables

Rental Comparable Map

Rental Comparables

On Market Comparable Map

On Market Comparables

EXCLUSIVELY MARKETED BY :

Lyon Stahl Investment Real Estate

Brett Lyon(310) 425-9838

[email protected]

Lic. 01717818

Woody Stahl(310) 425-9838

[email protected]

Lic. 01399621


Investment Summary

667 W 11th StreetSan Pedro, California 90731-4111

The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.

Investment SummaryPriceCap RateNOIGRMUnitsOccupancyBuilding SizePrice per Square FootLand AreaOwnership

$950,000 5.12%

$48,617.00 13.42

3100.00%3,540 SF$268.36

6,751 SF Fee Simple

Investment Highlights

Well-maintained & recently renovated 3-unit building●

3,540 SF building situated on 6,751 SF of land●

Desirable unit mix consisting of (1) 4-bed/2-bath & (2) 2-bed/1-bath units●

Operating at a 5.12% CAP & 13.42 GRM | Pro Forma 6.50% CAP - 11.23●

GRMFeatures a large driveway, 3-car garage, and large balcony●

Market rent potential to increase rents nearly 20%●

Investment Description

Lyon | Stahl is pleased to present 667 W 11th St, a 3-unit apartment buildinglocated in San Pedro, CA. This well-maintained property is situated on 6,751SF of land and boasts an excellent unit mix consisting of one (1) 4-bed/2-bathand two (2) 2-bed/1-bath units for a total of 3,540 SF of living space. Locatedjust blocks from the ocean, this property features a 3-car garage in back, alarge driveway for additional parking, beautifully renovated units, and largebalcony overlooking the backyard. Currently, fully leased out, this property stillhas the ability to increase by almost 20% in market rent potential, making it anincredible investment for an investor looking to acquire stable assets.


Investment Summary



Regional Map


Area Overview



Local Map


Area Overview



Area Overview

County OverviewThe most heavily populated county in the country is Los Angeles County withapproximately 9.9 million people, including about 1 million that live inunincorporated areas of the county. The metropolis - formed by the sixneighboring counties of Los Angeles, Ventura, Kern, San Bernardino,Riverside, and Orange - is home to approximately 19 million residents. LosAngeles County is home to one of the most educated labor pools in thecountry and offers a labor force of more than 4.7 million, of which more than1.5 million are college graduates. Los Angeles County has the largestpopulation of any county in the nation, exceeded only by eight states.According to the United States Conference of Mayors, Los Angeles Countyboasts a GDP among the twenty largest in the world. Los Angeles County’scontinued economic growth, in contrast to other areas of the state and nation,is due to its diversified economy and abundant, well-trained workforce.

Los Angeles County is well located on the Southern Coast of the California,and covers 4,061 square miles, including the San Clemente and SantaCatalina islands. The County is comprised of approximately 88 vibrant anddiverse cities hosting more than 244,000 business establishments— thegreatest concentration in the state. Los Angeles County has a Gross DomesticProduct (GDP) of approximately $446 billion - placing it among the top 20economies in the world. The combined GDP of Los Angeles and its five

surrounding neighboring counties places it in the top 10. California is generallyconsidered to be in the top five.

If Los Angeles County were its own nation, its economy would be the 18thlargest in the world. It is home to more than 244,000 businesses, with moreminority and women owned businesses than any other in the nation and is thenation’s top international trade center and manufacturing center. Los Angelesis recognized worldwide as a leader in entertainment, health sciences,business services, aerospace and international trade. Because the LosAngeles area is so large and diverse, it has something to offer to everyone.While Hollywood and the Los Angeles beach culture are part of our collectiveimage of Los Angeles, the city also has more museums than any other cityand some of the best hotels in the world are located in Los Angeles.

Over the years, Los Angeles County has developed a diverse economic base,supported by a number of Fortune 500 companies with headquarters in thearea, including Hilton Hotels, Walt Disney, Occidental Petroleum, DirecTVGroup, Northrop Grumman, Computer Sciences, KB Home, Health Net, Mattel,and Avery Dennison. Key factors positively impacting the region’s economicposition include increased local media production by the entertainmentindustry and a continuing expansion of import flows. Moreover, growth inaerospace, homeland security and in the private business sector havecontributed positively to the County's economy. Los Angeles' well educatedlabor pool, many universities, wonderful climate, and world class infrastructurewill enable Greater Los Angeles to continue to be a world leader in economicand cultural significance.County Highlights

Los Angeles County is the world’s 18th largest economy.●

Los Angeles part of the "Tech Coast" and is regarded as the of the main●

entrepreneurial regions of the world. It has approximately 200,000 smallbusinesses, which is twice as many small businesses as can be found in anyother region of the United States.If Los Angeles' five county area were a state, it would be the fourth largest in●

the United States.Los Angeles has more than 80 stage theaters and 300 museums, more than●

any other U.S city.


Area Overview



Aerial Map


Property Description



Property DetailsAddress 667 W 11th Street

San Pedro, California90731-4111

Square Footage 3,540 SFLand Area 6,751 SFYear Built 1922Assessors Parcel Number 7454018004Zoning LARD1.5Number of Buildings 1Number of Stories 1Parking 3


Financials



Financial

Offering Summary

PriceBuilding SizeOwnershipLand AreaNumber of UnitsNumber of StoriesYear BuiltParkingOccupancy

$950,000 3,540 SF

Fee Simple 6,751 SF

31

19223

100.00%

Price per Unit $316,666.67Price per Square Foot $268.36Current CAP Rate 5.12%Pro Forma Cap Rate 6.50%Current GRM 13.42Pro Forma GRM 11.23NOI $48,617Pro Forma NOI $61,727

FinancingLoan Type New/ProposedLoan Amount $665,000Down Payment $285,000Interest Rate 4.75%Amortization Period 30 YearsAnnual Payment $41,627


Financials



Net Income Statement

Current AnnualIncome

Proforma AnnualIncome

REVENUESGross Potential Rent $70,800 $84,600Less: Vacancy Rate Reserve 3,540 4,230

Effective Gross Income $67,260 $80,370

OPERATING EXPENSESReal Estate Taxes 11,680 11,680Insurance 1,239 1,239Utilities 2,400 2,400Landscaping 1,200 1,200Maintenance 2,124 2,124

TOTAL EXPENSES $18,643 $18,643

NET OPERATING INCOME $48,617 $61,727

Debt Service $41,627 $41,627NET CASH FLOW AFTER DEBT SERVICE $6,990 $20,100

Principal Reduction $10,261 $10,261TOTAL RETURN 6.05% 10.65%Expenses Per SF $5.27 $5.27% of EGI 27.72% 23.20%


Financials



Rent Roll

Unit Information Lease Rental Rates

Unit No Unit TypeApp. SquareFootage

Status Move In DateCurrentMonthly Rent

PSFPro FormaMonthly Rent

PSF Loss to Lease

4 BR 2 BTH - Occupied -- -- ---- $ 2,550.00 - $ 2,950.00 - $ 400.00

2 BR 1 BTH - Occupied -- -- ---- $ 1,700.00 - $ 2,050.00 - $ 350.00

2 BR 1 BTH - Occupied -- -- ---- $ 1,650.00 - $ 2,050.00 - $ 400.00

3 Units TOTALS 0 Occ:3Vac:0 $5,900.00 $7,050.00 $1,150.00

Unit Mix

Unit Info Occupancy Square Footage Current Monthly Rent Pro Forma Monthly Rent

Numberof Units

Unit Type Occ Vac % OccAverageUnit SF

Total UnitSF

AVG Low High TotalAVGPSF

AVG TotalAVGPSF

VacancyLoss

1 4 BR 2 BTH 1 0 100% - - $ 2,550 $ 2,550 $ 2,550 $2,550 $2,950

2 2 BR 1 BTH 2 0 100% - - $ 1,675 $ 1,650 $ 1,700 $3,350

- $2,950

- $2,050 $4,100

3 TOTALS 3 0 100.00% 0 SF $5,900 $7,050

- $0

- $0

$0


Comparables



Sales Comparable Map


Comparables



Sales Comparables

Photos Address

Sale PriceSale DateTotal UnitsPrice Per Unit

Total SF$/SFCAPGRM

Unit MixYear BuiltLand AreaDays on Market

667 W 11th StreetSan Pedro, California90731-4111

$950,000N/A3316,667

3,540 SF$2685.12 %13.42

(1) 4BR + 2BTH(2) 2BR + 1BTH

19226,751 SFN/A

-

364 W 15th StSan Pedro, CA90731

$985,00006/15/20183$328,333

3,460 SF$2856.06 %13.80

(1) 4-bed/3-bath(2) 2-bed/2-bath

19875,001 SF13


$92,00003/06/20183$30,667

3,600 SF$267.00 %11.15


19905,000 SF20

1101 S Palos Verdes StSan Pedro, CA90731

$848,50007/19/20183$282,833

3,382 SF$2515.06 %16.07


19785,052 SF7


Comparables



Photos Address

Sale PriceSale DateTotal UnitsPrice Per Unit

Total SF$/SFCAPGRM

Unit MixYear BuiltLand AreaDays on Market

2004 S Grand AveSan Pedro, CA90731

$932,50011/17/20174$233,125

3,330 SF$2806.00 %12.56


19584,503 SF31


$729,00011/01/20174$182,250

2,646 SF$2766.20 %15.23


19536,751 SF43

Averages

$717,400-3$211,442

3,284 SF$2236.06 %13.76


Comparables



Rental Comparable Map


Comparables



Rental Comparables

Photos AddressDate Surveyed

Total UnitsYear BuiltBldg SFOccupancy

Units Types Avg Unit SF Avg Unit Rent Avg Rent Per SF


319223,540 SF100.00%

4 BR / 2 BTH2 BR / 1 BTH

--

$2,550$1,675

--

947 Gatun StSan Pedro, CA9073102/11/2018

-1963--

4BR /2BTH 2,020 SF $3,500 $1.73

Notes Single family residence (SFR) not an apartment

1529 W 15th StSan Pedro, CA9073209/21/2017

-1928--

4BR /2BTH 2,522 SF $3,600 $1.43

Notes Single family residence (SFR) not an apartment

1729 S Alma StSan Pedro, CA9073106/26/2018

-1964--

2BR /1BTH 1,050 SF $2,000 $1.90

Notes Unit #3


Comparables



Photos AddressDate Surveyed

Total UnitsYear BuiltBldg SFOccupancy

Units Types Avg Unit SF Avg Unit Rent Avg Rent Per SF

2621 Alma StSan Pedro, CA9073106/30/2018

-1956--

2BR /1BTH 860 SF $2,000 $2.33

1329 W 13th StSan Pedro, CA9073208/10/2018

-1930--

2BR /1BTH 994 SF $2,100 $2.11

804 S Leland StSan Pedro, CA90731-

-1987--

4BR /3BTH 1,800 SF $3,000 $1.67

Notes Currently on market - Apartments.com

Averages -- 1,541 SF $ 2,700 $ 1.86


Comparables



On Market Comparable Map


Comparables



On Market Comparables

Photos AddressSale PriceTotal UnitsPrice Per Unit

Total SF$/SFCAPGRM

Unit Mix Year BuiltLand Area


$950,0003$ 316,667

3,540 SF$2685.12 %13.42

(1) 4BR + 2BTH(2) 2BR + 1BTH

19226,751 SF

-

1311 S Palos Verdes StSan Pedro, CA90731

$1,250,0003$416,667

4,378 SF$286--

(3) 3-bed/2-bath19894,500 SF


$1,425,0004$356,250

4,898 SF$2915.19 %15.42

(1) 1-bed/1-bath(2) 2-bed/1-bath(1) 4-bed/2-bath

19805,003 SF


$899,9994$225,000

3,104 SF$2906.00 %13.11

(4) 2-bed/1-bath19064,801 SF

Averages$1,191,6664$332,639

4,127 SF$2895.60 %14.27

CONFIDENTIALITY AND DISCLAIMER

The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictly confidential; it is intended to be reviewed only by the party receiving it from Broker and should notbe made available to anyone else without the written consent of Broker. By retention or use of this Memorandum, you agree that its contents are confidential, that you will hold it in the strictestconfidence, and that you will not disclose any of its contents contrary to these terms.

This Memorandum has been prepared to provide summary, unverified information to establish a preliminary level of interest in the subject property (“Property”). The information in this Memorandumhas been obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever including but not limitedto the accuracy or completeness of the information, veracity or accuracy of the information, condition of the Property or its compliance or lack of compliance with applicable governmentalrequirements, developability, suitability or financial performance of the Property, income or expenses for the Property, the size and square footage of the Property and improvements, the presence orabsence of contaminating substances, PCB’s or asbestos, the compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition or businessprospects of any tenant or any tenant’s plans or intentions to continue occupancy of the Property. The Memorandum has selected information relating to the Property and does not purport to be an all- inclusive representation regarding the Property or to contain all or part of the information which prospective investors may require to evaluate the purchase of the Property. Additional information andan opportunity to investigate the Property will be made available to interested and qualified prospective purchasers. All information is based on assumptions relating to the general economy, marketconditions, competition and other factors beyond the control of Broker, therefore, all information is subject to material variation. The information contained herein is not a substitute for a thorough duediligence investigation. Interested parties are expected to review all information of whatever nature independently and not rely on the contents of this Memorandum in any manner.

The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offers to purchase the Property, and/or to terminate discussions at any time with or without notice.The Owner shall have no legal commitment or obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any conditions to the Owner’sobligations therein have been satisfied or waived.

Exclusively Marketed By:

Lyon Stahl Investment Real Estate

Woody Stahl

(310) 710-3829

[email protected]

Brett Lyon

(310) 780-1899

[email protected]

3-unit building for sale in san pedro...3-unit building for sale in san pedro 667 w 11th street san...

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