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712 East Walnut Street • Pasadena, CA 91101
Market Positioning and Pricing Analysis
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N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap andshould not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverifiedinformation to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, thefuture projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's orasbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or anytenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to bereliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding thesematters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures toverify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
SPECIAL COVID-19 NOTICE
All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary,especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence onbehalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus &Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage otherprofessionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro formafinancial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections,analyses, and decision-making.
Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo orname is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
THE ENCOREPasadena, CAACT ID ZAB0120677
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E X C L U S I V E L Y L I S T E D B Y :
Gayle Factor
First Vice President InvestmentsDirector - National Multi Housing GroupEncino OfficeTel: (818) 212-2756Fax: (818) [email protected]: CA 01066258
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TABLE OF CONTENTS
SECTION
INVESTMENT OVERVIEW 01Offering Summary
Property Photos
Property Description
Regional Map
Local Map
Aerial Photo
FINANCIAL ANALYSIS 02
Rent Roll Summary
Rent Roll Detail
Rent Roll Summary Commercial
Operating Statement
Pricing Detail
Acquisition Financing
MARKET COMPARABLES 03
Sales Comparables
Rent Comparables
MARKET OVERVIEW 04
Demographic Analysis
4
5
INVESTMENT
OVERVIEW
#
EXECUTIVE SUMMARY
OFFERING SUMMARY
MAJOR EMPLOYERS
EMPLOYER # OF EMPLOYEES
Jet Propulsion Laboratory 6,000
Operations/Risk Group 5,315
Jacobs Engineering Company 4,000
Caltech 3,517
Hudson Gardens 3,400
Blue Chip Stamps 3,074
Saint Elizabeth Church 2,800
Stater Bros Holdings Inc 2,115
Huntington Memorial Hospital 2,105
Feihe International Inc 1,932
Pasadena City College 1,600
Parsons Wtr Infrastructure Inc 1,522
DEMOGRAPHICS
3-Miles
2019 Estimate Pop 192,251
2010 Census Pop 182,518
2019 Estimate HH 76,936
2010 Census HH 71,995
Median HH Income $82,121
Per Capita Income $51,576
Average HH Income $127,899
VITAL DATA
CURRENT PROFORMA
Price $17,450,000 CAP Rate 3.88% 3.97%
Down Payment 100% / $17,450,000 Net Operating Income $677,859 $692,486
Multifamily – Approx. Gross SqFt 32,178
Commercial – Approx. Rentable SqFt 2,915
Price/Unit $581,667
Price/SF $497.25
Year Built 2004
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UNIT MIX
UNIT COUNT
UNIT TYPEAPPROX.AVG. SF
CURRENT AVG. RENTS
AVG. RENTS/SF
MONTHLY INCOME
POTENTIAL RENTS
AVG. RENTS/SF
MONTHLYINCOME
21 Two-Bed/Two-Bath 1,068 $2,748 $2.57 $57,718 $2,779 $2.60 $58,358
7 Three-Bed/Two-Bath 1,379 $3,171 $2.30 $22,195 $3,257 $2.36 $22,800
SUITE COUNT
TYPE TOTAL GLA CURRENT RENT RANGECURRENT MONTHLY
INCOMEPRO FORMA
MONTHLY INCOME
2 Commercial/Retail 2,915 $3,399 - $3,825 $7,224 $7,288
Total square footage of 35,093 sq. ft. based on public record. Aggregate unit square footage of 34,999 sq. ft. based on the Seller's rent roll. Buyer to confirm accuracy of aggregate unit square footage.
PROPERTY PHOTO
7
PROPERTY PHOTOS
8
PROPERTY PHOTOS
9
OFFERING SUMMARY
Built 2004
Prime Pasadena Location, located in the Playhouse District of Pasadena and minutes
away from Old Town Pasadena
Great Unit Mix
In-Unit Washer/Dryer and most of the apartments have a balcony
24 out of the 28 apartments have been renovated
Located a few blocks away from restaurants, shops and entertainment on Colorado
Boulevard
INVESTMENT HIGHLIGHTS
INVESTMENT OVERVIEW
The Encore is an irreplaceable 28-unit apartment building plus two commercial/retail units on the ground floor located at 712 East Walnut Street, Pasadena, CA 91101.
The property was built in 2004 and is located on the southwest corner of East Walnut Street and North Oak Knoll Avenue, in the Playhouse District of Pasadena. The
Encore is located a few blocks away from restaurants, shops and entertainment on Colorado Boulevard and minutes away from Old Town Pasadena.
The unit mix consists of 21 two-bedroom/two-bathroom units, 7 three-bedroom/two-bathroom units and two commercial/retail units. Per the Seller, 24 out of the 28
apartments have been renovated with stainless steel appliances, vinyl plank flooring in the kitchen, bathrooms, living room and hallways and carpet in the bedrooms and
closets, 4 inch baseboards, paint, fixtures, quartz counter tops in the kitchen and the bathrooms, shaker style cabinets with pulls and newer side by side washer and
dryer. All of the apartments have in-unit washer/dryer and most of the apartments have a balcony. The building has an elevator, central air and heat, gated parking and an
interior courtyard. Per the Seller, the exterior of the building has newer paint. There are 64 parking spaces, 42 single spaces (residential), 6 tandem (residential), 8 (retail),
and 2 handicap.
Two of the Below-Market-Rate (BMR) tenants will terminate in May 2025 giving the new owner significant upside upon expiration. Buyer to verify which Below-Market-Rate
(BMR) tenants terminate in 2025.
There is a Condo Tract Map on the property. (Buyer to verify)
Properties like The Encore don’t come around for sale that often in a prime location of Pasadena.
10
REGIONAL MAP
11
LOCAL MAP
12
AERIAL PHOTO
13
Subject Property
Old Town Pasadena
AERIAL PHOTO
14
15
FINANCIAL
ANALYSIS
FINANCIAL ANALYSISRENT ROLL SUMMARY
16
As of June 2020
Multifamily Scheduled Potential
# of
Approx.
Avg Sq Rental Average Average Monthly Average Average Monthly
Unit Type Units Feet Range Rent Rent / SF Income Rent Rent / SF Income
Two-Bed/Two-Bath 19 1,063 $2,650 - $3,250 $2,916 $2.74 $55,410 $2,950 $2.77 $56,050
Two-Bed/Two-Bath BMR 2 1,116 $1,058 - $1,250 $1,154 $1.03 $2,308 $1,154 $1.03 $2,308
Three-Bed/Two-Bath 6 1,388 $3,325 - $3,450 $3,399 $2.45 $20,395 $3,500 $2.52 $21,000
Three-Bed/Two-Bath BMR 1 1,322 $1,800 - $1,800 $1,800 $1.36 $1,800 $1,800 $1.36 $1,800
Totals/Weighted Averages 28 1,146 $2,854 $2.49 $79,913 $2,899 $2.53 $81,158
Gross Annualized Rents $958,956 $973,896
Total square footage of 35,093 sq. ft. based on public record. Aggregate unit square footage of 34,999 sq. ft. based on the Seller's rent roll. Buyer to confirm accuracy of aggregate unit square footage.
The unit rent graph is based on the market rate units and does not include the BMR units.
FINANCIAL ANALYSIS
17
RENT ROLL DETAILAs of June 2020
Current Current Scheduled Scheduled Potential Potential
Approx.
Square Rent / Rent / SF/ Rent / Rent / SF/ Rent / Rent/ SF/
Unit Unit Type Feet Month Month Month Month Month Month
201 Two-Bed/Two-Bath BMR 1,064 $1,250 $1.17 $1,250 $1.17 $1,250 $1.17
202 Two-Bed/Two-Bath 1,110 $2,795 $2.52 $2,795 $2.52 $2,950 $2.66
203 Two-Bed/Two-Bath BMR 1,168 $1,058 $0.91 $1,058 $0.91 $1,058 $0.91
204 Two-Bed/Two-Bath 954 $2,815 $2.95 $2,815 $2.95 $2,950 $3.09
205 Three-Bed/Two-Bath 1,322 $3,325 $2.52 $3,325 $2.52 $3,500 $2.65
206 Two-Bed/Two-Bath 1,014 $2,795 $2.76 $2,795 $2.76 $2,950 $2.91
207 Two-Bed/Two-Bath 1,014 $3,050 $3.01 $3,050 $3.01 $2,950 $2.91
301 Two-Bed/Two-Bath 1,064 $2,995 $2.81 $2,995 $2.81 $2,950 $2.77
302 Two-Bed/Two-Bath 1,110 $3,050 $2.75 $3,050 $2.75 $2,950 $2.66
303 Two-Bed/Two-Bath 1,168 $2,995 $2.56 $2,995 $2.56 $2,950 $2.53
304 Three-Bed/Two-Bath 1,454 $3,395 $2.33 $3,395 $2.33 $3,500 $2.41
305 Three-Bed/Two-Bath BMR 1,322 $1,800 $1.36 $1,800 $1.36 $1,800 $1.36
306 Two-Bed/Two-Bath 1,014 $2,995 $2.95 $2,995 $2.95 $2,950 $2.91
307 Two-Bed/Two-Bath Vacant 1,014 Projected $2,950 $2.91 $2,950 $2.91 $2,950 $2.91
401 Two-Bed/Two-Bath 1,064 $2,975 $2.80 $2,975 $2.80 $2,950 $2.77
402 Two-Bed/Two-Bath 1,110 $2,650 $2.39 $2,650 $2.39 $2,950 $2.66
403 Two-Bed/Two-Bath 1,168 $2,875 $2.46 $2,875 $2.46 $2,950 $2.53
404 Three-Bed/Two-Bath 1,454 $3,450 $2.37 $3,450 $2.37 $3,500 $2.41
405 Three-Bed/Two-Bath 1,322 $3,400 $2.57 $3,400 $2.57 $3,500 $2.65
406 Two-Bed/Two-Bath 1,014 $2,875 $2.84 $2,875 $2.84 $2,950 $2.91
407 Two-Bed/Two-Bath 1,014 $2,750 $2.71 $2,750 $2.71 $2,950 $2.91
501 Two-Bed/Two-Bath Manager 1,064 $3,250 $3.05 $3,250 $3.05 $2,950 $2.77
502 Two-Bed/Two-Bath Vacant 1,110 Projected $2,950 $2.66 $2,950 $2.66 $2,950 $2.66
503 Two-Bed/Two-Bath 1,168 $2,900 $2.48 $2,900 $2.48 $2,950 $2.53
504 Three-Bed/Two-Bath 1,454 $3,425 $2.36 $3,425 $2.36 $3,500 $2.41
505 Three-Bed/Two-Bath 1,322 $3,400 $2.57 $3,400 $2.57 $3,500 $2.65
506 Two-Bed/Two-Bath 1,014 $2,895 $2.86 $2,895 $2.86 $2,950 $2.91
507 Two-Bed/Two-Bath 1,014 $2,850 $2.81 $2,850 $2.81 $2,950 $2.91
Total **Approx.
Square Feet: 32,084
$79,913 $2.49 $79,913 $2.49 $81,158 $2.53
*Two of the BMR tenants terminate in May 2025. Buyer to verify which BMR tenants terminate in May 2025.
**Total square footage of 35,093 sq. ft. based on public record. Aggregate unit square footage of 34,999 sq. ft. based on the seller's rent roll. Buyer to confirm accuracy of aggregate unit square footage.
FINANCIAL ANALYSIS
18
RENT ROLL SUMMARY
As of June 2020
Commercial %
Approx.
Square BldgRent per
Total Rent
Tenant Name TypeSuite
Feet ShareLease Term Sq. Ft. Per Month
Bisous Bisous De Beaute Commercial/Retail 722 1,540 4.39% 03/01/2020 to 02/28/2026 $29.81 $3,825
OsteoStrong Commercial/Retail 704 1,375 3.92% 05/01/2019 to 07/31/2024 $29.66 $3,399
Total 2 2,915 $7,224
Occupancy Commercial/Retail: 100.00%
Total Annualized Rent 2 $86,688
Total square footage of 35,093 sq. ft. based on public record. Aggregate unit square footage of 34,999 sq. ft. based on the Seller's rent roll. Buyer to confirm accuracy of aggregate unit square footage.
FINANCIAL ANALYSISOPERATING STATEMENT
19
Please Note:*These expenses are estimated.Real Estate Taxes are estimated.
FINANCIAL ANALYSISPRICING DETAIL
20
Summary Operating Data
Price $17,450,000
Down Payment $17,450,000 100% Income Current ProForma
# of Apartment Units 28 Multifamily
# of Commercial Suites 2 Gross Scheduled Rent $958,956 $973,896
Price Per Unit $581,667
Price Per SqFt $497.25 RUBS, Parking, Storage, Pet Fee $23,493 $23,493
Lot Size 15,481 Vacancy 3.0% ($28,769) 3.0% ($29,217)
Multifamily – Approx. Gross SqFt 32,178 Effective Gross Income $953,681 $968,172
Commercial – Approx. Rentable SqFt 2,915
Approx. Year Built 2004 Commercial/Retail
Gross Scheduled Rent $86,688 $87,456
Current ProForma Expense Reimbursements $0 $0
CAP Rate 3.88% 3.97% CAM $17,250 $17,250
Cash-on-Cash 3.88% 3.97% Vacancy 3.0% ($2,601) 3.0% ($2,624)
Debt Coverage Ratio 0.00 0.00 Effective Gross Income $101,337 $102,082
Financing 1st Loan Combined Effective Gross Income (CEGI) $1,055,018 $1,070,255
Loan Amount $0 Less: Expenses ($377,159) ($377,769)
Loan Type New Loan Net Operating Income $677,859 $692,486
Loan information is subject to change. Contact your Marcus & Millichap Capital Corporation representative.
# Of Suites Type GLA Current Rent Pro Forma Rent
2 Commercial /Retail 2,915 $7,224 $7,288
Expenses Current ProForma
Real Estate Taxes $184,275 $184,275
# Of Units Unit Type Approx. SqFt/Unit Current Rents Market Rents Insurance $11,148 $11,148
21 Two-Bed/Two-Bath 1,068 $2,748 $2,779 Utilities - Combined $42,204 $42,204
7 Three-Bed/Two-Bath 1,379 $3,171 $3,257 Operating Expenses - Combined $139,533 $140,142
Total Expenses $377,159 $377,769
Expenses/SF $11.72 $11.74
Please Note:*Some of the expenses are estimated.Real Estate Taxes are estimated.
Total square footage of 35,093 sq. ft. based on public record. Aggregate unit square footage of 34,999 sq. ft. based on the Seller's rent roll. Buyer to confirm accuracy of aggregate unit square footage.
MARCUS & MILLICHAP ADVANTAGE
MARCUS & MILLICHAP CAPITAL
CORPORATION CAPABILITIES
MMCC—our fully integrated, dedicated financing arm—is committed to providing superior capital market expertise, precisely managed execution, and unparalleled access to capital sources providing the most competitive rates and terms.
We leverage our prominent capital market relationships with commercial banks, life insurance companies, CMBS, private and public debt/equity funds, Fannie Mae, Freddie Mac and HUD to provide our clients with the greatest range of financing options.
Our dedicated, knowledgeable experts understand the challenges of financingand work tirelessly to resolve all potential issues for the benefit of our clients.
Optimum financing solutions to
enhance value
Enhanced control through
investor qualification support
Enhanced control through
MMCC’s ability to qualify
investor finance contingencies
Enhanced control through
MMCC’s ability to monitor
investor/due diligence and
underwriting to ensure timely,
predictable closings
Enhanced control through
quickly identifying potential
debt/equity sources,
processing, and closing
buyer’s finance alternatives
WHY MMCC?
National platform
operating
within the firm’s
brokerage offices
$ 7.18 billion
total national
volume in 2019
Access to
more capital
sources than
any other firm
in the industry
Closed 1,994
debt and equity
financings
in 2019
21
22
MARKET
COMPARABLES
SALES COMPARABLES MAP
23
THE ENCORE
(SUBJECT)
Doran Street Lofts
4309 Dixie Canyon Avenue
11048 La Maida Street
5727 La Mirada Avenue
Orange 12
The Metropolitan at Larchmont Village
SALES COMPARABLES
1
2
3
4
5
6
24
PROPERTY NAME
SALES COMPARABLES
Avg. 3.83%
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
The encore DoranStreetLofts
4309 DixieCanyonAvenue
11048 LaMaidaStreet
5727 LaMiradaAvenue
Orange 12 TheMetropolitanat Larchmont
Village
Average Cap Rate
Avg. $474.93
$0.00
$60.00
$120.00
$180.00
$240.00
$300.00
$360.00
$420.00
$480.00
$540.00
$600.00
The encore DoranStreetLofts
4309 DixieCanyonAvenue
11048 LaMaidaStreet
5727 LaMiradaAvenue
Orange 12 TheMetropolitanat Larchmont
Village
Average Price Per Square Foot
SALES COMPARABLES SALES COMPS AVG
PROPERTY NAME
MARKETING TEAMSALES COMPARABLES
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SALES COMPARABLES
Units Type
Offering Price $17,450,000 21 Two-Bed Two-Bath
Price/Unit $581,667 7Three-Bed Two-
Bath
Price/SF $497.25 2 Commercial/Retail
CAP Rate 3.88%
Year Built 2004
Total Apartment Units 28
Total Commercial/Retail 2
THE ENCORE712 East Walnut Street, Pasadena, CA, 91101
Units Type
Close Of Escrow 1/16/2020 5 1 Bdr 1.5 Bath
Sales Price $12,600,000 5 2 Bdr 2 Bath
Price/Unit $630,000 10 2 Bdr 2.5 Bath
Price/SF $416.53
CAP Rate 3.70%
Year Built 2007
Total No. of Units 20
1
NOTESThe subject property was 90% leased at the time of sale. The property contains no deferred maintenance. Each unit has been condo out; therefore, each unit has a separate parcel number.
DORAN STREET LOFTS730 West Doran Street, Glendale, CA, 91203
Units Type
Close Of Escrow 1/8/2019 13 2 Bdr 2 Bath
Sales Price $8,000,000 1 3 Bdr 3 Bath
Price/Unit $571,429
Price/SF $452.28
CAP Rate 3.50%
GRM 17.62
Year Built 2003
Total No. of Units 14
2
NOTESThere were no vacancies at the time of sale. No deferred maintenance was reported. 14 units, individual condo units.
4309 DIXIE CANYON AVENUE4309 Dixie Canyon Avenue, Sherman Oaks, CA, 91423
PROPERTY NAME
MARKETING TEAMSALES COMPARABLES
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rentpropertyaddress1
26
SALES COMPARABLES
Tenants Type
Close Of Escrow 8/15/2019 10 2 Bdr 2.5 Bath
Sales Price $4,950,000
Price/Unit $495,000
Price/SF $380.65
CAP Rate 3.4%
Year Built 2003
Total No. Units 10
3
NOTES
The building was 100% occupied.
11048 LA MAIDA STREET 11048 La Maida Street , North Hollywood , CA, 91601
Tenants Type
Close Of Escrow 2/13/2019 14 2 Bdr 2 Bath
Sales Price $17,700,000 12 3 Bdr 2 Bath
Price/Unit $632,143 2 3 Bdr 3 Bath
Price/SF $430.07
CAP Rate 4.32%
Year Built 2018
Total No. Units 28
4
NOTESThe subject property was fully leased at the time of sale. No deferred maintenance.
5727 LA MIRADA AVENUE5727 La Mirada Avenue, Los Angeles, CA, 90038
Tenants Type
Close Of Escrow 4/9/2019 1 1 Bdr 1 Bath
Sales Price $8,750,000 7 2 Bdr 2 Bath
Price/Unit $729,167 4 3 Bdr 3 Bath
Price/SF $586.66
CAP Rate 4.12%
Year Built 2018
Total No. Units 12
5
NOTESThere was 1 unit vacant at the close of sale, previously occupied below market rent. Seller permitted an increased density bonus. There was one affordable unit.
ORANGE 121306 North Orange Drive, Los Angeles, CA, 90028
PROPERTY NAME
MARKETING TEAMSALES COMPARABLES
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27
SALES COMPARABLES
Tenants Type
Close Of Escrow 8/12/2019 2 0 Bdr 1 Bath
Sales Price $19,000,000 22 1 Bdr 1 Bath
Price/Unit $558,824 10 2 Bdr 2 Bath
Price/SF $583.36
CAP Rate 3.92%
Year Built 2017
Total No. Units 34
6
NOTES
There are three affordable units, 2 1+1 and 1 2+2.
THE METROPOLITAN AT LARCHMONT VILLAGE5825 Camerford Avenue, Los Angeles, CA, 90038
8 RENT COMPARABLES MAP
THE ENCORE
(SUBJECT)
Pasadena Gateway Villas
City Place
The Hudson
Theo
The Andalucia
Trio Apartments
Avalon Pasadena
4
7
8
9
11
20
12
14
15
16
17
13
18
10
4
7
1
2
3
5
6
28
PROPERTY NAME
RENT COMPARABLES
29
AVERAGE RENT - MULTIFAMILY
Avg. $3,561
$0
$400
$800
$1,200
$1,600
$2,000
$2,400
$2,800
$3,200
$3,600
$4,000
The encore PasadenaGateway
Villas
City Place The Hudson Theo TheAndalucia
TrioApartments
AvalonPasadena
3 Bedroom
Avg. $3,200
$0
$400
$800
$1,200
$1,600
$2,000
$2,400
$2,800
$3,200
$3,600
$4,000
The encore PasadenaGateway
Villas
City Place The Hudson Theo TheAndalucia
TrioApartments
AvalonPasadena
2 Bedroom
PROPERTY NAME
MARKETING TEAMRENT COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
30
Type TenantApprox.Avg. SF
Avg. Monthly Rent
Rent/SF
Two-Bed Two-Bath 21 1,068 $2,748 $2.57Three-Bed Two-Bath 7 1,379 $3,171 $2.30
Total/Avg. 28 1,146 $2,854 $2.49
Retail 2 1,457 $3,612 $29.74
THE ENCORE712 East Walnut Street, Pasadena, CA, 91101
Type Monthly Rent
2 Bdr 2 Bath $2,600-$2,892
3 Bdr 2 Bath $3,456
Year Built 2002
Total No. of Units 140
1
PASADENA GATEWAY VILLAS290 North Hudson Avenue, Pasadena, CA, 91101
Type Monthly Rent
2 Bdr 2 Bath $3,330-$3,410
3 Bdr 2 Bath $3,540-$3,790
Year Built 2001
Total No. of Units 214
2
CITY PLACE801 East Walnut Street, Pasadena, CA, 91101
Total square footage of 35,093 sq. ft. based on public record. Aggregate unit square footage of 34,999 sq. ft. based on the Seller's rent roll. Buyer to confirm accuracy of aggregate unit square footage.
PROPERTY NAME
MARKETING TEAMRENT COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
31
3
THE HUDSON177 North Hudson Avenue, Pasadena, CA, 91101
4
THEO289 North El Molino Avenue, Pasadena, CA, 91101
5
THE ANDALUCIA686 East Union Street, Pasadena, CA, 91101
Type Monthly Rent
2 Bdr 2 Bath $3,107-$3,664
Year Built 2017
Total No. of Units 91
Type Monthly Rent
2 Bdr 2 Bath $3,200-$3,925
Year Built 2020
Total No. of Units 105
Type Monthly Rent
2 Bdr 2 Bath $3,150-$3,525
Year Built 2015
Total No. of Units 118
PROPERTY NAME
MARKETING TEAMRENT COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
32
6
TRIO APARTMENTS44 North Madison Avenue, Pasadena, CA, 91101
7
AVALON PASADENA25 South Oak Knoll Avenue, Pasadena, CA, 91101
Type Monthly Rent
2 Bdr 2 Bath $2,733-$3,165
Year Built 2006
Total No. of Units 304
Type Monthly Rent
2 Bdr 2 Bath $3,050
Year Built 2004
Total No. of Units 120
33
MARKET
OVERVIEW
PROPERTY NAME
MARKETING TEAMDEMOGRAPHICS
Source: © 2019 Experian
Created on July 2020
POPULATION 3 Miles 2024 Projection
Total Population 196,669
2019 Estimate
Total Population 192,251
2010 Census
Total Population 182,518
2000 Census
Total Population 178,805
Daytime Population
2019 Estimate 233,996
HOUSEHOLDS 3 Miles 2024 Projection
Total Households 79,227
2019 Estimate
Total Households 76,936
Average (Mean) Household Size 2.44
2010 Census
Total Households 71,995
2000 Census
Total Households 68,623
Growth 2015-2020 2.98%
HOUSING UNITS 3 Miles Occupied Units
2024 Projection 79,227
2019 Estimate 80,319
Owner Occupied 35,195
Renter Occupied 41,741
Vacant 3,383
Persons In Units
2019 Estimate Total Occupied Units 76,936
1 Person Units 32.86%
2 Person Units 30.99%
3 Person Units 14.57%
4 Person Units 11.74%
5 Person Units 5.25%
6+ Person Units 4.59%
HOUSEHOLDS BY INCOME 3 Miles 2019 Estimate
$200,000 or More 14.98%
$150,000 - $199,000 9.58%
$100,000 - $149,000 17.01%
$75,000 - $99,999 12.28%
$50,000 - $74,999 15.06%
$35,000 - $49,999 8.01%
$25,000 - $34,999 5.93%
$15,000 - $24,999 6.41%
Under $15,000 10.75%
Average Household Income $127,899
Median Household Income $82,121
Per Capita Income $51,576
POPULATION PROFILE 3 Miles Population By Age
2019 Estimate Total Population 192,251
Under 20 21.04%
20 to 34 Years 22.17%
35 to 39 Years 7.44%
40 to 49 Years 13.92%
50 to 64 Years 19.65%
Age 65+ 15.80%
Median Age 39.56
Population 25+ by Education Level
2019 Estimate Population Age 25+ 140,878
Elementary (0-8) 5.71%
Some High School (9-11) 5.18%
High School Graduate (12) 13.42%
Some College (13-15) 15.67%
Associate Degree Only 6.79%
Bachelors Degree Only 27.95%
Graduate Degree 23.39%
Population by Gender
2019 Estimate Total Population 192,251
Male Population 48.46%
Female Population 51.54%
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Income
In 2019, the median household income for your selected geography is$63,256, compare this to the US average which is currently $60,811.The median household income for your area has changed by 73.64%since 2000. It is estimated that the median household income in yourarea will be $74,757 five years from now, which represents a changeof 18.18% from the current year.
The current year per capita income in your area is $41,221, comparethis to the US average, which is $33,623. The current year averagehousehold income in your area is $87,802, compare this to the USaverage which is $87,636.
Population
In 2019, the population in your selected geography is 48,129. Thepopulation has changed by 15.00% since 2000. It is estimated thatthe population in your area will be 49,512.00 five years from now,which represents a change of 2.87% from the current year. Thecurrent population is 49.38% male and 50.62% female. The medianage of the population in your area is 34.55, compare this to the USaverage which is 38.08. The population density in your area is15,317.37 people per square mile.
Households
There are currently 22,451 households in your selected geography.The number of households has changed by 23.91% since 2000. It isestimated that the number of households in your area will be 23,251five years from now, which represents a change of 3.56% from thecurrent year. The average household size in your area is 2.08 persons.
Employment
In 2019, there are 59,606 employees in your selected area, this is alsoknown as the daytime population. The 2000 Census revealed that69.09% of employees are employed in white-collar occupations inthis geography, and 30.67% are employed in blue-collar occupations.In 2019, unemployment in this area is 5.71%. In 2000, the averagetime traveled to work was 29.00 minutes.
Race and Ethnicity
The current year racial makeup of your selected area is as follows:48.18% White, 8.56% Black, 0.08% Native American and 21.26%Asian/Pacific Islander. Compare these to US averages which are:70.07% White, 12.87% Black, 0.19% Native American and 5.66%Asian/Pacific Islander. People of Hispanic origin are countedindependently of race.
People of Hispanic origin make up 37.08% of the current yearpopulation in your selected area. Compare this to the US average of18.17%.
PROPERTY NAME
MARKETING TEAM
Housing
The median housing value in your area was $508,295 in 2019,compare this to the US average of $212,058. In 2000, there were3,585 owner occupied housing units in your area and there were14,534 renter occupied housing units in your area. The median rent atthe time was $660.
Source: © 2019 Experian
DEMOGRAPHICS
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8 DEMOGRAPHICS
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