Losness Group – Your local Apartment Specialist · [email protected] 3131 S Bascom Ave. ......

Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]

3131 S Bascom Ave. Suite 230Campbell, CA 95008

2022 Alum Rock Ave San Jose 95116

www.losnessgroup.com

Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]

2022 Alum Rock Ave‐San Jose CA 95116

Losness Group – Your local Apartment SpecialistFamily owned and operated since 2006






Disclosures

• The information contained in the following Marketing Presentation is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Losness Group and should not be made available to any other person or entity without the written consent of Losness Group. This Marketing Brochure is intended to be used for the sole purpose of preliminary evaluation.

• This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Losness Group has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.

• The information contained in this Marketing Presentation has been obtained from sources we believe to be reliable; however, Losness Group has not verified, and will not verify, any of the information contained herein. Losness Group makes no representation or warranty regarding the property, including but not limited to: income, expenses, or financial performance (past, present or future); size, square footage, condition of property. Losness Group has not conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Any potential buyer must independently investigate and verify all information set forth in Marketing Presentation and is solely responsible for all costs and expenses incurred in reviewing the Marketing Presentation and/or investigating and evaluating the property.






Value Assessment

• 2022 Alum Rock Ave San Jose CA 95116:

• Average PPSF: $557.34=$1,058,946

• AVERAGE YEARLY LPPSF: $32.57=$61,883

• AVERAGE CAP RATE: 5.03%

• Property Value Range: $1,150,000-$1,275,000

• Property Value: $1,200,000






Table of Contents

Section 1Property Description

Section 2Investment Summary & Analysis

Section 3Sales Comparables

Section 4Market Overview

Section 5Losness Group Marketing and Resume






Property Description






Property Profile

Zoning R2

Foundation Concrete Perimeter

Framing Wood

Exterior Wood Panel

Parking Surface Concrete

Roof Composition

Parking Garage/Off Street/Street

Location San Jose

Year Built 1948

Property Address 2022 Alum Rock Ave

Major Cross Street N Jackson Ave

Parcel Number 230-21-041

Number of Units Possible Two Store Fronts

Number of Buidings 1

Number of Stories One Story Building

Unit Mix 2

Gross Living Area 1,632 SF

Lot Size 6,098 SF






95116 Zip Code Map






Local Map

728 Drake St. San Jose 951251091-95 Myrtle St. San Jose CA 95126SUBJECT PROPERTY






Regional Map

356-358 Morse Ave Sunnyvale CA 94085728 Drake St. San Jose 95125

702-704 Borello Way Mt. View CA 94041

1091-95 Myrtle St. San Jose CA 95126

SUBJECT PROPERTY






Parcel Map






Aerial Map

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Exterior Photos






Investment Summary & Analysis






Property Highlights

• Retail Storefront Great Location

• Two Separate Office Spaces

• Private Parking in Back

• Street Front Guest Parking

• Warehouse/Garage Attached

• Storage Unit in Back

• Office Space 1,900 Square Feet

• Duel Entrance for Warehouse

• Bathroom/Kitchen Space






Location Overview

As the Hub of Silicon Valley, San Jose is a populardestination for business travelers and tourist. Visitorsfind many amenities in the City's revitalizeddowntown area including fine accommodations andworld class restaurants and shops. Founded onNovember 29, 1777, as El Pueblo de San Jose deGuadalupe, San José was California’s first civiliansettlement. San José was also the site of the first statecapital. With the booming tech industry in the 1990s,San José earned its moniker as the Capital of SiliconValley. With more than one million residents, San Joséis the largest city in Northern California and the 10thlargest city in the United States.

INCORPORATED: March 27, 1850 (as City of San Jose)Incorporated area = 180.2 square miles






Sales Comparables






Leasable Square Feet Comparables2230‐2232 Alum Rock Ave‐San Jose 95116

1530 Alum Rock Ave‐San Jose 95116

Lease Price Per/Year: $36.00

Equivilency to Subject: $68,400

Price/SF $3.00Equivilency to Subject: $5,700

Gross Leasable SF: 5,889 Year Built: 2013










Leasable Square Feet Comparables140‐160 S Jackson Ave‐San Jose 95116









Gross Leasable SF: 985 Year Built: 1987






Leasable Square Feet Comparables158 S King Rd‐San Jose 95116

1747‐1795 Alum Rock Ave‐San Jose 95116














Active Comparables

1152 E Julian St‐San Jose CA 95116


Property: Retail CAP Rate: 6%

List Price: $1,288,888 Price/SF: $1,145.68

SqFt/Lot: $1,125/5,655 Year Built: 1968

3 Rentable Units, Rents: $4,673; $1,429; $1,100. Total Income: Monthly=$7,202; Anual=$86,434. NOI=$74,640

Property: Retail CAP Rate: No Info

List Price: $1,400,000 Price/SF: $1,204.82

SqFt/Lot: $1,162/18,700 Year Built: 1978

No Income Information






Sold Comparables



Type: Retail Storefront COE Date: 9/21/2017

List Price: $1,825,000 Price/SF: $329.69

Sales Price: $1,750,000 Year Built: 1979

Sq.Ft.=5,308/Lot=10,960. LPPSF=$2.60. Days on Market: 120 Days. Escrow Legnth: 70 Days. Tenants: Alum Rock Beauty Supply; Popular Bakery.


List Price: Not Provided Price/SF: $316.33


Sq.Ft.=4,900/Lot=31,810. LPPSF=$2.70. Days on Market: Unknown. Escrow Legnth: 12 Days. Tenants: Nuevo Kora. CAP Rate: 6.45%. Expenses=$15,481; Income:$99,923






Sold Comparables






Sq.Ft.=3,480/Lot=20,473. LPPSF=$2.98. Days on Market: 110 Days. Escrow Legnth: 60 Days. Tenants: Crackin Crab Corp; Pho 54. NOI=$80,111; No Expenses; CAP: 4.85%


List Price: Not Provided Price/SF: $348.94


Sq.Ft.=4,700/Lot=11,761. LPPSF=$1.90. Days on Market: Unknown. Escrow Legnth: Unknown. Tenants: Benjamin Moore Paints. No Financial Information.






Sold Comparables


855 N 13th St‐San Jose 95112




Sq.Ft.=1,298/Lot=10,960. LPPSF=$3.00. Days on Market: 8 Months. Escrow Legnth: 60 Days. Tenants: Yummy Trieu; Chef P’s. NOI=$50,400; No Expenses; CAP: 4.20%




Sq.Ft.=1,321/Lot=16,086. LPPSF=$2.70. Days on Market: 56 Days. Escrow Legnth: 50 Days. Tenants: Savoy Bar & Grill. NOI: $65,064. Expenses: $12,950. CAP: 5.43%






SUBJECT PROPERTY






Market Overview

Losness Group – Your local Apartment Specialist · [email protected] 3131 S Bascom Ave. ......

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Transcript of Losness Group – Your local Apartment Specialist · [email protected] 3131 S Bascom Ave. ......