Memorandum $850,000 · TORRANCE, CA 90501 Offering Memorandum $850,000 WOODY STAHL (310) 710-3829...

1746 -1748 MARTINA AVETORRANCE, CA 90501

OfferingMemorandum $850,000

WOODY STAHL

(310) [email protected] - 01399621

Virtual Tour(310) [email protected] - 01717818

BRETT LYON

Video Tour HereVideo Tour

Virtual Tour

mailto:[email protected]

https://vimeo.com/463197480





1746-1748 MARTINA AVETORRANCE, CA 90501

2 UNITTable ofContents

IndexProperty Overview

Financial Overview

Property Photography

Comparables

Area Overview

Aerial Map

Disclaimer

3

6

10

20

27

32

33

2

Address StreetCity, State Zip

3

1746 -1748 MARTINA AVE,TORRANCE, CA 90501

PropertyOverview


2 UNITPropertyOverview

Property Summary

Price $850,000

Address 1746 - 1748 Martina Ave

City, State, Zip Torrance

County Los Angeles

Year Built 1923

Number Of Units 2

Building Size 2,390 SF

Lot Size 5,023 SF

Cap Rate 3.07%

Pro Forma Cap Rate 3.48%

Grm 20.27

Pro Forma Grm 18.66

Price / Bldg Sf $572.39

Price / Lot Sf $168.71

4


2 UNITPropertyOverview

1746-1748 Martina Ave, Torrance 90501- 2 Units | $850,000

- Well-Maintained Duplex Consisting of (1) 1-Bed/2-Bath with a Den & (1) 1-Bed/1-Bath Unit

- One Unit (1-Bed/2-Bath) Can Be Delivered Vacant

- Property Features (3) 1-Car Garages & Laundry Hookups in Each Unit

- 1,485 SF of Living Space Situated on a 5,038 SF Lot with a Fenced-In Backyard

- Separately Metered For Gas & Electric And Recently Installed Orbit Irrigation System

Lyon | Stahl Investment Real Estate is pleased to present 1746-1748 Martina Ave, a duplex located in the charming Old Town Torrance District. This well-maintained duplex makes up a total of 1,485 SF of living space situated on a 5,038 SF parcel of land. 1746-1748 Martina Ave offers a great unit mix, consisting of: (1) 1 Bed/2 Bath with a Den & (1) 1 Bed/1 Bath Unit. Both units come separately metered for gas & electric, have access to a fenced-in backyard, and include laundry hookups. The property also features (3) one-car garages and a newly installed Orbit irrigation system.

1746-1748 Martina Ave is an excellent opportunity for a potential investor to obtain 30 year fixed residential financing while rates are at a historical low and benefit from long term appreciation in the South Bay.

5


6


FinancialOverview


2 UNIT

Property Summary

ADDRESS 1746 - 1748 Martina Ave, Torrance. 90501 YEAR BUILT 1923

DOWN PAYMENT 30% ($255,000) PARKING (2) 1-Car Garages

NUMBER OF UNITS 2 CURRENT NOI $26,079

COST PER UNIT $425,000 PRO FORMA NOI $29,571

LOT SIZE 5,038 SF CURRENT CAP RATE 3.07%

GROSS RENTABLE SF 1,485 SF PRO FORMA CAP RATE 3.48%

PRICE PER BLDG SF $572.39 CURRENT GRM 20.27

PRICE PER LAND SF $168.71 PRO FORMA GRM 18.66

Proposed Financing

LOAN AMOUNT $595,000 LOAN-TO-VALUE 70%

DOWN PAYMENT $255,000 AMORTIZATION 30-YEAR

INTEREST RATE 2.85% LOAN TERM 5-YEAR FIXED

MONTHLY PAYMENT $2,461 PROPOSED/EXISTING PROPOSED

ANNUAL PAYMENT $29,532 DEBT COVERAGE RATION (DCR) 0.86

Price $850,000

FinancialOverview

7


2 UNIT

Annualized Operating Data

CURRENT ACTUALS PRO FORMA RENT

GROSS SCHEDULED INCOME $41,940 - $45,540 -

VACANY RATE RESERVE $1,258 3% $1,366 3%

GROSS OPERATING INCOME $40,682 - $4,174 -

EXPENSES $14,603 35% $14,603 32%

NET OPERATING INCOME $26,079 - $29,571 -

LOAN PAYMENTS $29,528 - $29,528 -

PRE TAX CASH FLOWS $(3,449) -1.35% $(43) 0.02%

PRINCIPAL REDUCTION $12,736 - $12,736 -

TOTAL RETURN BEFORE TAXES $9,287 3.64% $12,779 5.01%

Expense Summary

*ESTIMATED Per Unit

NEW TAXES (NEW ESTIMATE) $9,950

MAINTENANCE (3%) $1,258

INSURANCE $594

UTILITIES ($800/unit/year) $1,600

LANDSCAPING ($100/mo) $ 1,200

TOTAL EXPENSES $14,603

EXPENSES AS %/SGI 34.82%

EXPENSE PER SF $2.90

EXPENSE PER UNIT $7,301

Scheduled Income

CURRENT MARKET

TOTAL SCHEDULED RENT $3,495 $3,795

LAUNDRY $0 $0

GARAGES $0 $0

MONTHLY SCHEDULED GROSS INCOME $3,495 $3,795

ANNUALIZED SCHEDULED GROSS INCOME $41,940 $45,540

UTILITIES PAID BY TENANT Gas & Electric Gas & Electric

* This information has been secured from sources we believe to be reliable but representations, or warranties, expressed or implied, as to the accuracy of the references to square footage, land lines/boundaries and age are approximate. Buyer takes responsibility for all information and bears all risk for any inaccuracies.

FinancialOverview

8


2 UNIT

Unit # Unit Type Actual Rent Market Rent Notes

1 1+2 $1,995 $1,995 * w/ den (Vacant)

1 1+1 $1,500 $1,800

MONTHLY TOTALS $3,495 $3,795

ANNUALIZED TOTALS $41,940 $45,540

RentRoll

9


10


PropertyPhotography


2 UNITPropertyPhotography



12



13Of Apartment # 1748


14


Comparables


2 UNIT

Address Price Units Year BuiltBuilding

SizePrice/Unit Price/SF CAP Rate GRM Sale Date

11226 Cota Ave,Torrance, CA 90501

$920,000 2 1964 1,904 SF $460,000 $483.19 4.45% 30.06 08/11/2020

21221 Amapola Ave,Torrance, CA 90501

$950,000 3 1962 1,932 SF $316,666 $491.72 4.12% 19.33 08/20/2020

31346 Engracia AveTorrance, CA 90501

$955,000 3 1925 1,616 SF $477,500 $590.97 1.93% 15.15 06/29/2020

Averages $941,666 2.5 1950 1,817 SF $418,015 $521.96 3.50% 21.51 N/A

*1746 - 1748 Martina Ave,Torrance, CA 90501

$850,000 2 1923 1,485 SF $425,000 $572.39 3.07% 20.07 Active

SoldComparables

15


2 UNITSoldComparables Map

16


2 UNIT

Address Date Leased Unit Type Unit Size Rental Rate

125219 Loytan St, Torrance, CA 90501

Jun 2020 1 Bed/ 2 Bath 900 $2,100

21810 Arlington Ave,Torrance, CA 90501

Jan 2020 1 Bed/ 2 Bath 1,200 $2,100

32559 Plaza Del Amo #115Torrance, CA 90501

July 2020 1 Bed/ 2 Bath 1,052 $2,230

42559 Plaza Del Amo #215Torrance, CA 90501

Jun 2019 1 Bed/ 2 Bath 1,052 $2,390

Averages Jan 2019 1 Bed / 2 B 1,051 SF $2,187


Active1 Bed/2 Bath1 Bed/1 Bath

900 SF585 SF

$1,995$1,500

LeaseComparables

17


2 UNITLease Comparables Map

18


2 UNIT

Address Price Units Year BuiltBuilding

SizePrice/Unit Price/SF CAP Rate GRM List date

11819 Gramercy Ave,Torrance, CA 90501

$799,900 2 1923 1,200 SF $399,950 $666.58 4.25% 16.66 09/01/2020

22224 Torrance Blvd,Torrance, CA 90501

$899,000 2 1941 2,249 SF $449,500 $399.73 2.90% 21.43 09/04/2020

3808 Acacia Ave,Torrance, CA 90501

$1.125,000 2 1939 2,337 SF $562,500 $481.39 2.31% 17.36 07/08/2020

Averages $849,450 2 1934 1,928 SF $470,650 $515.90 3.15% 18.48 N/A


$850,0002 1923 1,485 SF $425,000 $572.39 3.07% 20.07 N/A

On-MarketComparables

19


2 UNITOn-MarketComparables Map

20


21


AreaOverview


2 UNITAreaOverview

City Overview

Torrance is a city in the South Bay region of Los Angeles County bordered by Redondo Beach, Palos Verdes Estates, Rolling Hills Estates, Gardena, and Lawndale. Torrance is known for its low crime rates, consistently ranking among the safest cities in LA County.

The Torrance Unified School District ranks in the top 50 in California and includes five high schools, eight middle schools, and 17 elementary schools. Torrance High School, founded in 1917, is one of the oldest high schools in California and is a popular filming location for TV shows and films including the original Beverly Hills, 90210 and Buffy the Vampire Slayer.

The median price of homes currently listed in Torrance is $775,000 and Torrance real estate values have gone up 6.6% over the past year.

One of the largest malls in the United States, Del Amo Fashion Center, is in Torrance along with the headquarters of Honda, King’s Hawaiian, and simplehuman. In addition to its corporate presence, there is a strong emphasis on small business in the community: Torrance has been ranked in the top 3 cities in California for small businesses.

22


2 UNITLocalMap

23


2 UNITAerialMap

24

25

The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictlyconfidential; it is intended to be reviewed only by the party receiving it from Broker and should not bemade available to anyone else without the written consent of Broker. By retention or use of thisMemorandum, you agree that its contents are confidential, that you will hold it in the strictestconfidence, and that you will not disclose any of its contents contrary to these terms.

This Memorandum has been prepared to provide summary, unverified information to establish apreliminary level of interest in the subject property (“Property”) . The information in this Memorandum hasbeen obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficientinvestigation to make any warranty or representation whatsoever including but not limited to theaccuracy or completeness of the information, veracity or accuracy of the information, condition of theProperty or its compliance or lack of compliance with applicable governmental requirements,developability, suitability or financial performance of the Property, income or expenses for the Property,the size and square footage of the Property and improvements, the presence or absence ofcontaminating substances, PCB’s or asbestos, the compliance with State or Federal regulations, thephysical condition of the improvements thereon, or the financial condition or business Property and doesnot purport to be an all – inclusive representation regarding the Property or to contain all or part of theinformation which prospective investors may require to evaluate the purchase of the Property. Additionalinformation and an opportunity to investigate the Property will be made available to interested andqualified prospective purchasers. All information is based on assumptions relating to the generaleconomy, market conditions, competition and other factors beyond the control of Broker, therefore, allinformation is subject to material variation. The information contained herein is not a substitute for athorough due diligence investigation. Interested parties are expected to review all information ofwhatever nature independently and not rely on the contents of this Memorandum in any manner.

The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offersto purchase the Property, and/or to terminate discussions at any time with or without notice. The Ownershall have no legal commitment or obligation unless and until written agreement(s) have been fullyexecuted, delivered and approved by the Owner and any conditions to the Owner’s obligations thereinhave been satisfied or waived.

Disclaimer & Confidentiality Agreement

Exclusively Marketed By

Woody Stahl

(310) [email protected] - 01399621

310) [email protected] - 01717818

Brett Lyon



Memorandum $850,000 · TORRANCE, CA 90501 Offering Memorandum $850,000 WOODY STAHL (310) 710-3829...

Documents

Transcript of Memorandum $850,000 · TORRANCE, CA 90501 Offering Memorandum $850,000 WOODY STAHL (310) 710-3829...