1476 W 35TH ST. 1001 BROXTON AVE LOS ANGELES, CA 90018 · 1476 w 35th st. los angeles, ca 90018....

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


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


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


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


AERIAL OVERVIEW

SUBJECT PROPERTY1476 W 35TH ST., LOS ANGELES, CA 90018

6,798 SFLOT

50’

136’

PLAT MAP


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

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


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: [email protected]

DARIN SPILLMANPresident


Cal BRE: 01366902

CONTACT

C: 310.592.8269P: 818.699.1605F: 818.688.8140


MICHAEL CRISWELLBusiness Development


CONTACT

C: 323.559.1936F: 818.688.8140


1476 W 35TH ST. 1001 BROXTON AVE LOS ANGELES, CA 90018 · 1476 w 35th st. los angeles, ca 90018....

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