Canfield Apartments Canfield Ave. Los Angeles, CA PROPERTY HIGHLIGHTS

Transcription

1 Canfield Apartments 3766 Canfield Ave. Los Angeles, CA PROPERTY HIGHLIGHTS Dominick Faraone Investment Sales Associate Motor Avenue Centrally located in Palms adjacent to downtown Culver City Copper plumbing, secured building with controlled access gates Unit mix of (5) one bedroom units, (1) two bedroom unit and (4) bachelors 9 unit building being operated as 10 units Onsite laundry room

2 PRO FORMA SUMMARY INVESTMENT SUMMARY Price: $2,760,000 Year Built: 1962 Units: 10 Price/Unit: $276,000 RSF: 4,854 Price/RSF: $ Lot Size: 6,428 sf Floors: 2 Parking Spaces: 12 APN: Cap Rate: 3.27% Market Cap Rate: 4.69% GRM: Market GRM: UNIT MIX & MONTHLY SCHEDULED Type Units Actual Total Market Total $1,850 $1,850 $1,850 $1,850 Bachelor 1 $940 $940 $1,150 $1,150 Bachelor 1 $1,550 $1,550 $1,550 $1, $1,180 $1,180 $1,850 $1, $993 $993 $1,850 $1,850 Bachelor * 1 $793 $793 $1,350 $1, $1,465 $1,465 $1,850 $1,850 Bachelor 1 $837 $837 $1,350 $1, $2,018 $2,018 $2,350 $2, $1,895 $1,895 $1,895 $1,895 TOTALS 10 $13,521 $17,045 ANNUALIZED INCOME Description Actual Market Gross Potential Rent $162,252 $204,540 Less: Vacancy ($4,868) ($6,136) Misc. Income $900 $900 Effective Gross Income $158,284 $199,304 Less: Expenses ($68,085) ($69,853) Net Operating Income $90,200 $129,451 ANNUALIZED EXPENSES Description Actual Market Insurance $2,952 $2,952 Landscaping $1,080 $1,080 Misc. $432 $432 Maintenance $2,772 $2,772 Management Fees $6,212 $7,980 Other Maintenance $1,130 $1,130 Repairs $2,212 $2,212 Taxes Real Estate $34,500 $34,500 Trash Removal $2,484 $2,484 Utility Electricity $9,833 $9,833 Utility Gas $2,966 $2,966 Utility Trash $1,512 $1,512 Total Expenses $68,085 $69,853 Expenses Per RSF $14.03 $14.39 Expenses Per Unit $6,808 $6,985 *2 guest rooms and 1 nonconforming bachelor* page 2

3 LOCATION MAP page 3

4 SALE COMPS Address City Property Info Sale Info Bagley Ave Los Angeles 8,716 SF MultiFamily/Apartments Sold: $3,829,000 ($382,900/Unit) Bagley Ave Los Angeles 5,411 SF MultiFamily/Apartments Sold: $2,550,000 ($318,750/Unit) Clarington Ave Los Angeles 4,264 SF MultiFamily/Apartments Sold: $1,900,000 ($380,000/Unit) S Durango Ave Los Angeles 8,052 SF MultiFamily/Apartments Sold: $3,000,000 ($428,571/Unit) S Durango Ave Los Angeles 13,703 SF Multi Family/Apartments Sold: $5,625,000 ($351,563/Unit) Ernest Ave Los Angeles 3,516 SF MultiFamily/Apartments Sold: $1,750,000 ($350,000/Unit) Keystone Ave Los Angeles 5,440 SF MultiFamily/Apartments Sold: $2,200,000 ($366,667/Unit) Midvale Ave Culver City 5,684 SF MultiFamily/Apartments Sold: $2,580,000 ($368,571/Unit) Regent St Los Angeles 7,248 SF MultiFamily/Apartments Sold: $2,775,000 ($396,429/Unit) Tabor St Los Angeles 7,805 SF MultiFamily/Apartments Sold: $3,727,500 ($372,750/Unit) Tabor St Los Angeles 4,412 SF MultiFamily/Apartments Sold: $3,030,000 ($378,750/Unit) page 4 Copyrighted report licensed to Miller & Desatnik Realty Corp /22/2018 Page 1

5 SALE COMPS Bagley Ave SOLD Sale Date: 08/08/2017 (148 days on mkt) Bldg Type: Class C MultiFamilyApartments Sale Price: $3,829,000 Confirmed Year Built/Age: Built 1966 Age: 51 Price/SF: $ RBA: 8,716 SF Price/Unit: $382,900 # of Units: 10 Parcel No: % Comp ID: GRM/GIM: 13.00/ Bagley Ave SOLD Sale Date: 01/20/2017 (55 days on mkt) Bldg Type: Class C MultiFamilyApartments Sale Price: $2,550,000 Confirmed Year Built/Age: Built 1965 Age: 52 Price/SF: $ RBA: 5,411 SF Price/Unit: $318,750 # of Units: 8 Parcel No: % Comp ID: GRM/GIM: 14.82/ Clarington Ave SOLD Sale Date: 12/06/2017 Bldg Type: Class C MultiFamilyApartments Sale Price: $1,900,000 Confirmed Year Built/Age: Built 1965 Age: 52 Price/SF: $ RBA: 4,264 SF Price/Unit: $380,000 # of Units: 5 Parcel No: Comp ID: S Durango Ave SOLD Sale Date: 03/09/2018 Bldg Type: Sale Price: $3,000,000 Confirmed Year Built/Age: Price/SF: $ RBA: 8,052 SF Price/Unit: $428,571 # of Units: 7 Parcel No: Comp ID: Class C MultiFamilyApartments Built 1962 Age: 56, High Vacancy Property S Durango Ave SOLD Sale Date: 04/11/2018 Bldg Type: Class C MultiFamilyApartments Sale Price: $5,625,000 Confirmed Year Built/Age: Built 1957 Age: 61 Price/SF: $ RBA: 13,703 SF Price/Unit: $351,563 # of Units: 16 Parcel No: % Comp ID: GRM/GIM: 17.30/ Ernest Ave SOLD Sale Date: 06/15/2017 (38 days on mkt) Bldg Type: Class C MultiFamilyApartments Sale Price: $1,750,000 Confirmed Year Built/Age: Built 1952 Age: 65 Price/SF: $ RBA: 3,516 SF Price/Unit: $350,000 # of Units: 5 Parcel No: % Comp ID: page 5 Copyrighted report licensed to Miller & Desatnik Realty Corp /22/2018 Page 2

6 SALE COMPS Keystone Ave SOLD Sale Date: 07/28/2017 Bldg Type: Class C MultiFamilyApartments Sale Price: $2,200,000 Full Value Year Built/Age: Built 1963 Age: 54 Price/SF: $ RBA: 5,440 SF Price/Unit: $366,667 # of Units: 6 Parcel No: Comp ID: Research Status: Full Value Midvale Ave SOLD Culver City, CA Sale Date: 01/09/2018 (137 days on mkt) Bldg Type: Class C MultiFamilyApartments Sale Price: $2,580,000 Confirmed Year Built/Age: Built 1961 Age: 57 Price/SF: $ RBA: 5,684 SF Price/Unit: $368,571 # of Units: 7 Parcel No: % Comp ID: Regent St SOLD Sale Date: 01/17/2018 (127 days on mkt) Bldg Type: Class C MultiFamilyApartments Sale Price: $2,775,000 Confirmed Year Built/Age: Built 1965 Age: 53 Price/SF: $ RBA: 7,248 SF Price/Unit: $396,429 # of Units: 7 Parcel No: % Comp ID: Tabor St SOLD Sale Date: 01/18/2018 (128 days on mkt) Bldg Type: Class C MultiFamilyApartments Sale Price: $3,727,500 Confirmed Year Built/Age: Built 1961 Age: 57 Price/SF: $ RBA: 7,805 SF Price/Unit: $372,750 # of Units: 10 Parcel No: % Comp ID: Tabor St SOLD Sale Date: 04/12/2018 Bldg Type: Class B MultiFamilyApartments Sale Price: $3,030,000 Full Value Year Built/Age: Built 1952 Age: 66 Price/SF: $ RBA: 4,412 SF Price/Unit: $378,750 # of Units: 8 Parcel No: Comp ID: Research Status: Full Value page 6 Copyrighted report licensed to Miller & Desatnik Realty Corp /22/2018 Page 3