3535 century lane lynwood, ca 90262€¦ · furnished to us by sources we deem to be reliable. no...

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3535 CENTURY LANE LYNWOOD, CA 90262MIXED-USE APARTMENTS/RETAILREPOSITIONING/ USER OPPORTUNITY

OFFERING MEMORANDUM | LISTED AT $950,000

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This Memorandum (“Offering Memorandum”) has been prepared by Hudson Commercial Partners, Inc. based on information that was furnished to us by sources we deem to be reliable. No warranty or representation is made to the accuracy thereof; subject to correction of errors, omissions, change of price, prior sale, or withdrawal from market without notice.

This Memorandum is being delivered to a limited number of parties who may be interested in and capable of purchasing the Property. By its acceptance hereof, each recipient agrees that it will not copy, reproduce or distribute to others this Memorandum in whole or in part, at any time, without the prior written consent of Hudson Commercial Partners, Inc., and it will keep permanently confidential all information contained herein not already public and will use this Confidential Memorandum only for the purpose of evaluating the possible acquisition of the Property.

This Memorandum does not purport to provide a complete or fully accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information, which prospective buyers may need, or desire. All financial projections are based on assumptions relating to the general economy, competition and other factors beyond the control of the Owner and, therefore, are subject to material variation. This Memorandum does not constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this Memorandum.

This Memorandum is being delivered by Hudson Commercial Partners, Inc. to prospective purchasers with the understanding that all prospective purchasers will conduct their own independent investigation of those matters, which they deem appropriate in order to evaluate this offering. Additional information and an opportunity to inspect the site will be made available to interested and qualified prospective purchasers. Hudson Commercial Partners, Inc. reserves the right to request the return of any or all of the information enclosed.

TABLE OF CONTENTS

SECTION ONE 04EXECUTIVE OVERVIEW

SECTION TWO 08PROPERTY INFORMATION

© 2017 Hudson Commercial Partners, Inc. The information contained in this document has been obtained from sources believed reliable. While Hudson Commercial Partners, Inc. does not doubt its accuracy, Hudson Commercial Partners, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors, which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Hudson Commercial Partners, Inc. logo are service marks of Hudson Commercial Partners, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

© 2017 Hudson Commercial Partners, Inc. The information contained in this document has been obtained from sources believed reliable. While Hudson Commercial Partners, Inc. does not doubt its accuracy, Hudson Commercial Partners, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors, which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Hudson Commercial Partners, Inc. logo are service marks of Hudson Commercial Partners, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

HUDSON COMMERCIAL PARTNERS, INC. - 76 - HUDSON COMMERCIAL PARTNERS, INC.

PROPERTY INFORMATION PROPERTY OVERVIEW

Hudson Partners has been exclusively retained to market the sale of this mixed-use valued added opportunity. The Seller currently occupies the second floor which is a four bedroom and two bath apartment, with a single family home layout.

Seller intends to vacate their unit at the close of escrow, giving the Buyer a live/work opportunity or allowing an Investor to rent out at market rents. There is a +/- 550 sf two-car garage which Seller will vacate. This additional structure can be leased out providing another supplemental income stream. The first floor has three street level tenants, two Central American restaurants, and a Barbershop in the middle. An Investor can achieve over an 8 Cap Rate, with reasonable market rent assumptions. On the other hand, a retail business operator can purchase this property with 90% SBA Financing, if their intentions are to occupy the premises with the required percentage of 51%.

PROPERTY HIGHLIGHTS

* Ideal Live/Work Opportunity* Immediate 8 Cap Potential* Corner Location/ Excellent Exposure* Potential Owner-User/90% Financing* Proximity St. Francis Medical Center* Next to 710 and 105 Freeways* Generous Building-to-land Ratio (0.37)* 4 Bedroom/2 Bath SFR Layout

Motivated Seller Submit All Offers


RENT ROLL - CURRENT

RETAIL TENANT SQ. FT. RENT PSF LEASE TYPE NNN NNN PSF LEASE EXPIRING OPTION TO RENEW

3535 Birra y Gorditas +/- 900 SF $1,800 $2.00 Modified Gross $0.00 $0.00 05/31/2018 None

3535 1/2 Barbershop +/- 900 SF $1,100 $1.22 Modified Gross $0.00 $0.00 04/30/2019 None

3537 El Buen Sabor +/- 900 SF $1,800 $2.00 Modified Gross $0.00 $0.00 11/30/2018 None

+/- 2700 SF $4,700 $1.74 Avg

APARTMENT TENTANT SQ. FT. RENT PSF LEASE TYPE CAM CAM PSF EXPIRES OPTION TO RENEW

3535 Birra y Gorditas +/- 900 sf $1,800 $2.00 NN $225 $.25 TBD None

3535 1/2 Barbershop +/- 900 sf $1,800 $2.00 NN $225 $.25 TBD None

3537 El Buen Sabor +/- 900 sf $1,800 $2.00 NN $225 $.25 TBD None

Garage Storage +/- 550sf $350 $.64 FSG --- --- --- ---

APARTMENT UNIT MX SQ. FT RENT PSF UTLITIES

3537 1/24 Bedroom

2 Bath2 Kitchens

+/- 1,971 $2,000 $1.02Tenant - Electrical

/GasLandlord - Water

100% 4,671 SF5221 SF

$7,750 BASEAVG. PSF$1.28 psf

$675

$93,000 $8,100

RENT ROLL - PRO-FORMA 2019

NOTE: Garage Square Foot is not included in Gross Square Footage

FINANCIAL ANALYSIS

SUMMARY TERMS

PRICE $950,000RENTABLE SQUARE FEET 4,671 SF

TOTAL IMPROVEMENTS SF 5,221 SF

PER SQUARE FOOT - RENTALBE $203.38

PER SQUARE FOOT - IMPROVEMENTS $181.96

LOT SIZE 7,246 SF

PER SQUARE FOOT LOT $131.11

PRO-FORMA 8.04%

PRO-FORMA 2019 INVESTMENT SUMMARY

ANULAIZED EXPENSES ESTIMATED PSF

OPERATING EXPENSES

TAXES (1.25%) $11,562 $2.47

INSURANCE $2,150 $0.45

UTILITIES $3,850 $0.83

REPAIRS & MAINTENANCE $5,000 $1.07

CAPITAL RESERVE/MISC $1,200 $0.25

MANAGEMENT (3.8%) $4,000 $0.85

TOTAL OPERATING EXPENSES $27,762 $5.94

PRO-FORMA 2019 INCOME PER SQ. FT

POTENTIAL GROSS $93,000 $19.91

CAM REIMBURSEMENT $8,100 $1.73

TOTAL INCOME $101,100 $21.64

VACANCY (3%) ($3,033) ($0.65)

EFFECTIVE GROSS $104,133 $22.29

OPERATING EXPENSES ($27,762) ($5.94)

NET OPERATING EXPENSES $76,371 $16.35

PRO-FORMA 2019 ASSUMPTIONS: (1) $0.25 CAM Reimbursement for ground-floor tenants. (2) Barbershop paying $2.00 psf Plus CAM. (3) Garages rent at $300 per month


DESCRIPTION SPECIFICATION

TOTAL BUILDING SIZE 4,671 SF

GARAGE 550 SF

TOTAL BUILDINGS 5221 SF

RETAIL/RESTAURANT +/- 2671 SF

RETAIL/RESTAURANT (3) +/- 900 SF

APARTMENT SF +/- 2,000 SF

APARTMENT 4 Bedroom/2 Bath

LOT SIZE 7,246 SF

PARCEL NUMBER 6223-003-040

NUMBER OF STORIES 2

FLOOR TO AREA RATIO 0.37

ZONING LYC2

YEAR BUILT 1962

TENANCY Retail/Residential

LOT DIMENSIONS 64’ x 113’

DESCRIPTION SPECIFICATION

CONSTRUCTION TYPE Woodframe/Stucco

FOUNDATION Concrete Slab

FIRE PROTECTION Fire Extinguisher

HVAC Package 5 Ton Units - TBD

METERS Separately Metered - Ground Floor

CEILING HEIGHT TBD - Retail

LEASE TYPE Modified Gross MTM

LANDSCAPING None

PARKING 10 spaces and 2 Garages Spaces

PARKING RATIO 2.57 per 1,000 SF

TRAFFIC COUNT +/- 13,473 per day

HIGHWAY ACCESS 105 and 710 Freeway

PROPERTY INFORMATION


PLAT MAPAERIAL


AERIAL OVERVIEW PLAT MAP


JAY MARTINEZManaging Principal

11846 Ventura Blvd.Suite 140

Studio City, CA 91604

Cal BRE: 01367663

CONTACT

C: 818.212.3057P: 818.699.1603F: 818.688.8140E: [email protected]

3535 century lane lynwood, ca 90262€¦ · furnished to us by sources we deem to be reliable. no...

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