DYNAMIC LOCATION CLOSE TO USC, LA COLISEUM, SCIENCE MUSEUM PRIME COMMERCIAL/RESIDENTIAL CORNER BUILDING 6 RETAIL / 6 -1BD / 8 SINGLES 28 PRIVATE PARKING SPOTS PROPERTY CONSISTS OF 2 PARCELS Juan Martinez Millan Tel (619) FAX (619) DRE S Vermont Ave Los Angeles CA 90037
Juan Martinez Millan Tel (619) FAX (619) DRE Property Description Foster Hamilton Real Estate Consultants is proud to present S Vermont Ave in the city of Los Angeles. The property is a corner retrofitted brick building composed of retail and residential units located near USC (5 minutes), the Los Angeles Coliseum, and Science Museum along with plenty other major retails such Starbucks, McDonalds, nearby. The property is located on 17,282 sqft with 6 retails, 6 1-BD and 8 singles plus 28 private parking spaces located in the back of the building. Most of the residential units have new windows and has a 3yr old roof. This building offers the residents the convenience of being in a busy retail street and easy access to public transportation. This is an ideal investment for a stable performing asset with significant upside in cash flow and appreciation due to positive changes in the area. Property has been mainly occupied by long term tenants therefore rents are low and there is room for rental increase plus every unit is individually metered for gas and electric.
Juan Martinez Millan Tel (619) FAX (619) DRE Investment Summary Purchase Information Price: $1,599,000 Year Built: 1937 and 1939 APN’s: & Property Type: Retail/Multifamily Units: 6 Retail / 8 Singles / 6 – 1BD (total 20 units) Lot Square Footage: 17,282 Building Square Footage: 18,956 Loan Information Down Payment: $639,600 Loan Amount: $959,400 Term: 30 years Interest Rate: 4.50% Fixed Payment (P&I): $4,861/monthly Investment Information Price/unit: $79,950 Price/Sqft: $84.35 Income per Unit: $9,297 Expenses per Unit: $2,839
Juan Martinez Millan Tel (619) FAX (619) DRE Investment Summary Income, Expenses & Cash Flow Gross Schedule Income: $185,940 Operating Expenses: $56,783 Net Operating Income: $129,157 Debt Service: $58,334 Cash Flow Before Taxes: $70,824 Financial Indicators Cash on Cash Return Before Taxes: 11.07% Debt Coverage Ratio: 2.21 Cap Rate: 8.08% Gross Rent Multiplier: 8.60 Gross Income/Sqft: $9.81 Gross Expenses/Sqft: $3.00 Operating Expense Ratio: 30.54% Principal Reduction: $13,610 Total Return: $84,434
Juan Martinez Millan Tel (619) FAX (619) DRE Investment Summary Annualized Expenses Property Taxes: $25,551 Insurance: $7,055 Water/Electrical: $11,568 Trash: $2,584 Pest: $648 LAHD: $759 Repairs: $8618 Total Expenses: $56,783
Juan Martinez Millan Tel (619) FAX (619) DRE Rent Roll AddressTypeCurrent Rentsqft 5151Retail- Lilly's Electronics$ Meguear Auto Parts$1, /2 -1single-manager$ /2-2single$ /2- 3single$ /2-41BD$ /2-5single$ /2-6single$ /2-71BD$ /2-81BD$ /2-91BD$ /2-10single$ family market$1, Johnson$ Jimenez$ contractors window$ /2-11BD$ /2-21BD$ /2-3single$ /2-4single$
Juan Martinez Millan Tel (619) FAX (619) DRE Legal Disclaimer The calculations and data presented are deemed to be accurate, but are not guaranteed since factors such as buyers credit, seller financing, rates, may differ from the scenarios presented. They are intended for the purpose of illustrative projections and financial analysis. The information provided is not intended to replace or serve as a substitute for any legal, accounting, investment, real estate, tax or other professional advice, consultation or service. The user of this data is strongly advised to consult with a professional in the respective legal, accounting, tax or other professional area before making any decisions.