hayes commercial group brochure v2 - loopnet€¦ · price: $1,550,000 units: 4 unit mix: 1 x...

Christos [email protected]. 01342996

The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. This is an Equal Housing Opportunity.

• 4 Large units 3BD/2BA Townhome,

2BD/2BA Flat, and 2 x 1BD/1BA Flats

• Prime Ventura Keys location

• Two blocks from the beach• Potential of 25% upside

in rents

FOR SALE2661-2667 E Harbor Blvd

Ventura, California

Price: $1,550,000Units: 4Unit Mix: 1 X 3BD/2BA townhome

1 X 2BD/2BA flat 2 X 1BD/1BA flat

APN: 080-0-320-095Building Size: Approx. 4,272 SFLot Size: Approx. 6,000 SFParking: 4 garage spaces and 4 uncoveredLaundry Room: On-site, coin operatedZoning: R-3-3Year Built: Approx. 1970Utilities: Separate meters for electric; house

meters for water, gas, and electric (laundry & ext. lights)

Cap Rate: 2.67% (current) 3.90% (proforma)GRM: 20.02 (current) 15.79 (proforma)CSO: 2.5%Showings: Subject to receiving offer

Property OverviewPride-of-ownership fourplex just two blocks from the beach in the Ventura Keys, a short walk to Marina Park and moments to several shops and restaurants. This property has been meticulously maintained, providing for low future maintenance expense for a new owner. Additionally, all units offer expansive floor plans with large living rooms and large bedrooms. Each unit has either a patio or balcony and two parking spaces. On site laundry is coin operated and owned by the sellers. Current rents are well below market, providing possibly up to 25% of upside income.

The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. This is an Equal Housing Opportunity. 2/26/19


Experience. Integrity. Trust.Since 1993

222 E. Carrillo Street, Suite 101, Santa Barbara, California 93101 | HayesCommercial.com 2

2661-2667 E Harbor Blvd, Ventura, CA | Ventura Keys Fourplex with Upside | 4 UnitsFOR SALE

UNITMIX&RENTROLLPrice: ____

#ofUnits: ____4

PricePerUnit: ____$387,500

GRM: ____20.02 CurrentRents 2661HarborBlvd-3BD/2BA 1 n/a 1,800$ 1,800$ 21,600$ 2,675$ 2,675$ 32,100$

CAPRate: ____2.67% CurrentRents 2663HarborBlvd-1BD/1BA 1 n/a 1,495$ 1,450$ 17,400$ 1,550$ 1,550$ 18,600$

GRM: ____15.79 MarketRents 2665HarborBlvd-1BD/1BA 1 n/a 1,450$ 1,495$ 17,940$ 1,550$ 1,550$ 18,600$

CAPRate: ____3.90% MarketRents 2667HarborBlvd-2BD/2BA 1 n/a 1,600$ 1,600$ 19,200$ 2,300$ 2,300$ 27,600$

LandArea(Sq.Ft.): ____6,000

Price/LandArea: ____$258

BuildingArea(Sq.Ft.): ____4,272

Price/BuildingArea: ____$363

TOTALS 4 4,272 6,345$ 76,140$ 8,075$ 96,900$

DownPayment: ____DownPayment(%): ____55.00% INCOME&EXPENSEANALYSIS

TotalLoan: ____

DebtCoverageRa]o: ____1.00 PerMonth PerYear PerMonth PerYear

Amor]za]on: ____30Years TotalGrossPoten]alRentalIncome 6,345$ 76,140$ 8,075$ 96,900$

Term: ____30Years LaundryIncome(Note#6) 107$ 1,284$ 107$ 1,284$

Rate: ____4.250% TotalGrossPoten]alIncome 6,452$ 77,424$ 8,182$ 98,184$

MonthlyLoanPayment: ____$3,431 (LESS)VacancyRate 3% (194)$ (2,323)$ (245)$ (2,946)$

AnnualLoanPayment: ____$41,175

AnnualInterestPayment: ____$29,416 EFFECTIVEGROSSINCOME(EGI) 6,258$ 75,101$ 7,937$ 95,238$

Notes %ofEGI %ofEGIRealEstateTaxes 1.05% 22.43% 1,404$ 16,846$ 17.69% 1,404$ 16,846$

PropertyValue: ____ Insurance EsOmated 2.40% 150$ 1,800$ 1.89% 150$ 1,800$

%ofImprovements: ____65% EsOmated Gas 2018Actual 1.35% 84$ 1,011$ 1.06% 84$ 1,011$

DepreciableBasis: ____ Electric 2018Actual 0.84% 52$ 628$ 0.66% 52$ 628$

Deprecia]onSchedule: ____27.5Years Water/Sewer/Trash 2018Actual 4.81% 301$ 3,613$ 3.79% 13$ 3,613$

AnnualDeprecia]on: ____$36,636 Supplies&Services EsOmated 0.23% 15$ 175$ 0.18% 15$ 175$

Repairs&Maintenance Est.$650/Unit/Year 3.46% 217$ 2,600$ 3.46% 217$ 2,600$PropertyManager 5%ofEGI 5.00% 313$ 3,755$ 5.00% 397$ 4,762$

Taxes,Licenses&Prof.Fees EsOmated 0.33% 21$ 250$ 0.26% 21$ 250$

PestControl EsOmated 0.67% 42$ 500$ 0.52% 42$ 500$

Gardening EsOmated 2.40% 150$ 1,800$ 1.89% 150$ 1,800$

Reserves Est.$200/Unit 1.07% 67$ 800$ 0.84% 67$ 800$

(LESS)TOTALANNUALEXPENSES(Note#4) 44.98% (2,815)$ (33,778)$ 37.26% (2,611)$ (34,785)$

NETOPERATINGINCOME(NOI) 3,444$ 41,324$ 5,326$ 60,454$

$1,550,000

$1,007,500

MARKETRENTS(Note#3)

$852,500

UnitSize(Note#1)

MonthlyRent TotalMonthlyRent

TotalAnnualRent MonthlyRent TotalMonthlyRent

TotalAnnualRent

PROPERTYDETAILS$1,550,000 CURRENTRENTS(Note#2)

UnitType #ofUnits

FINANCING(Note#5)

DEPRECIATION

MARKETRENTS(Note#3)$697,500 CURRENTRENTS(Note#2)

Note6:W&DareSellerowned.Incomeshownismonthlyaverage

NOTESNote1:UnitSFisunknownbuttotalbuildingSFisperpublicrecord

Note2:CurrentRentsareesOmatedprovidedbyOwner

Note3:MarketRentsareesOmatesbasedonmarketcondiOons

Note4:Expensesareboth2018ActualsandEsOmates

Note5:LoantermsareesOmates.Buyertoverify.






Aerial Looking Southwest

Subject

Peninsula St

E Harbor Blvd

Photos

Subject

Peninsula St

E Harbor Blvd






Photos






Subject

Recent Comparable Sales (2017 - 2019)Address Units ListPrice Price/Unit

GRM(current)

GRM(mktrents)

2661-7EHarborBlvdVenturaKeys 4 $1,550,000 $387,500 20.02 15.79

Address Units SalePrice Price/UnitGRM

(current)Days

onMkt

2594SeahorseAveVenturaKeys 4 $1,895,000 $473,750 17.45 2

3305HilltopDrVenturaHillside 4 $1,550,000 $387,500 24.26 46

892ChurchStVenturaHillside 4 $1,500,000 $375,000 16.46 1

102NKaloramaStDowntownVentura 4 $1,475,000 $368,750 19.70 1

3316OceanDrHollywoodBeach(Oxnard)

4 $1,450,000 $362,500 20.00 38

141ESimpsonStVentura 4 $1,400,000 $350,000 14.60 1

2433PierpontBlvdPierpont 4 $1,375,000 $343,750 18.10 33

Averages $1,520,714 $380,179 18.65 17

1

1

2

2

3

3

4

4

5

5

6

6

7

7

Ventura






SubjectProperty BD BA CurrentRent2663-2665HarborBlvd 1 1 $1,450&$1,4952667HarborBlvd 2 2 $1,6002661HarborBlvd 3 2 $1,800

Address BD BA AskingRent1 EHarborBlvd&PeninsulaSt 1 1 $1,4001 EHarborBlvd&PeninsulaSt 1 1 $1,4002 HanoverLn&PierpontBlvd 1 1 $1,5953 2457PierpontBlvd 1 1 $1,6004 2655EHarborBlvd 1 1 $1,6005 PierpontBlvd&WeymouthLn 1 1 $1,6255 PierpontBlvd&WeymouthLn 1 1 $1,625

1BDAverage $1,549

Address BD BA AskingRent6 3057EHarborBlvd 2 1.5 $1,9007 2531EHarborBlvd 2 1 $1,9008 2555EHarborBlvd 2 1 $2,2001 EHarborBlvd&PeninsulaSt 2 1 $2,2009 890PeninsulaSt 2 1.5 $2,2501 EHarborBlvd&PeninsulaSt 2 2 $2,3751 EHarborBlvd&PeninsulaSt 2 2 $2,37510 2409BayshoreAve 2 1.5 $2,50011 2709BayshoreAve 2 1.5 $2,50012 PeninsulaSt&SeahorseAve 2 2 $2,60013 PeninsulaSt&BayshoreAve 2 2 $2,650

2BDAverage $2,314

Address BD BA AskingRent14 2543BayshoreAve 3 2 $2,50015 2415BayshoreAve 3 2 $2,65016 2751BayshoreAve 3 2 $2,75017 914SandpiperCt 3 2 $2,850

3BDAverage $2,688

Current Asking Rents at Comparable Properties

SubjectPeninsula St

E Harbor Blvd

Pierpont Blvd

5

500 ft

3

2

9

4

81

12

13

10

6

7

11

14

15

17

16

Data Source: Rentometer. Asking rents are for listings since February 24, 2018. Placement of markers is approximate.






SITE9 12

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14

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24 Ventura

1 Ventura County Fairgrounds (4.9 mi)

2 Surfer’s Point (4.9 mi)

3 Downtown Ventura (4.5 mi)

4 San Buenaventura State Beach (3.9 mi)

5 Ventura Harbor (5.1 mi)

6 Community Memorial Hospital (2.3 mi)

7 Ventura County Medical Center (2 mi)

8 Pacific View Mall (1.6 mi) American Eagle Outfitters, AT&T, BevMo, California Pizza Kitchen, Express, Forever 21, GNC, JC Penney, Lenscrafters, Macy’s, Target

9 Ventura College (0.7 mi)

10 Telephone Plaza Shopping Center (2.8 mi) Black Angus, Starbucks, Baja Fresh, The Habit, H&R Block, The UPS Store, WinCo Foods

11 Buena High School (0.5 mi)

12 Victoria Plaza (0.7 mi) Starbucks, CVS, Vons, US Bank, Subway, Cask Alehouse, OneWest Bank

13 Balboa Middle School (1.1 mi)

14 The Collection (4.5 mi) The Container Store, Century RiverPark 16, Five Guys Burgers, H&M, Los Agaves, MAC Cosmetics, Massage Envy, Panera Bread, REI, Starbucks, Target, ULTA Beauty, Verizon, Victoria’s Secret

The City of VenturaPristine beaches, accessible parks, and a vibrant downtown are all hallmarks of this bike-friendly city on the California coast. The Channel Islands are just a short ferry ride away, while the historical San Buenaventura mission offers a rich Golden State history. And don’t forget the Ventura County Fairgrounds, a massive open-space complex charged with year-round possibilities!

Subject






hayes commercial group brochure v2 - loopnet€¦ · price: $1,550,000 units: 4 unit mix: 1 x...

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