Mobile Homes on 7th - LoopNet · Mobile Homes on 7th Income & Expense Analysis | 08 INCOME CURRENT...
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Mobile Homes on 7th 4815 s 7th st Phoenix, AZ 85040 OFFERING MEMORANDUM
Transcript of Mobile Homes on 7th - LoopNet · Mobile Homes on 7th Income & Expense Analysis | 08 INCOME CURRENT...
Mobile Homes on 7th
4815 s 7th stPhoenix, AZ 85040
OFFERING MEMORANDUM
Mobile Homes on 7thCONTENTS
Exclusively Marketed by:
Laura Good Lee GarnerRealtor: Commercial / Multi-Family Specialist Realtor: Commercial / Multi-Family Specialist(480) 406-1984 480-765-0292License # SA639563000 License # [email protected] [email protected]
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.
01 Executive Summary Investment Summary 4 Location Summary 5
02 Property Description Aerial Map 6
03 Rent Roll Rent Roll Details 7
04 Financial Analysis Income & Expense Analysis 8 Multiyear Cash Flow Assumptions 9 Cash Flow Analysis 10
05 Demographics Demographics 12 Demographic Charts 13
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from SJ Fowler Real Estate and itshould not be made available to any other person or entity without the written consent of SJ Fowler Real Estate. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees thatrecipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to SJ Fowler RealEstate. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level ofinterest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. SJ Fowler Real Estate has not made any investigation, and makes no warranty or representation withrespect 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 presenceor absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition orbusiness prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe reliable; however, SJ Fowler Real Estate has not verified, and will not verify, any of theinformation contained herein, nor has SJ Fowler Real Estate conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy orcompleteness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costsand expenses of investigating the subject property.
Mobile Homes on 7th Confidentiality and Disclaimer | 03
CONFIDENTIALITY AND DISCLAIMER
PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT SJ FOWLER REAL ESTATE FOR MORE DETAILS.Copyright © 2019 CREOP, LLC. All Rights Reserved.
Mobile Homes on 7th Investment Summary | 04
OFFERING SUMMARYADDRESS 4815 s 7th st
Phoenix AZ 85040
COUNTY Maricopa
APN 113-47-033
OWNERSHIP TYPE Fee Simple
FINANCIAL SUMMARYOFFERING PRICE $569,000
OCCUPANCY 100.00 %
NOI (CURRENT) $47,564
NOI (Pro Forma) $68,649
CAP RATE (CURRENT) 8.36 %
CAP RATE (Pro Forma) 12.06 %
GRM (CURRENT) 9.33
GRM (Pro Forma) 6.94
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2019 Population 17,007 105,040 237,377
2019 Median HH Income $34,048 $44,433 $42,764
2019 Average HH Income $45,605 $62,553 $62,877
Room for higher rents on more than half of the units!
Easily a 10 CAP within a years time!
Brick home has been remodeled in 2019!
Sewer had considerable work in 2009!
This is a 12 space Mobile home park with an additional brick home.Making a total of 13 rentals. As it sits right now it is a real 8.5 CAP. Spacenumber 7 is vacant with utilities on site ready for another Mobile homeand tenant, which would effectively raise the income by 450-500/monthconservatively.
Right now there are 11 spaces rented with tenant owned homes. 5 at450, 5 at 400 and 1 at 250/month plus the brick home which has a verylong term tenant at 550 which is low! The Brick home has beenremodeled, new cabinetry, paint, plumbing, and eves. Owners areinstalling mailboxes for each unit also. All tenants are paying on time! Toour knowledge the Majority of tenants have been in these spaces andhomes for 5-15+ years!
Mobile Homes on 7th Location Summary | 05
In South mountain area, near much development in localareas!
Regional Map
Locator Map
Mobile Homes on 7th Aerial Map | 06
Mobile Homes on 7th Rent Roll Details | 07
Mobile Homes on 7th Income & Expense Analysis | 08
INCOME CURRENT PRO FORMA
Gross Potential Rent $60,960 $73,200
RUBS $8,845
Effective Gross Income $60,960 $82,045
Less: Expenses $13,396 $13,396
Net Operating Income $47,564 $68,649
EXPENSES CURRENT PRO FORMA
Real Estate Taxes $1,850 $1,850
Insurance $1,500 $1,500
Water / Sewer $5,270 $5,270
Landscaping $1,200 $1,200
Other Expenses $3,576 $3,576
Total Operating Expense $13,396 $13,396
% of EGI 21.98 % 16.33 %
REVENUE ALLOCATION
DISTRIBUTION OF EXPENSES
Mobile Homes on 7th Multiyear Cash Flow Assumptions | 09
GLOBALSale Price $569,000
Mobile Homes on 7th Cash Flow Analysis | 10
CASH FLOWCalendar Year CURRENT Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Gross Potential RevenueGross Rental Income $60,960 $73,200 $73,200 $73,200 $73,200 $73,200 $73,200 $73,200 $73,200 $73,200RUBS $8,845 $8,845 $8,845 $8,845 $8,845 $8,845 $8,845 $8,845 $8,845Gross Potential Income $60,960 $82,045 $82,045 $82,045 $82,045 $82,045 $82,045 $82,045 $82,045 $82,045Effective Gross Income $60,960 $82,045 $82,045 $82,045 $82,045 $82,045 $82,045 $82,045 $82,045 $82,045Operating ExpensesReal Estate Taxes $1,850 $1,850 $1,850 $1,850 $1,850 $1,850 $1,850 $1,850 $1,850 $1,850Insurance $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500Water / Sewer $5,270 $5,270 $5,270 $5,270 $5,270 $5,270 $5,270 $5,270 $5,270 $5,270Landscaping $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200Other Expenses $3,576 $3,576 $3,576 $3,576 $3,576 $3,576 $3,576 $3,576 $3,576 $3,576Total Operating Expense $13,396 $13,396 $13,396 $13,396 $13,396 $13,396 $13,396 $13,396 $13,396 $13,396Net Operating Income $47,564 $68,649 $68,649 $68,649 $68,649 $68,649 $68,649 $68,649 $68,649 $68,649
Effective Gross Income vs Operating Expenses Cash Flow
Mobile Homes on 7th Cash Flow Analysis | 11
Calendar Year CURRENT Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Financial MetricsCash on Cash Return b/t 8.36 % 12.06 % 12.06 % 12.06 % 12.06 % 12.06 % 12.06 % 12.06 % 12.06 % 12.06 %CAP Rate 8.36 % 12.06 % 12.06 % 12.06 % 12.06 % 12.06 % 12.06 % 12.06 % 12.06 % 12.06 %Operating Expense Ratio 21.97 % 16.32 % 16.32 % 16.32 % 16.32 % 16.32 % 16.32 % 16.32 % 16.32 % 16.32 %Gross Multiplier (GRM) 9.33 6.94 6.94 6.94 6.94 6.94 6.94 6.94 6.94 6.94Breakeven Ratio 21.98 % 16.33 % 16.33 % 16.33 % 16.33 % 16.33 % 16.33 % 16.33 % 16.33 % 16.33 %
Mobile Homes on 7th Demographics | 12
POPULATION 1 MILE 3 MILE 5 MILE
2000 Population 14,758 81,173 190,780
2010 Population 15,198 94,162 208,311
2019 Population 17,007 105,040 237,377
2024 Population 18,226 112,453 255,573
2019 African American 2,125 19,216 35,586
2019 American Indian 364 2,481 6,786
2019 Asian 160 1,940 5,038
2019 Hispanic 13,357 71,099 150,912
2019 White 6,472 41,469 105,352
2019 Other Race 7,181 35,219 73,953
2019 Multiracial 664 4,494 10,154
2019-2024: Population: Growth Rate 6.95 % 6.85 % 7.45 %
2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
less than $15,000 1,068 5,181 12,868
$15,000-$24,999 800 3,748 9,017
$25,000-$34,999 589 3,379 7,893
$35,000-$49,999 847 4,246 10,036
$50,000-$74,999 723 5,415 11,719
$75,000-$99,999 385 3,158 7,120
$100,000-$149,999 303 3,389 7,769
$150,000-$199,999 56 966 2,538
$200,000 or greater 56 1,061 2,546
Median HH Income $34,048 $44,433 $42,764
Average HH Income $45,605 $62,553 $62,877
HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Total Housing 3,933 22,184 55,414
2010 Total Households 4,317 27,426 61,968
2019 Total Households 4,827 30,543 71,510
2024 Total Households 5,161 32,759 78,204
2019 Average Household Size 3.51 3.38 3.09
2000 Owner Occupied Housing 1,802 12,430 26,527
2000 Renter Occupied Housing 1,908 8,705 24,590
2019 Owner Occupied Housing 2,202 18,029 36,608
2019 Renter Occupied Housing 2,624 12,514 34,901
2019 Vacant Housing 810 3,418 9,613
2019 Total Housing 5,637 33,961 81,123
2024 Owner Occupied Housing 2,433 19,742 40,423
2024 Renter Occupied Housing 2,728 13,017 37,782
2024 Vacant Housing 867 3,525 9,931
2024 Total Housing 6,028 36,284 88,135
2019-2024: Households: Growth Rate 6.75 % 7.05 % 9.05 %
Source: esri
Mobile Homes on 7th Demographic Charts | 13
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Population by Race
Mobile Homes on 7th Demographic Charts | 14
2019 Household Occupancy - 1 Mile Radius
Average Income Median Income
2019 Household Income Average and Median
Mobile Homes on 7th
Exclusively Marketed by:
Laura Good Lee GarnerRealtor: Commercial / Multi-Family Specialist Realtor: Commercial / Multi-Family Specialist(480) 406-1984 480-765-0292License # SA639563000 License # [email protected] [email protected]
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