Offering Memorandum€¦ · NON-ENDORSEMENT & DISCLAIMER NOTICE. CONFIDENTIALITY & DISCLAIMER. The...
Transcript of Offering Memorandum€¦ · NON-ENDORSEMENT & DISCLAIMER NOTICE. CONFIDENTIALITY & DISCLAIMER. The...
1260 SOUTH SOTO STREETRetai l Shopping Center
Offering Memorandum
NON-ENDORSEMENT & DISCLAIMER NOTICECONFIDENTIALITY & DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by
the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of
Marcus & Millichap. 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. Marcus & Millichap 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 Brochure has been obtained
from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained
herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever
regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the
information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
NON-ENDORSEMENT NOTICEMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this
marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or
endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of
Marcus & Millichap, and is solely included for the purpose of providing tenant lessee
information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILL ICHAP AGENT FOR MORE DETAILS.
1260 SOUTH SOTO STREETR E T A I L S H O P P I N G C E N T E R
EXCLUSIVELY L ISTED BY
O F F I C E S N AT I O N W I D E A N D T H R O U G H O U T C A N A D A
WWW.MARCUSMILLICHAP.COM
Moon L imSenior Associate
Cell 213.308.2056 Office 213.943.1844
[email protected] CA 01903050
Richard TovarAssociate
Cell 626.422.5819Office 213.943.1844
[email protected] CA 02007857
07
13
27
21
EXECUTIVE SUMMARYSECTION 1 Offering Highlights • Investment Overview • Investment Highlights
PROPERTY DESCRIPTIONSECTION 2 Property Details • Local Aerial Map • Property Photos • Regional Map
MARKET OVERVIEWSECTION 4 Demographics Summary • Demographics Highlights
FINANCIAL ANALYSISSECTION 3 Pricing Details • Operating Data • Operating Statement • Rent Roll • Lease Expiration Summary
TABLE OF CONTENTS
EXCLUSIVELY LISTED BY:
1260 SOUTH SOTO STREETR E T A I L S H O P P I N G C E N T E R
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0140067
7
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
E
XE
CU
TI
VE
S
UM
MA
RY
EXECUTIVESUMMARY
1260 SOUTH SOTO STREET
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
E
XE
CU
TI
VE
S
UM
MA
RY
8
OFFERING HIGHLIGHTS
1260 South Soto Street, Los Angeles, CA
OFFERING PRICE
$14,250,000CAP RATE
5.09%
VITAL DATA
Price $14,250,000
Cap Price 5.09%
Price/SF $447.16
Gross Square Feet 31,868 SF
Occupancy 89.10%
1260 SOUTH SOTO STREETR E T A I L S H O P P I N G C E N T E R
MANY TENANTS ON SHORT TERM OR A
MONTH TO MONTH LEASE, PROVIDING
OPPORTUNITY TO INCREASE RENTS
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
E
XE
CU
TI
VE
S
UM
MA
RY
9
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
E
XE
CU
TI
VE
S
UM
MA
RY
10
INVESTMENT OVERVIEWMarcus & Millichap is pleased to present for sale 1260 South Soto Street located between 8th and Olympic, just south of the 5,10, and 60
freeways. This one-story retail center is an excellent value-add or future development opportunity for the investor/developer looking to acquire
investment property in one of the most sought after markets in the country.
Built in 1985, the Gross Leasable Area(GLA) measures approximately 31,868 square feet on a parcel of land measuring approximately 60,113
square feet(1.38 Acres). The property benefits from a highly visibility on Soto Street and it is ideally located to serve between the Boyle Heights
and East Los Angeles Communities.
The property is currently 89.10 percent occupied and offers a net operating income of $725,000. The opportunity to attain market rents and
management efficiencies will drive value at this location.
► Prime Los Angeles Location
► Many Tenants On A Short Term Or Month To Month Lease
► Features Outstanding Foot And Vehicle Traffic
► Ample Parking Spaces
► Major Anchored By El Pollo Loco
► Major Street With High Traffic Volume
► Close Proximate To Major Freeways (5, 10, 60, and 101)
► Surrounded By Many Major National Retailers
► Excellent Visibility And Street Exposure
► Multiple Entries On The Site
PRIME LOS ANGELES LOCATION
VALUE ADD OPPORTUNITY
DENSE POPULATION DEMOGRAPHICS
INVESTMENT HIGHLIGHTS
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0140067
13
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
P
RO
PE
RT
Y
DE
SC
RI
PT
IO
N
PROPERTYDESCRIPTION
1260 SOUTH SOTO STREET
10
PROPERTY DETAILSPrime Downtown Los Angeles Location with mix of 21 tenants. Excellent location with high average daily traffic volume. The property is anchored by El Pollo Loco and offers minimal management obligation. Property is located on South Soto Street between 8th Street and Olympic, just south of the 5, 10, 101 and 60 freeways.
PROPERTY NAME HERE
Property Address1260 South Soto Street,
Los Angeles, CA 90023
List Price $14,250,000
Number of Units 21
Number of Buildings 3
Number of Stories 1
Year Built 1985
Gross Leasable Area(GLA) 31,868 SF
Lot Size 1.38 Acres / 60,000 SF
Parking 56
Current NOI $725,000
Current CAP Rate 5.09%
Proforma NOI $919,622
Proforma Cap Rate 6.45%
Zoning C2
Price Per Building SF $447.16
Price Per Land SF $238.00
APN 5170-018-019
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
P
RO
PE
RT
Y
DE
SC
RI
PT
IO
N
14
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
P
RO
PE
RT
Y
DE
SC
RI
PT
IO
N
15
Santa Monica Bay
San Pedro Bay
West Fork SanGabriel River
San G
abrie
l Rive
r
ChatsworthReservoir
Van NormanLakes
San GabrielReservoir
MorrisReservoir
Rio Hondo River
Los Angeles River
Sant
a An
a Ri
ver
BreaLa Habra
Fullerton
Placentia
BuenaPark
Anaheim
Orange
CypressVillaPark
StantonGardenGroveRossmoor
SealBeach
SantaAna
Westminster
HuntingtonBeach
Tustin
FountainValley
SimiValley
SantaClarita
LOS ANGELES
SanFernando
Glendale
NorthridgeLa
Crescenta
Pasadena
La CanadaFlintridge
Burbank
Altadena
Duarte
Monrovia
GlendoraArcadia
SierraMadre
HiddenHills
Westlake
ThousandOaks
Newbury Park
Camarillo
Oxnard
Ventura
Ojai
AgouraHills
SanDimas
AzusaSan
Marino
SouthPasadena Temple
CitySanGabrielBeverly
Hills Alhambra CovinaBaldwinPark
CharterOak
El Monte
WestHollywood
RosemeadMonterey
Park
WalnutEast LosAngeles
La PuenteSanta
MonicaMontebello
DiamondBar
CulverCity
HaciendaHeights
PointDume Pico
Rivera
Whittier
RowlandHeightsBell
MaywoodHuntington
Park
MarinaDel Rey
InglewoodBell
Gardens
Downey
SouthGateWestmont South
WhittierLynwood
HawthorneNorwalk
El Segundo WillowbrookLa Mirada
Compton ParamountGardenaBellflower
ManhattanBeach Lawndale
RedondoBeach
Cerritos
Torrance
Carson
LongBeach
HermosaBeach
Lomita
Rancho PalosVerdes
WestCovina
LOS ANGELESCOUNTY
VENTURACOUNTY
55
55
73
118
118118
23
14
170
101
101
101
101
101
101
101
134134
2
2
110
30
60
60
72
72
57
57
90
42
91
19
19
9191
103
47
22 22
39
39
3990
14290
1
1 2
2
1
1
126
126
126
33
1
1
2
2
118118
39
27
27
1
1
107
1
1
5
5
405
405
405
5
5
5
5
210
210
210
210
210
210
405
405
605
605
10
10
710110
110
110
710
10
105
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
P
RO
PE
RT
Y
DE
SC
RI
PT
IO
N
16
Santa Monica Bay
San Pedro Bay
West Fork SanGabriel River
San G
abrie
l Rive
r
ChatsworthReservoir
Van NormanLakes
San GabrielReservoir
MorrisReservoir
Rio Hondo River
Los Angeles River
Sant
a An
a Ri
ver
BreaLa Habra
Fullerton
Placentia
BuenaPark
Anaheim
Orange
CypressVillaPark
StantonGardenGroveRossmoor
SealBeach
SantaAna
Westminster
HuntingtonBeach
Tustin
FountainValley
SimiValley
SantaClarita
LOS ANGELES
SanFernando
Glendale
NorthridgeLa
Crescenta
Pasadena
La CanadaFlintridge
Burbank
Altadena
Duarte
Monrovia
GlendoraArcadia
SierraMadre
HiddenHills
Westlake
ThousandOaks
Newbury Park
Camarillo
Oxnard
Ventura
Ojai
AgouraHills
SanDimas
AzusaSan
Marino
SouthPasadena Temple
CitySanGabrielBeverly
Hills Alhambra CovinaBaldwinPark
CharterOak
El Monte
WestHollywood
RosemeadMonterey
Park
WalnutEast LosAngeles
La PuenteSanta
MonicaMontebello
DiamondBar
CulverCity
HaciendaHeights
PointDume Pico
Rivera
Whittier
RowlandHeightsBell
MaywoodHuntington
Park
MarinaDel Rey
InglewoodBell
Gardens
Downey
SouthGateWestmont South
WhittierLynwood
HawthorneNorwalk
El Segundo WillowbrookLa Mirada
Compton ParamountGardenaBellflower
ManhattanBeach Lawndale
RedondoBeach
Cerritos
Torrance
Carson
LongBeach
HermosaBeach
Lomita
Rancho PalosVerdes
WestCovina
LOS ANGELESCOUNTY
VENTURACOUNTY
55
55
73
118
118118
23
14
170
101
101
101
101
101
101
101
134134
2
2
110
30
60
60
72
72
57
57
90
42
91
19
19
9191
103
47
22 22
39
39
3990
14290
1
1 2
2
1
1
126
126
126
33
1
1
2
2
118118
39
27
27
1
1
107
1
1
5
5
405
405
405
5
5
5
5
210
210
210
210
210
210
405
405
605
605
10
10
710110
110
110
710
10
105
RegionalMap
1260 South Soto Street
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
P
RO
PE
RT
Y
DE
SC
RI
PT
IO
N
17
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
P
RO
PE
RT
Y
DE
SC
RI
PT
IO
N
18
1 2 3 4 5 6 7 8 9 10 11 12 13 14 1516
17
18
19
20
21
SITE PLAN
Suite Tenant Name GLA Suite Tenant Name GLA Suite Tenant Name GLA
1 Medical Office 2,800 9 VACANT 1,500 15 Alma Family Services 1,954
2 Soto Kids Nutrition 1,040 10 Metro PCS 1,040 16 Vida Nueva Ministry 2,500
3 Furniture Store 1,040 11 Paola Nail Shop 1,040 17 Thai Silk Express 900
4 Restaurant 1,040 12 New Donuts 1,040 18 Employment Office 1,298
5 VACANT 1,976 13 Silver Coast Auto Ins Svc 1,600 19 Payday Loan, Check Cashing 1,800
6 Japanese Restaurant 1,200 14 Dental Office 1,400 20 El Pollo Loco 2,500
7&8 Multi Serve 2,100 21 Mexican Seafood 2,100
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
P
RO
PE
RT
Y
DE
SC
RI
PT
IO
N
19
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0140067
5.09% 6.45%CAP RATE PROFORMA CAP RATE
21
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
F
IN
AN
CI
AL
A
NA
LY
SI
S
FINANCIALANALYSIS
1260 SOUTH SOTO STREET
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
F
IN
AN
CI
AL
A
NA
LY
SI
S
17
PRICING DETAIL
Price $14,250,000
Down Payment $5,400,000 40%
Number of Suites 21
Price Per SqFt $447.16
Gross Leasable Area (GLA) 31,868 SF
Lot Size 1.38 Acres
Year Built/Renovated 1985
Occupancy 89.10%
Returns Year 1 Year 2
CAP Rate 5.09% 6.45%
Cash-on-Cash 2.71% 6.13%
Debt Coverage Ratio 1.27 1.61
Financing 1st Loan
Loan Amount $8,550,000
Loan Type New
Interest Rate 4.50%
Amortization 25 Years
Year Due 2027
Loan information is subject to change. Contact your Marcus & Millichap Capital Corporation representative.
Summary Operating Data
Year 1 Year 2Scheduled Base Rental Income $847,128 $1,030,284Total Reimbursement Income 18.7% $158,696 17.3% $178,125Other Income $0 $0Potential Gross Revenue $1,005,824 $1,208,409General Vacancy ($20,410) ($25,905)Effective Gross Revenue $985,414 $1,182,504Less: Operating Expenses 26.4% ($260,414) 22.2% ($262,883)Net Operating Income $725,000 $919,622
Tenant Improvements $0 $0
Leasing Commissions $0 $0Capital Expenditures $0 $0Cash Flow $725,000 $919,622Debt Service ($570,284) ($570,284)Net Cash Flow After Debt Service 2.71% $154,716 6.13% $349,338Principal Reduction $189,409 $198,110Total Return 6.04% $344,125 9.60% $547,448
Operating Expenses Year 1 Year 2CAM $41,369 $42,610Insurance $6,800 $7,004Real Estate Taxes $178,125 $178,125Management Fee $34,120 $35,144Other Expenses - Non Reimbursable $0 $0Total Expenses $260,414 $262,883
Expenses/SF $8.17 $8.25
Income
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
F
IN
AN
CI
AL
A
NA
LY
SI
S
22
OPERATING STATEMENT
Income Year 1 Per SF Year 2 Per SF
Scheduled Base Rental Income 847,128 26.58 1,030,284 32.33Expense Reimbursement Income
158,696 4.98 178,125 5.59Total Reimbursement Income $158,696 60.9% $4.98 $178,125 67.8% $5.59
Potential Gross Revenue 1,005,824 31.56 1,208,409 37.92General Vacancy (20,410) 3.0% (0.64) (25,905) 3.0% (0.81)
Effective Gross Revenue $985,414 $30.92 $1,182,504 $37.11
Operating Expenses Year 1 Per SF Year 2 Per SF
10,676 0.34 10,996 0.356,537 0.21 6,733 0.212,960 0.09 3,049 0.10
882 0.03 908 0.03511 0.02 526 0.02
2,530 0.08 2,606 0.081,869 0.06 1,925 0.06
386 0.01 398 0.0113,869 0.44 14,285 0.45
1,149 0.04 1,183 0.04Insurance 6,800 0.21 7,004 0.22Real Estate Taxes 178,125 5.59 178,125 5.59Management Fee 34,120 3.5% 1.07 35,144 3.0% 1.10
Total Expenses $260,414 $8.17 $262,883 $8.25Expenses as % of EGR 26.4% 22.2%Net Operating Income $725,000 $22.75 $919,622 $28.86Notes and assumptions to the above analysis are on the following page.
UtilitiesTrash RemovalRepairs & Maintenance
Real Estate Taxes
Common Area Maintenance (CAM)
SuppliesOffice SuppliesAccountingBank ChargesContributionsLegalLicenses & Permits
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
F
IN
AN
CI
AL
A
NA
LY
SI
S
23
TENANT RENT ROLL% Monthly
Square Bldg Rent per Total Rent Total Rent Changes Changes LeaseTenant Name Suite Feet Share Comm. Exp. Sq. Ft. Per Month Per Year on to Type
Medical Office 1 2,800 8.8% 10/1/16 9/30/20 $0.89 $2,500 $30,000 N/A N/A N
Soto Kids Nutrition 2 1,040 3.3% 9/15/07 M to M $2.61 $2,712 $32,544 Jan-2019 $292 N
La Jerezana 3 1,040 3.3% 4/15/13 M to M $2.69 $2,800 $33,600 Jan-2019 $2,912 N
Restaurant 4 1,040 3.3% 3/1/15 M to M $2.16 $2,250 $27,000 Jan-2019 $2,912 N
VACANT 5 1,976 6.2% $0.00 $0 $0 Dec-2018 $5,533 N
Japanese Restaurant 6 1,200 3.8% 8/1/16 3/31/24 $3.02 $3,621 $43,452 N/A N/A N
Multi Serve 7 1,050 3.3% 3/1/17 2/29/20 $2.02 $2,125 $25,500 Mar-2018 $2,175 N
Multi Serve 8 1,050 3.3% 3/1/17 2/29/20 $2.02 $2,125 $25,500 Mar-2018 $2,175 N
VACANT 9 1,500 4.7% $0.00 $0 $0 Dec-2018 $4,200 N
Metro PCS 10 1,040 3.3% 8/1/17 7/31/19 $2.16 $2,250 $27,000 Aug-2018 $2,475 N
Paola Nail Shop 11 1,040 3.3% 12/1/04 M to M $2.98 $3,100 $37,200 N/A N/A N
New Donuts 12 1,040 3.3% 1/1/15 12/31/19 $3.32 $3,450 $41,400 Jan-2019 $3,550 N
Silver Coast Auto Ins Svc 13 1,600 5.0% 4/1/16 3/31/19 $1.64 $2,625 $31,500 Apr-2018 $2,756 N
Dental Office 14 1,400 4.4% 10/15/16 10/15/21 $2.71 $3,798 $45,570 Oct-2018 $3,963 N
Alma Family Services 15 1,954 6.1% 7/1/13 M to M $1.41 $2,750 $33,000 Jan-2019 $5,471 N
Vida Nueva Ministry 16 2,500 7.8% 8/1/17 7/31/19 $1.00 $2,500 $30,000 Aug-2018 $3,200 N
Thai Silk Express 17 900 2.8% 6/1/08 M to M $4.13 $3,714 $44,568 N/A N/A N
Book Store 18 1,298 4.1% 10/1/17 9/30/19 $1.39 $1,800 $21,600 Jan-2019 $3,635 N
Su Casa De Cambio 19 1,800 5.6% 7/1/12 M to M $3.02 $5,441 $65,286 N/A N/A N
El Pollo Loco 20 2,500 7.8% 6/28/84 5/31/37 $5.56 $13,900 $166,800 Jun-2022 $15,400 N
Mexican Seafood 21 2,100 6.6% 9/1/13 M to M $3.35 $7,025 $84,300 N/A N/A N
Total 31,868 $2.21 $70,485 $845,820
Occupied Tenants: 19 Unoccupied Tenants: 2 Occupied GLA: 89.10% Unoccupied GLA: 10.90%
Lease Dates
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
F
IN
AN
CI
AL
A
NA
LY
SI
S
24
LEASE EXPIRATION SUMMARY
0
5
10
15
20
0%
20%
40%
60%
80%
100%
Jan-2018 Jan-2019 Jan-2020 Jan-2021 Jan-2022 Jan-2023 Jan-2024 Jan-2025 Jan-2026 Jan-2027
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Num
ber of Tenants
Per
cent
age
of S
qua
re F
oota
ge
Exp
iring
Lease Expiration Summary
% of SQFT Expiring Cumulative % of SQFT Expiring Number of Commercial Leases/Tenants Expiring
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
F
IN
AN
CI
AL
A
NA
LY
SI
S
25
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0140067
1,153,489TOTAL POPULATION WITHIN 5-MILE RADIUS
27
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
M
AR
KE
T
OV
ER
VI
EW
MARKETOVERVIEW
1260 SOUTH SOTO STREET
POPULATION 1 Miles 3 Miles 5 Miles 2022 Projection
Total Population 24,941 341,669 1,146,148
2017 Estimate
Total Population 25,541 340,462 1,153,489
2010 Census
Total Population 24,499 322,798 1,103,272
2000 Census
Total Population 24,443 312,717 1,092,909
Current Daytime Population
2017 Estimate 31,712 543,598 1,258,074
HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2022 Projection
Total Households 6,549 100,993 332,816
2017 Estimate
Total Households 6,344 94,757 322,191
Average (Mean) Household Size 3.91 3.29 3.40
2010 Census
Total Households 6,098 88,593 306,712
2000 Census
Total Households 5,730 77,156 289,175
Occupied Units
2022 Projection 6,549 100,993 332,816
2017 Estimate 6,592 99,611 335,069
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2017 Estimate
$150,000 or More 3.76% 4.35% 3.87%
$100,000 - $149,000 8.33% 7.09% 7.00%
$75,000 - $99,999 7.12% 7.42% 7.98%
$50,000 - $74,999 15.55% 14.41% 15.05%
$35,000 - $49,999 12.90% 13.40% 14.75%
Under $35,000 52.34% 53.31% 51.35%
Average Household Income $51,797 $51,019 $51,036
Median Household Income $32,953 $31,974 $33,949
Per Capita Income $12,991 $15,260 $14,815
HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 MilesTotal Average Household Retail Expenditure $54,129 $52,342 $53,424
Consumer Expenditure Top 10 Categories
Housing $16,780 $16,062 $16,426
Shelter $11,245 $10,842 $11,076
Transportation $8,131 $7,765 $8,063
Food $5,768 $5,649 $5,771
Personal Insurance and Pensions $4,136 $3,990 $4,166
Utilities $2,725 $2,551 $2,643
Health Care $2,721 $2,517 $2,614
Entertainment $1,957 $1,881 $1,937
Apparel $1,761 $1,697 $1,735
Household Operations $1,193 $1,119 $1,136
POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population By Age
2017 Estimate Total Population 25,541 340,462 1,153,489
Under 20 31.64% 28.89% 29.15%
20 to 34 Years 24.92% 26.91% 27.17%
35 to 39 Years 7.61% 7.73% 7.49%
40 to 49 Years 12.92% 13.22% 12.95%
50 to 64 Years 13.02% 14.05% 14.22%
Age 65+ 9.90% 9.17% 9.01%
Median Age 30.62 31.58 31.17
Population 25+ by Education Level
2017 Estimate Population Age 25+ 15,243 212,733 710,756
Elementary (0-8) 29.76% 25.81% 25.15%
Some High School (9-11) 18.91% 17.87% 16.98%
High School Graduate (12) 18.54% 20.06% 21.41%
Some College (13-15) 10.83% 13.00% 13.16%
Associate Degree Only 4.60% 3.69% 4.13%
Bachelors Degree Only 6.94% 9.23% 9.53%
Graduate Degree 2.47% 3.70% 3.52%
DEMOGRAPHIC SUMMARY
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
M
AR
KE
T
OV
ER
VI
EW
28
IncomeIn 2017, the median household income for your selected geography is$32,953, compare this to the US average which is currently $56,286.The median household income for your area has changed by 32.04%since 2000. It is estimated that the median household income in yourarea will be $36,746 five years from now, which represents a changeof 11.51% from the current year.
The current year per capita income in your area is $12,991, comparethis to the US average, which is $30,982. The current year averagehousehold income in your area is $51,797, compare this to the USaverage which is $81,217.
PopulationIn 2017, the population in your selected geography is 25,541. Thepopulation has changed by 4.49% since 2000. It is estimated that thepopulation in your area will be 24,941.00 five years from now, whichrepresents a change of -2.35% from the current year. The currentpopulation is 50.25% male and 49.75% female. The median age ofthe population in your area is 30.62, compare this to the US averagewhich is 37.83. The population density in your area is 8,128.74 peopleper square mile.
HouseholdsThere are currently 6,344 households in your selected geography. Thenumber of households has changed by 10.72% since 2000. It isestimated that the number of households in your area will be 6,549five years from now, which represents a change of 3.23% from thecurrent year. The average household size in your area is 3.91 persons.
EmploymentIn 2017, there are 18,525 employees in your selected area, this is alsoknown as the daytime population. The 2000 Census revealed that33.19% of employees are employed in white-collar occupations inthis geography, and 67.08% are employed in blue-collar occupations.In 2017, unemployment in this area is 4.96%. In 2000, the averagetime traveled to work was 30.00 minutes.
Race and EthnicityThe current year racial makeup of your selected area is as follows:49.87% White, 1.01% Black, 0.03% Native American and 1.49%Asian/Pacific Islander. Compare these to US averages which are:70.42% White, 12.85% Black, 0.19% Native American and 5.53%Asian/Pacific Islander. People of Hispanic origin are countedindependently of race.
People of Hispanic origin make up 95.34% of the current yearpopulation in your selected area. Compare this to the US average of17.88%.
HousingThe median housing value in your area was $327,851 in 2017,compare this to the US average of $193,953. In 2000, there were1,404 owner occupied housing units in your area and there were4,325 renter occupied housing units in your area. The median rent atthe time was $525.
Source: © 2017 Experian
DEMOGRAPHIC HIGHLIGHTS
12
60
S
OU
TH
S
OT
O
ST
RE
ET
//
M
AR
KE
T
OV
ER
VI
EW
29
E X C L U S I V E LY L I S T E D B Y
1260 SOUTH SOTO STREET
Moon LimSenior Associate
Cell 213.308.2056 Office 213.943.1844
[email protected] CA 01903050
Richard TovarAssociate
Cell 626.422.5819Office 213.943.1844
[email protected] CA 02007857