wayne avenue - loopnet · 2019. 12. 20. · 324 north wayne avenue, fullerton, ca 92833...

Property Highlights

E XC L U S I V E L I S T I N G | M U LT I FA M I LY O P P O RT U N I T Y

• 3 Bedroom Detached Home and 1 Bedroom Apartment

• Detached Structures – No Common Walls

• Quiet Residential Street

• Double Car Garage and Additional Spaces

• Copper Plumbing

• Central Air Conditioning in the 3 Bedroom

WAYNE AVENUE

2 UNITS

324 North Wayne Avenue, Fullerton, CA 92833

Specializing in the Sale of Multi-family Properties

4590 MacArthur Boulevard, Suite 260

Newport Beach, CA 92660

(0) 949.251.8800 • (f) 949.251.8899 • morganskenderian.com





This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers. Thematerial contained herein is confidential and the recipient agrees to keep all material contained herein confidential. Theinformation is furnished solely for the purpose of considering investment in the properties described herein and is not tobe copied and or used for any purpose or made available to any other person without the express written consent ofMorgan Skenderian. The information contained herein is not a substitute for a complete and thorough Due Diligenceinvestigation. The information contained in this package has been obtained from sources we believe to be reliable;however, Morgan Skenderian, its agents and Seller have not verified nor made any investigations as to the accuracy ofany information. Morgan Skenderian and Seller makes no warranty or representation whatsoever with regard to theaccuracy or completeness of the information, income or expenses for the subject properties, the square footage of theimprovements, future performance of the properties, the presence or absence of contaminating materials, asbestos,PCB's or molds and funguses or the compliance with the State and Federal laws. Any pro formas, projections, estimatesand assumptions used are for example only and do not necessarily represent the future success or performance of theproperties or real estate market.

DISCLAIMER

324 NORTH WAYNE AVENUEFullerton, CA 92833

PLEASE DO NOT DISTURB TENANTS





DEMOGRAPHICS 1 Mile 3 Miles 5 Miles

Total Households: 6,752 63,022 182,827

Total Population: 19,671 203,942 605,158

Average HH Income: $85,642 $81,086 $75,982

LOCATION OVERVIEW

The city of Fullerton has an exceptionally strong rental market due

to such factors as being home to California State University

Fullerton, Fullerton Junior College, Hope International University,

Marshall B. Ketchum Optometry College, Grace Mission University,

St. Jude Medical Center, Raytheon Company and convenient

freeway access to the 5, 57, and 91 Freeways allowing residents

easy access to Orange and Los Angeles Counties. The City offers

residents numerous employment opportunities, and is in close

proximity to popular entertainment attractions, such as Disneyland

and Knott's Berry Farm.

FINANCIAL OVERVIEWAfter a down payment of $199,750 (25%) Buyer to obtain a loan in

the amount of $599,250 (75%) at a rate of 3.75%. Said loan and

rate will be fixed for 30 years. Monthly payments will be $2,775.22.

PLEASE DO NOT DISTURB TENANTS

PROPERTY DESCRIPTION






The Wayne Avenue duplex is located on a quiet residential street just south

of Chapman Avenue in Fullerton. The main house is a 1,067 square foot 3

bedroom 2 bath single family home. The back 1 bedroom is a permitted 1

bedroom apartment which is next to the garage. The 1 bedroom has a full

bathroom, kitchenette, wall heater, and its own water heater. The double car

garage has been extended and it provides shade and carport parking in front

of the garage. Wayne Avenue is a great neighborhood in Fullerton with tree

lined streets, good school district (Fern Drive Elementary and Sunny Hills

High School) and close proximity to shopping and restaurants.

PROPERTY DESCRIPTION

AMENITIES

• Detached Units (no shared walls)

• Central Air Conditioning in the 3 Bedroom

• Individual Hot Water Heaters

• Garage & Covered Parking

PROPERTY OVERVIEWNumber Of Units: 2

(1) 3BD/2BA(1) 1BD/1BA

Year Built: 1950

Parcel Number: 031-252-02

Parking: Garage and CoveredParking

Exterior: Stucco and Wood

Lot Size: 6,496 SF

Net Rentable SF: 1,667 SF

Utility Metering Separately Metered

Unit Mix:

EXECUTIVE SUMMARY






SUBJECT PHOTOS






Multi-Residential InformationProperty Name No. Units Address City State

Wayne Avenue 2 324 North Wayne Avenue Fullerton CAPrice Cost/Unit GRM: Current Cap: Current Approx. SqFt Lot Size

$799,000 $399,500 19.02 3.5% 1,667 6,496 SFDown Payment Percent Down GRM: Market Cap: Market Cost/SqFt Approx. Age

$199,750 25.0% 17.07 4.1% $479.3 1950

Proposed Financing1st Loan Terms Monthly Pmt New / Ex / Private

$599,250 30 yr Fixed $2,775.25 New

Scheduled IncomeCurrent Rents Market Rents

No. Units No. Bdrms/Baths Approx. Sq.Ft. Mo. Rent/Unit Monthly Income Mo. Rent/Unit Monthly Income(1) 3BD/2BA 1,067 $2,400 $2,400 $2,600 $2,600(1) 1BD/1BA 600 $1,100 $1,100 $1,300 $1,300

Monthly SGI: $3,500 $3,900Annual SGI: $42,000 $46,800

Utilities Paid By Owner:

Annualized Operating DataCURRENTRENTS

MARKETRENTS

Scheduled Gross Income: $42,000 $46,800

Less Vacancy Reserve: 3% $1,260 $1,404

Gross Operating Income: $40,740 $45,396

Less Expenses: 30.8% $12,938 $12,938

Net Operating Income: $27,802 $32,458

Cap Rate: 3.5% 4.1%

Gross Rent Multiplier: 19.02 17.07

Estimated Expenses CURRENT

Property Tax: $8,607

Special Assessments: $359

Insurance: $950

Maintenance: $1,222

Landscaping: $600

Admin/Misc: $1,200Total Expenses: $12,938Expenses as % of SGI: 30.8%Expenses /Unit/Yr: $6,469Expenses /SF/Yr: $7.76

FINANCIAL DETAILS


The above information has been obtained from sources we believe to be reliable, but we do not accept responsibility for its correctness





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wayne avenue - loopnet · 2019. 12. 20. · 324 north wayne avenue, fullerton, ca 92833...

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