4 units vista · 2020-07-16 · 4 units contents we obtained the following information above from...

4 Units | 832-834 Eucalyptus, Vista , CA, 92084

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4 Units Vista

4 Units CONTENTS

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.

01 Executive Summary Investment Summary 5 Unit Mix Summary 6 Location Summary 7

02 Property Description Property Features 9 Aerial Map 10 Property Images 11

03 Financial Analysis Income & Expense Analysis 34 Cash Flow Analysis 35 4U Eucalyptus Ave VISTA $900k 37

04 Demographics Demographics 39 Demographic Charts 41

Exclusively Marketed by:

Jeff DillerSenior Associate619-501-9070License # BRE# [email protected]


Abe PeaySenior Associate858-284-0371License # BRE#01935689

[email protected]

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from South Coast Commercial Inc.and it should not be made available to any other person or entity without the written consent of South Coast Commercial Inc..

By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees thatrecipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to South CoastCommercial Inc.. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property.

The information contained herein is not a substitute for a thorough due diligence investigation. South Coast Commercial Inc. has not made any investigation, and makes no warranty orrepresentation 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 andimprovements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvementsthereon, or 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 offering memorandum has been obtained from sources we believe reliable; however, South Coast Commercial Inc. has not verified, and will not verify, any of theinformation contained herein, nor has South Coast Commercial Inc. conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding theaccuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsiblefor their costs and expenses of investigating the subject property.

4 Units Confidentiality and Disclaimer | 03

CONFIDENTIALITY AND DISCLAIMER

PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT SOUTH COAST COMMERCIAL INC. FOR MORE DETAILS.Copyright © 2020 CREOP, LLC. All Rights Reserved.

4 Units | Executive Sum

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Executive Summary 4 U

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Investment Summary

Unit Mix Summary

Location Summary

4 Units Investment Summary | 05

OFFERING SUMMARYADDRESS 832-834 Eucalyptus

Vista CA 92084COUNTY San DiegoMARKET San DiegoSUBMARKET VistaBUILDING SF 3,012 SFLAND SF 10,135NUMBER OF UNITS 4YEAR BUILT 1958 & 1971OWNERSHIP TYPE Fee Simple

FINANCIAL SUMMARYOFFERING PRICE $900,000PRICE PSF $298.80PRICE PER UNIT $225,000OCCUPANCY 97.00 %NOI (CURRENT) $43,722NOI (Pro Forma) $62,493CAP RATE (CURRENT) 4.86 %CAP RATE (Pro Forma) 6.94 %GRM (CURRENT) 13.01GRM (Pro Forma) 10.17

PROPOSED FINANCINGLOAN TYPE AmortizedDOWN PAYMENT $250,000LOAN AMOUNT $650,000INTEREST RATE 3.75 %ANNUAL DEBT SERVICE $36,122LOAN TO VALUE 72 %AMORTIZATION PERIOD 30 Years

DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2019 Population 21,348 121,131 234,2442019 Median HH Income $57,225 $67,426 $73,8682019 Average HH Income $75,975 $88,198 $96,151

We are pleased to present 832-834 Eucalyptus Avenue, a (4) Unit Investment property that consists of (2) Two Bedroom / One Bath Units and (2) One Bedroom / One Bath Units located on two parcels totaling 10,135 SF. This property is advantageously located walking distance to the Civic Center Park and is a quick drive to Downtown Vista which hosts numerous restaurants, entertainment, and local services. One of these units is detached from the main structure and the other 3 units have private fenced backyards. There is a shared laundry area for units that do not have washer dryer hookups. Off Street parking available for all tenants here. Do not miss this opportunity to renovate and capture strong market rents.

DO NOT DISTURB TENANTS.

4 Units Unit Mix Summary | 06

Unit Mix # Units Current Rent Monthly Income Market Rent Market Income2 bd + 1 ba 2 $1,100 $2,200 $1,650 $3,3001 bd + 1 ba 1 $950 $950 $1,275 $1,2751 bd + 1 ba 1 $1,600 $1,600 $1,700 $1,7001 bd + 1 ba 0 $1,015 $0 $1,100 $0

Totals/Averages 4 $1,166 $4,750 $1,431 $6,275

4 Units Location Summary | 07

• Located just seven miles inland from the Pacific Ocean in northern San Diego County, the City of Vista has a perfect mild Mediterranean climate. Residents enjoy a wide range of year-round outdoor activities in a setting of gentle rolling hills and pleasant rural surroundings.

• Vista is a thriving community that continues to grow and develop many new activities and attractions. The Moonlight Amphitheatre, AVO Playhouse, and the Wave Waterpark are just some of the many cultural activities the city offers Vista residents. Vista's Business Park is home to over 800 companies, with many global businesses relocating their headquarters, manufacturing, distribution and marketing facilities to this business park. In addition, Vista Village has brought revitalization to the downtown with dining, entertainment, shopping, and public amenities.

Regional Map

Locator Map

4 Units | Property D

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Property Description 4 U

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Property Features

Aerial Map

Parcel Map

Additional Maps

Pictures with Captions

4 Units Property Features | 09

PROPERTY FEATURESNUMBER OF UNITS 4BUILDING SF 3,012LAND SF 10,135YEAR BUILT 1958 & 1971# OF PARCELS 2TOPOGRAPHY FlatNUMBER OF STORIES 1 & 2NUMBER OF BUILDINGS 2PARKING RATIO 1:1

UTILITIESWATER OwnerTRASH OwnerGAS TenantELECTRIC Tenant

CONSTRUCTIONFOUNDATION SlabFRAMING WoodEXTERIOR StuccoPARKING SURFACE AsphaltROOF CompositeLANDSCAPING Mature

4 Units Aerial Map | 10

4 Units Property Images | 11

4 Units | Financial A

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Financial Analysis 4 U

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Income & Expense

Multiyear Cash Flow Projections

4U Eucalyptus Ave VISTA $900k

4 Units Income & Expense Analysis | 34

INCOME CURRENT PRO FORMA

Gross Potential Rent $57,000 $75,300

Boot $12,180 $13,200

Gross Potential Income $69,180 $88,500

Less: General Vacancy $1,710 $2,259

Effective Gross Income $67,470 $86,241

Less: Expenses $23,748 $23,748

Net Operating Income $43,722 $62,493

Annual Debt Service $36,122 $36,122

Debt Coverage Ratio 1.21 1.73

Cash Flow After Debt Service $7,600 $26,371

Principal Reduction $11,747 $11,747

Total Return 7.7 % $19,347 15.2 % $38,118

EXPENSES CURRENT PRO FORMA

Water & Sewer $480 $1,920 $480 $1,920

Trash Removal $183 $732 $183 $732

Maintenance $600 $2,400 $600 $2,400

Pest Control $75 $300 $75 $300

Landscaping $300 $1,200 $300 $1,200

Management $1,007 $4,026 $1,007 $4,026

Insurance $525 $2,100 $525 $2,100

Taxes $2,768 $11,070 $2,768 $11,070

Total Operating Expense $5,937 $23,748 $5,937 $23,748

Annual Debt Service $9,030 $36,122 $9,030 $36,122

Expense / SF $7.88 $7.88

% of EGI 35.20 % 27.54 %

Per Unit Per Unit

REVENUE ALLOCATIONCURRENT

DISTRIBUTION OF EXPENSESCURRENT

4 Units Cash Flow Analysis | 35

CASH FLOWCalendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Gross Potential RevenueGross Rental Income $57,000 $75,300 $79,065 $83,018 $87,169 $91,528 $96,104 $100,909 $105,955 $111,252Boot $12,180 $13,200 $13,860 $14,553 $15,281 $16,045 $16,847 $17,689 $18,574 $19,502Gross Potential Income $69,180 $88,500 $92,925 $97,571 $102,450 $107,572 $112,951 $118,598 $124,528 $130,755General Vacancy $1,710 $2,259 $2,372 $2,491 $2,615 $2,746 $2,883 $3,027 $3,179 $3,338Effective Gross Income $67,470 $86,241 $90,553 $95,081 $99,835 $104,826 $110,068 $115,571 $121,350 $127,417Operating ExpensesWater & Sewer $1,920 $1,920 $1,978 $2,037 $2,098 $2,161 $2,226 $2,293 $2,361 $2,432Trash Removal $732 $732 $732 $732 $732 $732 $732 $732 $732 $732Maintenance $2,400 $2,400 $2,472 $2,546 $2,623 $2,701 $2,782 $2,866 $2,952 $3,040Pest Control $300 $300 $309 $318 $328 $338 $348 $358 $369 $380Landscaping $1,200 $1,200 $1,236 $1,273 $1,311 $1,351 $1,391 $1,433 $1,476 $1,520Management $4,026 $4,026 $4,147 $4,271 $4,399 $4,531 $4,667 $4,807 $4,951 $5,100Insurance $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100Taxes $11,070 $11,070 $11,070 $11,070 $11,070 $11,070 $11,070 $11,070 $11,070 $11,070Total Operating Expense $23,748 $23,748 $24,043 $24,348 $24,661 $24,984 $25,316 $25,659 $26,011 $26,375Net Operating Income $43,722 $62,493 $66,510 $70,733 $75,174 $79,843 $84,752 $89,913 $95,338 $101,043Annual Debt Service $36,122 $36,122 $36,122 $36,122 $36,122 $36,122 $36,122 $36,122 $36,122 $36,122Cash Flow $7,600 $26,371 $30,388 $34,611 $39,052 $43,721 $48,630 $53,791 $59,217 $64,921

Effective Gross Income vs Operating Expenses Cash Flow

4 Units Cash Flow Analysis | 36

Calendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Financial MetricsCash on Cash Return b/t 3.04 % 10.55 % 12.15 % 13.84 % 15.62 % 17.49 % 19.45 % 21.51 % 23.68 % 25.97 %CAP Rate 4.86 % 6.94 % 7.39 % 7.86 % 8.35 % 8.87 % 9.42 % 9.99 % 10.59 % 11.23 %Debt Coverage Ratio 1.21 1.73 1.84 1.96 2.08 2.21 2.35 2.49 2.64 2.80Operating Expense Ratio 35.19 % 27.53 % 26.55 % 25.60 % 24.70 % 23.83 % 23.00 % 22.20 % 21.43 % 20.69 %Gross Multiplier (GRM) 13.01 10.17 9.69 9.22 8.78 8.37 7.97 7.59 7.23 6.88Loan to Value 72.25 % 70.85 % 69.50 % 68.07 % 66.55 % 65.01 % 63.44 % 61.75 % 60.00 % 58.24 %Breakeven Ratio 88.74 % 69.42 % 66.44 % 63.60 % 60.88 % 58.29 % 55.82 % 53.46 % 51.20 % 49.05 %Price / SF $298.80 $298.80 $298.80 $298.80 $298.80 $298.80 $298.80 $298.80 $298.80 $298.80Price / Unit $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000Income / SF $22.40 $28.63 $30.06 $31.56 $33.14 $34.80 $36.54 $38.37 $40.28 $42.30Expense / SF $7.88 $7.88 $7.98 $8.08 $8.18 $8.29 $8.40 $8.51 $8.63 $8.75

# Units Zip

4 92084

Current Market Current Market13.0 10.2 5.0% 7.0%

Gross Sq. Ft. Parcel Size(Approx.) (Approx.) (Approx.)$298.80 3,012 10,135

# Units Type Rent TotalRent Range Gas & Electric $0 Management $4,026

Water & Sewer $1,920 Insurance $2,1002 2Bed/1Bath $1,100 $2,200 Trash Removal $732 Taxes $11,0701 1Bed/1Bath $950 $950 Maintenance $2,4001 1Bed/1Bath SFR 1,600.00$ 1,600.00$ Pest $3001 1Br/1Ba boot $1,015.0 $1,015 Landscaping 1,200$

Total Monthly Income $5,765

Total Annual Operating Expenses (estimated): $22,548

2 2Bed/1Bath $1,650 $3,300 Expenses Per: Unit $5,6371 1Bed/1Bath $1,275 $1,275 % of Actual GSI 33%1 1Bed/1Bath SFR 1,700.00$ 1,700.00$ 1 1Br/1Ba boot $1,100.0 $1,100

Total Monthly Income $7,375Estimated Annual Operating Proforma Financing Summary

Actual MarketGross Scheduled Income $69,180 $88,500 Downpayment: $250,000Less: Vacancy Factor 3% $2,075 $2,655 28%Gross Operating Income $67,105 $85,845 Interest Rate: 3.750%Less: Expenses 33% $22,548 $22,548 Amortized over: 30 YearsNet Operating Income $44,556 $63,297 Proposed Loan Amount: $650,000

Less: 1st TD Payments ($36,123) ($36,123) Debt Coverage Ratio:Current: 1.23

Pre-Tax Cash Flow $8,433 $27,174 Market: 1.75Cash On Cash Return 3.4% 10.9%Principal Reduction $11,748 $11,748Total Potential Return (End of Year One) 8.1% 15.6%

The information contained herein has been obtained from sources believed reliable. While South Coast Commercial does not doubt its accuracy, we have not verified it and make no guarantee,

warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for

example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax, financial and legal advisors. You and your

Map Code

$900,000

Address CityVista

GRM CAP Rate$/UnitPrice

APARTMENT INVESTMENT INFORMATION

advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Comments

Estimated Annual Operating Expenses

Yr. Built(Approx.)

1958 & 1971

832-834 Eucalyptus

$/Square Foot

$225,000.00

Estimated Market Rents

Estimated Actual Average Rents

4 Units 4U Eucalyptus Ave VISTA $900k | 37

4 Units | D

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Demographics 4 U

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Demographic Details

Demographic Charts

4 Units Demographics | 39

POPULATION 1 MILE 3 MILE 5 MILE

2000 Population 21,019 108,475 199,958

2010 Population 20,480 112,590 218,226

2019 Population 21,348 121,131 234,244

2024 Population 22,586 126,792 243,200

2019 African American 633 3,922 8,103

2019 American Indian 287 1,302 2,084

2019 Asian 541 5,576 16,084

2019 Hispanic 12,882 58,712 100,825

2019 Other Race 6,206 26,419 45,947

2019 White 12,347 76,096 146,436

2019 Multiracial 1,224 6,996 13,865

2019-2024: Population: Growth Rate 5.65 % 4.60 % 3.75 %

2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE

less than $15,000 479 3,077 6,232

$15,000-$24,999 508 2,493 4,747

$25,000-$34,999 678 3,625 6,154

$35,000-$49,999 832 4,555 8,357

$50,000-$74,999 1,364 7,245 13,582

$75,000-$99,999 792 5,595 10,615

$100,000-$149,999 805 6,382 13,573

$150,000-$199,999 349 3,364 7,847

$200,000 or greater 245 2,318 6,160

Median HH Income $57,225 $67,426 $73,868

Average HH Income $75,975 $88,198 $96,151

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2000 Total Housing 6,258 36,679 69,362

2010 Total Households 5,876 36,204 72,328



2019 Average Household Size 3.47 3.07 2.99

2000 Owner Occupied Housing 2,902 20,957 43,399

2000 Renter Occupied Housing 3,147 14,586 23,731



2019 Vacant Housing 268 1,774 3,513

2019 Total Housing 6,321 40,428 80,780



2024 Vacant Housing 277 1,820 3,662

2024 Total Housing 6,667 42,081 83,574

2019-2024: Households: Growth Rate 5.45 % 4.10 % 3.40 %

Source: esri

4 Units Demographics | 40

2019 POPULATION BY AGE 1 MILE 3 MILE 5 MILE

2019 Population Age 30-34 1,742 10,611 19,536

2019 Population Age 35-39 1,521 8,734 16,476

2019 Population Age 40-44 1,247 7,032 13,859

2019 Population Age 45-49 1,203 6,750 13,340

2019 Population Age 50-54 1,186 6,905 13,741

2019 Population Age 55-59 1,197 7,232 14,429

2019 Population Age 60-64 1,012 6,618 13,139

2019 Population Age 65-69 744 5,270 10,726

2019 Population Age 70-74 493 3,815 8,210

2019 Population Age 75-79 309 2,583 5,783

2019 Population Age 80-84 226 1,817 4,176

2019 Population Age 85+ 253 2,394 5,804

2019 Population Age 18+ 15,450 92,376 179,427

2019 Median Age 31 34 36

2019 INCOME BY AGE 1 MILE 3 MILE 5 MILE

Median Household Income 25-34 $55,317 $64,469 $70,752

Average Household Income 25-34 $71,186 $82,700 $89,674









Average Household Income 75+ $57,656 $60,286 $63,292

2024 POPULATION BY AGE 1 MILE 3 MILE 5 MILE

2024 Population Age 30-34 1,942 10,068 19,440

2024 Population Age 35-39 1,733 10,423 19,865

2024 Population Age 40-44 1,517 8,781 16,584

2024 Population Age 45-49 1,240 7,054 13,670

2024 Population Age 50-54 1,181 6,617 12,962

2024 Population Age 55-59 1,157 6,710 13,260

2024 Population Age 60-64 1,122 6,884 13,703

2024 Population Age 65-69 941 6,061 12,278

2024 Population Age 70-74 686 4,776 9,921

2024 Population Age 75-79 454 3,507 7,595

2024 Population Age 80-84 264 2,170 4,891

2024 Population Age 85+ 274 2,464 5,808

2024 Population Age 18+ 16,649 97,349 187,657

2024 Median Age 33 36 37

2024 INCOME BY AGE 1 MILE 3 MILE 5 MILE











Average Household Income 75+ $64,818 $68,684 $72,033

4 Units Demographic Charts | 41

1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Household Income

1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Population by Race

4 Units Demographic Charts | 42

2019 Household Occupancy - 1 Mile Radius

Average Income Median Income

2019 Household Income Average and Median

4 Units Vista

powered by CREOP

License # BRE#[email protected]

858-284-0371


Abe PeaySenior Associate


Jeff DillerSenior Associate619-501-9070License # BRE# [email protected]

4 units vista · 2020-07-16 · 4 units contents we obtained the following information above from...

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