CORPORATE - Offering Memorandum · 2018. 12. 27. · Adelanto Portfolio, Adelanto, CA SALE....

REAL ESTATE SOLUTIONS

$2,860,000

Adelanto, CA

FEATURES• Well maintained and professionally managed

• Located in an Opportunity Zone

• Diverse unit mix

• Increase rent opportunity

• Each Property is centrally located

• High Growth City

• Near Southern California Logistics Airport a job hub for the area

• Turn Key Property Portfolio

• Ability to implement RUBS and storage income to increase income

AREAAdelanto, Ca

OFFICE

Bob [email protected]

Jerrad [email protected]

JW [email protected]

©2018 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Real Estate Solutions. All rightsreserved. Coldwell Banker Commercial® and the Coldwell Banker Commercial are registered service marksowned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell BankerCommercial Affiliates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Eachoffice is independently owned and operated. The information provided is deemed reliable, but it is notguaranteed to be accurate or complete, and it should not be relied upon as such. This information should beindependently verified before any person enters into a transaction based upon it.

COLDWELL BANKER COMMERCIALREAL ESTATE SOLUTIONS15500 West Sand Street, 2nd Floor, Victorville, CA 92392760.684.8000

CB

CW

OR

LDW

IDE

.CO

M

FO

R S

AL

E

SA

LE

CBCWORLDWIDE.COM

REAL ESTATE SOLUTIONSBob [email protected]



CONFIDENTIALITY AGREEMENT

This offering has been prepared solely for informational purposes. It is designed to assist a potentialinvestor in determining whether it wishes to proceed with an in-depth investigation of the subjectproperty. While the information contained herein is from sources deemed reliable, it has not beenindependently verified by the Coldwell Banker Commercial affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptionsconsidered reasonable under the circumstances. No representations or warranties, expressed orimplied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subjectto modification or withdrawal. The contents herein are confidential and are not to be reproducedwithout the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALLFAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/orafter contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspectand investigate the Property and all improvements thereon, either independently or through agents ofthe buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, toreject all offers, and to accept any offer without regard to the relative price and terms of any other offer.Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated ina formal written contract of purchase and sale to be prepared by the Seller and executed by bothparties; and (iii) approved by Seller and such other parties who may have an interest in the Property.Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase andsale, which contract shall supersede prior discussions and writings and shall constitute the soleagreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property andall other expenses, professional or otherwise, incurred by them.

CBCWORLDWIDE.COM




04 PROPERTY INFORMATION

Property Overview

Additional Photos

Additional Photos

08 LOCATION INFORMATION

Regional Map

10 FINANCIAL ANALYSIS

Financial Summary

Income & Expenses

Rent Roll

15 SALE COMPARABLES

Sale Comps

Sale Comps Summary

Sale Comps Map

Demographics Map & Report

SA

LE


PROPERTYINFORMATIONSECTION 1

OFFICE






CB

CW

OR

LDW

IDE

.CO

M

FO

R S

AL

E

CBCWORLDWIDE.COM




OFFERING SUMMARY

Sale Price: $2,860,000

Number Of Units: 26

Cap Rate: 6.12%

NOI: $174,906

Lot Size: 85,656 SF

Building Size: 18,007 SF

Price / SF: $158.83

PROPERTY OVERVIEW

Multifamily

PROPERTY HIGHLIGHTS

• Well maintained and professionally managed

• Located in an Opportunity Zone

• Diverse unit mix

• 6.12% CAP Rate At List

• Each Property is centrally located

• High Growth City

• Near Southern California Logistics Airport a job hub for the area

• Turn Key Property Portfolio

SA

LE

CBCWORLDWIDE.COM




SA

LE

CBCWORLDWIDE.COM




Address Not Disclosed, Adelanto, CA SA

LE


LOCATIONINFORMATIONSECTION 2

OFFICE






CB

CW

OR

LDW

IDE

.CO

M

FO

R S

AL

E

CBCWORLDWIDE.COM




Adelanto, CA

SA

LE


FINANCIALANALYSISSECTION 3

OFFICE






CB

CW

OR

LDW

IDE

.CO

M

FO

R S

AL

E

CBCWORLDWIDE.COM




INVESTMENT OVERVIEW

Price $2,860,000

Price per Unit $110,000

GRM 9.9

CAP Rate 6.1%

Cash-on-Cash Return (yr 1) 3.61 %

Total Return (yr 1) $70,749

Debt Coverage Ratio 1.21

OPERATING DATA

Gross Scheduled Income $288,600

Other Income 10,4000

Total Scheduled Income $299,000

Vacancy Cost $8,658

Gross Income $290,342

Operating Expenses $115,436

Net Operating Income $174,906

Pre-Tax Cash Flow $30,943

FINANCING DATA

Down Payment $858,000

Loan Amount $2,002,000

Debt Service $143,963

Debt Service Monthly $11,996

Principal Reduction (yr 1) $39,806

Adelanto Portfolio, Adelanto, CA SA

LE

CBCWORLDWIDE.COM




INCOME SUMMARY

Rental Income $288,600Misc Income $10,400

Gross Income $299,000

EXPENSE SUMMARY

Property Tax* $34,606Insurance $6,500Utilities $36,552Payroll & Taxes $15,600Maintenance & Repairs $7,800Gardening/Pool/Pest Control $2,600Management Fee (3%) $8,658Advertising & Promotion $3,120

Gross Expenses $115,436

Net Operating Income $174,906


LE

CBCWORLDWIDE.COM




UNIT

NUMBER

UNIT

BED

UNIT

BATH

UNIT

SIZE (SF)

CURRENT

RENT

CURRENT

RENT (PER SF)

18140-18146 Poinciana 1 1 666 $775 $1.16

2 1 740 $950 $1.28

2 1 740 $950 $1.28

3 2 950 $1,050 $1.11

18242 Cherimoya 2 1 800 $950 $1.19

2 1 800 $950 $1.19

2 1 800 $950 $1.19

2 1 800 $950 $1.19

11336 Chamberlaine Way 2 1 765 $950 $1.24

2 1 765 $950 $1.24

2 1 765 $950 $1.24

12052 Sand Ave 2 1 765 $950 $1.24

2 1 765 $950 $1.24

18149-55 Mimosa Rd 1 1 666 $775 $1.16

2 1 740 $950 $1.28

2 1 740 $950 $1.28

3 2 950 $1,050 $1.11

11443 Sage Ave 1 1 525 $700 $1.33

2 1 725 $950 $1.31

2 1 725 $950 $1.31

11436 Brockman Ave 1 1 525 $700 $1.33

2 1 725 $950 $1.31

2 1 725 $950 $1.31

11895 White Ave 2 1 790 $950 $1.20

2 1 790 $950 $1.20


LE

CBCWORLDWIDE.COM




UNIT

NUMBER

UNIT

BED

UNIT

BATH

UNIT

SIZE (SF)

CURRENT

RENT

CURRENT

RENT (PER SF)

2 1 790 $950 $1.20

Totals/Averages 19,537 $24,050 $1.23


LE


SALECOMPARABLESSECTION 4

OFFICE






CB

CW

OR

LDW

IDE

.CO

M

FO

R S

AL

E

CBCWORLDWIDE.COM




Subject Property

Address Not Disclosed | Adelanto, CA

$2,860,000Sale Price: 18,007 SFBuilding SF:

$158.83Price PSF: 26No. Units:

$110,000Price / Unit: 9.91GRM:

6.12%CAP: $174,906NOI:

Multifamily

1

16621- 16239 Apple Valley RoadApple Valley, CA 92308

$1,455,000Sale Price: 1.09 AcresLot Size:

1988Year Built: 15,540 SFBuilding SF:


$121,250Price / Unit: 10/31/2017Closed:

1

2

16348 Sequoia AveHesperia, CA 92345


10,586 SFBuilding SF: $108.63Price PSF:

10No. Units: $115,000Price / Unit:

09/11/2017Closed:

2

3

11891 1st Ave & 11901 1st AveHesperia , CA 92345





97%Occupancy:

3


LE

CBCWORLDWIDE.COM




4

15430 Culebra Rd #1-69Victorville, CA 92394





97%Occupancy:

4


LE

CBCWORLDWIDE.COM




1

2

3

4

SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS

Address Not DisclosedAdelanto, CA

$2,860,000 18,007 SF $158.83 $110,000 26

SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS

16621- 16239 Apple Valley RoadApple Valley, CA92308

$1,455,000 15,540 SF $93.63 $121,250 12

16348 Sequoia AveHesperia, CA92345

$1,150,000 10,586 SF $108.63 $115,000 10

11891 1st Ave & 11901 1st AveHesperia , CA92345

$1,900,000 15,192 SF $125.07 $118,750 16

15430 Culebra Rd #1-69Victorville, CA92394

$7,425,500 42,588 SF $174.36 $110,828 67

PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS

Totals/Averages $2,982,625 20,977 SF $142.19 $113,623 26.25


LE

CBCWORLDWIDE.COM




Address Not Disclosed | Adelanto, CASUBJECT PROPERTY

1Apple Valley, CA92308

16621- 16239 APPLE VALLEY ROAD 2Hesperia, CA92345

16348 SEQUOIA AVE

3Hesperia , CA92345

11891 1ST AVE & 11901 1ST AVE 4Victorville, CA92394

15430 CULEBRA RD #1-69


LE

CBCWORLDWIDE.COM




POPULATION 1 MILE 5 MILES 10 MILES

Total population 2,096 27,709 151,076

Median age 23.8 26.5 26.7

Median age (Male) 17.8 23.7 25.3

Median age (Female) 29.6 29.8 28.5

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 613 6,567 40,639

# of persons per HH 3.4 4.2 3.7

Average HH income $32,296 $49,830 $59,791

Average house value $230,592 $252,681

ETHNICITY (%) 1 MILE 5 MILES 10 MILES

Hispanic 48.8% 48.2% 48.2%

* Demographic data derived from 2010 US Census


LE

CORPORATE - Offering Memorandum · 2018. 12. 27. · Adelanto Portfolio, Adelanto, CA SALE....

Documents

Transcript of CORPORATE - Offering Memorandum · 2018. 12. 27. · Adelanto Portfolio, Adelanto, CA SALE....