exclusive multifamily offering 7315 cortland ave....beautiful, 2-bed/1-ba house with a granny flat...

2 UNITS$550,000

CAMERON SAMIMI3 1 0 . 2 5 9 . 7 5 5 6

[email protected]

E X C L U S I V E M U L T I F A M I L Y O F F E R I N G

7315 CORTLAND AVE.PARAMOUNT, CA 90723

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TABLE OF CONTENTS

PROPERTY INFORMATION 3

THE FINANCIALS 9

SALE COMPARABLES 12

TABLE OF CONTENTSE X C L U S I V E M U L T I F A M I L Y O F F E R I N G


SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 2

PROPERTYINFORMATION




PROPERTY DESCRIPTIONBeautiful, 2-Bed/1-Ba House with a Granny Flat located at 7315 Cortland Ave.

in Paramount. The 1,104 Sq.Ft property is sitting on a massive, 5,853 Sq.Ft. Lot

with very spacious front and back yards.

Cortland Ave. has a Main House that is comprised of 2-Bedrooms and 1-Ba,

and is equipped with hardwood flooring. The unit is being rented out for $1,650

a month. There is an additional 200 Sq.Ft of living area that comes from a

permitted Sunroom at the front of the House. Furthermore, Cortland Ave.

comes with a Granny Flat, which is a converted garage, and is being currently

rented out as a studio space for $700 a month. There is plenty of Outdoor and

“Lounge” space, with two separate patios and a roomy backyard grass area.

Conveniently located next to the LA River walk, the duplex is also only one

block away from the charming Paramount Community Garden and Century

Equestrian Corp. Sitting on a very quiet street, Cortland Ave. has incredible

transit access, being located directly off of the 105 and 710 Freeways, and is in

the highly coveted Hollydale School District.

THE PROPERTYE X C L U S I V E M U L T I F A M I L Y O F F E R I N G



LOCATION INFORMATIONPrice $550,000

Address 7315 Cortland Ave.

City, State, Zip Paramount, CA 90723

BUILDING INFORMATIONYear Built 1958

Number of Units 2

Building Size 1,104 Sq.Ft

Lot Size 5,853 Sq.Ft

Current CAP 2.93%

Current GRM 19.50

Market CAP 4.08%

Market GRM 15.83

Unit Mix (1) 2Bed + 1Ba(1) Studio

PROPERTY HIGHLIGHTS• Beautiful, income producing asset comprised of (1) 2-Bed/1-Ba Home & (1) Studio

(Granny Flat) on very quiet street

• 1,104 Sq.Ft property sitting on a massive 5,853 Sq.Ft Lot

• Spacious, grassy backyard which includes two separate side patios, ideal for lounge

situations

• Both units have plenty of upside in rental income available

• Great transit access, located directly off the 105 and 710 Freeways

• Conveniently located next to the LA River Walk, Paramount Community Garden, and

Century Equestrian Corp

THE PROPERTYE X C L U S I V E M U L T I F A M I L Y O F F E R I N G

$550,000PARAMOUNT, CA 90723


PROPERTY MAPE X C L U S I V E M U L T I F A M I L Y O F F E R I N G



PHOTOSE X C L U S I V E M U L T I F A M I L Y O F F E R I N G



THEFINANCIALS




UNITNUMBER

UNITBED

UNITBATH

CURRENTRENT

MARKETRENT

1 2 1 $1,650 $1,895

2 0 1 $700 $1,000

TOTALS/AVERAGES $2,350 $2,895

RENT ROLLE X C L U S I V E M U L T I F A M I L Y O F F E R I N G



7315 Cortland Ave., Paramount 90723 Annualized Operating Data Current Rents Market RentsList Price: $550,000 Scheduled Gross Income: 28,200$ 34,740$

Down Payment: 35.0% $192,500 Vacancy Rate Reserve: 1,410$ 5% 1 1,737$ 5% 1

Number of units: 2 Gross Operating Income: 26,790$ 33,003$

Cost per Unit: $275,000 Expenses: 11,251$ 40% 1 11,251$ 32% 1

Current GRM: 19.50 Net Operating Income: 15,539$ 21,752$

Market GRM: 15.83 Loan Payments: 20,481$ 20,481$

Current CAP: 2.83% Pre Tax Cash Flows: (4,943)$ -2.57% 2 1,270$ 0.66% 2

Market CAP: 3.95% Principal Reduction: 6,296$ 6,296$

Year Built / Age: 1958 Total Return Before Taxes: 1,353$ 0.70% 2 7,566$ 3.93% 2

Approx. Lot Size: 5,853Approx. Gross RSF: 1,104 1 As a percent of Scheduled Gross Income 2 As a percent of Down Payment

Cost per Net RSF: $498.19

Proposed Financing Scheduled Income:First Loan Amount: $357,500 Amort: 30Terms: 4.000% Fixed: 5 # of Bdrms/ Notes Monthly Total Monthly Monthly TotalPayment $1,707 DCR: 0.76 Units Baths Rent/Average Income Rent/Unit Income

1 2+1 1,650$ 1,650$ 1,895$ 1,895$

Annualized Expenses: 1 0+1 700$ 700$ 1,000$ 1,000$ *EstimatedNew Taxes (New Estimated): 6,655$ Maintenance (5%): 1,410$ Insurance ($.35/SF): 386$ Utilities ($800/unit/year): 1,600$ Landscaping ($100/mo): 1,200$

Total Scheduled Rent: $2,350 $2,895Laundry $0 $0

Total Expenses: $11,251 Garages $0 $0Expenses as %/SGI 39.90% Monthly Scheduled Gross Income: $2,350 $2,895Per Net Sq. Ft: $10.19 Annualized Scheduled Gross Income: $28,200 $34,740Per Unit: $5,626 Utilities Paid by Tenant: Gas & Electric

Current Income Market Income

FINANCIAL ANALYSISE X C L U S I V E M U L T I F A M I L Y O F F E R I N G



SALECOMPARABLES




16018 FLORENCE AVE.South Gate, CA 90280

$595,000Sale Price: 03/10/2020Closed: $416.38Price PSF:1,429 SFBuilding SF: 1942Year Built: 7,515 SFLot Size:

1

25750 HARDING AVE.South Gate, CA 90280


2

35723 FLORENCE AVE.Hollydale, CA 90280


3

SALE COMPSE X C L U S I V E M U L T I F A M I L Y O F F E R I N G



412107 UTAH AVE.South Gate, CA 90280


4

55724 JEFFERSON AVE.South Gate, CA 90280

$496,000Sale Price: 01/09/2020Closed: $576.07Price PSF:861 SFBuilding SF: 1942Year Built: 6,502 SFLot Size:

5

65727 MAIN ST.South Gate, CA 90280


6




712106 UTAH AVEHollydale, CA 90280


7

811719 UTAH AVE.South Gate, CA 90280


8

912004 OKLAHOMA AVE.South Gate, CA 90280


9




SALE COMPS MAPE X C L U S I V E M U L T I F A M I L Y O F F E R I N G



1South Gate, CA90280

6018 FLORENCE AVE. 2South Gate, CA90280

5750 HARDING AVE.

3Hollydale, CA90280

5723 FLORENCE AVE. 4South Gate, CA90280

12107 UTAH AVE.


5724 JEFFERSON AVE. 6South Gate, CA90280

5727 MAIN ST.

7Hollydale, CA90280

12106 UTAH AVE 8South Gate, CA90280

11719 UTAH AVE.


12004 OKLAHOMA AVE.

7315 Cortland Ave. | Paramount, CA 90723SUBJECT PROPERTY

SALE COMPS MAPE X C L U S I V E M U L T I F A M I L Y O F F E R I N G



Closed (Past Year)

Address Price Yr. Built RSF PPSF COE

6018 Florence Ave. $595,000 1942 1,429 $416.38 3/10/2020

5750 Harding Ave. $555,000 1941 1,282 $432.92 7/15/2019

5723 Florence Ave. $550,000 1942 1,215 $452.67 8/1/2019

12107 Utah Ave. $520,000 1942 1,069 $486.44 9/9/2019

5724 Jefferson Ave. $496,000 1942 861 $576.07 1/9/2020

5727 Main St. $493,000 1943 885 $557.06 5/11/2020

12106 Utah Ave. $480,000 1944 990 $484.85 7/15/2019

11719 Utah Ave. $475,000 1942 880 $539.77 6/12/2019

12004 Oklahoma Ave. $457,000 1929 816 $560.05 1/28/2020

Average $500.69

7315 Cortland Ave. $550,000 1958 1,104 $498.19

SALES COMPS ANALYSISE X C L U S I V E M U L T I F A M I L Y O F F E R I N G



EXCLUSIVELY MARKETED BY

CAMERON SAMIMI310.259 .7556

[email protected]. 02035763

exclusive multifamily offering 7315 cortland ave....beautiful, 2-bed/1-ba house with a granny flat...

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