6,714 sf lot 5,175 sf building · tenancy apartments over retail highway access 105 and 170...
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5,175 SFBUILDING
6,714 SFLOT
OFFERING MEMORANDUM | $960,000
9622 - 9624 LONG BEACH BLVD.SOUTH GATE, CA 902802 APARTMENTS OVER 2 RETAIL UNITS OWNER-USER / 90% FINANCING
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© 2018 Hudson Commercial Partners, Inc. The information contained in this document has been obtained from sources believed reliable. While Brookfield 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. and the 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.
TABLE OF CONTENTS
SECTION ONE 04EXECUTIVE OVERVIEW
This Memorandum (“Offering Memorandum”) has been prepared by Hudson Partners, Inc. and BRC Advisors, 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 Partners, Inc. and BRC Advisors, 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 Partners Inc. and BRC Advisors, 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 Partners, Inc. and BRC Advisors, Inc., reserves the right to request the return of any or all of the information enclosed.
SECTION 1 | EXECU
TIVE OVERVIEW
HUDSON COMMERCIAL PARTNERS, INC. - 76 - HUDSON COMMERCIAL PARTNERS, INC.
PROPERTY INFORMATION
site description Physical description
DESCRIPTION SPECIFICATION
PRICE $960,000
BUILDING SIZE 5,175 SF
PRICE/SF (BLDG) $185.50
RETAIL SF ± 2,795 SF
APARTMENT SF ± 2,380 SF
PARCEL AREA 6,714 SF
PRICE/SF (LOT) $142.98
PARCEL NUMBER 6206-014-012
FLOOR-TO-AREA RATIO 0.42
ZONING SGC3
PARKING ± 10 Spaces
PARKING RATIO 1.93/ 1,000 SF
DESCRIPTION SPECIFICATION
CONSTRUCTION TYPE Woodframe/Stucco
FOUNDATION Concrete Slab
FIRE PROTECTION Fire Extinguisher
HVAC Package Units
METERS Separately Metered
CEILING HEIGHT 11-11.5 Feet
LEASE TERM Month to Month
NUMBER OF STORIES 2 Levels
LANDSCAPING None
YEAR BUILT 1945
TRAFFIC COUNT ± 25,259 Cars Per Day
TENANCY Apartments over Retail
HIGHWAY ACCESS 105 and 170 Freeways
Hudson Partners and BRC Advisors exclusively represent a mixed-use freestanding building in the City of South Gate. This building has two retail
tenants on a month-to-month lease: Party Store and a Bar. There are also two apartments upstairs which are also below market rent and each
unit has a 1 bedroom and 1 bath floor plan. Parking access is shared with the neighboring buildings to the north, which is also available for sale at
$1,265,000. This building does qualify for 90% SBA Financing, if a Buyer intends to occupy the entire ground floor. The current income is $3,810
per month which is approximately $.68 per square foot. These rents are well below market leaving tremendous upside for a new Buyer.
INVESTMENT OVERVIEW - 9622-9624
• 90% Financing Available (SBA)
• Month-to-Month Tenancy
• Live/Work Opportunity
• Secured Rear Parking
• Adjacent Parcels For Sale (17,150 SF Total Land)
• Below Market Rent
LOCATION OVERVIEW
This building is situated mid-block between Kansas
Avenue and Missouri Avenue, on the bustling Long
Beach Boulevard. This is nearby access to the 105 and
170 Freeways.
Note: County Assessor’s provided this measurement 1,851 SF. Our hand measurements showed 5,175 SF. Buyer to conduct its own independent investigators regarding square footage.
HUDSON COMMERCIAL PARTNERS, INC. - 98 - HUDSON COMMERCIAL PARTNERS, INC.
SUMMARY TERMS
PRICE $960,000
DOWN PAYMENT (15%) $144,000
GROSS SQUARE FEET 5,175 SF
PRICE PER FOOT ON BUILDING $185.51
LOT SIZE 6,714 SF
PRICE PER FOOT ON LAND $142.98
YEAR BUILT 1945
ZONING SGC3*
DESCRIPTION ESTIMATED PSF
OPERATING EXPENSES
TAXES $12,000 $2.32
INSURANCE $2,239 $0.43
UTILITIES $6,210 $1.20
REPAIRS & MAINTENANCE $4,140 $0.80
CAPITAL RESERVES/MISC $1,294 $0.25
TOTAL OPERATING EXPENSES $25,883 $5.00
DEBT SERVICE $54,075 $10.45
TOTAL OCCUPANCY COSTS $79,958 $15.45
MONTHLY OCCUPANCY COSTS(before tax advantages of ownership) $6,663/MO $1.28 PSF
SUMMARY TERMS
LOAN AMOUNT $816,000
LOAN TYPE SBA Loan
INTEREST RATE 4.5%
AMORITZATION 25 Years
OWNER-USER ESTIMATED ANNUALIZED | USER OCCUPANCY COSTS
LOAN ASSUMPTIONS
USER OCCUPANCY COSTS RENT ROLL - CURRENT
Note: County Assessor’s provided this measurement 1,851 SF. Our hand measurements showed 5,175 SF. Buyer to conduct its own independent investigators regarding square footage.
RETAIL TENANT SQ. FT. RENT PSF LEASE TYPE NNN NNN PSF LEASE EXPIRING OPTION TO RENEW
9622 Party Store +/- 1,085 SF $820 $0.75 Modified Gross $0.00 $0.00 MTM None
9624 Bar +/-1,710 SF $2,060 $1.20 Modified Gross $0.00 $0.00 MTM None
APARTMENT UNIT MIX SQ. FT. RENT PSF WATER/TRASH ELECTRICAL GAS PARKING LAUNDRY
9622 1/2 2 Bedroom + 1 Bath +/- 1,190 $800 $0.67 Landlord Tenant Tenant Free/Rear TBD
9624 1/2 2 Bedroom + 1 Bath +/- 1,190 $130 $0.11 Landlord Tenant Tenant Free/Rear TBD
Montly5,175 SF
$3,810 BASEAVG. PSF$0.68 psf
Annual $45,720
HUDSON COMMERCIAL PARTNERS, INC. - 1110 - HUDSON COMMERCIAL PARTNERS, INC.
9622 PROPERTY PHOTOS9622 PROPERTY PHOTOS
HUDSON COMMERCIAL PARTNERS, INC. - 1312 - HUDSON COMMERCIAL PARTNERS, INC.
PLAT MAP AERIAL
HUDSON COMMERCIAL PARTNERS, INC. - 1514 - HUDSON COMMERCIAL PARTNERS, INC.
RETAIL/STREET LEVEL FLOOR PLANS APARTMENT FLOOR PLANS
16 - HUDSON COMMERCIAL PARTNERS, INC.
ELIZABETH CLARKSenior Vice President
9301 Wilshire Blvd., Suite 206Beverly Hills, CA 90210
Cal BRE: 01811246
CONTACTCELL PHONE310.740.7283
PHONE310.525.3702
FAX320.421.4184
EMAILeclark@brcadvisors.com
WEBSITEwww.brcadvisors.com
JAY MARTINEZManaging Principal
STUDIO CITY OFFICE11846 Ventura Blvd., #140
Studio City, CA 91604
BEVERLY HILLS OFFICE9301 Wilshire Blvd., Suite 206
Beverly Hills, CA 90210
Cal BRE: 01367663
CONTACTCELL PHONE818.212.3057
PHONE818.699.1603
FAX818.688.8140
EMAILjay@hudsonpartnersinc.com
WEBSITEwww.hudsonpartnersinc.com
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