1642 echo park avenue marketing...

For SALE1642 Echo Park AvenueLos Angeles, CA 90026

D AV I D K A U F M A N Lic # 01217537[E] [email protected][P] (818) 464‐3212[A] 15300 Ventura Boulevard, Suite 200 | Sherman Oaks, CA 91403

David B. Kaufman

C: (310) 877-8600

E: [email protected]

DRE Lic #01217537

$1,750,000

$0

3.50%

30

$0

N/A

112,823

(2,256) 2.0% 5.0%

110,567

(38,690) 34.3% 33.5%

71,876

-

71,876 4.1% * 4.1% *

-

71,876 4.1% * 4.1% *

1.23%

5%

2 1+1+Den 700 $2060-$2,250 2,250$ Contract Services

2 2+1 800 $2,523-$2,550 2,550$ 3%

Reserves 1%

Total Scheduled Rent:

Laundry & Other:

Misc: Total Expenses: 38,690$

Monthly Scheduled Gross Income: Per Net Sq. Ft.: 12.88$

Annual Scheduled Rent: Per Unit: 9,673$

Annual Scheduled Gross Income:

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied as to

the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

5,641$

3,125$

1,500$ Admin

4,500$

112,823$

14$

9,402$

9,600$

-$

112,655$ 115,200$

14$

9,614$

2,019$

21,525$ Taxes: Rate

1,764$

1,128$

115,368$

Maintenance

Approx. Gross (SF):

Cost per Net GSF:

CURRENT RENTS

9,388$

-$

70,909

1,988$

3,003

70,909

Insurance

Utilities

(38,690)

Scheduled Gross Income:

Less Vacancy Rate Reserve:

Gross Operating Income:

Less Expenses:

Net Operating Income:

Less Loan Payments:

Multi-Family Operating Information1642 Echo Park Avenue, Los Angeles, CA 90026

Price:

Down Payment:

Number of Units:

Cost per Legal Unit:

Current GRM:

100%

SUMMARY

$1,750,000

4

Market GRM:

Current CAP:

Charming Craftsman Style Fourplex in Trendy Echo Park

Neighborhood; Excellent Condition with Four Car Parking in

Rear

ANNUALIZED OPERATING DATA

Market CAP:

Year Built

4.05%

1911

5,687

DCR

SCHEDULED INCOME ESTIMATED ANNUALIZED EXPENSES

Pre-Tax Cash Flow:

Plus Principal Reduction:

Total Return Before Taxes:

-

70,909

-

No. of

Units

Bdrms/

Baths

Approx.

SF

Monthly Rent/

Unit

CURRENT RENTS MARKET RENTS

Montly

Rent/Unit

Monthly

Income

Monthly

Income

437,500$

15.51

15.17

4.11%

PROPOSED FINANCING

New First Loan:

Interest Rate:

Amortization

Monthly Payment:

5,100$

* As a percent of the down payment

Management fee

MARKET RENTS

115,368

(5,768)

109,600

Approx. Lot Size (SF):

$582.75

Financial Summary1642 Echo Park AvenueLos Angeles, CA 90026

2


2

Disclaimer: All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.

UNIT NUMBER UNIT TYPE CURRENTRENT

MARKETRENT NOTES

1642 1/2 2+1 $2,527.11 $2,550.00

1642 1+1+Den $2,060.83 $2,250.00

1644 1+1+Den $2,250.00 $2,250.00

1644 1/2 2+1 $2,550.00 $2,550.00

TOTAL $9,387.94 $9,600.00

RENT ROLL

* Square footage is approximate.

UNIT MIX

1+1+Den 2

2+1 2

APT. AVG RENT/SF CURRENT

Monthly $ 3.12

Annual $ 38.36

33

Property Description1642 Echo Park AvenueLos Angeles, CA 90026



Number of Units 4

Year Built 1911

ApproximateGross SF 3,003 SF

Approximate Lot Size 5,687 SF

Zoning LARD1.5

Parking 4 car open spaces

Utilities Separately metered for electric & gas

Construction 2 story wood frame / stucco

Electrical / Plumbing & Roof Systems are functioning

SUMMARY

The subject property is a two-story Craftsman stylefourplex located in the Echo Park neighborhood in LosAngeles. The property is located just north of SunsetBoulevard and east of Alvarado in this up and comingneighborhood near Dodger Stadium. There are anumber of new construction projects in the market andtrendy retail that are improving the immediate area.

The property has been thoroughly renovated: red oakhardwood floors, new kitchen cabinets, granitecountertops, stainless steel appliances and designer twotone paint with crown and base moldings.

INVESTMENT HIGHLIGHTS

Charming Craftsman Style Fourplex

Very Good Mix of 2-(1+1+Dens) & 2-(2+1 baths)

Very Well Located with Other Apartments and Retail

Four Car Open Parking Plus Storage Shed

Separately Metered for Gas and Electric

Individual Water Heaters

Photos1642 Echo Park AvenueLos Angeles, CA 90026


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Maps1642 Echo Park AvenueLos Angeles, CA 90026


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SUBJECT MAP

Source: www.google.com/maps

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Maps1642 Echo Park AvenueLos Angeles, CA 90026


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1642 echo park avenue marketing...

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