Post on 08-Oct-2020
1001 BROXTON AVEWESTWOOD, CA 90024
OFFERING MEMORANDUM | EVALUATED AT $1,300,000
INVESTMENT OPPORTUNITYTRI-PLEX IN WEST ADAMS2005 CONSTRUCTION
1476 W 35TH ST.LOS ANGELES, CA 90018
TABLE OF CONTENTS
SECTION ONE 04EXECUTIVE PROFILE
SECTION TWO 10PROPERTY INFORMATION
HUDSON COMMERCIAL PARTNERS INC.INVESTMENT BROKERAGE
It is often noted that the standards of service begin with the business’ ownership. So it is worth noting here that the owners of Hudson Commercial Partners, Inc., are the brokers that you are considering as your representative. As such, we have a heavily vested interest in the successful completion of your assignments and transactions and in providing you with the ongoing service that leads to solid working relationships.
We are committed to the belief that responsive, attentive, focused service is the link that connects professionalism with success. But, we recognize that our commitment to services must be proven and your confidence earned. We look forward to having that opportunity on this assignment.
WHO WE ARE
The principals at Hudson Commercial Partners, Inc. have worked at the country’s top brokerage firms over the years, and their paths had crossed on several occasions. They found that, while each brought a distinct skill set to the table, they shared an approach that emphasized superior service and a results-oriented focus that produced consistent positive results. The three quickly realized that, working as a team, they could offer clients broad-based expertise combined with a synergy that proved highly effective in the successful and swift completion of transactions. The founders then set about to build a powerful roster of team members representing a unique set of skills and expertise while maintaining their singular orientation to exceeding clients’ expectations and Hudson Commercia Partners was born. This team approach has proven to be highly effective, resulting in the successful completion of more than $2 Billion in transactions while meeting even the most complex of clients’ needs.
© 2018 Hudson Commercial Partners, Inc. The information contained in this document has been obtained from sources believed reliable. While Hudson Commercial 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. 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.
USC CAMPUS - 1.3 MILES FROM SUBJECT PROPERTY
SECTION 1 | EXECU
TIVE OVERVIEW
ELMER AV
E
RIVERSIDE DR
EX
PO
LIN
E
SUBJECT PROPERTY
W ADAMS BLVD
W JEFFERSON BLVD
S NO
RMA
ND
IE AVE
W JEFFERSON BLVD
S WESTERN
AVE
VERM
ON
T AVE
EXPOSITION BLVD
EXPO LINE
EXPO WESTERN STATION
EXPO VERMONT STATION
LUCAS MUSEUM OF NARRATIVE ART
HUDSON COMMERCIAL PARTNERS, INC. - 76 - HUDSON COMMERCIAL PARTNERS, INC.
PROPERTY DESCRIPTION
site description SITE description
PROPERTY INFORMATION
DESCRIPTION SPECIFICATION
TOTAL BUILDING SIZE 3,780 SF
TOTAL PARCEL AREA 6,798 SF
APN 5041-009-014
NUMBER OF UNITS 3 Units
NUMBER OF FLOORS 2 Story
FAR 0.55 Building-to-Land
ZONING RD2-1-0
PARKING 7 Spaces
YEAR BUILT 2005
DESCRIPTION SPECIFICATION
CONSTRUCTION TYPE Wood-Frame Stucco
ROOF Pitched
FOUNDATION Raised
LANDSCAPING Garden
WATER Landlord
ELECTRIC Tenant
GAS Tenant
TOPOGRAPHY Flat
TOTAL LOT DIMENSIONS 50’ x 136’
STREET FRONTAGE 50 Feet on W 35th Street
HIGHWAY ACCESS 10 and 110 Freeways
Hudson Partners is pleased to present 1476 West 35th Street, a tri-
plex located in the highly sought-after, transitioning area of West
Adams, and located within walking distance of the University of
Southern California campus. Built in 2005, the 3,780 square foot
building consist of an excellent unit mix of two spacious 3 bedroom 1
bath units, including one vacant, and a 4 bedroom 1 bath unit. There
is ample parking with 7-8 parking spaces.
This stable income property is strategically located directly in the
path of growth, within walking distance of the Expo/Western and
Expo/Vermont light rail stations, the USC Campus, and the $1 Billion
project currently under construction to house the Lucas Museum of
Narrative Arts.
PROPERTY HIGHLIGHTS
• Student Housing Potential
• 2005 Construction
• University of Southern California Adjacent
• Located in Transitioning West Adams Area
• Tier 1 TOC Site - 35% Density Bonus
• Large Units
• Rental Upside
DESCRIPTION SPECIFICATION
PRICE PER UNIT $433,333
COVERAGE TOC 35% Increase
PARKING TOC 0.5 Per Unit
RENT CONTROL Yes
SETBACKS 30% Decrease
TYPOGRAPHY Flat
SITE description
HUDSON COMMERCIAL PARTNERS, INC. - 98 - HUDSON COMMERCIAL PARTNERS, INC.
1476 - FINANCIAL ANALYSIS
FINANCIAL INDICATORS
DESCRIPTION SPECS
Offering Price $1,300,000
Current CAP 4.32%
Market CAP 5.3%
Current GRM 13.7
Market GRM 11.8
Cost Per SF $343
Cost Per Unit $433,333
Cash on Cash Return 4.32%
Expenses Per Unit $8,038
Expenses Per Sq Ft $6.37
BUILDING DATA
Units 3
Year Built 2005
Total Land Sq Ft 6,798 SF
PSF on Land $166.80
Total Bldg Sq Ft 3,780 SF
PSF on Building $343
Parking Spaces 7
SOURCE OF INCOME
# OF UNITS BDR/BATHS UNIT SF AVERAGERENT TOTAL AVERAGE
RENT INCOME
1 3 bed + 1bath (Vacant) $2,500 $2,500 $2,500 $2,500
1 3 bed + 1bath (Sec.8) $1,500 $1,500 $2,500 $2,500
1 4 bed + 1bath $2,900 $2,900 $3,350 $3,350
RENTAL INCOME $6,900 $8,000
LAUNDRY INCOME $0 $0
TOTAL MONTHLY INCOME $6,900 $8,000
TOTAL ANNUAL INCOME $82,800 $96,000
ESTIMATED ANNUALIZED EXPENSES
New Property Taxes $14,175
Utilities - Water $5,000
House Electrical $500
Property Insurance $1,890
Repairs & Maintenance $2,250
Pest Control $600
Misc. $300
TOTAL ESTIMATED EXPENSES $24,715
EST. ANNUALIZED OPERATING DATACURRENT MARKET
Scheduled Gross Income $82,800 $96,000
Less Vacancy 3.0% ($2,484) 3.0% ($2,880)
Gross Operating Income $80,316 $93,120
Less Expenses 30.7% ($24,715) 26.5%% ($24,715)
NET OPERATING INCOME $55,601 $68,405
CURRENT RENTS MARKET RENTS
SECTION 2 | PRO
PERTY INFO
RMATIO
N
BELLFLOWER AVE
LOS ANGELES MEMORIAL COLISEUM - 1.2 MILES FROM SUBJECT PROPERTY
HUDSON COMMERCIAL PARTNERS, INC. - 1312 - HUDSON COMMERCIAL PARTNERS, INC.
AERIAL OVERVIEW
SUBJECT PROPERTY1476 W 35TH ST., LOS ANGELES, CA 90018
6,798 SFLOT
50’
136’
PLAT MAP
HUDSON COMMERCIAL PARTNERS, INC. - 1514 - HUDSON COMMERCIAL PARTNERS, INC.
HUDSON COMMERCIAL PARTNERS, INC. - 1716 - HUDSON COMMERCIAL PARTNERS, INC.
HUDSON COMMERCIAL PARTNERS, INC. - 1918 - HUDSON COMMERCIAL PARTNERS, INC.
DEPARTMENT OF CITY PLANNING GENERALIZED SUMMARY OF ZONING REGULATIONS
Updated June 2019
CP-7150 (6/12/19) Page 2
Table 1 – General Development Standards
Zone Use Maximum Height Required Yards Minimum Area
Min. Lot Width
Parking Required Stories Feet Front Side Rear Per Lot Per Dwelling
Unit RU 30 ft 10 ft 3 ft (9) 10 ft 3,500 sq-ft n/a 35 ft 2 covered
parking spaces per dwelling
unit RZ2.5
Residential Zero Side Yard
45 ft (9) 10 ft min Zero (3); 3 ft +1 ft for each story
over 2nd
Zero (3) or 15 ft
2,500 sq-ft 30 ft, w/ driveway; 25 ft w/o driveway; 20 ft on flag,
curved or cul-de-sac lot
RZ3 3,000 sq-ft
RZ4 4,000 sq-ft
RW1 One-Family Residential Waterways
One-Family Dwellings, Home Occupations (10)
30 ft 10% lot width; 3 ft min
15 ft 2,300 sq-ft 28 ft
Multiple Residential R2 Two-Family Dwellings
R1 Uses, Home Occupations Unlimited
(9) 45 ft
or (6a), (7), (9) 20% lot depth; 20 ft max, but not less than
prevailing
5 ft; or 10% lot width where lot is < 50 ft wide; 3 ft
min (7); additional 5 ft offset required for side walls >45
ft long & >14 ft high
15 ft 5,000 sq-ft 2,500 sq-ft 50 ft 2 spaces, one covered
RD1.5 Restricted Density Multiple Dwelling
One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations
15 ft 5 ft; or 10% of lot width where lot is less than <50 ft
wide; 3 ft min; +1 ft for each story over 2nd, not to
exceed 16 ft (6a)
15 ft 1,500 sq-ft 1 space per unit < 3 habitable rooms; 1.5
spaces per unit = 3 habitable
rooms; 2 spaces per unit > 3 habitable
rooms; uncovered (6a) 1 space each guest room
(first 30)
Bicycle Parking pursuant to
Sec. 12.21 A.16 of the LAMC
RD2 2,000 sq-ft
RD3 10% of lot width, 10 ft max; 5 ft min
(6a)
6,000 sq-ft 3,000 sq-ft 60 ft
RD4 8,000 sq-ft 4,000 sq-ft
RD5 20 ft 10 ft (6a)
25 ft 10,000 sq-ft 5,000 sq-ft 70 ft
RD6 12,000 sq-ft 6,000 sq-ft
RMP Mobile Home Park Home Occupations
45 or (9)
20% lot depth, 25 ft max
10 ft 25% lot depth, 25 ft
max
20,000 sq-ft 20,000 sq-ft 80 ft 2 covered spaces per
dwelling unit
Bicycle Parking pursuant to
Sec. 12.21 A.16 of the LAMC
RW2 Two-Family Residential Waterways
One-Family Dwellings, Two-Family Dwellings, Home Occupations
10 ft 10% lot width; 3 ft min; +1 ft for each
story over 2nd
15 ft 2,300 sq-ft 1,150 sq-ft 28 ft
DEPARTMENT OF CITY PLANNING GENERALIZED SUMMARY OF ZONING REGULATIONS - RD2 TOC ZONING MAP
HUDSON COMMERCIAL PARTNERS, INC. - 2120 - HUDSON COMMERCIAL PARTNERS, INC.
HUDSON COMMERCIAL PARTNERS, INC. - 2322 - HUDSON COMMERCIAL PARTNERS, INC.
Retail Adjacent to the NFL StadiumNext to the $4.9 billion stadium will be a 238-acre neighborhood and shopping
complex with thousands of homes, plus new stores, restaurants, and a hotel.
CALIFORNIA AFRICAN AMERICAN MUSEUM - 1.7 MILES FROM SUBJECT PROPERTY
26 - HUDSON COMMERCIAL PARTNERS, INC.
1476
HUDSON COMMERCIAL PARTNERS, INC. - 2928 - HUDSON COMMERCIAL PARTNERS, INC.
LUCAS MUSEUM OF NARRATIVE ART RENDERING - 1.2 MILES FROM SUBJECT PROPERTY
JAY MARTINEZManaging Principal
11846 Ventura Blvd.Suite 140Studio City, CA 91604
Cal BRE: 01367663
CONTACT
C: 310.658.3357P: 818.699.1603F: 818.688.8140
E: jay@hudsonpartnersinc.comwww.hudsonpartnersinc.com
DARIN SPILLMANPresident
11846 Ventura Blvd.Suite 140Studio City, CA 91604
Cal BRE: 01366902
CONTACT
C: 310.592.8269P: 818.699.1605F: 818.688.8140
E: darin@hudsonpartnersinc.comwww.hudsonpartnersinc.com
MICHAEL CRISWELLBusiness Development
11846 Ventura Blvd.Suite 140Studio City, CA 91604
CONTACT
C: 323.559.1936F: 818.688.8140
E: michael@hudsonpartnersinc.comwww.hudsonpartnersinc.com