6,714 sf lot 5,175 sf building · tenancy apartments over retail highway access 105 and 170...

5,175 SFBUILDING

6,714 SFLOT

OFFERING MEMORANDUM | $960,000

9622 - 9624 LONG BEACH BLVD.SOUTH GATE, CA 902802 APARTMENTS OVER 2 RETAIL UNITS OWNER-USER / 90% FINANCING

2 3

© 2018 Hudson Commercial Partners, Inc. The information contained in this document has been obtained from sources believed reliable. While Brookfield Partners, Inc. does not doubt its accuracy, Hudson Commercial Partners, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors, which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Hudson Commercial Partners, Inc. and the Hudson Commercial Partners, Inc. logo are service marks of Hudson Commercial Partners, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

TABLE OF CONTENTS

SECTION ONE 04EXECUTIVE OVERVIEW

This Memorandum (“Offering Memorandum”) has been prepared by Hudson Partners, Inc. and BRC Advisors, Inc. based on information that was furnished to us by sources we deem to be reliable. No warranty or representation is made to the accuracy thereof; subject to correction of errors, omissions, change of price, prior sale, or withdrawal from market without notice.

This Memorandum is being delivered to a limited number of parties who may be interested in and capable of purchasing the Property. By its acceptance hereof, each recipient agrees that it will not copy, reproduce or distribute to others this Memorandum in whole or in part, at any time, without the prior written consent of Hudson Partners, Inc. and BRC Advisors, Inc., and it will keep permanently confidential all information contained herein not already public and will use this Confidential Memorandum only for the purpose of evaluating the possible acquisition of the Property.

This Memorandum does not purport to provide a complete or fully accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information, which prospective buyers may need, or desire. All financial projections are based on assumptions relating to the general economy, competition and other factors beyond the control of the Owner and, therefore, are subject to material variation. This Memorandum does not constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this Memorandum.

This Memorandum is being delivered by Hudson Partners Inc. and BRC Advisors, Inc., to prospective purchasers with the understanding that all prospective purchasers will conduct their own independent investigation of those matters, which they deem appropriate in order to evaluate this offering. Additional information and an opportunity to inspect the site will be made available to interested and qualified prospective purchasers. Hudson Partners, Inc. and BRC Advisors, Inc., reserves the right to request the return of any or all of the information enclosed.

SECTION 1 | EXECU

TIVE OVERVIEW

HUDSON COMMERCIAL PARTNERS, INC. - 76 - HUDSON COMMERCIAL PARTNERS, INC.

PROPERTY INFORMATION

site description Physical description

DESCRIPTION SPECIFICATION

PRICE $960,000

BUILDING SIZE 5,175 SF

PRICE/SF (BLDG) $185.50

RETAIL SF ± 2,795 SF

APARTMENT SF ± 2,380 SF

PARCEL AREA 6,714 SF

PRICE/SF (LOT) $142.98

PARCEL NUMBER 6206-014-012

FLOOR-TO-AREA RATIO 0.42

ZONING SGC3

PARKING ± 10 Spaces

PARKING RATIO 1.93/ 1,000 SF

DESCRIPTION SPECIFICATION

CONSTRUCTION TYPE Woodframe/Stucco

FOUNDATION Concrete Slab

FIRE PROTECTION Fire Extinguisher

HVAC Package Units

METERS Separately Metered

CEILING HEIGHT 11-11.5 Feet

LEASE TERM Month to Month

NUMBER OF STORIES 2 Levels

LANDSCAPING None

YEAR BUILT 1945

TRAFFIC COUNT ± 25,259 Cars Per Day

TENANCY Apartments over Retail

HIGHWAY ACCESS 105 and 170 Freeways

Hudson Partners and BRC Advisors exclusively represent a mixed-use freestanding building in the City of South Gate. This building has two retail

tenants on a month-to-month lease: Party Store and a Bar. There are also two apartments upstairs which are also below market rent and each

unit has a 1 bedroom and 1 bath floor plan. Parking access is shared with the neighboring buildings to the north, which is also available for sale at

$1,265,000. This building does qualify for 90% SBA Financing, if a Buyer intends to occupy the entire ground floor. The current income is $3,810

per month which is approximately $.68 per square foot. These rents are well below market leaving tremendous upside for a new Buyer.

INVESTMENT OVERVIEW - 9622-9624

• 90% Financing Available (SBA)

• Month-to-Month Tenancy

• Live/Work Opportunity

• Secured Rear Parking

• Adjacent Parcels For Sale (17,150 SF Total Land)

• Below Market Rent

LOCATION OVERVIEW

This building is situated mid-block between Kansas

Avenue and Missouri Avenue, on the bustling Long

Beach Boulevard. This is nearby access to the 105 and

170 Freeways.

Note: County Assessor’s provided this measurement 1,851 SF. Our hand measurements showed 5,175 SF. Buyer to conduct its own independent investigators regarding square footage.


SUMMARY TERMS

PRICE $960,000

DOWN PAYMENT (15%) $144,000

GROSS SQUARE FEET 5,175 SF

PRICE PER FOOT ON BUILDING $185.51

LOT SIZE 6,714 SF

PRICE PER FOOT ON LAND $142.98

YEAR BUILT 1945

ZONING SGC3*

DESCRIPTION ESTIMATED PSF

OPERATING EXPENSES

TAXES $12,000 $2.32

INSURANCE $2,239 $0.43

UTILITIES $6,210 $1.20

REPAIRS & MAINTENANCE $4,140 $0.80

CAPITAL RESERVES/MISC $1,294 $0.25

TOTAL OPERATING EXPENSES $25,883 $5.00

DEBT SERVICE $54,075 $10.45

TOTAL OCCUPANCY COSTS $79,958 $15.45

MONTHLY OCCUPANCY COSTS(before tax advantages of ownership) $6,663/MO $1.28 PSF

SUMMARY TERMS

LOAN AMOUNT $816,000

LOAN TYPE SBA Loan

INTEREST RATE 4.5%

AMORITZATION 25 Years

OWNER-USER ESTIMATED ANNUALIZED | USER OCCUPANCY COSTS

LOAN ASSUMPTIONS

USER OCCUPANCY COSTS RENT ROLL - CURRENT

Note: County Assessor’s provided this measurement 1,851 SF. Our hand measurements showed 5,175 SF. Buyer to conduct its own independent investigators regarding square footage.

RETAIL TENANT SQ. FT. RENT PSF LEASE TYPE NNN NNN PSF LEASE EXPIRING OPTION TO RENEW

9622 Party Store +/- 1,085 SF $820 $0.75 Modified Gross $0.00 $0.00 MTM None

9624 Bar +/-1,710 SF $2,060 $1.20 Modified Gross $0.00 $0.00 MTM None

APARTMENT UNIT MIX SQ. FT. RENT PSF WATER/TRASH ELECTRICAL GAS PARKING LAUNDRY

9622 1/2 2 Bedroom + 1 Bath +/- 1,190 $800 $0.67 Landlord Tenant Tenant Free/Rear TBD

9624 1/2 2 Bedroom + 1 Bath +/- 1,190 $130 $0.11 Landlord Tenant Tenant Free/Rear TBD

Montly5,175 SF

$3,810 BASEAVG. PSF$0.68 psf

Annual $45,720


9622 PROPERTY PHOTOS9622 PROPERTY PHOTOS


PLAT MAP AERIAL


RETAIL/STREET LEVEL FLOOR PLANS APARTMENT FLOOR PLANS

16 - HUDSON COMMERCIAL PARTNERS, INC.

ELIZABETH CLARKSenior Vice President

9301 Wilshire Blvd., Suite 206Beverly Hills, CA 90210

Cal BRE: 01811246

CONTACTCELL PHONE310.740.7283

PHONE310.525.3702

FAX320.421.4184

[email protected]

WEBSITEwww.brcadvisors.com

JAY MARTINEZManaging Principal

STUDIO CITY OFFICE11846 Ventura Blvd., #140

Studio City, CA 91604

BEVERLY HILLS OFFICE9301 Wilshire Blvd., Suite 206

Beverly Hills, CA 90210

Cal BRE: 01367663

CONTACTCELL PHONE818.212.3057

PHONE818.699.1603

FAX818.688.8140

[email protected]

WEBSITEwww.hudsonpartnersinc.com

6,714 sf lot 5,175 sf building · tenancy apartments over retail highway access 105 and 170...

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