7847 gilliland ave, 5-units...kitchen cabinets, granite countertops, and tile flooring. each unit is...

7847 Gilliland Ave, 5-UnitsBell Gardens, CA 90201-5619

Confidential Offering Memorandum• Description

• Offering Summary

• Rent Roll

• Lease Terms and Deposits

• Rent vs Expenses

• Market Analysis

• Property Photos

• Listing Agent Information

DescriptionOriginally a 3 bedroom 2 bath single family home with a 2 car detached garage, 7847 Gilliland Ave, became 5 units when the original owners built 4 additional, 2 bedroom 1 bath units on the back half of the .26 acre lot. In addition, two carports were built allowing an additional 7 covered carport spaces for the new tenants. Bringing the total to 5 units, 1-3 bedroom/2 bath unit, 4-2 bedroom/1 bath units, 1-2 car garage, 7 carports, and 4 open parking spaces. The detached garage has a laundry room currently used by the 3 bedroom unit, as well as a toilet.

2 bedroom 1 bath unitsEach of the 2 bedroom 1 bath units was updated with new kitchen cabinets, granite countertops, and tile flooring.

Each unit is separately metered for gas and electricity.

Each unit has washer and dryer hook ups in the unit.

Each unit has a wall heater and window air conditioning unit.

Beds RentAll beds 1,6281 beds 1,3982 beds 1,575

Rent trend data in Bell Gardens, California

Bell Gardens Average RentAs of March 2019, average rent for an apartment in Bell Gardens, CA is $1628 which is a 17.69% increase from last year when the average rent was $1340 , and a 0% increase from last month when the average rent was $1628.

One bedroom apartments in Bell Gardens rent for $1398 a month on average (a 13.88% increase from last year) and two bedroom apartment rents average $1575 (a 11.05% increase from last year).

https://www.rentjungle.com/average-rent-in-bell-gardens-ca-rent-trends/

The maps on the previous page show the proximity to the Bell Gardens Sports Park.In addition, each unit has been marked to show its location on the property.

The information below is available from www.rentjungle.com.

https://www.rentjungle.com/average-rent-in-bell-gardens-ca-rent-trends/http://www.rentjungle.com/

Offering Summary7847 Gilliland Ave

Bell Gardens, CA 90201

Price: $1,490,000 GRM: 13.5

No. Units: 5 Lot Size: .26 Acres

Property Type: Multifamily Building Size: 4446

Property Sub-type: Apartments No. Stories: 1

Apartment Style: Low Rise Year Built: 1958

Building Class: C Parking: 12 total

Sale Type: Investment Zoning Description: BGR3*

Cap Rate: 5.5% APN: 6230-022-012

Total Monthly Annually Future Cap Rate GRM

Rent Income $7,790 $93,480 $109,960 13.5

Expenses -$1678.99 -$20,147.88 -$28,222.19

NET $6111 $73,332 $81,737.81 5.5%

7847 Gilliland AveBell Gardens, CA 90201Offering Summary Cont.

***Sale is subject to and contingent on Seller’s 1031 Exchange, at no cost to Buyer.***

Rent Roll7847 Gilliland Ave


Unit Unit Mix Parking Actual RentPro

Forma Annual

7847 3bd/2ba 2 car garage/3 parking spots $1800 $2200 $26,400

7849 2bd/1ba 2 carports $1595 $1595 $19,140

7849.5 2bd/1ba 2 carports $1595 $1595 $19,140

7851 2bd/1ba 1 carport $1400 $1595 $19,140

7851.5 2bd/1ba 2 carports $1400 $1595 $19,140

5 Units 11bd/6ba 12 parking spots $7790 $8580 $102,960.00

Lease Terms and Deposits7847 Gilliland Ave


Unit Unit Mix Lease Begins Term Deposit Rent Increased

7847 3bd/2ba April 1, 2013 Month to Month $500 never

7849 2bd/1ba August 1, 2018 12 months $1595 never

7849.5 2bd/1ba April 1, 2018 Month to Month $1595 never

7851 2bd/1ba February 1, 2016 Month to Month $2800 never

7851.5 2bd/1ba February 1, 2016 Month to Month $1400 never

5 Units 11bd/6ba 100% occupied 1 term, 4 MtM $6490 Rent never increased

Rent vs Expenses7847 Gilliland Ave


Monthly Annually Future

Rent Income $7,790 $93,480 $109,960

Taxes -$847.83 -$10,174 Rate 1.124141%

Management -$389.50 -$4,674 -$5498

Insurance -$83.33 -$1,000 -$1,000

Water -$150 -$1,800 -$1,800

Trash -$108.33 -$1,300 -$1,300

Landscaping -$100 -$1,200 -$1,200

NET $6111 $73,332 $81,737.81

Summary of Sold Comparable ListingsThis page summarizes the comparable listings contained in this market analysis.ClosedAddress L/S Price Units Sqft $/Sq Built ML# Sold Date CDOM7847 Gilliland Av $1,550,000 5 4,446 $348.63 1958 PW19079500 4/09/19 11387 Mira Mar AV $1,515,000 5 3603 $420.48 1950 PW18263304 12/11/18 91153 Beachwood DR $1,530,000 5

53938 $388.52 1991 18407310 11/13/18 0

285 Montecito AV $1,550,000 3155 $491.28 1960 AR18087557 7/05/18 281234 17Th ST $1,550,000 5 3229 $480.02 1923 SB18172119 12/31/18 721802 Delaware AV $1,580,000 5 3252 $485.85 1940 17243012 1/24/18 1645142 Clara ST $1,625,000 5 5697 $285.24 1988 RS18097438 7/25/18 15309 Allen AV $1,650,000 5 4224 $390.62 1956 AR17099502 6/01/18 3762310 Ocean Park BL $1,650,000 5 3260 $506.13 1952 SR18140678 8/31/18 671160 Exposition BL $1,650,000 5 3119 $529.02 1936 SR18003747 10/09/18 174433 Baldwin AV $1,700,000 5 3998 $425.21 1953 AR17026524 4/28/17 57

$1,600,000 3,748 $440 1955 96

Median: Average:

$1,602,500$1,600,000

On average, these comparable listings sold in 96 days for $ 1,600,000

5

Photos

7847 Gilliland Ave 7847 Gilliland Ave

7847 Gilliland AveBell Gardens, CA 90201

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4 Bay Carport 3 Bay Carport


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7849 Gilliland Ave 7849 Gilliland Ave


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7849 Gilliland Ave 7849.5 Gilliland Ave


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7851 Gilliland Ave 7851.5 Gilliland Ave


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7851.5 Gilliland Ave 7851.5 Gilliland Ave


Abraham Lee | Founder, Executive Vice President, Realtor

173 N Glassell St, Orange CA 92866 m: 714.514.1766 | o: 714.543.7800 ext.11 | f: 949.419.2634 toll free: 866.MyNakoma | e: [email protected] Abraham Lee License #01916988 | Nakoma Realty Company License #01810280 Visit us on the web: www.nakomarealty.com Property Management: www.orangeleases.com Explore your Loan Options: www.nakomamortgage.com

Connect with us on Social Media

Abraham Lee | Founder, Executive Vice President, Realtor

173 N Glassell St, Orange CA 92866

m: 714.514.1766 | o: 714.543.7800 ext.11 | f: 949.419.2634

toll free: 866.MyNakoma | e: [email protected]

Abraham Lee License #01916988 | Nakoma Realty Company License #01810280

Visit us on the web: www.nakomarealty.com

Property Management: www.orangeleases.com

Explore your Loan Options: www.nakomamortgage.com

Connect with us on Social Media

7847 Gilliland Ave, 5-UnitsConfidential Offering MemorandumDescription2 bedroom 1 bath unitsSlide Number 5Slide Number 6Slide Number 7Slide Number 8Rent RollSlide Number 10Rent vs ExpensesSlide Number 12PhotosPhotosPhotosPhotosPhotosPhotosPhotosPhotosPhotosPhotosSlide Number 23

7847 gilliland ave, 5-units...kitchen cabinets, granite countertops, and tile flooring. each unit is...

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