Properties for Sale 1 15526 Chase St , North Hills , CA 91343 Chase St North Hills CA-COmb.pdf15526...
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Prepared for 6/30/2017 (562) 219-4989 [email protected] License: 01430358 Properties for Sale Presented by Jesse Lee America Realty Orange County Property Details Price $6,575,000 No. Units 39 Building Size 29,243 SF Lot Size 37,375 SF Price/Unit $168,589.74 /Unit Property Type Multifamily Property Sub-type Garden/Low-Rise Property Use Type Investment Commission Split 2% Cap Rate 4.84% Gross Rent Multiplier 12.26 Occupancy 100% No. Stories 2 Year Built 1965 Parking Ratio 0.95 / 1,000 SF Tax ID/APN 2654-028-025 Status Active Property Notes 1 15526 Chase St, North Hills, CA 91343 Property Description 15526 Chase St. is comprised of 39 garden style apartment units in one 2 story building. The building construction is of wood frame with a flat roof & painted stucco exterior.The apartment units are spacious and consist of 19 singles, 2 (1+1), 5 (2+1), 9 (2+2), & 4 (3+2) units. Common area amenities include controlled gated access, covered parking, laundry room, multiple storage rooms, and a courtyard showcasing a beautiful drought resistant garden. Unit amenities include wall A/C units, microwave, stove, patios and balconies (for all units excluding 1 single unit), tile floors, and granite countertops. The property is separately metered for gas & electricity. There are a total of 37parking spaces of which 22 are tuck under, 12 are carport, and 3 are open spaces. Aesthetically, the property has gone through some major exterior capital improvements which include; new slurry coat and restriping of the parking lot and driveway, complete exterior paint and trim of the building and resurfacing of common area common area walkways and stairs. All of which provide for a clean aesthetically pleasing property for both a new owner and current tenants. Location Description 15526 Chase St. is centrally located in a family oriented community of North Hills adjacent to Van Nuys. The property is just north of Roscoe Blvd and east of the 405 freeway. The 15500 block of Chase St. is a low traffic quiet residential tree lined street. The immediate vicinity consists of well-maintained apartment buildings and single-family homes. The property is near convenient access to the 405 freeway and centered between three other major freeways, the 101 Freeway to the south, 118 to the north, and 170 to the east. Public transit is also convenient as bus stops and the Metrolink station are within walking distance of the property. The orange line station is another great alternative for public transportation available to tenants.
Transcript of Properties for Sale 1 15526 Chase St , North Hills , CA 91343 Chase St North Hills CA-COmb.pdf15526...
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Prepared for 6/30/2017
(562) [email protected]: 01430358
Properties for Sale
Presented by Jesse LeeAmerica Realty Orange County
Property Details
Price $6,575,000
No. Units 39
Building Size 29,243 SF
Lot Size 37,375 SF
Price/Unit $168,589.74 /Unit
Property Type Multifamily
Property Sub-type Garden/Low-Rise
Property Use Type Investment
Commission Split 2%
Cap Rate 4.84%
Gross Rent Multiplier 12.26
Occupancy 100%
No. Stories 2
Year Built 1965
Parking Ratio 0.95 / 1,000 SF
Tax ID/APN 2654-028-025
Status Active
Property Notes
1 15526 Chase St, North Hills, CA 91343
Property Description
15526 Chase St. is comprised of 39 garden style apartment units in one 2 story building. The building construction is of wood frame with a flat roof & paintedstucco exterior.The apartment units are spacious and consist of 19 singles, 2 (1+1), 5 (2+1), 9 (2+2), & 4 (3+2) units. Common area amenities include controlledgated access, covered parking, laundry room, multiple storage rooms, and a courtyard showcasing a beautiful drought resistant garden. Unit amenities includewall A/C units, microwave, stove, patios and balconies (for all units excluding 1 single unit), tile floors, and granite countertops. The property is separatelymetered for gas & electricity. There are a total of 37parking spaces of which 22 are tuck under, 12 are carport, and 3 are open spaces. Aesthetically, theproperty has gone through some major exterior capital improvements which include; new slurry coat and restriping of the parking lot and driveway, completeexterior paint and trim of the building and resurfacing of common area common area walkways and stairs. All of which provide for a clean aestheticallypleasing property for both a new owner and current tenants.
Location Description
15526 Chase St. is centrally located in a family oriented community of North Hills adjacent to Van Nuys. The property is just north of Roscoe Blvd and east ofthe 405 freeway. The 15500 block of Chase St. is a low traffic quiet residential tree lined street. The immediate vicinity consists of well-maintained apartmentbuildings and single-family homes. The property is near convenient access to the 405 freeway and centered between three other major freeways, the 101Freeway to the south, 118 to the north, and 170 to the east. Public transit is also convenient as bus stops and the Metrolink station are within walking distanceof the property. The orange line station is another great alternative for public transportation available to tenants.
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Raymond A. Rodriguez Scotty WeissteinDirector, Multifamily Investments Director, Multifamily InvestmentsTel. 818.657.6513 Tel. [email protected] [email protected]
SUMMARY PROPOSED FINANCINGPurchase Price: $4,273,750Down Payment: 35% 3.75%Number of Units: 5 Years FixedCost per Legal Unit: 30Current GRM: 30Current CAP:Year Built: Other Terms: N/AApprox. Building SF:Cost per Building SF:Approx. Lot SF:Zoning:Parking:
ANNUAL OPERATING DATA HIGHLIGHTSScheduled Gross Income: $536,089 $603,180 PropertyLess Vacancy Reserve: ($16,083) 3.00% * ($18,095) 3.00% * * Excellent unit mixGross Operating Income: $520,007 $585,085 * Rental upside potentialLess Expenses: ($201,740) 37.63% * ($201,740) 33.45% * * Well maintaintedNet Operating Income: $318,267 $383,345 * Nice spacious unitsLess Debt Service: ($237,509) ($237,509) LocationPre‐Tax Cash Flow: $80,758 3.51% ** $145,836 6.34% ** * Strong rental marketPlus Principal Reduction: $78,585 $78,585 * Conveniently located near 405Total Return Before Taxes: $159,343 6.92% ** $224,421 9.75% ** * Near public transportation* As a percentage of Scheduled Gross Income. **As a percentage of Down Payment. * Central valley location
SCHEDULED INCOME ESTIMATED ANNUAL EXPENSESNo. Beds / Approx. Monthly Avg. Monthly Tax Year 2017
of Units Baths Sq.Ft. Rent / Unit Rent / Unit Tax Rate 1.25% $82,18819 Single ‐ $847 $950 Insurance (New) $13,1592 1+1 ‐ $948 $1,095 Maint. / Repairs $21,4505 2+1 ‐ $1,328 $1,450 Utilities $45,6309 2+2 ‐ $1,377 $1,550 Rubbish $3,7504 3+2 ‐ $1,600 $1,895 Misc. / Reserves $7,800
‐ Off‐Site Mgmt. $18,763‐ Resident Manager $9,000
Monthly Scheduled Rent: Total Expenses: $201,740Laundry Income: Per Gross Sq. Ft.: $6.90RUBS: Expenses Per Unit: $5,172.82Vending Machines:Monthly SGI:Annual SGI:
Utilities Paid by Tenant: Electricity & Gas
$7,580
$16,100
$50,265$603,180
$49,020$780
$65$400
$65$44,674$536,089
$43,429$780$400
$6,399
4.84%196529,243
$18,050
39 Units15526 Chase St. North Hills, CA 91343MARKET
CURRENT MARKET
CURRENT
CURRENT
5.83%
Income
$6,575,000$2,301,250
39$168,59012.26
Income
MARKET
$224.8437,375LAR337
MonthlyMonthly
Loan:Interest:Interest Type:Term (Yrs.):Amortization (Yrs.):10.90
$1,896$6,641$12,393
$2,190$7,250$13,950
This information is from sources deemed reliable, we make no representations or warranties, expressed or implied, as to its accuracy. All references are approximate . Buyer to verify all information and bears all risk for any inaccuracies.
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Raymond A. Rodriguez Scotty Weisttein Director, Multifamily Investments Director, Multifamily InvestmentsTel. 818.657.6513 Tel. [email protected] [email protected]
APT # TENANT'S NAME SQ. FT. RENTS NOTES CONCESSIONS
1 2 2 $1,409.25
2 0 0 $847.03
3 0 0 $879.11
4 0 0 $832.49
5 0 0 $878.81
6 2 2 $1,015.32
7 3 2 $1,895.00 Manager Unit
8 2 1 $1,445.31
9 0 1 $674.92
10 2 2 $1,356.46
11 0 1 $928.61
12 0 1 $844.97
13 0 1 $874.63
14 0 1 $882.03
15 1 1 $999.69
16 3 2 $1,853.61
17 2 1 $1,278.82
18 2 2 $1,382.17
19 2 2 $1,496.81
20 2 2 $1,595.00
21 0 1 $846.42
22 0 1 $948.61
23 0 1 $822.46
24 0 1 $877.79
25 1 1 $896.61
26 3 2 $1,254.35
27 2 1 $1,286.64
28 0 1 $847.03
29 2 2 $1,355.65
30 0 1 $878.81
31 0 1 $890.48
32 0 1 $849.55
33 0 1 $822.46
34 2 1 $1,353.95
35 3 2 $1,396.31
36 2 1 $1,276.08
37 2 2 $1,445.31
38 2 2 $1,336.78
39 0 1 $673.70
MONTHLY RENTAL INCOME: $43,429.03
MONTHLY LAUNDRY INCOME: $780.00MONTHLY RUBS: $400.00MONTHLY VENDING MACHINES: $65.00TOTAL GROSS MONTHLY INCOME: $44,674.03
ALL COLUMNS & SECTIONS MUST BE COMPLETEDWhat utilities are included in rent? Is the property subject to rent control? YES X NO
PROPERTY ADDRESS STATE ZIP CODE15526 Chase St. North Hills CA 91343TOTAL # OF UNITS # OF VACANT UNITS # OF FURNISHED UNITS # OF SECTION 8 UNITS39
BEDS/BATHS DEPOSITS SEC8 Y/N
Rent RollPage 1 of 2
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Electricity GasX Garbage Heat If YES, what is the current allowable increase per annum?
Cable X WaterWhat has been your average monthly occupancy rate overthe preceding 12 Months?
3%
This information is secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to its accuracy. References to square footage and age are approximate. Buyer must verify all information and bears all risk for any inaccuracies.
Rent RollPage 2 of 2
Properties for SaleProperties for Sale
115526 Chase St, North Hills, CA€91343Photos
Executive Summary - 15526 Chase St
