garvey center - slab concrete ... exterior stucco parking surface asphalt roof flat/rolling...

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  • OFFERIN

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    10803 Garvey AvenueEl Monte CA 91733

    Garvey Center

    MIXED-USE COMMERCIAL PROPERTY

  • Garvey CenterCONTENTS

    Thomas TheungBroker626-482-0652Lic: 01925585realestate@tomtheung.com

    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 oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent thecurrent or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

    01 Executive Summary Executive Summary 5 Unit Mix Summary 7 Location Summary 8

    02 Property Description Property Features 10 Aerial Map 12 Parcel Map 13 Location Map 14 Property Images 15

    03 Rent Roll Rent Roll Commercial 20 Lease Expiration 21

    04 Financial Analysis Income & Expense Analysis 23 Multiyear Cash Flow Assumptions 24 Cash Flow Analysis 25

    05 Additional Information

  • The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to bereviewed only by the party receiving it from Coldwell Banker and it should not be made available to any other person or entitywithout the written consent of Coldwell Banker. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such informationin the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offeringmemorandum. If you have no interest in the subject property, please promptly return this offering memorandum to ColdwellBanker. This offering memorandum has been prepared to provide summary, unverified financial and physical information toprospective purchasers, and to establish only a preliminary level of interest in the subject property. The information containedherein is not a substitute for a thorough due diligence investigation. Coldwell Banker has not made any investigation, and makesno warranty or representation with respect to the income or expenses for the subject property, the future projected financialperformance of the property, the size and square footage of the property and improvements, the presence of absence ofcontaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition ofthe improvements thereon, or financial condition or business prospects of any tenant, or any tenants plans or intentions tocontinue its occupancy of the subject property. The information contained in this offering memorandum has been obtained fromsources we believe reliable; however, Coldwell Banker has not verified, and will not verify, any of the information contained herein,nor has Coldwell Banker conducted any investigation regarding these matters and makes no warranty or representationwhatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriatemeasures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses ofinvestigating the subject property.

    Garvey Center Confidentiality and Disclaimer | 03

    CONFIDENTIALITY AND DISCLAIMER:

    PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT THE COLDWELL BANKER ADVISOR FOR MORE DETAILS.Copyright 2017 CREOP, LLC. All Rights Reserved.

  • Garvey Center | Executive Sum

    mary

    Executive Summary

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    Offering Summary

    Unit Mix Summary

    Location Summary

    Demographics

    Demographic Charts

  • Garvey Center Executive Summary | 05

    OFFERING SUMMARYADDRESS 10803 Garvey Avenue El Monte CA

    91733

    COUNTY Los Angeles

    MARKET Los Angeles County

    SUBMARKET San Gabriel Valley

    BUILDING SF 5,905

    LAND SF 14,661 SF

    YEAR BUILT 1938

    YEAR RENOVATED 1940

    APN 8580-026-027

    OWNERSHIP TYPE Fee Simple

    FINANCIAL SUMMARYOFFERING PRICE $1,200,000

    PRICE PSF $203.22

    OCCUPANCY 100.00 %

    NOI (CURRENT) $68,479

    CAP RATE (CURRENT) 5.71 %

    CAP RATE (PRO FORMA) 6.05 %

    GRM 14.17

    PROPOSED FINANCINGLOAN 1

    LOAN TYPE Fully Amortized

    DOWN PAYMENT $1,200,000

    LOAN AMOUNT $0

    INTEREST RATE 0.00 %

    ANNUAL DEBT SERVICE $0

    LOAN TO VALUE 0 %

    LOAN 2

    LOAN TYPE Fully Amortized

    DOWN PAYMENT $1,200,000

    LOAN AMOUNT $0

    INTEREST RATE 0.00 %

    ANNUAL DEBT SERVICE $0

    LOAN TO VALUE 0 %

    LOAN 3

    LOAN TYPE Fully Amortized

    DOWN PAYMENT $1,200,000

    LOAN AMOUNT $0

    INTEREST RATE 0.00 %

    ANNUAL DEBT SERVICE $0

    LOAN TO VALUE 0 %

  • Garvey Center Executive Summary | 06

    Hard Corner Location

    Rare Mixed-Use Zoning

    Future Development Potential

    Excellent Long Term Tenant

    Potential To Increase Rent

    Excellent & Convenient Location

    Development & Rapid Growth In The Area

    Excellent 5 unit mixed-use property located on the corner ofGarvey Avenue and Lexinton Avenue. This offering is for 3commercial unit located on Garvey Avenue, including a liquorstore, a video rental store, and a dental office. Behind the 3commercial unit is a two story-two unit residential incomeproperty. Total gross leaseable area of 5 units is approximately5,905 square feet of building on an approximately 14,661 squarefeet of land.

    This offering is ideal for a savy investor who can invest and holdfor short term and also provide for an opportunity to develop thesite in the future. Currently, rent are below market rate with anaverage rental rate of $1.14 per square feet, providing investor anopportunity to increase rent in the future. The corner location ofthe site along with the wide frontage on Garvey Avenue is ideal forfuture development.

    The site is located in the heart of the City of El Monte and is lessthan 20 minutes from Downtown L.A. It is also centrally locatedwithin a short distance from nearby cities such as Alhambra,Monterey Park, San Gabriel, Rosemead, Baldwin Park, TempleCity, Arcadia, and Pasadena.

  • Actual MarketUnit Mix # Units Square Feet Current Rent Rent PSF Monthly

    IncomeMarket Rent Market Rent

    PSFMarket Income

    Bella Dental 1 1,210 $0 $0.00 $0 $18,600 $15.37 $18,600Residential Lease 2 650 $0 $0.00 $0 $11,400 $17.54 $22,800

    Star Liquor 1 2,450 $0 $0.00 $0 $37,800 $15.43 $37,800Video Store 1 1,000 $0 $0.00 $0 $18,000 $18 $18,000

    Totals/Averages 5 1,192 $0 $0.00 $0 $19,440 $16.78 $97,200

    Garvey Center Unit Mix Summary | 07

  • Garvey Center Location Summary | 08

    Located on one of the most traffic thoroughfare ofGarvey Avenue in the City of El Monte, the subjectproperty is within closeproximity to the 10, 60, and 605 freeway. Access topublic transportation is also very convenient with ElMonte Metro Station within walking distance fromthe subject property. The property benefits fromexcellent visibility and heavy traffic count of over30,000 cars per day on Garvey Avenue.

    Regional Map

    Locator Map

  • Garvey Center | Property Description

    Property Description

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    Property Features

    Aerial Map

    Parcel Map

    Additional Maps

    Property Images

  • Garvey Center Property Features | 10

    GLOBALNUMBER OF UNITS 5

    BUILDING SF 5905

    LAND SF 14661

    LAND ACRES 0.34

    # OF PARCELS 1

    YEAR BUILT 1938

    YEAR RENOVATED 1940

    ZONING TYPE EMC3

    LOCATION CLASS Hard Corner

    BUILDING CLASS B

    TOPOGRAPHY Rolling/Hilly

    NUMBER OF BUILDINGS 5

    NUMBER OF STORIES 2

    LOT DIMENSION 90 x 164

    TRAFFIC COUNTS 29000

    SIGNALIZED CORNER Garvey/Lexington

    PARKING RATIO 3.5/1000

    NUMBER OF PADS 0

    NUMBER OF INGRESSES 2

    NUMBER OF EGRESSES 2

    MULTI-FAMILY VITALSNUMBER OF PARKING SPACES 21

    POOL / JACUZZI None

    FIRE PLACE None

    WASHER/DRYER None

    NUMBER OF UNITS 2

    CURRENT OCCUPANCY 100

    HVAC None

    FIRE SPRINKLERS None

    HIGH-END FINISHES None

    PRIVATE BALCONIES None

    COMMERCIAL VITALSNUMBER OF UNITS 3

    CURRENT OCCUPANCY 100

    HVAC None

    FIRE SPRINKLERS None

    NEIGHBORING PROPERTIESNORTH Single Family Residence

    SOUTH Commercial

    EAST Commercial

    WEST Commercial

  • Garvey Center Property Features | 11

    CONSTRUCTIONFOUNDATION Slab Concrete

    FRAMING Wood/Steel

    EXTERIOR Stucco

    PARKING SURFACE Asphalt

    ROOF Flat/Rolling Composition

    LANDSCAPING None

  • Garvey Center Aerial Map | 12

  • Garvey Center Parcel Map | 13

  • Garvey Center Location Map | 14

  • Garvey Center Property Images | 15

  • Garvey Center Property Images | 16

  • Garvey Center Property Images | 17

  • Garvey Center Property Images | 18

  • Garvey Center | Rent Roll

    Rent Roll

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