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B U E N A P A R K , C A 9 0 6 2 1

6411 WESTERN AVENUE

$2,350,000PRICE

7TOTAL UNITS

0.29ACRES

2NUMBER OF BUILDINGS

2NUMBER OF STORIES

1977YEAR BUILT

INTEREST OFFERED:

100% Fee InterestTERMS OF SALE:

Cash to New Loan

PROPERTY TOURSProspective purchasers are encouraged to visit the subject property prior to submitting offers. However, all property tours must be arranged with listing agents. At no time shall the tenants, on-site management or staff be contacted without prior approval.

OFFERING SUMMARY SUMMARY OF TERMS

PRICING DETAILSSummary Price $2,350,000Down Payment $940,000 40%Number of Units 7Price Per Unit $335,714Price Per Sq. Ft. $330.99Rentable Sq. Ft. 7,100Lot Size 0.29 AcresApprox. Year Built 1977

Returns Current MarketCAP Rate 4.83% 5.28%GRM 14.98 14.02Cash-on-Cash 12.08% 13.19%

Financing 1st LoanLoan Amount $1,410,000Loan Type NewInterest Rate 4.10%Amortization 0 YearsYear Due 2049Loan information is subject to change. Contact your Cushman & Wakefield representative.

# Of Units Unit Type

Sq. Ft./Unit Avg. Rents

Market Rents

6 2 Bed/ 2 Bath 983 $1,778 $1,895 1 3 Bed / 2 Bath House 1,200 $2,400 $2,595

Operating Data Income Current MarketGross Scheduled Rent $156,840 $167,580Less: Vacancy/Deductions 3.0% $4,705 3.0% $5,027Total Effective Rental Income $152,135 $162,553Other Income $5,760 $5,760Effective Gross Income $157,895 $168,313Less: Expenses 28.1% $44,317 26.3% $44,317Net Operating Income $113,578 $123,996Cash Flow $113,578 $123,996Debt Service $0 $0Net Cash Flow After Debt Service 12.08% $113,578 13.19% $123,996Principal Reduction $0 $0Total Return 12.08% $113,578 13.19% $123,996

Expenses Current MarketReal Estate Taxes $24,910 $24,910Insurance $2,348 $2,348Gas $4,320 $4,320Electric $840 $840Water $3,000 $3,000Trash $2,172 $2,172Maint & Repairs $3,500 $3,500Pest Control $600 $600Gardener $960 $960Special Assessments $1,667 $1,667Total Expenses $44,317 $44,317Expenses/Unit $6,331 $6,331Expenses/SF $6.24 $6.24

OPERATING STATEMENT

Income Current Market Notes Per Unit Per SF

Gross Potential Rent 156,840 167,580 23,940 23.60

Physical Vacancy (4,705) 3.0% (5,027) 3.0% (718) (0.71)

Total Vacancy ($4,705) 3.0% ($5,027) 3.0% ($718) ($1)

Effective Rental Income 152,135 162,553 23,222 22.89

Other Income

Laundry Income 1,800 1,800 257 0.25

Parking Income 3,960 3,960 566 0.56

Total Other Income $5,760 $5,760 $823 $0.81

Effective Gross Income $157,895 $168,313 $24,045 $23.71

Expenses Current Market Notes Per Unit Per SF

Real Estate Taxes 24,910 24,910 1.09 Per 3,559 3.51

Insurance 2,348 2,348 Actual 335 0.33

Gas 4,320 4,320 $360/M 617 0.61

Electric 840 840 $70/M 120 0.12

Water 3,000 3,000 $500/M 429 0.42

Trash 2,172 2,172 $181/M 310 0.31

Maint & Repairs 3,500 3,500 $500/U 500 0.49

Pest Control 600 600 $50/M 86 0.08

Gardener 960 960 $80/M 137 0.14

Special Assessments 1,667 1,667 238 0.23

Total Expenses $44,317 $44,317 $6,331 $6.24

Expenses as % of EGI 28.1% 26.3%

Net Operating Income $113,578 $123,996 $17,714 $17.46

Notes and assumptions to the above analysis are on the following page.

OPERATING STATEMENT

Income Current Market Notes Per Unit Per SF

Gross Potential Rent 156,840 167,580 23,940 23.60

Physical Vacancy (4,705) 3.0% (5,027) 3.0% (718) (0.71)

Total Vacancy ($4,705) 3.0% ($5,027) 3.0% ($718) ($1)

Effective Rental Income 152,135 162,553 23,222 22.89

Other Income

Laundry Income 1,800 1,800 257 0.25

Parking Income 3,960 3,960 566 0.56

Total Other Income $5,760 $5,760 $823 $0.81

Effective Gross Income $157,895 $168,313 $24,045 $23.71

Expenses Current Market Notes Per Unit Per SF

Real Estate Taxes 24,910 24,910 1.09 Per 3,559 3.51

Insurance 2,348 2,348 Actual 335 0.33

Gas 4,320 4,320 $360/M 617 0.61

Electric 840 840 $70/M 120 0.12

Water 3,000 3,000 $500/M 429 0.42

Trash 2,172 2,172 $181/M 310 0.31

Maint & Repairs 3,500 3,500 $500/U 500 0.49

Pest Control 600 600 $50/M 86 0.08

Gardener 960 960 $80/M 137 0.14

Special Assessments 1,667 1,667 238 0.23

Total Expenses $44,317 $44,317 $6,331 $6.24

Expenses as % of EGI 28.1% 26.3%

Net Operating Income $113,578 $123,996 $17,714 $17.46

Notes and assumptions to the above analysis are on the following page.

RENT ROLL SUMMARY As of January, 2020

Display Rent as: Monthly

Rents to Show: Scheduled and Potential

Rental Range Rent: Scheduled

Scheduled Potential

Unit Type# of

UnitsAvg.

Sq. Ft. Rental Range Avg. RentAvg.

Rent/Sq. Ft.Monthly Income Avg. Rent

Avg. Rent/Sq. Ft.

Monthly Income

2 Bedroom / 2 Bathroom 6 983 $1,750 - $1,920 $1,778 $1.81 $10,670 $1,895 $1.93 $11,370

3 Bedroom / 2 Bathroom House 1 1,200 $2,400 - $2,400 $2,400 $2.00 $2,400 $2,595 $2.16 $2,595Totals/Weighted Averages 7 1,014 $1,867 $1.84 $13,070 $1,995 $1.97 $13,965

Gross Annualized Rents $156,840 $167,580

RENT ROLL

Unit Unit TypeSquare

FeetCurrent Rent/

MonthCurrent Rent/Sq. Ft./

MonthPotential Rent/

MonthPotential Rent/Sq. Ft./

Month

1 2 Bedroom / 2 Bathroom 983 $1,750 $1.78 $1,895 $1.93

2 2 Bedroom / 2 Bathroom 983 $1,750 $1.78 $1,895 $1.93

3 2 Bedroom / 2 Bathroom 983 $1,750 $1.78 $1,895 $1.93

4 2 Bedroom / 2 Bathroom 983 $1,750 $1.78 $1,895 $1.93

5 2 Bedroom / 2 Bathroom 983 $1,750 $1.78 $1,895 $1.93

6 2 Bedroom / 2 Bathroom 985 $1,920 $1.95 $1,895 $1.92

7 3 Bedroom / 2 Bathroom 1,200 $2,400 $2.00 $2,595 $2.16

Total 7,100 $13,070 $1.84 $13,965 $1.97

We are pleased to present 6411 Western Avenue, a seven-unit multifamily property located in the City of Buena Park. This asset consists of six 2 bed / 2 bath apartment units and one 3 bed / 2 bath house. The complex is situated on an enclosed corner lot totaling 0.29 acres. The asset is comprised of two separate buildings with an interior courtyard in the middle. A laundry room is located on-site, which is a nice amenity for the residents. All 7 Unit Interiors were recently renovated, 6 have new kitchens and baths, the single story house had the most extensive renovation. The 3 bedroom house renovations include new paint, floors, lighting, granite counter tops, stainless steel appliances, and bathroom vanities. Air conditioning has also been installed. Plenty of parking is available for residents and guests, including seven covered spaces, seven lot spaces, and street parking.

This property is in a good central Buena Park location right near major retail, educational, and employment opportunities. The property is conveniently located near the I-5 Freeway, which allow tenants to connect with the greater California region and beyond. The Source Shopping Center is also near by, less than one mile from the property. This offering provides an investor the opportunity to acquire a well maintained apartment community with exceptional value-add upside in a premier location within the city. Given the strength of the overall apartment market within the city of Buena Park, the property offers an investor the ability to capture quality tenants seeking a great neighborhood with convenient access to a wide variety of activities, transportation and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 6411 Western Avenue.

6411 WESTERN AVE, BUENA PARK, CA 90621

INVESTMENT HIGHLIGHTS• Great Unit Mix: One 3 Bed / 2 Bath

House and Six 2 Bed / 2 Bath Units

• Corner Lot with great visibility on Western Avenue

• All 7 Unit Interiors were recently renovated, 6 have new kitchens and baths, the single story house had the most extensive renovation

• Nicely Landscaped Property

• Pitched Comp Shingle Roof

• 14 parking = 7 covered & 7 uncovered spots

• Solid Buena Park Rental Location next to 5 Freeway and The Source Shopping Mall

PROPERTY DESCRIPTION6411 WESTERN AVE, BUENA PARK, CA 90621

Number of Units 7

Year Built 1977

Number of Buildings 2

Number of Stories 2

Exterior Construction Stucco

Roof Type Pitched

Building Square Footage 7,100 Sq. Ft.

Lot Size 0.29 Acres

Parking Type Carport & Open Spaces

Parcel Number 276-202-25

# Of Units Unit Type Sq. Ft. Current Rent

5 2 Bedroom / 2 Bath 983 SF $1,750

1 2 Bedroom / 2 Bath 985 SF $1,920

1 3 Bedroom / 2 Bath House 1,200 SF $2,400

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SALES COMPARABLES

6411 Western Ave Buena Park, CA 90621

8182 Artesia Blvd Buena Park, CA 90621

Sale Date/Status Active Under Contract

Offering Price: $2,350,000 $5,950,000

Price/Unit: $335,714 $350,000

Price/SF: $330.99 $388.28

CAP Rate: 4.8% 4.5%

GRM: 15.0 15.9

Total No. of Units: 7 17

Year Built: 1977 1988

Unit Mix (6) 2 Bed / 2 Bath (1) 3 Bed / 2 Bath House

(17) 2 Bed / 2 Bath

1

1Site Property

Year Built Unit Type Unit Sq. Ft. Rent Rent Sq. Ft.

6411 Western Ave, Buena Park, CA 90621

19772 Bed / 2 Bath

3 Bed / 2 Bath (House)

983-985 1,200

$1,750-$1,920 $2,400

$1.87 $2.00

8021 9th St, Buena Park, CA 90621

19922 Bed / 2 Bath 1,000 $2,000 $2.00

5400 Cascade Way, Buena Park, CA 90621

19762 Bed / 2 Bath 917 $1,890 $2.06

6749 San Bruno Drive, Buena Park, CA 90620

1955 3 Bed / 2 Bath (House)

1,184

$2,800

$1.91

RENT COMPARABLES

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2

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Site Property