3779-3781 S Hobart Blvd,Los Angeles, CA
Offering memorandum presented by:John Alden
[email protected](310) 387-3489
$749,000 | 2 Units | 13.23 GRM | 5.0% Cap Rate
EL SEGUNDO | LONG BEACH | TORRANCEBUCKINGHAM INVESTMENTS
INVESTMENT HIGHLIGHTS 3
INVESTMENT SUMMARY 4
RENT ROLL 5
PROPERTY PHOTOS 6
SALES COMPARABLES 7
2 EL SEGUNDO | LONG BEACH | TORRANCE
BUCKINGHAM INVESTMENTS
INVESTMENT HIGHLIGHTS
1
• Large Duplex Comprising 3BD/2BA
rented at $3219/mo. & 1BD/1BA at
$1500/mo.
• Professionally Managed, Turn Key Units
• 3 Car Garage
• Located Near Coliseum, USC and Natural
History Museum
3 EL SEGUNDO | LONG BEACH | TORRANCE
BUCKINGHAM INVESTMENTS
Price $749,000
Year Built 1936
Units 2
Building Sq. Ft 1,873
Lot Sq. Ft 8,530
Price / Sq. Ft $400
Price / Unit $374,500
Garages 3
Current GRM 13.23
Market GRM 12.36
Current Cap Rate 5.0%
Market Cap Rate 5.4%
INVESTMENT SUMMARY
Income Actual Market
Gross Scheduled Rents $56,628 $60,600
Less Vacancy @ 3% ($1,699) ($1,818)
Other Income - -
Effective Gross Income $54,929 $58,782
Expenses Actual Market
Taxes $9,363 $9,363
Insurance $800 $800
Repairs and Maintenance
$2,500 $2,500
Property Management $2,746 $2,939
Utilities $1,440 $1,440
Pest Control $500 $500
Gardening $600 $600
City Licensing and Permits
$500 $500
Total Expenses $18,449 $18,642
Net Operating Income $36,480 $40,140
GENERAL INFORMATION
ANNUALIZED OPERATING DATA
PROPSED FINANCING
Loan Amount (75%) $562,500
Down Pmt (33%) $187,250
Rate (%) 4.5%
Amortization (years) 30
Payment $2,528
Debt Cov. Ratio 1.32
BUCKINGHAM INVESTMENTS
6 EL SEGUNDO | LONG BEACH | TORRANCE
UNIT NUMBER TYPE ACTUAL RENT MARKET RENT
3779 3BD/2BA $3,219 $3,500
3781 1BD/1BA $1,500 $1,550
TOTAL $4,719 $5,050
RENT ROLL
-% Upside to Rents
7BUCKINGHAM INVESTMENTS
EL SEGUNDO | LONG BEACH | TORRANCE
PROPERTY PHOTOS
8BUCKINGHAM INVESTMENTS
EL SEGUNDO | LONG BEACH | TORRANCE
PROPERTY PHOTOS
9BUCKINGHAM INVESTMENTS
EL SEGUNDO | LONG BEACH | TORRANCE
ADDRESS UNIT MIX PRICE UNITSBLDG. SIZE
PRICE / SQ FT
PRICE / UNIT
YEAR BUILT
CAP RATE GRMCLOSE DATE
Subject Property
1 – 3/21 – 1/1
$750,000 2 1,873 $400 $375,000 1936 5.0% 13.23 TBD
1712 W 24th
St3 – 1/11 – 2/1
$725,000 4 2,104 $344 $181,250 1903 3.4% 19.1 ACTIVE
2002 8th Ave 4 – 1/1 $785,000 4 3,152 $249 $196,250 1912 3.1% 20.9 9/14/18
1471 W 37th
St1 – 3/11 – 2/1
$770,000 2 1525 $504 $385,000 1908 4.1% 16.0 2/6/19
AVERAGES $374.25 $284,375 3.5% 18.66
SALES COMPARABLES
1712 W 24th St
2002 8th Ave
1471 W 37th St
10BUCKINGHAM INVESTMENTS
EL SEGUNDO | LONG BEACH | TORRANCE
Subject Property
DISCLAIMER AND CONFIDENTIALITY AGREEMENT
The information contained in this document is private, confidential, and intended solely for the addressed recipient. By receiving and reviewing this document, the intended recipient agrees to maintain the confidentiality of this document. This document is not to be shared, duplicated, recorded, viewed, or disseminated in any fashion without the express written consent of Buckingham Investments. If you are not the intended recipient, do not review the document. Instead, please notify Buckingham Investments that you have received this document erroneously and arrange the return the document to Buckingham Investments.
The sole intended purpose of this document is to provide a brief synopsis of the potential investment in a specific property. The information in this document has been compiled by Buckingham Investments and is only a representation of Buckingham Investments’ opinions at the time the document was created. This document may not represent the current or future opinions of Buckingham Investments regarding this investment opportunity. While Buckingham Investments believes the sources of this information to be reliable, Buckingham Investments has not verified specific information including but not limited to: profit and loss statements, financial statements, size, condition, tenancy, lease status, operational history, or any other details of the property which may be addressed in this document. Buckingham Investments does not warranty the information in this document for any purpose other than as preliminary information regarding a potential real estate investment. This document isnot a substitute for due diligence investigations. Buckingham Investments strongly encourages all potential real estate investors to conduct thorough due diligence investigations prior to entering into any transaction.
