PRO FORMA INCOME & EXPENSES...Pro Forma (Year-1) Estimated Square Feet This information has been...
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16 UNITS IN OROVILLE, CA | $1,700,000 1150 PINE STREET, OROVILLE, CA, 95965 LISTINGS.MOGHAREBI.COM/1150PINE a Mogharebi - Ozen Company ROBIN C. KANE Senior Vice President O: 559.761.0020 [email protected] CA BRE License #00583537 BRENDAN KANE Vice President O: 559.892.0036 [email protected] CA BRE License #01976828
Transcript of PRO FORMA INCOME & EXPENSES...Pro Forma (Year-1) Estimated Square Feet This information has been...
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UNIT MIX & RENT SCHEDULE
3 2 / 1.0 18.8% 800 $795 $2,385 $820 $2,460
13 2 / 1.0 Rehabbed 81.3% 800 $875 $11,375 $900 $11,700
16 12,800 $13,760 $14,160
INCOMEScheduled Gross Rent $147,979 $165,120 $169,920
Loss-to-Lease 0.0% $0 1.6% ($2,700) 1.6% 3.0% ($5,098)Vacancy 0.0% $0 3.0% ($4,954) 3.0% 3.0% ($5,098)
Effective Rental Income $147,979 $157,466 $159,725
Laundry Revenue Collected $2,229 $2,229 $2,421
Other Revenue Collected $4,533 $4,533 $8,336
Total Other Revenue $6,761 $6,761 $10,757
Effective Gross Income (EGI) $154,740 $164,228 $170,482
Total Expenses $57,178 $59,276 $68,211
Per Unit: $3,574 $3,705 $4,263Per Square Foot: $4.47 $4.63 $5.33
Percent of EGI: 36.95% 36.09% 40.01%
Net Operating Income (NOI) $97,562 $104,952 $102,271
NEW LOAN PRICING Price $ / Unit $ / SF In-Place Cap Pro Forma CapListing Price $1,700,000 $106,250 $133 6.17% 6.02%Debt Service ($71,474) ($71,474)
Projected Net Cash Flow $33,478 $30,797
Cash-on-Cash Return 9.85% 9.06%
DSCR-Debt Service Coverage Ratio 146.84% 143.09%
NEW LOAN LTV Amount Interest Term Payment Amor. Fees I/O TermListing Price 80% $1,360,000 3.30% 10 ($5,956) 30 0.50% 3 Years
DEBT SUMMARY Scenario Loan Amt Down Payment Rate LTV Mo. Payment Debt ConstantNew Loan $1,360,000 $340,000 3.30% 80% ($5,956) 5.26%
Floor PlanUnits% of Mix
Asking RentMonthly
Pro Forma(Year-1)
Asking RentPro Forma
(Year-1)
Total Current
Asking RentCurrent
Asking Rent
Historic Rent(T12 Dec 2019)
Current In-Place
(Aug 2020)
TMG Pro Forma
(Year-1)
EstimatedSquare Feet
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. Income and Expenses are estimates. Buyer must verify the information and bears all risk for any inaccuracies.
Listings.Mogharebi.com/1150Pine
IMPORTANT INFORMATION & DISCLAIMER:
NOTES1. Actual Scheduled Rents are derived from the Rent Roll dated August 24, 2020.2. Expenses are annualized based on a 12-Month Statement from January to December 2019.3. Property Tax is based on the sale price and an ad valorem tax rate of 1.09875% with direct assessments totaling $7,446.54.4. Current Asking Rent is based on a August 24, 2020 rent survey.5. The projected vacancy allowance includes rollover and potential rent loss. 6. Current In-Place (Aug 2020) - reflects asking rent and December loss-to-lease, market vacancy, T12 other income, and T12 operating expenses that are adjusted for property taxes.7. TMG Pro Forma (Year-1) - reflects asking rents adjusted upward by 3.00%, recapture of loss-to-lease, market occupancy, and adjusted expenses.
16 UNITS IN OROVILLE, CA | $1,700,0001150 PINE STREET, OROVILLE, CA, 95965LISTINGS.MOGHAREBI.COM/1150PINE a
Mog
hare
bi -
O
zen
Com
pany
PRO FORMA INCOME & EXPENSES
ROBIN C. KANE Senior Vice President
O: 559.761.0020 [email protected]
CA BRE License #00583537
ROBIN C. KANE Senior Vice President
O: 559.761.0020 [email protected] BRE License #00583537
BRENDAN KANE Vice President
O: 559.892.0036 [email protected]
CA BRE License #01976828
BRENDAN KANE Vice PresidentO: 559.892.0036 [email protected] CA BRE License #01976828
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Listings.Mogharebi.com/1150Pine
• Strategically Placed Between Chico and Yuma City Employment Markets.
• Comprised of all two-bed / one-bath units with an average size of approximately 800 square feet.
• Proved Value-Add upside with minor rehab to the remaining 3 unrenovated units.
• Walking distance to numerous restaurants local to the community including Uncle Ping’s Express, Mug Shots Coffee House, The Italian Kitchen, and Pho Noodle House.
• Within a 10-minute commute to Oroville High School, Stanford Avenue Elementary School, and Wyandotte Academy.
INVESTMENT OPPORTUNITY Unit Amenities Common Area Amenities• Formica Countertops• Electric Range/Oven• Hood-fan• Disposal• Dishwasher• Refrigerator • Plush carpeting in Living Area
and Bedrooms• Laminate Tile in Kitchen and
Bath Areas • Air-Conditioning• Gas Heating
• Laundry Facility
PROPERTY DESCRIPTIONUNITS 16
RENTABLE SF 12,800
YEAR BUILT 1979
APN 012-023-004-000
LOT SIZE 0.66 acres
DENSITY 24.2 units per acre
PARKING SURFACE Concrete
PARKING 16 Surface
PARKING RATIO 1.00
BUILDINGS 2 Residential
STORIES Two
FOUNDATION Slab-on Concrete
FRAMING Wood
EXTERIOR Stucco and Wood
ROOFPitched with Composite
Shingle
ELECTRICITY Tenant - Individually Metered
GAS Tenant - Individually Metered
WATER Landlord - Master Metered
SEWER Landlord - Master Metered
TRASH Landlord - Master Metered
HVAC Through-the-Wall
WATER HEATER Boilers
FIRE PROTECTIONSmoke Detector /
Extinguisher
PLUMBING Copper
Built in 1979, 1150 Pine Street is a two story, 16-unit apartment community that is located on Pine Street
in Oroville, CA. The property comprises 2 residential buildings totaling 12,800 rentable square feet. The
complex is situated on a 0.56-acre site. The apartment homes feature spacious two-bedroom floor plans
with an average size of 800 square feet. The property boasts a laundry room and ample parking.
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Listings.Mogharebi.com/1150Pine
• Strategically Placed Between Chico and Yuma City Employment Markets.
• Comprised of all two-bed / one-bath units with an average size of approximately 800 square feet.
• Proved Value-Add upside with minor rehab to the remaining 3 unrenovated units.
• Walking distance to numerous restaurants local to the community including Uncle Ping’s Express, Mug Shots Coffee House, The Italian Kitchen, and Pho Noodle House.
• Within a 10-minute commute to Oroville High School, Stanford Avenue Elementary School, and Wyandotte Academy.
INVESTMENT OPPORTUNITY Unit Amenities Common Area Amenities• Formica Countertops• Electric Range/Oven• Hood-fan• Disposal• Dishwasher• Refrigerator • Plush carpeting in Living Area
and Bedrooms• Laminate Tile in Kitchen and
Bath Areas • Air-Conditioning• Gas Heating
• Laundry Facility
PROPERTY DESCRIPTIONUNITS 16
RENTABLE SF 12,800
YEAR BUILT 1979
APN 012-023-004-000
LOT SIZE 0.66 acres
DENSITY 24.2 units per acre
PARKING SURFACE Concrete
PARKING 16 Surface
PARKING RATIO 1.00
BUILDINGS 2 Residential
STORIES Two
FOUNDATION Slab-on Concrete
FRAMING Wood
EXTERIOR Stucco and Wood
ROOFPitched with Composite
Shingle
ELECTRICITY Tenant - Individually Metered
GAS Tenant - Individually Metered
WATER Landlord - Master Metered
SEWER Landlord - Master Metered
TRASH Landlord - Master Metered
HVAC Through-the-Wall
WATER HEATER Boilers
FIRE PROTECTIONSmoke Detector /
Extinguisher
PLUMBING Copper
Built in 1979, 1150 Pine Street is a two story, 16-unit apartment community that is located on Pine Street
in Oroville, CA. The property comprises 2 residential buildings totaling 12,800 rentable square feet. The
complex is situated on a 0.56-acre site. The apartment homes feature spacious two-bedroom floor plans
with an average size of 800 square feet. The property boasts a laundry room and ample parking.
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UNIT MIX & RENT SCHEDULE
3 2 / 1.0 18.8% 800 $795 $2,385 $820 $2,460
13 2 / 1.0 Rehabbed 81.3% 800 $875 $11,375 $900 $11,700
16 12,800 $13,760 $14,160
INCOMEScheduled Gross Rent $147,979 $165,120 $169,920
Loss-to-Lease 0.0% $0 1.6% ($2,700) 1.6% 3.0% ($5,098)Vacancy 0.0% $0 3.0% ($4,954) 3.0% 3.0% ($5,098)
Effective Rental Income $147,979 $157,466 $159,725
Laundry Revenue Collected $2,229 $2,229 $2,421
Other Revenue Collected $4,533 $4,533 $8,336
Total Other Revenue $6,761 $6,761 $10,757
Effective Gross Income (EGI) $154,740 $164,228 $170,482
Total Expenses $57,178 $59,276 $68,211
Per Unit: $3,574 $3,705 $4,263Per Square Foot: $4.47 $4.63 $5.33
Percent of EGI: 36.95% 36.09% 40.01%
Net Operating Income (NOI) $97,562 $104,952 $102,271
NEW LOAN PRICING Price $ / Unit $ / SF In-Place Cap Pro Forma CapListing Price $1,700,000 $106,250 $133 6.17% 6.02%Debt Service ($71,474) ($71,474)
Projected Net Cash Flow $33,478 $30,797
Cash-on-Cash Return 9.85% 9.06%
DSCR-Debt Service Coverage Ratio 146.84% 143.09%
NEW LOAN LTV Amount Interest Term Payment Amor. Fees I/O TermListing Price 80% $1,360,000 3.30% 10 ($5,956) 30 0.50% 3 Years
DEBT SUMMARY Scenario Loan Amt Down Payment Rate LTV Mo. Payment Debt ConstantNew Loan $1,360,000 $340,000 3.30% 80% ($5,956) 5.26%
Floor PlanUnits% of Mix
Asking RentMonthly
Pro Forma(Year-1)
Asking RentPro Forma
(Year-1)
Total Current
Asking RentCurrent
Asking Rent
Historic Rent(T12 Dec 2019)
Current In-Place
(Aug 2020)
TMG Pro Forma
(Year-1)
EstimatedSquare Feet
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. Income and Expenses are estimates. Buyer must verify the information and bears all risk for any inaccuracies.
Listings.Mogharebi.com/1150Pine
IMPORTANT INFORMATION & DISCLAIMER:
NOTES1. Actual Scheduled Rents are derived from the Rent Roll dated August 24, 2020.2. Expenses are annualized based on a 12-Month Statement from January to December 2019.3. Property Tax is based on the sale price and an ad valorem tax rate of 1.09875% with direct assessments totaling $7,446.54.4. Current Asking Rent is based on a August 24, 2020 rent survey.5. The projected vacancy allowance includes rollover and potential rent loss. 6. Current In-Place (Aug 2020) - reflects asking rent and December loss-to-lease, market vacancy, T12 other income, and T12 operating expenses that are adjusted for property taxes.7. TMG Pro Forma (Year-1) - reflects asking rents adjusted upward by 3.00%, recapture of loss-to-lease, market occupancy, and adjusted expenses.
16 UNITS IN OROVILLE, CA | $1,700,0001150 PINE STREET, OROVILLE, CA, 95965LISTINGS.MOGHAREBI.COM/1150PINE a
Mog
hare
bi -
O
zen
Com
pany
PRO FORMA INCOME & EXPENSES
ROBIN C. KANE Senior Vice President
O: 559.761.0020 [email protected]
CA BRE License #00583537
ROBIN C. KANE Senior Vice President
O: 559.761.0020 [email protected] BRE License #00583537
BRENDAN KANE Vice President
O: 559.892.0036 [email protected]
CA BRE License #01976828
BRENDAN KANE Vice PresidentO: 559.892.0036 [email protected] CA BRE License #01976828
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