Gardena, CA - LoopNet · 2019-09-19 · information contained in this Marketing Brochure has been...

1029 W 161st St

Gardena, CA 90247

James Capital Advisors

Marketing Package

1029 w 161ST STGardena, CA

James Capital Advisors 1029 W 161st St

Gardena, CA 90247The Offering

Ample On-Site ParkingThis property has convenient garage, covered and open space parking available for the tenants.

Individually Metered for Gas & ElectricityTenants are responsible for gas and electricity keeping landlord expenses at a minimum.

Secured Gated Access and Camera SystemThe 24-Hour secured gated access and camera system provides enhanced comfort and security for the tenants.

INVESTMENT HIGHLIGHTS

Unique OpportunityTwo Buildings on One Lot.

Terrific Unit MixThe Offering Features a Three-Bedroom Townhouse Unit and Five Spacious Two-Bedroom Units.

1986 ConstructionWell Maintained Asset.

Value-Add OpportunityImmediate Upside with Raising Rents to Market Value.


Gardena, CA 90247The Offering

GAR2

2

2

Master-Metered

Individually Metered

Individually Metered

Wood-frame Stucco

Pitched

Zoning

Buildings

Stories

Water

Electric

Gas

Contruction

Roof

PROPERTY INFOStreet Address

City

State

Zip

No. of Units

Year Built

Rentable SF

APN

1029 W 161st St

Gardena

CA

90247

6

1986

6.086

6113-027-019

FINANCIAL SUMMARYPurchase Price

Current Cap Rate

Pro Forma Cap Rate

Current GRM

Pro Forma GRM

Current NOI

Pro Forma NOI

Price / Unit

Price / SF

$1,700,000

2.65%

6.49%

19.02

10.61

$45,130

$110,266

$283,333

$279.33

1029 W 161st St

Gardena, CA 90247


Income & Expense

Scheduled Rent Income

Laundry Income

Gross Potential Income

Vacancy / Collection Allowance (3%)

Effective Gross Income (EGI)

INCOME

Property Taxes

Insurance

Water

Electricity

Gas

Trash

Internet

Repairs & Maintenance

Reserves & Replacements

Management Fee

Landscaping

Total Expenses

Expenses Per Unit

Expenses Per SF

NET OPERATING INCOME

PRO FORMA

$20,400

$2,434

$4,800

$900

$360

$2,644

$660

$3,000

$1,200

$8,010

$1,080

$45,488

$7,581

$7.47

$110,266

CURRENT

$20,400

$2,434

$4,800

$900

$360

$2,644

$660

$3,000

$1,200

$4,470

$1,080

$41,948

$6,991

$6.89

$45,130

PRO FORMA

$160,200

$360

$160,560

$4,806

$155,754

CURRENT

$89,400

$360

$89,760

$2,682

$87,078

EXPENSES

Income & Expenses


Gardena, CA 90247Rent Schedule

$1.95

$2.26

$2.26

$2.26

$2.26

$2.26

RENT / SF $2,600

$2,150

$2,150

$2,150

$2,150

$2,150

$13,350

PRO FORMA MONTHLY RENT $1.20

$1.26

$1.11

$1.47

$1.16

$1.16

RENT / SF $1,600

$1,200

$1,050

$1,400

$1,100

$1,100

$7,450

CURRENT MONTHLY RENT 3 Bed / 2.5 Bath Twnhs

2 Bed / 1 Bath

2 Bed / 1 Bath

2 Bed / 1 Bath

2 Bed / 1 Bath

2 Bed / 1 Bath

UNIT TYPE 1

2

3

4

5

6

TOTAL

Rent Schedule


Gardena, CA 90247Sales Comparables

Comparable Sale # 02

Price / SF $268

Cap Rate 4.25%

GRM 15.51

COE 7/18/2018

Unit Mix 10 - 2+2

2 - 3+3

Address 14523-14527 S Budlong Ave

Sale Price $3,490,000

No. of Units 12

Total SF 12,988

Year Built 1989

Lot Size (SF) 23,904

Price / Unit $290,833

COMPARABLE SALE #2

Comparable Sale # 01

Price / SF $301

Cap Rate 5.22%

GRM 13.67

COE 11/14/2018

Unit Mix (2) 2 Bed / 1 Bath

(2) 2 Bed / 2 Bath

(1) 3 Bed + 2 Bath

Address 1637 W 158th St

Sale Price $1,550,000

No. of Units 5

Total SF 5,146

Year Built 1979

Lot Size (SF) 10,188

Price / Unit $310,000

COMPARABLE SALE #1

1029 W 161st St

Gardena, CA 90247


Aerial Image


Gardena, CA 90247Demographics

2024 Projection 30,055 209,507 757,517 2,818,261

2019 Estimate 29,600 207,472 751,060 2,785,929

2010 Census 28,108 203,204 740,416 2,701,642

Growth 2019 - 2024 1.54% 0.98% 0.86% 1.16%

Growth 2010 - 2019 5.31% 2.10% 1.44% 3.12%

10 Mile5 Mile3 Mile1 MilePOPULATION

DEMOGRAPHICS

2024 Projection 10,314 66,572 227,226 857,752

2019 Estimate 10,149 65,966 225,446 837,676

2010 Census 9,616 64,892 223,281 811,061

Growth 2019 - 2024 1.63% 0.92% 0.79% 1.20%

Growth 2010 - 2019 5.54% 1.66% 0.97% 3.28%

10 Mile5 Mile3 Mile1 MileHOUSEHOLDS

Avg HH Income $66,777 $76,116 $75,078 $78,335

Med HH Income $49,589 57,592 $55,913 $54,507

10 Mile5 Mile3 Mile1 MileHOUSEHOLDS


Gardena, CA 90247Disclaimer

DISCLAIMERThe information contained in this Marketing Brochure has been obtained from sources believed to be reliable, but the accuracy or completeness of the information contained therein cannot be guaranteed. James Capital Advisors, Inc. & Broker of Record (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees, or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. Therefore, Broker assumes no legal responsibility for accuracy or completeness of this information, and expressly disclaims all representations, guarantees, or warranties related thereto The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction, and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants. A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or comparable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease or may default under the terms of such lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property. Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long-term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.

CONFIDENTIALITYThis Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.

RELEASEThis Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. or Broker be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.

NON-ENDORSEMENTBroker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.

1029 W 161st St

Gardena, CA 90247


Contact Information

Contact Information John KatnikSenior Associate

(424) [email protected] RE Lic. 02002695

Elliot HassanSenior Director


Mike HanassabSenior Director


Gardena, CA - LoopNet · 2019-09-19 · information contained in this Marketing Brochure has been...

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