7609-7615 s. vermont ave. · mini market 7611 810 1/15/2008 month-to-month $13,800 12.5 $17.04...

7609-7615 S. VERMONT AVE.7609-7615 S. Vermont Ave, Los Angeles, CA 90044

R E TR E TA I L P R O P E R T Y F O R SA I L P R O P E R T Y F O R S A L EA L E

RRooy Belsony Belson Director Of Commercial Sales | | CalDRE #01345852 | 818.449.7058 | [email protected]

RE/MARE/MAX CX COMMERCIALOMMERCIAL | EACH OFFICE INDEPENDENTLY OWNED AND OPERATED.6355 TOPANGA CANYON BLVD., WOODLAND HILLS, CA 91367 • 818.449.7042 (O) • INVESTMENT-PROPERTY.COM

| | 22

CC O N T E N TO N T E N T SS

CCONFIDENTIALITY & DISCLAIMERONFIDENTIALITY & DISCLAIMER

PROPERTY INFORMATION3

LOCATION INFORMATION8

FINANCIAL ANALYSIS13

SALE COMPARABLES17

DEMOGRAPHICS25

Al l mater ia ls and informat ion received or der ived from RE/MAX Commercia l i ts d i rectors , officers , agents , advisors , affil iates and/or any th i rd partysources are provided without representat ion or warranty as to completeness , verac i ty, or accuracy, condit ion of the property, compl iance or lack ofcompl iance with appl icable governmenta l requirements , developabi l i ty or su i tabi l i ty, financia l performance of the property, pro jected financia lperformance of the property for any party ’s intended use or any and a l l other matters .

Nei ther RE/MAX Commercia l i ts d i rectors , officers , agents , advisors , or affil iates makes any representat ion or warranty, express or impl ied , as toaccuracy or completeness of the any mater ia ls or informat ion provided, der ived, or rece ived. Mater ia ls and informat ion from any source, whetherwr i t ten or verbal , that may be furn ished for rev iew are not a subst i tute for a party ’s act ive conduct of i ts own due di l igence to determine these andother matters of s ign ificance to such party. RE/MAX Commercia l wi l l not invest igate or ver i fy any such matters or conduct due di l igence for a partyunless otherwise agreed in wr i t ing .

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DIL IGENCE.

Any party contemplat ing or under contract or in escrow for a transact ion is urged to ver i fy a l l in format ion and to conduct the i r own inspect ions andinvest igat ions inc luding through appropr iate th i rd party independent profess ionals se lected by such party. Al l financia l data should be ver ified bythe party inc luding by obta in ing and reading appl icable documents and reports and consul t ing appropr iate independent profess ionals . RE/MAXCommercia l makes no warrant ies and/or representat ions regarding the verac i ty, completeness , or re levance of any financia l data or assumpt ions . RE/MAX Commercia l does not serve as a financia l advisor to any party regarding any proposed transact ion . Al l data and assumpt ions regarding financia lperformance, inc luding that used for financia l model ing purposes , may differ from actual data or performance. Any est imates of market rents and/orprojected rents that may be provided to a party do not necessar i ly mean that rents can be establ ished at or increased to that leve l . Part ies mustevaluate any appl icable contractua l and governmenta l l imitat ions as wel l as market condit ions ,vacancy factors and other issues in order todetermine rents f rom or for the property.

Legal quest ions should be discussed by the party with an attorney. Tax quest ions should be discussed by the party with a cert ified publ icaccountant or tax attorney. Ti t le quest ions should be discussed by the party with a t i t le officer or attorney. Quest ions regarding the condit ion of theproperty and whether the property compl ies with appl icable governmenta l requirements should be discussed by the party with appropr iateengineers , arch i tects , contractors , other consul tants and governmenta l agencies . Al l propert ies and serv ices are marketed by RE/MAX Commercia l incompl iance with a l l appl icable fa i r hous ing and equal opportuni ty laws .

PROPERTY INFORMATIONSECTION 1

| | 33



| | 44

Great development opportunity in the heart of Los Angeles. The property islocated on 7609-7615 S. Vermont Ave. This 11,200 Sq. Ft. lot zoned LAC-2 isdirectly across from the Pointe on Vermont. The lot matches zoning and hasvery similar square footage. The Pointe on Vermont property across the streetis mixed use zoning with a recording studio with a Grammy award-winningcomposer and additional retail and community meeting space. The bonus is50 apartments above. www.pointeonvermont.com

The property is presently fully leased out with four stores on the ground floorand four apartments above. Present income is $98,820 annually. Most leasesare month to month. There is approximately 100 feet of frontage on VermontAve. Receive income while doing your entitlement work. This is a solidinvestment property with great upside.

PROPERTY OPROPERTY OVERVERVIEWVIEW

PROPERTY HIGHLIGHTPROPERTY HIGHLIGHTSS

• Great Frontage - Almost 100 feet on Vermont Ave.

• Great development opportunity with C-2 zoning and high density buildup to 50 units on site.

• Large lot on busy street.

OFFERING SUMMAROFFERING SUMMARYY

Sale PricSale Price:e: $1,450,000

PricPrice / SF:e / SF: $223.77

Cap RaCap Ratte:e: 5.18%

NOI:NOI: $75,147

LLot Sizot Size:e: 11,296 SF

YYear Built:ear Built: 1912

Building SizBuilding Size:e: 6,480 SF

ZZoning:oning: LAC-2

MarkMarket:et: Los Angeles

SubmarkSubmarket:et: South Bay/LAX

6,480 SF | 7609-7615 S. VERMONT AVE | LOS ANGELES, CA

P R O P E R T Y I N F O R M AT I O N R E / M A X C O M M E R C I A L

Executive Summary

| | 55

PROPERTY OPROPERTY OVERVERVIEWVIEW

Great development opportunity in the heart of LosAngeles. The property is located on 7609-7615 S. VermontAve. This 11,200 Sq. Ft. lot zoned LAC-2 is directly acrossfrom the Pointe on Vermont. The lot matches zoning andhas very similar square footage. The Pointe on Vermontproperty across the street is mixed use zoning with arecording studio with a Grammy award-winning composerand additional retail and community meeting space. Thebonus is 50 apartments above.www.pointeonvermont.com

The property is presently fully leased out with four storeson the ground floor and four apartments above. Presentincome is $98,820 annually. Most leases are month tomonth. There is approximately 100 feet of frontage onVermont Ave. Receive income while doing yourentitlement work. This is a solid investment property withgreat upside.

LLOCAOCATION OTION OVERVERVIEWVIEW

Located in the heart of Los Angeles at 7609-7615 S.Vermont Ave. This property is 11,200 Sq. Ft and is zonedLAC-2 with approximately 100 feet of frontage onVermont Ave. It is across the street from the Pointe onVermont development which has matching zoning andvery similar square footage. The Pointe on Vermont ismixed use zoning with a recording studio with a Grammyaward winning composer and additional retail andcommunity meeting space.



Property Description

| | 66

PROPERTYPROPERTY NAME:NAME: 7609-7615 S. Vermont Ave.

PROPERTY ADDRESPROPERTY ADDRESS:S: 7609-7615 S. Vermont AveLos Angeles, CA 90044

PROPERTY TYPE:PROPERTY TYPE: Retail

APN:APN: 6019-018-036

PRICE / SF:PRICE / SF: $223.77

GROGROSSSS LEALEASSABLEABLE AREA:AREA: 6,480 SF

BUILDING CLABUILDING CLASSS:S:

ZZONING:ONING: LAC-2

YEAR BUILYEAR BUILTT:: 1912

NUMBER OF SNUMBER OF STTORIES:ORIES: 2

FOUNDFOUNDAATION:TION:

WWALLS:ALLS:

ROOF:ROOF: Shingle



Property Details

| | 77



Additional Photos

LOCATION INFORMATIONSECTION 2

| | 88



| | 99

7609-7615 S. Vermont Ave


L O C AT I O N I N F O R M AT I O N R E / M A X C O M M E R C I A L

Regional Map

| | 1010



Location Maps

| | 1111



Aerial Map

| | 1212



Site Plan

FINANCIAL ANALYSISSECTION 3

| | 1313



| | 1414

INVESINVESTMENT OTMENT OVERVERVIEWVIEW PRIMARPRIMARYY

Price $1,450,000

Price per SF $223.77

CAP Rate 5.2%

Cash-on-Cash Return (yr 1) 5.18 %

Total Return (yr 1) $75,147

Debt Coverage Ratio -

OPERAOPERATING DTING DAATTAA PRIMARPRIMARYY

Gross Scheduled Income $98,820

Other Income -

Total Scheduled Income $98,820

Vacancy Cost $0

Gross Income $98,820

Operating Expenses $23,673

Net Operating Income $75,147

Pre-Tax Cash Flow $75,147

FINANCING DFINANCING DAATTAA PRIMARPRIMARYY

Down Payment $1,450,000

Loan Amount -

Debt Service -

Debt Service Monthly -

Principal Reduction (yr 1) -


F I N A N C I A L A N A LY S I S R E / M A X C O M M E R C I A L

Financial Summary

| | 1515

INCINCOME SUMMAROME SUMMARYY PRIMARPRIMARYY PER UNITPER UNIT

Gross Scheduled Rental Income $98,820 $12,352

GROSS INCOME $98,820 $12,352

EXPENSE SUMMAREXPENSE SUMMARYY PRIMARPRIMARYY PER UNITPER UNIT

Taxes $6,606 $825

Insurance $3,343 $417

Electricity $0 $0

Rubbish $3,636 $454

Water $4,200 $525

Gas $0 $0

Gardner $1,800 $225

Office Expenses $90 $11

License $97 $12

Building Maintenance & Repairs $3,600 $450

Pest & Control Service $300 $37

GROSS EXPENSES $23,673 $2,959

NET OPERATING INCOME $75,147 $9,393



Income & Expenses

| | 1616

TENANTTENANTNAMENAME

UNITUNITNUMBERNUMBER

UNITUNITSIZE (SF)SIZE (SF)

LEALEASESESSTTARTART

LEALEASESEENDEND

ANNUANNUALALRENTRENT

% OF% OFGLAGLA

PRICEPRICEPER SFPER SF/YR/YR

Glass Shop 7609 810 4/3/2004 Month-to-Month $14,400 12.5 $17.78

Mini Market 7611 810 1/15/2008 Month-to-Month $13,800 12.5 $17.04

Upholstery Shop 7613 810 9/1/2015 Month-to-Month $14,400 12.5 $17.78

Hair Salon 7615 810 11/1/2016 4/1/20 $13,200 12.5 $16.30

Tenant 7609 1/2 810 7/1/2016 Month-to-Month $10,800 12.5 $13.33




TTotals/Aotals/Avvereragesages 6,4806,480 $98,820$98,820 $15.25$15.25



Rent Roll

SALE COMPARABLESSECTION 4

| | 1717



| | 1818

SUBJECT PROPERTYSUBJECT PROPERTY7609-7615 S. Vermont Ave | Los Angeles, CA 90044

$1,450,000Sale Price: 0.26 ACLot Size:

1912Year Built: 6,480 SFBuildingSF:$223.77Price PSF: 5.18%Cap:

$75,147NOI:

4800-4808 S Vermont Ave | Los Angeles, CA 90037

$2,800,000Sale Price: 8.298402676063591e-06 ACLot Size:

1932Year Built: 12,390 SFBuilding SF:

$225.99Price PSF 05/25/2018Closed:

11

11

3443 W Manchester Blvd | Inglewood, CA 90305

$2,400,000Sale Price: 0 ACLot Size:

12,271 SFBuilding SF: $195.58Price PSF

07/05/2018Closed:

22

22

5815 Normandie Ave | Los Angeles, CA 90044




33

33


S A L E C O M PA R A B L E S R E / M A X C O M M E R C I A L

Sale Comps

| | 1919

6065-6101 S Western Ave | Los Angeles, CA 90047




44

44

1203-1213 E 58th Pl | Los Angeles, CA 90001




55

55

11001 S Broadway | Los Angeles, CA 90061



$130.55Price PSF

66

66

9204-9218 S Central Ave | Los Angeles, CA 90002




77

77



Sale Comps

| | 2020

4242 Crenshaw Blvd | Los Angeles, CA 90008


$11,582,736.76Price PSF: $504,544,013,090Price / AC:

88

88

1324 W Jefferson Blvd | Los Angeles, CA 90007



12/30/2016Closed:

99

99

1637 S Vermont Ave | Los Angeles, CA 90006



11/03/2017Closed:

1010

1010

8826 S Central Ave | Los Angeles, CA 90002



05/23/2017Closed:

1111

1111



Sale Comps

| | 2121

7923 S Hoover St | Los Angeles, CA 90044



01/17/2018Closed:

1212

1212

1101 W Washington Blvd | Los Angeles, CA 90015


$73.88Price PSF: $3,218,039Price / AC:

02/05/2016Closed:

1313

1313

2401 S Vermont Ave | Los Angeles, CA 90007

$900,000Sale Price: 7.385610002689899e-06 ACLot Size:


11/13/2012Closed:

1414

1414



Sale Comps

| | 2222

SUBJECT PROPERTYSUBJECT PROPERTY PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF CAPCAP

77609-609-776615 S. V15 S. Vermont Aermont Avvee..7609-7615 S. Vermont AveLos Angeles, CA 90044

$1,450,000 6,480 SF $223.77 5.18%

SSALE CALE COMPSOMPS PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF CAPCAP CLCLOOSESE

11 4800-4808 S Vermont AveLos Angeles, CA 90037

$2,800,000 12,390 SF $225.99 N/A 05/25/2018

22 3443 W Manchester BlvdInglewood, CA 90305

$2,400,000 12,271 SF $195.58 N/A 07/05/2018

33 5815 Normandie AveLos Angeles, CA 90044

$2,100,000 10,640 SF $197.37 N/A 06/14/2018

44 6065-6101 S Western AveLos Angeles, CA 90047

$1,899,000 12,992 SF $146.17 N/A 10/12/2017

55 1203-1213 E 58th PlLos Angeles, CA 90001

$1,482,819 13,050 SF $113.63 N/A 04/05/2018

66 11001 S BroadwayLos Angeles, CA 90061

$1,450,000 11,107 SF $130.55 N/A -

77 9204-9218 S Central AveLos Angeles, CA 90002

$1,425,000 11,600 SF $122.84 N/A 11/21/2017

88 4242 Crenshaw BlvdLos Angeles, CA 90008

$3,900,000 - - N/A -

99 1324 W Jefferson BlvdLos Angeles, CA 90007

$1,994,000 - - N/A 12/30/2016

1010 1637 S Vermont AveLos Angeles, CA 90006

$1,850,000 - - N/A 11/03/2017

1111 8826 S Central AveLos Angeles, CA 90002

$1,810,000 - - N/A 05/23/2017

1212 7923 S Hoover StLos Angeles, CA 90044

$1,280,000 - - N/A 01/17/2018



Sale Comps Summary

| | 2323

SUBJECT PROPERTYSUBJECT PROPERTY PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF CAPCAP

1313 1101 W Washington BlvdLos Angeles, CA 90015

$1,050,000 - - N/A 02/05/2016

1414 2401 S Vermont AveLos Angeles, CA 90007

$900,000 - - N/A 11/13/2012

PRICEPRICE BLDGBLDG SFSF PRICE/SFPRICE/SF CAPCAP

TTOOTTALS/AALS/AVERAVERAGESGES $1,881,487 12,007 SF $156.70 -



Sale Comps Summary

| | 2244

7609-7615 S. Vermont Ave | Los Angeles, CA 90044SUBJECT PROPERTYSUBJECT PROPERTY

11 4800-4808 S V4800-4808 S Vermont Aermont AvveeLos Angeles, CA 90037

22 3443 W Manches3443 W Manchestter Blver BlvddInglewood, CA 90305

33 5815 Normandie A5815 Normandie AvveeLos Angeles, CA 90044

44 6065-66065-610101 S W1 S Wesesttern Aern AvveeLos Angeles, CA 90047

55 1201203-3-1213 E 58th Pl1213 E 58th PlLos Angeles, CA 90001

66 110011001 S Br1 S BroadwoadwaayyLos Angeles, CA 90061

77 99204-9204-9218 S C218 S Centrentral Aal AvveeLos Angeles, CA 90002

88 424242 Cr42 Crenshaenshaw Blvw BlvddLos Angeles, CA 90008

99 1321324 W Jeff4 W Jefferson Blverson BlvddLos Angeles, CA 90007

1010 1616337 S V7 S Vermont Aermont AvveeLos Angeles, CA 90006

1111 8826 S C8826 S Centrentral Aal AvveeLos Angeles, CA 90002

1212 779923 S Hoo23 S Hoovver Ser SttLos Angeles, CA 90044

1313 1101101 W W1 W Washingtashington Blvon BlvddLos Angeles, CA 90015

1414 2240401 S V1 S Vermont Aermont AvveeLos Angeles, CA 90007



Sale Comps Map

DEMOGRAPHICSSECTION 5

| | 2525



| | 2626

* Demographic data derived from 2010 US Census

1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES

TTotal householdsotal households 16,453 121,533 311,583

TTotal persons per hhotal persons per hh 3.4 3.5 3.5

AAvvererage hh incage hh incomeome $42,782 $43,036 $45,547

AAvvererage house vage house valuealue $406,789 $394,225 $404,061

1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES

TTotal populaotal populationtion 55,634 428,057 1,095,758

Median ageMedian age 29.0 29.2 29.5

Median age (maleMedian age (male)) 28.1 27.6 28.1

Median age (fMedian age (femaleemale)) 30.0 30.6 30.8


D E M O G R A P H I C S R E / M A X C O M M E R C I A L

Demographics Report

| | 2277

* Demographic data derived from 2010 US Census

POPULAPOPULATIONTION 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILESTOTAL POPULATION 55,634 428,057 1,095,758

MEDIAN AGE 29.0 29.2 29.5

MEDIAN AGE (MALE) 28.1 27.6 28.1

MEDIAN AGE (FEMALE) 30.0 30.6 30.8

HOUSEHOLDHOUSEHOLDS & INCS & INCOMEOME 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILESTOTAL HOUSEHOLDS 16,453 121,533 311,583

# OF PERSONS PER HH 3.4 3.5 3.5

AVERAGE HH INCOME $42,782 $43,036 $45,547

AVERAGE HOUSE VALUE $406,789 $394,225 $404,061


D E M O G R A P H I C S R E / M A X C O M M E R C I A L

Demographics Map

7609-7615 s. vermont ave. · mini market 7611 810 1/15/2008 month-to-month $13,800 12.5 $17.04...

Documents