memorandum $2,400,000...sofi stadium is the first indoor-outdoor stadium to be constructed. adjacent...

624-626 ARBOR VITAE ST INGLEWOOD, CA 90301

OfferingMemorandum $2,400,000

WOODY STAHL

(310) [email protected] - 01399621

SOUGHT AFTER MIXED USE DEVELOPMENT ADJACENT TO SOFI STADIUM!(310) 780-1899

[email protected] - 01717818

BRETT LYON

Video Tour Here

http://lyonstahl.com

http://LYONSTAHL.COM

https://vimeo.com/407201011

624-626 ARBOR VITAE ST,INGLEWOOD, CA 90301

Mixed-Use Development Opportunity

Table ofContents

IndexProperty Overview

Financial Overview

Property Photography

Comparables

Area Overview

Aerial Map

Disclaimer

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Address StreetCity, State Zip

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624-626 ARBOR VITAE STINGLEWOOD, CA 90301

PropertyOverview



PropertyOverview

Property Summary

Price $2,400,000

Address 624-626 Arbor Vitae St

City, State, Zip Inglewood

County Los Angeles

Year Built 1910/1913

Number Of Units 10

Building Size 5,826 SF

Lot Size 21,091 SF

Cap Rate 4.84%

Pro Forma Cap Rate 5.45%

Grm 13.17

Pro Forma Grm 12.19

Price / Bldg Sf $411.95

Price / Lot Sf $113.79

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PropertyOverview

624-626 Arbor Vitae St, Inglewood 90301- 10-Units | $ 2,400,000

- Located Approximately 240 Yards to the Entrance of the New $5B Sofi Stadium and Hollywood Park Entertainment Complex, Which Will Feature 1.5M Sq. Ft. of Retail and Office, 2,500 Residences, a Hotel, and a 20 Acre Park

- Current Use = (1) SFR, (1) Duplex, (1) Vacant Triplex & (1) 4-Unit (10 Units Total) on 21,091 Sq. Ft. of Land

- R-M Zoning Has Multiple Options Including the Development of 19 Condos or a 6 Story Medical/Office Building

Lyon Stahl Investment Real Estate is proud to present 624-626 Arbor Vitae St, two adjacent lots totaling 21,091 square feet that consist of a 4-unit building, vacant triplex. duplex, and a SFR (10-units in total). Both parcels are zoned RM (Residential & Medical) and are located approximately 240 yards to the entrance of the new $5B Sofi Stadium and Hollywood Park Entertainment Complex.

The new development will feature 1.5M sq. ft. of retail and office, 2,500 residences, a hotel, and a 20-acre park. RM zoning allows for the development of up to 19 condos ( 1 condo/1,100 sq. ft. of land), or an office/medical building up to 6 stories.

Given the property’s incredible location, this is an excellent development or value-add investment opportunity with immediate upside potential.

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FinancialOverview



Property Summary

ADDRESS 624-626 ARBOR VITAE ST, INGLEWOOD 90301 YEAR BUILT 1910/1913

DOWN PAYMENT 60% ($1,440,000) PARKING 6 GARAGE SPACES

NUMBER OF UNITS 10 CURRENT NOI $38,769

COST PER UNIT $240,000 PRO FORMA NOI $137,762

LOT SIZE 21,091 SF CURRENT CAP RATE 4.84%

GROSS RENTABLE SF 5,826 SF PRO FORMA CAP RATE 5.45%

PRICE PER BLDG SF $411.95 CURRENT GRM 13.17

PRICE PER LAND SF $113.79 PRO FORMA GRM 12.16

Proposed Financing

LOAN AMOUNT $960,000 LOAN-TO-VALUE 40%

DOWN PAYMENT $1,440,000 AMORTIZATION 30-YEAR

INTEREST RATE 3.50% LOAN TERM 5-YEAR FIXED

MONTHLY PAYMENT $4,311 PROPOSED/EXISTING PROPOSED

ANNUAL PAYMENT $51,730 DEBT COVERAGE RATION (DCR) 2.25

Price $2,400,000

FinancialOverview 7



Annualized Operating Data

CURRENT ACTUALS PRO FORMA RENT

GROSS SCHEDULED INCOME $182,184 - $197,400 -

VACANY RATE RESERVE $9,109 5% $9,870 5%

GROSS OPERATING INCOME $173,075 - $187,530 -

EXPENSES $56,824 53% $56,824 29%

NET OPERATING INCOME $116,251 - $130,706 -

LOAN PAYMENTS $51,730 - $51,730 -

PRE TAX CASH FLOWS $64,521 4.48% $78,976 5.48%

PRINCIPAL REDUCTION $18,424 - $18,424 -

TOTAL RETURN BEFORE TAXES $82,944 5.76% $97,400 6.76%

Expense Summary*ESTIMATED Per Unit

NEW TAXES (NEW ESTIMATE) $31,519

MAINTENANCE (3%) $5,466

INSURANCE $2,330

UTILITIES ($600/unit/year) $7,200

LANDSCAPING ($100/mo) $1,200

MANAGER (5%) $9,109

TOTAL EXPENSES $56,824

EXPENSES AS %/SGI 31.19%

EXPENSE PER SF $2.69

EXPENSE PER UNIT $5,682

Scheduled IncomeCURRENT MARKET

TOTAL SCHEDULED RENT $15,182 $16,450

LAUNDRY $0 $0

GARAGES $0 $0

MONTHLY SCHEDULED GROSS INCOME $15,182 $16,450

ANNUALIZED SCHEDULED GROSS INCOME $182,184 $197,400

UTILITIES PAID BY TENANT Gas & Electric Gas & Electric

• This information has been secured from sources we believe to be reliable but representations, or warranties, expressed or implied, as to the accuracy of the references to square footage, land lines/boundaries and age are approximate. Buyer takes responsibility for all information and bears all risk for any inaccuracies

• CAP rate is based on proforma numbers and assumes 100% occupancy.

FinancialOverview 8



Unit # Unit Type Actual Rent Market Rent Notes

1 3+1 $2,550 $2,550 *Vacant

1 0+1 $945 $1,100

1 1+1 $1,250 $1,600

1 1+1 $1,550 $1,600

1 1+1 $997 $1,600

1 1+1 $1,595 $1,600

1 1+1 $1,495 $1,600

1 1+1 $1,600 $1,600 *Vacant

1 1+1 $1,600 $1,600 *Vacant

1 1+1 $1,600 $1,600 *Vacant

MONTHLY TOTALS $15,182 $16,450

ANNUALIZED TOTALS $182,184 $197,400

RentRoll 9

*CAP rate is based on proforma numbers and assumes 100% occupancy.


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PropertyPhotography



PropertyPhotography 11



PropertyPhotography 12



ZoningUse

R3 Zoning - Section 12-21.6For lots or building sites at least twelve thousand square feet in area and at least eighty feet in width, each dwelling unit hereafter constructed, be it new construction or alterations, shall have a building site of not less than one thousand one hundred square feet of land area for each dwelling unit.RM Zoning - Section 12-22.21No building hereafter erected in the R-M Zone shall exceed six stories or seventy-five feet in height, provided that any structure containing only residential units shall conform to the height regulations of the R-3 (Multiple Family) Zone.Exception: Hospital structures may exceed six stories in height subject to Special Use Permit approval.RM Zoning - Section 12-22.26Main and accessory buildings shall not cover more than sixty percent of the lot when the tallest building does not exceed six stories in height. Allowed lot coverage shall be decreased by four percent for each additional story above six stories, except for those residential buildings built in conformance with the provisions of the R-3 Multiple Family Zone.

Subject Property

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Best Possible UsesUp to 6 Stories (75’) for Mixed-Use Residential as Long as the Commercial Floor Area Component is Not Less Than 20% and Not More Than 50%Or R3 Only = 1,100 Sq. Ft. of Land Per UnitVarious Medical Use Options, Hospitals (Can Have Retail on the First Floor), Office Space, or Parking StructureContact the City to Verify All Zoning Information


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Comparables



Address Price Zoning Lot Size Price/SF Sold Date

1 10006-10008 Inglewood Ave,Inglewood, CA $2,270,000 C2 28,061 SF $80.90 3/4/2019

2 4041-4055 W Century Blvd, Inglewood, CA $3,375,000 C2 32,751 SF $103.05 10/25/2019

3 10503-10507 S Prairie Ave, Inglewood, CA $1,500,000 C2 23,997 SF $62.50 8/9/2018

4 10006-10008 Inglewood Ave,Inglewood, CA $2,270,000 C2 28,061 SF $80.90 3/4/2019

Averages $2,381,667 N/A 22,853 SF $82.15 N/A

*624-626 Arbor Vitae StInglewood, CA 90301 $2,400,000 RM 21,091 SF $113.79 N/A

Vacant Land SoldComparables 15



Vacant Land SoldComparables Map 16



Address Price Zoning Lot Size Price/SF DOM

1 3700 W 102nd St, Inglewood $2,300,000 M1 24,664 SF $93.25 476 Days

2 921 Edgewood St, Inglewood $2,980,000 R3 22,216 SF $134.13 40 Days

3 322 E Hardy St, Inglewood $1,650,000 R3 17,424 SF $94.69 189 Days

Averages $2,310,000 N/A 21,434 SF $107.36 235 Days

* 624-626 E Arbor Vitae, Inglewood $2,400,000 RM 21,091 SF $113.79 N/A

On-Market LandComparables 17



On-Market LandComparables Map 18


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AreaOverview



AreaOverview

City Overview

The City of Inglewood is currently experiencing an enormousrevitalization, bringing the new Hollywood ParkRedevelopment, slated to be the world’s most expensivesports stadium. In addition to the stadium, the developmentwill bring 3,000 new housing units, a luxury hotel andapproximately 620,000 SF of new retail. Along with theHollywood Park Redevelopment, the Los Angeles Clippers arein negotiations to build their new stadium just south ofHollywood Park. With all the new development occurring inInglewood and the rapidly changing demographics of the city,527 West Hyde Park Boulevard offers an astute investor theopportunity to capitalize on the swiftly appreciatingsubmarket and realize a tremendous return on theirinvestment.

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CityProjects 21

The new home for the Los Angeles Chargers and Rams will bethe largest stadium in the NFL. Costing nearly $5 Billion ($4.963Billion), the 3 Million sq. ft. stadium is set to be the largeststadium in the NFL and will be able to seat 70,240. The pricetickets are also expected to rise with season tickets predictedto cost $350-400 per game. Construction is 60% complete andis scheduled to be ready for the 2020 season. The stadium willalso host the 2022 Super Bowl.

The NFL stadium is only one part of a larger plan. The areaaround the stadium, known as Hollywood Park, is also underconstruction and will include about 3,000 new residential units,620,000 square feet of shops and restaurants, green spaceincluding a manmade lake, and lastly a revamped casino. Thenew Hollywood Park is expected to be completed in 2023.

SoFi Stadium is the first indoor-outdoor stadium to beconstructed. Adjacent to the stadium and under the same roofcanopy is a 6,000-seat performance venue and the 2.5-acreAmerican Airlines Plaza. The performance venue will host avariety of events, including concerts, esports events, awardshows, as well as community gatherings. Hollywood Park willfeature more than 1.5 million square feet of retail and officespace initially, 2,500 residences, a hotel, and more than 20acres of parks.

SoFi Stadium Development



CityProjects 22

The NFL stadium isn’t the only professional sporting arena boundfor Inglewood. It’s looking very likely that the Clippers will moveout of Downtown LA’s Staples Center and into the South LosAngeles city. A short document released by the city states thatthe stadium will be located across from the Hollywood ParkDevelopment and seat 18,000. Additionally, the stadium will bejoined by a new practice facility, retail space, and outdoor plazaswith basketball courts that are open to the public. The SteveBalmer privately financed stadium will cost around $1.2 Billion andis expected to open by 2024 when the Clipper’s Staples Centerlease is up.

Clippers Arena



LocalMap 23



AerialMap 24

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The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictlyconfidential; it is intended to be reviewed only by the party receiving it from Broker and should not bemade available to anyone else without the written consent of Broker. By retention or use of thisMemorandum, you agree that its contents are confidential, that you will hold it in the strictestconfidence, and that you will not disclose any of its contents contrary to these terms.

This Memorandum has been prepared to provide summary, unverified information to establish apreliminary level of interest in the subject property (“Property”). The information in this Memorandum hasbeen obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficientinvestigation to make any warranty or representation whatsoever including but not limited to theaccuracy or completeness of the information, veracity or accuracy of the information, condition of theProperty or its compliance or lack of compliance with applicable governmental requirements,developability, suitability or financial performance of the Property, income or expenses for the Property,the size and square footage of the Property and improvements, the presence or absence ofcontaminating substances, PCB’s or asbestos, the compliance with State or Federal regulations, thephysical condition of the improvements thereon, or the financial condition or business Property and doesnot purport to be an all – inclusive representation regarding the Property or to contain all or part of theinformation which prospective investors may require to evaluate the purchase of the Property. Additionalinformation and an opportunity to investigate the Property will be made available to interested andqualified prospective purchasers. All information is based on assumptions relating to the generaleconomy, market conditions, competition and other factors beyond the control of Broker, therefore, allinformation is subject to material variation. The information contained herein is not a substitute for athorough due diligence investigation. Interested parties are expected to review all information ofwhatever nature independently and not rely on the contents of this Memorandum in any manner.

The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offersto purchase the Property, and/or to terminate discussions at any time with or without notice. The Ownershall have no legal commitment or obligation unless and until written agreement(s) have been fullyexecuted, delivered and approved by the Owner and any conditions to the Owner’s obligations thereinhave been satisfied or waived.

Disclaimer & Confidentiality Agreement

Exclusively Marketed By

Woody Stahl

(310) [email protected] - 01399621

310) [email protected] - 01717818

Brett Lyon

http://lyonstahl.com

http://LYONSTAHL.COM

memorandum $2,400,000...sofi stadium is the first indoor-outdoor stadium to be constructed. adjacent...

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