10564 kewen ave flyer · address 10564 kewen ave apn 2620-011-004 number of units 7 year built 1951...
TRANSCRIPT
EDAN [email protected] #02033047
1
OFFERING SUMMARY
Sale Price: $1,925,000
Cap Rate: 5.18%
GRM: 12.49
NOI: $99,809
Lot Size: 16,480 SF
Year Built: 1951
Building Size: 7,753
Zoning: LAC2
Price / Building SF: $248.29
Price / Lot SF: $116.80
APN: 2620-011-004
Tier 1 TOC
This 16,500 SF lot contains over 7700 SF of mixed-use improvements. There are 6 retail tenants occupyingbetween 500 – 1800 SF, 4 of them on month to month, with no more than 2 years left on the longest lease.There are 2 SFR’s with 3 Bd + 2Bth each, one 2-car garage, one carport, and plenty of parking for each retailunit. There is a full size billboard providing additional income as well.
The asset is located on a prime corner in a rapidly improving area along the recently approved East SanFernando Valley Transit Corridor. It sits between two of the major stops along the new light raildevelopment coming in 2020 and boasts a traffic count of +/- 29,420 cars per day. Hundreds of newresidential units are already under construction and pending approvals within a few miles of the subjectproperty.
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS• 5.2% Current Cap, 7.76% Cash on Cash at Market
• Excellent mixed use opportunity featuring retail tenants, a billboard, and two, three-bedroom SFRs
• Strong corner location on Van Nuys Blvd and Kewen Ave.
• Light Rail Transit project will extend along Van Nuys Blvd to San Fernando Rd
10564 KEWEN AVE | PACOIMA, CA 91331
M I X E D - U S E I N V E S T M E N T
EDAN [email protected] #02033047
2
Pricing Summary
PRICE $1,925,000
DOWN PAYMENT (35.1%) $675,000
Building Data
ADDRESS 10564 Kewen Ave
APN 2620-011-004
NUMBER OF UNITS 7
YEAR BUILT 1951
BUILDING SIZE 7,753 SF
LOT SIZE 16,480 SF
Financial Indicators
CURRENT CAP RATE 5.18%
MARKET CAP RATE 6.67%
CURRENT GRM 12.49
MARKET GRM 10.42
PRICE PER SF $248.29
PRICE PER UNIT $275,000
Financial Summary
LOAN AMOUNT $1,250,000
DOWN PAYMENT $675,000
PRE-TAX CASH FLOW $23,806
NET OPERATING INCOME $99,809
TERM/INTEREST RATE 4.5%
MONTHLY PAYMENT ($6,333)
ANNUAL PAYMENT ($76,003)
LOAN-TO-VALUE 35%
AMORTIZATION 30
DEBT COVERAGE RATIO 1.31
Scheduled Rent Summary
UNIT SQ FT CURRENT RENT MARKET RENT
13480 Van Nuys Blvd.13482 Van Nuys Blvd.13484 Van Nuys Blvd.13486 Van Nuys Blvd.
10568 Kewen St.13476 Van Nuys Blvd.
10564 Kewen St.Billboard (7 Year Lease)
900900
1,4001,800500
3 bed + 2 bath3 bed + 2 bath
$1,700$1,447$1,900$2,900$1,200$1,800$1,725$175
$1,710$1,710$2,660$3,420$1,320$2,200$2,200
$175
Income Summary CURRENT MARKET
Scheduled Gross Income $154,164 $184,740
Vacancy 7% ($10,021) ($12,008)
Gross Operating Income (GOI) $144,143 $172,732
Expense Summary CURRENT MARKET
Total Expenses $44,334 $44,334
Taxes $24,063 $24,063
Insurance $6,166 $6,166
Electric $987 $987
Water $1,169 $1,169
Trash $2,583 $2,583
Repairs $2,906 $2,906
Professional Management $4,625 $4,625
Administrative $1,835 $1,835
Expenses Per SF $5.72 $5.72
% Of GOI 30.76% 25.67%
Net Operating Income $99,809 $128,398
10564 KEWEN AVE | PACOIMA, CA 91331
F I N A N C I A L O F F E R I N G
EDAN [email protected] #02033047
3
COLLECTION ST CROSS ST TRAFFIC VOL DISTANCE
Van Nuys Blvd Cayuga Ave NE 29,979 0.03 mi
Van Nuys Blvd Kewen Ave NE 30,554 0.04 mi
Van Nuys Blvd Omelveny Ave NE 28,501 0.22 mi
Van Nuys Blvd Tamarack Ave SW 22,469 0.22 mi
10564 KEWEN AVE | PACOIMA, CA 91331
K E W E N M A P